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9 Articles match "Countrywide","Loan"
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Subprime meltdown means jump in foreclosures
As more lenders go bankrupt and more Americans default on home loans, a jump in foreclosures is expected. reported big losses from loan defaults due to sagging home prices and higher interest rates. As the lenders brace for more trouble, even solvent lenders — including Ameriquest, Countrywide, Novastar and H&R Block’s Option One Mortgage — are feeling the pain from rising loan defaults made to people with spotty credit. Panic is spreading in the U.S. subprime mortgage market after the bankruptcy of at least 20 lenders in the last two months, triggering a mass
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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From $2B Bailout to $4B Buyout at Countrywide
Just late last year Bank of America infused $2 billion into the coffers of Countrywide Financial to support the floundering lender’s attempt to survive the subprime mortgage mess — which reportedly almost forced the firm into filing for bankruptcy protection earlier this week. Now with Countrywide’s stock weak and its value depressed, it is being widely reported that Bank of America is paying $4 billion in stock to buy out the company — in which it already had a 16 percent stake in convertible preferred stock after the bailout. It didn’t take long from a historical perspective.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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New Ultimatum Hits Lenders: Buy Loans or Foreclose
It was in early October when Bank of America said it would modify 400,000 mortgages originated during past few years by its newly acquired Countrywide subsidiar
RealtyTrac Article Library
- Monday, December 8, 2008
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Can An Ohio Judge Reduce The Foreclosure Glut?
Her demand: Countrywide Home Loans must document every foreclosure claim it submits in Ohi A federal bankruptcy judge has set a new precedent that could stop huge numbers of foreclosures nationwide.
RealtyTrac Financial Library
- Wednesday, September 16, 2009
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Can An Ohio Judge Reduce The Foreclosure Glut?
Her demand: Countrywide Home Loans must document every foreclosure claim it submits in Ohi A federal bankruptcy judge has set a new precedent that could stop huge numbers of foreclosures nationwide.
RealtyTrac Article Library
- Wednesday, September 16, 2009
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What's Causing the Credit Crunch?
Skyrocketing foreclosure filings on subprime loans, those made to borrowers with poor credit, have caused huge losses for Wall Street hedge funds and other buyers of securities backed by those mortgages. Moreover, mortgage lenders have also begun raising interest rates or cutting off credit for other types of loans, including Alt-A loans, a grade between prime and subprime. A lively debate is ensuing as to why the mortgage industry is unraveling and who’s to blame for the growing credit crunch that is sabotaging the housing industry. Wall Street analysts, main street investors,
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Good Morning Mr. Bernanke!
The early morning newscast today got me wondering if Angelo Mozilo, CEO of Countrywide Financial Corp., Still, this comes a day after Countrywide Financial announced it was going to have to dig into it’s $11.5 billion credit line from 40 of the world’s largest banks in order to shore up its existing loan portfolio and keep its doors open and the lights on. has Ben Bernanke’s number on his cellphone? As head of the nation’s largest mortgage lender, maybe Mozilo woke the Federal Reserve Chairman at some ungodly hour this morning from his long hibernation and complained, “Wake
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Ed McMahon Fighting Foreclosure
million loan for a home in Beverly Hills, California. million in mortgage loans with Recon Trust, a unit of Countrywide Financial Corp., Ed McMahon, who for decades appeared as Johnny Carson’s sidekick on “The Tonight Show,” is the latest casualty of an ever-growing foreclosure crisis that is gripping the nation. Yesterday, the Wall Street Journal reported that McMahon was $644,000 in arrears on a $4.8 The 85-year old McMahon fell and broke his neck 18 months ago and defaulted on $4.8
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Subprime meltdown means jump in foreclosures
As more lenders go bankrupt and more Americans default on home loans, a jump in foreclosures is expected. reported big losses from loan defaults due to sagging home prices and higher interest rates. As the lenders brace for more trouble, even solvent lenders — including Ameriquest, Countrywide, Novastar and H&R Block’s Option One Mortgage — are feeling the pain from rising loan defaults made to people with spotty credit. Panic is spreading in the U.S. subprime mortgage market after the bankruptcy of at least 20 lenders in the last two months, triggering a mass
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Not Enough Rope in Administration's Lifeline' Program
Just a few short months ago President Bush stood in front of the press and swore that it was not the federal government’s job to bail out either lenders who made bad loans or speculative homebuyers who purchased more home than they could rightly afford utilizing the so-called “exotic” or “liar loans” popularized over the past few years. The Administration has encouraged six of the nation’s largest lenders — Bank of America, Citigroup, Countrywide Financial Corp., Last week Treasury Secretary Henry Paulson threw out what the administration considers to be a life preserver to homeowners facing foreclosure.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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