4 Articles match "Countrywide","News"

The Latest from RealtyTrac MORE
Subprime meltdown means jump in foreclosures
filed for bankruptcy on Feb 7, sounding the alarm and bringing the total failure of subprime lenders to 20 since December, according to Bloomberg News . And Doug Duncan, chief economist of the Mortgage Bankers Association in Washington, told Bloomberg News that more than 100 other lenders will go out of business this year. As the lenders brace for more trouble, even solvent lenders — including Ameriquest, Countrywide, Novastar 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 liquidation
www.foreclosurepulse.com - Tuesday, December 16, 2008
READ MORE
What's Causing the Credit Crunch?
Countrywide Financial Corp., And this week Countrywide said it was having trouble borrowing money on a short-term basis, sparking fears about the possibility of a Countrywide bankruptcy. This unusual step taken by Countrywide only fans the fears about the problems facing lenders. But the bad news doesn’t end there. 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, corporate executives and government bureaucrats
www.foreclosurepulse.com - Tuesday, December 16, 2008
READ MORE
Good Morning Mr. Bernanke!
The early morning newscast today got me wondering if Angelo Mozilo, CEO of Countrywide Financial Corp., Wall Street reacted immediately to the news this morning, rallying up over 300 points before settling back to around a 180 point advance. Still, this comes a day after Countrywide Financial announced it was going to have to dig into it’s $11.5 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 up and do
www.foreclosurepulse.com - Tuesday, December 16, 2008
READ MORE
  • The Best from RealtyTrac MORE
  • 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
    READ MORE
  • What's Causing the Credit Crunch?
    Countrywide Financial Corp., And this week Countrywide said it was having trouble borrowing money on a short-term basis, sparking fears about the possibility of a Countrywide bankruptcy. This unusual step taken by Countrywide only fans the fears about the problems facing lenders. But the bad news doesn’t end there. 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, corporate executives and government bureaucrats
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE
  • Good Morning Mr. Bernanke!
    The early morning newscast today got me wondering if Angelo Mozilo, CEO of Countrywide Financial Corp., Wall Street reacted immediately to the news this morning, rallying up over 300 points before settling back to around a 180 point advance. Still, this comes a day after Countrywide Financial announced it was going to have to dig into it’s $11.5 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 up and do
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE
  • Subprime meltdown means jump in foreclosures
    filed for bankruptcy on Feb 7, sounding the alarm and bringing the total failure of subprime lenders to 20 since December, according to Bloomberg News . And Doug Duncan, chief economist of the Mortgage Bankers Association in Washington, told Bloomberg News that more than 100 other lenders will go out of business this year. As the lenders brace for more trouble, even solvent lenders — including Ameriquest, Countrywide, Novastar 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 liquidation
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE