Consumerist
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subprime meltdown
WaMu Says Housing Market In "Perfect Storm"
WaMu's CEO is saying that the subprime meltdown isn't just magically going away: More » -
subprime meltdown
Mortgage Industry Lays Off More Workers
The mortgage industry isn't just hemorrhaging money anymore, it's hemorrhaging jobs. Two more mortgage lenders (Lehman Brothers Holdings and the National City Corporation) announced that they would be laying off 2,000 employees. More » -
subprime meltdown
Inside The Countrywide Subprime Lending Frenzy
The New York Times has a very interesting article about the business practices that resulted in Countrywide's dramatic spiral into the dirt. Recently, the nation's largest mortgage lender had to tap $11.5 billion in emergency credit and was the beneficiary of a $2 billioninvestmentbailout from Bank of America. More » -
subprime meltdown
Mortgages Are Disappearing But The Advertising Isn't
Even as lenders face bankruptcy and banks are closing down their mortgage divisions and cutting jobs, the advertising for subprime and non-conforming loans is still going strong. What's the deal? More » -
subprime meltdown
Capital One To Close Mortgage Unit
Another day, another sinking mortgage lender. Today's victim is Capital One's mortgage banking subsidiary. By closing the unit Capital One will be cutting 1,900 jobs. From MSN Money: More » -
subprime meltdown
Countrywide Borrows $11.5B from 40 banks
Countrywide has secured $11.5B in financing from 40 banks in an effort to remain afloat as the mortgage market crashes. More » -
mysterious disappearing lenders
Whoops, Where'd My Mortgage Go?
NPR interviewed a would-be Brooklynite named Claudia who is trying to buy an apartment for herself and her teenaged sons. Everything seemed settled, when all of a sudden the lender that was going to be offering Claudio her HELOC loan decided they didn't really want to anymore. More » -
subprime meltdown
Countrywide, America's Largest Mortgage Lender, May Have To File For Bankruptcy
Merrill Lynch & Co. analyst Kenneth Bruce has downgraded America's largest mortgage lender from a "buy" to a "sell", claiming that the company may have to file for bankruptcy. From Reuters: More » -
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oh, no politics!
Attention: The Subprime Meltdown Will Be Politicized
The subprime meltdown has made its way into campaign speeches, thanks to one Sen. H. Clinton (D-NY). More » -
subprime meltdown
Jim Cramer Loses His $%^$ On CNBC
Jim Cramer is really upset about the subprime meltdown and would like to express his frustration in a healthy way. By screaming on television. Might want to turn the volume down before you watch this one. Who said CNBC can't occasionally be amusing? More » -
lending
The Truth About Credit Card Debt
Recently we noted that 90% of American households thought they held average or below average levels of credit card debt. This made us think that Americans were in denial when it came to their credit card debt since "90%" and "average" simply don't mix. More » -
subprime meltdown
Subprime Meets Wall Street, Investor Forced To Sell Yacht
Meet the subprime mortgage meltdown's other victim, a millionaire mortgage investor who has been forced to put his yacht up for sale—for $23.5 million. More » -
subprime meltdown
Easy Money Drying Up, Taking The Economy With It?
What happens when easy credit, the lifeblood of our economy for the past few years, dries up? Consumer spending slows and people start mouthing the word "recession." More » -
your money
You're Never Too Young To Have Your Identity Stolen
The NYT has an article about Gabriel Jimenez, a 25-year-old who has been battling an identity thief for half his life. His SSN was stolen and used by an illegal immigrant when he was 11, and it's been a nightmare ever since. More » -
subprime meltdown
WaMu To Stop Offering Cetain Types Of Subprime Mortgages
WaMu, the nations largest Savings & Loan, is going to stop issuing certain risky types of subprime loans. More » -
lawsuits
Blue Hippo Takes Your Payments, Doesn't Send Your Merchandise
Blue Hippo is one of those "no credit check" computer-buying companies. The basic idea is that you start making payments to Blue Hippo in order to "establish your credit history," then, after 9 weeks, they send you a computer. You continue to make payments on the computer for a year, after which it is yours. More » -
lawsuits
$325 Million Amerquest Settlement Payout Might Average $812.15 Per Person
If you got a mortgage through Ameriquest from 1999-2005, you may be eligible for a $325 million settlement Ameriquest reached with 49 states over their shady lending practices, which included failing to disclose that the loans had adjustable rates, failing to disclose the terms of the loan, refinancing homeowners into inappropriate loans, inflating home appraisals, and charging excessive fees such as prepayment penalties and loan origination fees. Ameriquest did not admit wrongdoing. More » -
subprime meltdown
New Record For Foreclosures In The First Half
Foreclosures hit an all time record in the first half of 2007, according to Bloomberg. Since the beginning of the year 926,000 foreclosures have been filed, 56% more than a year earlier. More »
lending
New York, 6:56 PM
Sun Nov 22
7 posts in the last 24 hours
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