10 resumes a day, no takers

Mortgage underwriter Joshua Hager saw the writing on the wall and started looking for a new job in November. Now out of work, he's trying to get his foot back in the door of a ... More... (Mortgage Jobs, Mortgage Lender & Broker News, Mortgage News)
Add a Comment , March 29th, 2008

Irvine, Calif: Welcome to subprime’s ghost town

A year ago Irvine, Calif., was still riding high on the subprime boom; then almost overnight the industry and more than 4,000 good paying jobs vanished. The former headquarters of New Century Financial in Irvine, Calif., ... More... (Mortgage Lender & Broker News, Mortgage News)
Add a Comment , March 27th, 2008

US mortgage aid plan sees role for Fannie, Freddie

WASHINGTON (Reuters) - Fannie Mae (FNM.N: Quote, Profile, Research) and Freddie Mac (FRE.N: Quote, Profile, Research) would have to meet new goals to invest in troubled loans and erase some mortgage debt for borrowers facing ... More... (Mortgage Lender & Broker News, Mortgage News)
Add a Comment , , March 27th, 2008

Thornburg Mortgage produces new cash plan

Thornburg Mortgage Inc., which said March 19 that it faced a seven-day deadline to raise $948 million, has announced on the sixth day a new plan to raise the cash after the failure of a ... More... (Mortgage Lender & Broker News, Mortgage News)
Add a Comment , March 26th, 2008

Wells Fargo Home Mortgage, Horizons Real Estate Group team up

Wells Fargo Home Mortgage and Horizons Real Estate Group LLC have formed a joint venture to provide mortgage loans for Re/Max Horizons Group operations. Horizons Real Estate of Broomfield is the parent company of Re/Max Horizon ... More... (Mortgage Lender & Broker News, Mortgage News)
Add a Comment , March 25th, 2008

Credit Suisse Warns of Further Losses

ZURICH -(Dow Jones)- Credit Suisse Group (CS) Thursday poured cold water on hopes the banking industry was on the mend as it warned that difficult market conditions in March will likely lead to a ... More... (Mortgage Lender & Broker News, Mortgage News)
Add a Comment , , March 25th, 2008

Thornburg to Raise $1.35 Billion

SANTA FE, N.M. - Mortgage lender and investor Thornburg Mortgage Inc. said Tuesday it will raise $1.35 billion through a private-placement deal to help keep the company in business and avoid bankruptcy. "Going forward, it gives Thornburg ... More... (Mortgage Lender & Broker News, Mortgage News)
Add a Comment , March 25th, 2008

Wall Street May Face $460 Billion Credit Losses, Goldman Says

March 25 (Bloomberg) -- Wall Street banks, brokerages and hedge funds may report $460 billion in credit losses from the collapse of the subprime mortgage market, or almost four times the amount already disclosed, according ... More... (Mortgage Lender & Broker News, Mortgage News)
Add a Comment , March 25th, 2008

Federal banks can buy more mortgage-backed debt

The nation's 12 Federal Home Loan Banks were freed Monday to boost their purchase of mortgage-backed bonds by about $150 billion -- another government step to pump money back into a market that slumped as ... More... (Mortgage Lender & Broker News, Mortgage News)
Add a Comment , , March 25th, 2008

A Sweeter Bear Bid May Sour the Fed

JPMorgan raises its offer in hopes of winning over shareholders. Will the Federal Reserve end up holding the bag? The Federal Reserve has been put in an awkward position by JPMorgan Chase's (JPM) decision to raise ... More... (Mortgage Lender & Broker News, Mortgage News)
Add a Comment , , , March 24th, 2008