Another CEO Gone
Give Wachovia’s board credit for honesty. The board fired Ken Thompson, who had been chief executive since 2001, and did not mince words in explaining why he was leaving.
It is not clear what ...
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ken thompson, lender, wachovia June 2nd, 2008
AP
LOS ANGELES - More U.S. homeowners fell behind on mortgage payments last month, driving the number of homes facing foreclosure up 65 percent versus the same month last year and contributing to a deepening slide ...
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President George W. Bush predicted last August that a plan introduced by the administration to assist American borrowers trying to cope with adjustable-rate mortgages would help tens of thousands of people.
Mortgage industry executives were skeptical, ...
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Mortgage finance firm cuts quarterly dividend as it moves to shore-up capital in the face of losses.
NEW YORK (CNNMoney.com) -- Mortgage financer Fannie Mae warned Tuesday that the tumbling home values and loan defaults that ...
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Finance company GMAC LLC, which is partly owned by General Motors Corp., is negotiating terms of a a $3.5 billion loan for its struggling mortgage subsidiary Residential Capital LLC to keep it out of bankruptcy ...
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Mortgage lender Countrywide Financial Corp (CFC.N: Quote, Profile, Research) on Tuesday defended its treatment of borrowers who have filed for bankruptcy and pledged to hire an independent auditor to review the company's practices.
"This type of ...
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In California, the number of severely delinquent mortgage accounts increased 35 percent
IRVINE, Calif., April 30 /PRNewswire-FirstCall/ -- Many U.S. homeowners
continue to weather the current credit crunch and real estate market
conditions, as ...
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AP
LOS ANGELES (AP) — Countrywide Financial Corp. said Tuesday it lost $893 million in the first quarter, as rising loan defaults amid a deepening housing downturn forced the nation's largest mortgage lender and servicer to ...
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The Associated Press
CLEVELAND (AP) — National City Corp., a largely Midwestern bank reeling from steep mortgage losses, said Monday it had secured a $7 billion cash infusion from equity investors but slashed its dividend and ...
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The Associated Press
Legislation by Rep. Barney Frank, D-Mass., the House Financial Services Committee chairman, would relax the Federal Housing Administration's underwriting standards to allow the hardest-pressed homeowners to qualify for government-backed loans.
That includes people ...
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