Federal Reserve policy makers are facing fears of a worsening housing market and a painful credit crunch and their impact on Wall Street.
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Wells Fargo & Co., the second-largest U.S. mortgage lender, said Thursday it will close its subprime lending business, which processes and funds home loans for third-party mortgage brokers.
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This week’s featured story from Broker Magazine focuses on a round table of home mortgage brokers. They discussed the state of the subprime mortgage market. Let’s listen in…
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After the bad credit mortgage market collapsed, many products that were widely available have disappeared from the scene.
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Tighter lending standards in the aftermath of rampant defaults on bad credit mortgages are hurting more than would-be home buyers.
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The Federal Reserve Bank of St. Louis President says investors who lost money on bad credit mortgage-linked securities “got what they deserved.”
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Al Ynigues found out the hard way about the dangers that lurk in exotic high-risk home loans.
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In an ominous sign that concerns about the housing market are growing, two major financial rating houses on Tuesday raised questions about the health of billions in bonds tied to the troubled bad credit mortgage market.
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State lawmakers, faced with a record number of constituents who may lose their homes, are pressing to pass their own laws to halt mortgage abuse, saying they can’t afford to rely on U.S. Congress.
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It won’t mean the end to no-income verification or high-risk mortgages for bad credit home buyers, but new guidance from federal financial regulators almost certainly will cut their availability sharply.
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