Accredited, New Century lead subprime meltdown
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The U.S. mortgage meltdown broadened on Tuesday, led by Accredited Home Lenders Holding Co.  and New Century Financial Corp. , as investors feared that the subprime lenders, which make loans to people with poor credit histories, would run out of cash.
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The collapse of the fabled Levitt & Sons, the first big home builder to fail in the current slump, illustrates how the real estate turmoil is spreading far beyond subprime borrowers.
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The problems of subprime loans hint at broader risks in financial markets.
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NEW YORK -- Throughout 2006, T. Rowe Price analyst Susan Troll watched in horror as one risky mortgage deal after another hit the market. She became alarmed by a widening trend: mortgage lenders issuing home loans of poor quality that were then packaged and sold by Wall Street investment banks to...
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The crisis in the US sub-prime mortgage market leads to losses at US consumer finance firm GMAC.
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US markets lose ground as data shows repossessions and overdue mortgage payments in the US have hit their highest level in years.
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New Century Financial Corp.  on Tuesday said the U.S. Securities and Exchange Commission is investigating the subprime mortgage lender, after the agency recently asked to meet with management to discuss its accounting.
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US markets regulator the SEC is investigating troubled sub-prime mortgage lender New Century.
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HONG KONG/SINGAPORE  - Asian financial markets were roiled on Wednesday by the widening damage caused by the U.S. subprime mortgage sector meltdown, with investors fearing more negative surprises will emerge in the region.
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Records raise new questions about the business practices of the giant mortgage lender at the center of the subprime mess.
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Accredited Home Lenders Holding Co.  , a California subprime mortgage lender, reported a  fourth-quarter loss on Wednesday, hurt by worsening conditions  in the market for loans to people with weaker credit histories.
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REITs are getting pummeled, and it's time to start paying attention.
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Luxury home builder Hovnanian Enterprises Inc.  said on Friday that the subprime mortgage meltdown tripped up the industry just as some markets were showing signs of recovery.
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Accredited Home Lenders Holding Co , a struggling subprime mortgage lender, on Tuesday posted a $260.2 million quarterly loss and said it remained unsure it would survive the fallout from a slumping U.S. housing market.
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Two Wall Street investment banks had dramatically different success in weathering market turbulence triggered by a subprime mortgage meltdown, as results at Goldman Sachs Group Inc  easily exceeded expectations while those at Bear Stearns Cos Inc  fell far short.
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Home builders and financial issues,  the biggest casualties of the subprime lending meltdown, were  hit again by tax-motivated selling in recent weeks but could  rebound a bit early in the new year, money managers said on  Monday.
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New Century Financial Corp.  on Tuesday said the U.S. Securities and Exchange Commission is investigating the subprime mortgage lender, which is under siege from creditors and has stopped making loans.