Cleveland Sues 21 Lenders Over Subprime Mortgages
37758
The city is suing 21 of the nationâs largest banks and financial institutions, accusing them of knowingly plunging it into a financial crisis.
463230
As subprime borrowers began to default on their mortgages in rapidly growing numbers this year, credit card issuers increased their efforts to sign up such customers with tarnished financial histories, according to a market research firm.
98234
The fallout from the subprime mortgage industry could further constrict consumers with weak, or subprime credit, while helping to prolong the housing downturn.
72935
JB Oxford Holdings Inc., a Beverly Hills, Calif.-based discount brokerage firm, was sued by the Securities and Exchange Commission for allegedly allowing tens of thousands of improper trades in more than 600 mutual funds.
723770
The U.S. attorney for the Southern District in New York said on Tuesday he charged 26 individuals with taking part in "a wide-ranging scheme to commit mortgage fraud" at companies that brokered loans with a total face value of at least $200 million.
691142
Troubled subprime lender New Century Financial said on Tuesday it had understated debt owed to Credit Suisse First Boston Mortgage Capital LLC by $500 million on Monday.
510275
Sharks circle subprime lender New Century, but those who loaned to them may be big losers.
317419
Loans made to people with weak credit during the housing boom have pushed more than 20 companies into bankruptcy.
526331
Credit Suisse analysts estimated banks  could lose up to $52 billion over time due to their exposure to  collateralized debt obligations that invested in U.S. subprime  mortgages.
693673
Business & money: Â· Credit crunch creates Â£210bn backlog of buyouts Â· US sub-prime crisis claims more jobs and firms
443694
New Century Financial Corp.  said on Monday it had received letters from several of its lenders, including Bank of America Corp. , seeking remedies for its financial obligations.
155760
Four black homeowners sued Countrywide Financial Corp.  on Thursday, accusing the largest U.S. mortgage lender of racial discrimination in its lending practices.
759106
WASHINGTON - About 2 million subprime borrowers will lose their homes to foreclosure through 2009, costing them $71 billion in housing wealth, a congressional report said.
85446
The homeowners who signed these mortgages must be held accountable somehow ("State to refinance troubled mortgages," July 11). Yes, the mortgage companies may have taken advantage, but if the homeowners had hired an attorney or did their homework, there wouldn't be a problem. This is like rewarding stupidity.
514760
Ohio Attorney General Jim Petro said on Friday he filed a securities fraud, class-action lawsuit against Fannie Mae (FNM.N: Quote, Profile, Research) and its executive officers, charging that the mortgage buyer manipulated its
537988
Finance firm GMAC has to take out a $21.4bn loan to cover its exposure to the sub-prime mortgage crisis.
140263
Fourteen firms are under scrutiny for possible accounting fraud, insider trading or other violations tied to loans made to borrowers with weak, or subprime, credit.