Subprime lender Accredited Home in $400 mln buyout
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Accredited Home Lenders Holding Co. , a struggling subprime mortgage lender, has agreed to be acquired by private equity firm Lone Star for $400 million, the companies said on Monday.
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Tax preparer H&R Block Inc.  said the subprime mortgage unit it is selling has lost a credit line, lowering its borrowing capacity closer to the minimum needed for the sale to go through.
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Bank of America Corp said on Friday it agreed to acquire battered mortgage lender Countrywide Financial Corp in a $4 billion transaction that could help avert one of the biggest collapses from the U.S. housing crisis.
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YESTERDAY Close $60.07 Change -$3.18 52-WEEK High $71.92 Low $54.97 Freddie Mac, the nation's number two buyer and backer of home mortgages, set aside more than $300 million in the second quarter to account for bad loans, contributing to a 45 percent drop in profit.
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US buyout specialist Kohlberg Kravis Roberts is buying Masonite International (MHM.TO: Quote, Profile, Research) (MHM.N: Quote, Profile, Research) , a Canadian-based maker of building products, in an all-cash deal worth C$3.1
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Eurocastle Investment, a London-listed group managed by US private equity group Fortress Investment, is to pay â¬300m (Â£210m) for a Deutsche Bank property portfolio, the latest deal in the vast property sell-off under way in Germany.
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Accredited Home Lenders, a top subprime mortgage loan company in 2007 whose risky practices forced it to stop lending and slash its staff, is again reaching out to borrowers with sketchy credit even as the housing downturn deepens.
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General Electric plans to sell its WMC Mortgage sub-prime lending business that it bought in 2004.
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ALBANY, N.Y. -- A four-bedroom, 1-bath colonial for only a $450 monthly mortgage payment? How can you go wrong? Lots of ways. Fair housing advocates say the first-time buyer of that $85,000 Syracuse, N.Y., home lost out in one of the many forms of &quot;house flipping,&quot; or the fast resale of property at high profits.
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Fannie Mae , the embattled U.S. home financing company, on Wednesday said it agreed to sell &#36;5 billion in preferred stock to institutional buyers as part of an effort to comply with regulatory demands to increase capital.
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Private equity is swooping in and taking over the subprime mortgage business, seeing opportunity amid the wreckage.
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Bank of America Corp on Friday said it agreed to acquire struggling mortgage lender Countrywide Financial Corp for about $4 billion  (2.04 billion pounds) in stock, a move that could help avert one of the biggest collapses in the U.S. housing crisis.
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Finance firm GMAC has to take out a $21.4bn loan to cover its exposure to the sub-prime mortgage crisis.
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SYDNEY/NEW YORK  - Morgan Stanley's  real estate unit said on Thursday that it would buy Australia's Investa Properties Ltd.  for A$4.7 billion ($3.9 billion), the latest in a string of property takeovers by the U.S. investment bank.
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Fannie Mae, the biggest buyer of US mortgages, will correct its accounting and boost capital to a level 30 percent above the required minimum after its federal regulator found errors
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Mortgage giant Freddie Mac said yesterday it will no longer buy those high-risk home mortgages that it deems to be the most vulnerable to foreclosure. The move came amid a deteriorating market for subprime loans affected by slumping home prices and rising interest rates