MGIC scraps Radian deal amid mortgage turmoil
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Mortgage insurer MGIC Investment Corp  scrapped plans on Wednesday to acquire rival Radian Group Inc , as the takeover became the latest casualty of turmoil in U.S. mortgage markets.
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An investor group that worked for more than a year to buy the state&#39;s third largest electric utility threw in the towel Thursday and pulled its approximately $3 billion offer off the table.
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Ameriquest Mortgage Co, the largest U.S. subprime lender as recently as 2005, is closing, the latest home loan provider to shut down amid the nation's housing market slump.
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Shares down after company shutters home lending operation.
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Investment bank Lehman Brothers Holdings Inc  on Thursday said it would stop U.S. wholesale mortgage lending because of a continued slump in credit and housing markets, a move that will cut 1,300 jobs and result in a $40 million charge.
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Ambac Financial, which insures against sub-prime losses,  abandons share sale
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Mortgage lender NovaStar Financial Inc. said Monday it was terminating its status as a real estate investment trust, retroactive to the beginning of this year, after determining it could not pay investors a required dividend.
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U.S. apartment owner Archstone-Smith Trust  will have to pay a $235 million break-up fee, roughly 1 percent of the deal price, to end a proposed deal to be acquired by affiliates of Lehman Brothers  and Tishman Speyer, the company said in a regulatory filing on Friday.
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Europeâs biggest bank said it would close an American unit as it scales back risk-taking after writing down the value of subprime mortgage investments by $14.7 billion last year.
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Mortgage insurer MGIC Investment Corp  said on Tuesday it expects insurance payouts to generate up to $2 billion of paid losses in 2008, as the performance of mortgages it insures deteriorates.
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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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U.S. apartment owner Archstone-Smith Trust  will have to pay a $235 million break-up fee plus expenses to end a proposed deal to be acquired by affiliates of Lehman Brothers  and Tishman Speyer for a total of $22.2 billion, the company said in a regulatory filing on Friday.
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The discount broker finally throws in the towel on home mortgages.
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State securities regulators have moved to suspend or revoke the licenses of nine former brokers for Metropolitan Mortgage &amp; Securities, the bankrupt financial conglomerate that has left thousands of people across the Northwest holding hundreds of millions
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Shares of subprime lender tumble after margin calls.
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Mortgage insurer MGIC Investment Corp.  and bond insurer Radian Group Inc.  agreed to terminate their pending merger, the companies said on Wednesday, citing market conditions.
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Northern Rock, one of Europeâs biggest casualties of the credit crisis, sold some of its mortgage portfolio to JPMorgan Chase.