Accredited Home Lenders posts 4th-quarter loss
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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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U.S. mortgage applications fell last  week as interest rates hit their highest in over four years, an  industry trade group said on Wednesday.
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KB Home  on Thursday posted a  fiscal third quarter loss, as the U.S. home market suffered a  deepening decline in demand, a swelling supply of homes for  sale and tighter standards in the mortgage market.
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Student lending company Sallie Mae posted a fourth-quarter loss on Wednesday, citing higher provisions for loan losses due to the weakening credit markets.
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Shares down after company shutters home lending operation.
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Applications for U.S. home mortgages fell last week as refinancing activity slumped and mortgage rates were little changed, an industry group said on Wednesday.
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LOS ANGELES -- Countrywide Financial Corp., the nation's largest mortgage lender, said Tuesday it swung to a loss in the fourth quarter due to rising loss provisions and impairment charges as more borrowers fell behind on mortgage payments. The earnings fell well short of Wall Street estimates.
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Washington Mutual Inc , the  largest U.S. savings and loan, posted a $1.87 billion  fourth-quarter loss on Thursday, its first quarterly loss in  more than a decade, battered by mortgage defaults and  write-downs.
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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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Countrywide Financial Corp , the largest U.S. mortgage lender, posted a $1.2 billion third-quarter loss on Friday, hurt by write-downs as the U.S. housing market deteriorated.
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Hurt by rising losses from home equity loans, Wells Fargo & Co. said fourth-quarter profit fell, the first decline in more than six years.
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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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Average interest rates for U.S. mortgages dropped for the fourth week in a row, to levels not seen since the beginning of the year, according to a survey released by finance company Freddie Mac  on Thursday.
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The meltdown among U.S. subprime mortgage lenders broadened on Tuesday, as shares of Accredited Home Lenders Holding Co. lost two-thirds of their value and New Century Financial Corp. sank, with investors fearing both would run out of cash.
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The mortgage lending crisis deepened  on Tuesday, as Impac Mortgage Holdings Inc  said it will  quit most lending activities, while Accredited Home Lenders  Holding Co  posted a big quarterly loss and said its  survival remained in doubt.
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Countrywide Financial Corp , the battered mortgage lender being acquired by Bank of America Corp , posted a $421.9 million fourth-quarter loss on Tuesday, hurt by mounting defaults in a sinking housing market.
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Bank of America reports a 95% fall in  fourth-quarter profits as a result of write downs and rising credit losses.