Sallie Mae posts loss
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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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Countrywide Financial Corp ,  the battered mortgage lender being acquired by Bank of America  Corp , posted a $422 million fourth-quarter loss on  Tuesday, hurt by mounting defaults in a sinking housing market.
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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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Student loan company Sallie Mae became a private company Wednesday, severing its ties with the federal government. Officials signed the final documents at the Treasury Department -- nearly four years ahead of a congressionally set deadline of 2008.
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Countrywide Financial Corp, the mortgage lender that agreed this month to be acquired by Bank of America Corp, posted a larger-than-expected $421.9 million quarterly loss on Tuesday, as more homeowners fell behind on payments.
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Citigroup Inc on Tuesday posted its first quarterly loss since its creation in 1998, hurt by write-downs for exposure to subprime mortgages and other risky debt.
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NEW YORK, Jan. 23 -- Sallie Mae, the student loan giant, reported Wednesday that it lost $1.64 billion in the fourth quarter, a sharp reversal from its $18 million profit in the comparable quarter a year earlier.
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One of the largest private takeovers in history -- the $25.3 billion buyout for college loan giant Sallie Mae -- unraveled yesterday after its buyers balked at the price, citing turmoil in the credit markets and federal legislation to cut subsidies to student lenders.
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US investment bank Bear Stearns reports its first loss after making risky bets on sub-prime mortgages.
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The consortium that agreed to buy  student lender Sallie Mae for $25 billion said on Wednesday  that as of today conditions for the closing of the deal would  not be met.
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US student loan firm Sallie Mae says  private equity buyers are pulling out of a $25bn buyout of the firm.
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SLM Corp. , better known as Sallie Mae, said on Thursday it restated nearly three years of financial statements because of several errors in its statement of cash flows.
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Countrywide Financial Corp , the battered mortgage lender being acquired by Bank of America Corp , on Tuesday posted a fourth-quarter loss, hurt by mounting defaults in a sinking housing market.
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Shares of Sallie Mae tumbled more than 13 percent as investors reacted to the companyâs disclosure that it would cut back on its core business of making student loans.
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Citigroup Inc  on Tuesday posted  its first quarterly loss since its creation in 1998, hurt by  write-downs for exposure to subprime mortgages and other risky  debt.
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The mortgage lender posted a fourth-quarter loss of $509.1 million as it raised its loan-loss provisions to account for growing defaults and foreclosures.
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Morgan Stanley , the second-largest U.S. investment bank, on Wednesday posted a fourth-quarter loss after recording bigger-than-expected write-downs on assets hit by the credit crunch, and said it sold a $5 billion stake to China Investment Corp to boost capital.