Lenders push New Century to bankruptcy's doorstep
58320
New Century Financial Corp. , the largest independent U.S. subprime mortgage lender, said on Monday its lenders plan to halt financing, pushing the company closer to bankruptcy amid dwindling cash and $8.4 billion in obligations that could come due immediately.
379955
The number of loans past due among people with weak credit histories rose to 13.33 percent. One lender, New Century, faces delisting and an S.E.C. investigation.
256834
At a Senate Banking Committee hearing yesterday, legislators and consumer advocates prodded federal banking regulators to move more quickly to put restrictions on non-traditional mortgage lending, because, they said, the new kinds of mortgages may place borrowers and lenders at financial risk.
11319
New Century Financial Corp. , the largest independent U.S. subprime lender, said on Monday that its lenders plan to halt financing, in a development that could push the company closer to bankruptcy.
35167
Business & money: Number of repossessed homes to reach highest level since 1990s, says Council of Mortgage Lenders.
317927
Six top mortgage lenders and servicers on Tuesday launched a new program aimed at staving off foreclosure for seriously delinquent borrowers in the hopes that new, more affordable loan terms can be worked out.
668751
A decade of low-interest lending allowed U.S. consumers to run up debt. But with rates rising, they can no longer count on borrowing their way out of trouble
561367
If you hope to get a mortgage this coming year, look beyond your credit score, because that's what lenders will be doing.
689000
Amid a steady stream of headlines about turmoil in the U.S. mortgage market propelled by rising defaults of subprime loans, home buyers and owners are fast turning to traditional, long-term mortgages for home financing needs, according to a report released on Wednesday.
480359
The number of individuals going bankrupt has hit a record high, government figures revealed yesterday in fresh evidence that over-indebted households are struggling to cope with recent interest rate rises.
387029
Shares in US mortgage lender New Century are suspended amid fears the group may be close to bankruptcy.
463254
The mortgage meltdown broadened on Tuesday, led by Accredited Home Lenders Holding Co.  and New Century Financial Corp. , as investors feared that the subprime lenders, which make loans to people with poor credit histories, would run out of cash.
709332
Banking regulators on Tuesday urged mortgage servicers to be proactive and contact borrowers at risk of default to help them avoid foreclosure and keep their homes.
220983
New Century Financial Corp. , whose shares fell 25 percent on Thursday amid speculation it would seek bankruptcy protection, said it had received $265 million in financing, but was not accepting loan applications after some lenders blocked its credit lines.
66180
Global credit squeeze undermining private sector sale of mortgage lender
209537
Trying to turn the ongoing credit crunch to their advantage, some Massachusetts banks are ramping up their criticism of other mortgage lenders.
177779
Countrywide, the nationâs largest mortgage lenders, has been struggling to deal with the troubles in the mortgage industry.