Deal to Buy Mortgage Company Collapses
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In a sign of continuing mortgage industry woes, PHH, one of the largest originators of residential home loans, said it is scrapping a planned $1.8 billion sale.
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HBOS, the UK's fourth biggest bank, says a failed customer retention plan has seen its share of new mortgages slide.
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H&R Block said yesterday that the sale of its subprime lending unit, Option One Mortgage, might fall apart as credit markets deteriorate.
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Bank of America agrees to buy the troubled mortgage lender for 'bargain-basement' price of around $4 billion.
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In less than a month, Americaâs largest mortgage lender went from Wall Street sweetheart to being seen as nearly bankrupt. What happened?
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Retailer's stock sinks after investors agree to sell their shares at a lower-than-expected price.
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Two Bear Stearns hedge funds, worth more than $20 billion, teetered on collapse yesterday after absorbing major losses from investments in the subprime mortgage industry.
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The bigger-than-expected write-down of its mortgage portfolio led to a quarterly loss of $859 million, the bank said.
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Yet another major buyout deal may be on the rocks. The consortium that had agreed to buy Sallie Mae for $25 billion plans to return to the negotiating table and seek a lower price, people close to the group said yesterday. If the group fails, it may move to scuttle the deal.
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Sale process for stricken bank in disarray as private equity firm fails to submit an offer
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Global credit squeeze undermining private sector sale of mortgage lender
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Britain's financial authorities stepped in to rescue mortgage lender Northern Rock &lt;NRK.L&gt; on Friday as the group, which has lent aggressively to home buyers, fell victim to the sharp rise in borrowing costs between banks.
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The mortgage lending crisis deepened on Tuesday, as Impac Mortgage Holdings Inc  said it will quit most lending and cancel its dividend, while Accredited Home Lenders Holding Co  posted a big quarterly loss and said its survival remained in doubt.
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Mortgage company salvages sale to private equity fund by agreeing to a lower price.
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The Nationwide building society has stopped offering the same mortgage deals to new and current borrowers
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Alliance Bancorp Inc. has filed for Chapter 7 bankruptcy protection and will liquidate, becoming the latest residential mortgage lender to collapse in the U.S. housing downturn.
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The Bank of England has offered an emergency loan to Northern Rock after the mortgage lender became the biggest British casualty of the credit squeeze sparked by the crisis in the U.S. subprime mortgage market.