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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Attempts to find an investor for bankrupt German mobile phone maker BenQ Mobile GmbH &amp; Co. OHG have failed, after the last potential buyer ended negotiations, the company's insolvency administrator said Sunday.
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Stocks tumbled on Wall Street after BofA announced a deal to acquire the troubled lender.
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Bank of America Corp said on Friday it would buy mortgage lender Countrywide Financial Corp for $4 billion in a move that could avert one of the biggest collapses in the U.S. housing crisis.
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Shares of subprime lender tumble after margin calls.
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The crisis in the US sub-prime mortgage market leads to losses at US consumer finance firm GMAC.
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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&#39;s  housing market slump.
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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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Bank of America Corp on Friday said it agreed to acquire struggling mortgage lender Countrywide Financial Corp for about $4 billion  (2.04 billion pounds) in stock, a move that could help avert one of the biggest collapses in the U.S. housing crisis.
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Crisis-hit mortgage lender's shares plummet as much as 34% as run on bank gathers pace.
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Bank of America Corp  on Friday said it agreed to acquire struggling mortgage lender Countrywide Financial Corp  for about $4 billion in stock, a move that could help avert one of the biggest collapses in the U.S. housing crisis.
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Countrywide, the troubled lender that came to symbolize many of the excesses of the subprime mortgage crisis, is negotiating a sale to Bank of America.
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A proposed merger of Riggs National Corporation and PNC Financial Services Group collapsed amid a disagreement over the price PNC was willing to pay.
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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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Bankruptcy rumors followed by a denial put the lender's shares in flux.
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If you're struggling  with a mortgage you got from Countrywide Financial, you may be wondering what Bank of America's takeover plan bodes for your loan.
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One of Britain's biggest property funds shuts its doors to withdrawals after panic selling