Lenders to halt New Century financing
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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.
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Freddie Mac (FRE.N: Quote, Profile, Research) , the No. 2 US mortgage finance company, on Monday said it will shutter its broker-dealer business unit in a step
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The moratorium considers nonfinancial companiesâ applications to establish or acquire banks.
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Freddie Mac FRE.N, the No. 2 U.S.  mortgage finance company, said on Monday it will no longer  serve as a broker dealer in the multi-trillion-dollar mortgage  bond market, a move some said is designed to lower risk and  placate regulators.
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Business & money: Three lenders pull 'irresponsible' mortgages after Northern Rock comes under fire over similar deals
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Shares down after company shutters home lending operation.
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Morgan Stanley  on Wednesday said it will eliminate 1,000 jobs as it scales back its U.S. residential mortgage operations and closes its British residential mortgage lending business, Advantage Home Loans.
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New Century Financial Corp.  said on Monday it had received letters from several of its lenders, including Bank of America Corp. , seeking remedies for its financial obligations.
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Lenders are pulling deals for 100%-plus mortgages, leaving first-time buyers with a financial headache.
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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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Investment bank Lehman Brothers Holdings Inc  on Thursday said it would stop wholesale mortgage lending amid a continued slump in credit and housing markets, a move that will impact 1,300 jobs and result in a $40 million charge.
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Countrywide Financial Corp. , the largest U.S. mortgage lender, on Friday told its brokers to stop offering borrowers the option of no-money-down home loans, according to a document obtained by Reuters.
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New Century Financial Corp.  on  Tuesday said the U.S. Securities and Exchange Commission is  investigating the subprime mortgage lender, after the agency  recently asked to meet with management to discuss its  accounting.
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Investment bank Lehman Brothers Holdings Inc  on Thursday said it would stop U.S. wholesale mortgage lending because of a continued slump in credit and housing markets, a move that will cut 1,300 jobs and result in a $40 million charge.
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Stop financing your lender's lifestyle, and keep more money for yourself.
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New Century Financial Corp.'s  shares fell by more than one-third on Thursday amid market speculation it would seek bankruptcy protection, a day after activist hedge fund manager David Einhorn quit the subprime lender's board.
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The mortgage brokers, traders and bankers who took in big bucks steering customers into subprime loans should not be allowed to slink offstage without recognition.