Nationstar halts U.S. loans
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Nationstar Mortgage, the subprime unit of Fortress Investment Group LLC , said it is no longer accepting new loan applications from brokers, a signal the lender is winding down operations.
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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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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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New Century Financial Corp. ,  whose shares fell 25 percent on Thursday amid speculation it  would seek bankruptcy protection, said it has received $265  million in financing, but stopped accepting loan applications  after some lenders blocked its credit lines.
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UNITED NATIONS, March 5 -- The U.N. Development Program has suspended its operations in North Korea, saying it cannot carry them out under guidelines that prohibit payments in foreign currency and the employment of local workers handpicked by the North Korean government.
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A plan by US banks to calm down rattled credit markets is dropped shortly before it was due to launch.
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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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The US Treasury Department suspended investments in a federal employee pension fund on Thursday to keep the government below its borrowing limit, Treasury Secretary John Snow said in a letter to Congress.
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NovaStar Financial Inc  said on  Tuesday that it would eliminate 275 jobs and slash direct  mortgage lending to preserve cash after it was forced to cancel  a $101.2 million rights offering, and its shares fell 14  percent.
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Chrysler Corp. on Wednesday postponed  its $12 billion auto loan deal, while Chrysler Financial  Services sweetened the pricing on $6 billion of term loans for  the second time, market sources told Reuters Loan Pricing Corp.
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Big banks have pulled the plug on a Treasury Dept.-backed plan to rescue troubled investment vehicles leveled by the subprime mortgage crisis.
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The government should stop guaranteeing lenders of student loans.
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WASHINGTON, Oct 3 (IPS) - Anti-debt campaigners are hailing as groundbreaking  Monday's decision by Norway to cancel 80 million dollars in  debt owed by five poor nations after it determined that the loans  were not granted in a good faith effort to promote development.
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The moratorium considers nonfinancial companiesâ applications to establish or acquire banks.
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A Treasury-backed plan to stabilize a vital segment of the credit markets has been shelved, the banks involved said yesterday.
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New Century Financial Corp., whose shares fell 25 percent on Thursday amid speculation it would seek bankruptcy protection, said it has received $265 million in financing, but stopped accepting loan applications after some lenders blocked its credit lines.
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The New York Stock Exchange has suspended trading in the common stock of Interstate Bakeries Corp. (IBC.N: Quote, Profile, Research) due to bankruptcy filing by the maker of Twinkies