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Lawmaker seeks group liability for rating agencies (AP)

Posted on September 30th, 2009
AP - A key House lawmaker wants to make credit rating agencies — widely criticized for failing to give investors adequate warning of the risks in subprime mortgage securities that triggered the financial crisis — collectively liable for inaccuracies.

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Lawmaker seeks group liability for rating agencies (AP)

Posted on September 30th, 2009
AP - A key House lawmaker wants to make credit rating agencies — widely criticized for failing to give investors adequate warning of the risks in subprime mortgage securities that triggered the financial crisis — collectively liable for inaccuracies.

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Report: 1 in 3 loan applications denied (AP)

Posted on September 30th, 2009
AP - Nearly one in three borrowers who applied for a mortgage last year was denied as lenders kept their standards tight as the mortgage crisis accelerated, the government reported Wednesday.

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Homeowners in financial trouble often redefault (AP)

Posted on September 30th, 2009

FILE - In this May 28, 2009 file photo, a foreclosed home is shown in Mountain View, Calif. Lenders are ramping up efforts to avoid home foreclosures, but a report by bank regulators said Wednesday, Sept. 30, 2009, more than half of borrowers who get help fall behind again. (AP Photo/Paul Sakuma, file)AP - Lenders are ramping up efforts to avoid home foreclosures, but a report by bank regulators says more than half of borrowers who get help fall behind again.


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U.S. Q2 home foreclosures, mortgage delinquencies up (Reuters)

Posted on September 30th, 2009
Reuters - The number of home foreclosures in process and delinquent mortgages rose during the second quarter, while home retention actions also increased, U.S. bank regulators said on Wednesday.

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Mortgage demand falls despite lower rates (Reuters)

Posted on September 30th, 2009
Reuters - U.S. mortgage applications fell last week despite the lowest loan rates in four months, the Mortgage Bankers Association said on Wednesday, in another sign that housing will likely recover slowly from its three-year plunge.

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CIT’s future in question ahead of lender meeting (AP)

Posted on September 29th, 2009
AP - CIT Group Inc.'s shares soared Tuesday on a report that hedge fund manager John Paulson is considering merging the troubled finance company with failed mortgage lender IndyMac Federal Bank. But they plunged after-hours as a separate report said CIT is preparing a debt swap offer that could wipe out taxpayers' investment or could file for bankruptcy protection.

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