Mortgage and Financial News From 2007-9-21 Page 9

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  • Subprime's biggest of the big

    Boston Online - HSBC Holdings Inc. was the biggest of the subprime lenders -- $52 billion in 2006 -- according to Inside B&C Lending, which tracks the mortgage industry. And HSBC announced today that it, like dozens of companies before it, is closing its US subprime ...
    2007-09-21 12:52:00

  • Mortgage company makes good on bad checks

    Frederick News-Post - Mortgage companies pay 60 percent of the county’s 90,000 tax bills through an escrow system, and the treasury department is wondering how escrowed payments got tied up in a bankruptcy. “I would love an explanation as to what’s going on and why ...
    2007-09-21 01:28:00

  • HSBC Puts Down Subprime Unit

    Forbes - But mortgage companies, which have enjoyed explosive growth in the last few years, are the hardest hit. Countrywide Financial (nyse: CFC - news - people ), which got a $2 billion bailout from Bank of America (nyse: BAC - news ...
    2007-09-21 01:28:00

  • HSBC to Close U.S. Subprime Mortgage Unit, Cut Jobs (Update4)

    Bloomberg - That statement, followed by similar actions by other lenders, helped to trigger a rout in the shares of mortgage companies and mortgage-backed bonds this year. Staff Reductions HSBC, which employs 56,000 people in North America ...
    2007-09-21 01:00:00

  • HSBC to Close U.S. Subprime Mortgage Unit, Cut Jobs (Update1) (Bloomberg.com)

    Sept. 21 (Bloomberg) -- HSBC Holdings Plc said it will close its Decision One subprime mortgage unit in the U.S., eliminating 750 jobs. Employees in Fort Mill, South Carolina, Phoenix and Charlotte, North Carolina, will be affected, London-based HSBC said in a statement today.
    2007-09-21 09:04:34

  • HSBC to Close U.S. Subprime Mortgage Unit, Cut Jobs (Update2) (Bloomberg.com)

    Sept. 21 (Bloomberg) -- HSBC Holdings Plc, Europe's biggest bank, said it will close its Decision One subprime mortgage unit in the U.S., eliminating 750 jobs.
    2007-09-21 09:34:52

  • HSBC to Close U.S. Subprime Mortgage Unit, Cut Jobs (Update4) (Bloomberg.com)

    Sept. 21 (Bloomberg) -- HSBC Holdings Plc, the U.K. bank that was among the first to disclose soured U.S. home loans seven months ago, will shut its Decision One subprime mortgage unit and eliminate 750 jobs.
    2007-09-21 01:04:33

  • Lending fixes pledged for minority buyers

    Greenville News - Living in an apartment as a single parent in Simpsonville, she eventually got a loan through a mortgage broker for a $120,000 home. But she had to carry two mortgages with terms that amounted to a 12 percent loan, Walker said. "I couldn't understand ...
    2007-09-21 02:58:00

  • Broker Action For Friday, Sept. 21

    Forbes - Business News Bulletin Broker Action For Friday, Sept. 21 Evelyn Rusli , 09.21.07, 12:06 PM ET ... Despite some mortgage losses, the highly diversified firm advanced on the strength of its financial advisory business. A USB ...
    2007-09-21 09:32:00

  • Battlers' super pays mortgages

    The Australian - This week, he agreed to sell his flat by the end of next month to pay out his mortgage broker. If he gets the price the real estate agents are promising -- perhaps $240,000 -- he hopes to walk away with $70,000 and a "chance to start again". ...
    2007-09-21 07:52:00

  • Upper St. Clair mortgage broker pleads guilty in loan scheme

    Pittsburgh Post-Gazette - An Upper St. Clair woman who was running her own mortgage brokerage pleaded guilty yesterday to conspiracy and money laundering. Tiffany L. Sprouts, 27, admitted to falsifying mortgage documents and using straw purchasers to buy at least six ...
    2007-09-20 09:29:00

  • THE NEW AOL NEWS

    AOL - NEW YORK (Reuters) - Some 57 percent of mortgage broker customers with adjustable-rate loans were unable to refinance into a new loan to avoid higher monthly payments in August, a national survey reported on Tuesday. The poll of 1,744 brokers in the ...
    2007-09-21 11:27:00

  • Mortgage pros leaving market amid upheaval

    Minneapolis-St Paul Business Journal - Aside from the subprime lending collapse and the tanking housing market that are gripping the entire nation, a state predatory lending law went into effect Aug. 1 that made it harder (and more expensive) to be a mortgage broker in Minnesota. Mortgage ...
    2007-09-21 09:18:00

  • Upper St. Clair broker pleads guilty in mortgage scam

    Times-Leader - A Pittsburgh-area mortgage broker is guilty of faking documents and using straw purchasers to buy at least six properties. Twenty-seven-year-old Tiffany Sprouts of Upper St. Clair pleaded guilty Thursday to conspiracy and money laundering in U.S ...
    2007-09-21 05:07:00

  • National City Mortgage references housing troubles for Redding exit

    Record Searchlight - Harold Broughton, an independent mortgage broker in Redding, stated the obvious Thursday when he said it's a tough time to be in the business. Since late last year, 157 major U.S. lenders have gone belly-up, according to the Mortgage Lender Implode-O ...
    2007-09-21 10:29:00

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