The Gazette (Montreal)

CIT to shed $10 billion mortgage assetsReuters - 17 hours agoN: Quote, Profile, Research) said on Tuesday it agreed to sell nearly $10 billion of mortgage assets, in a deal that removes problem loans from the …CIT Rises on $1.8 Billion Sale of Mortgage Units (Update2) BloombergLone Star Funds of Dallas buys more subprime […]

Legal team, leadership shaken up at Mortgages Ltd.Arizona Republic, AZ - 14 hours ago2, 2008 12:00 AM Greenberg Traurig will step down as general counsel in Mortgages Ltd.'s bankruptcy proceedings under an agreement the real-estate financier …

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BBC News

Mortgages: Home loan approvals plunge 64% as price fall gathers paceguardian.co.uk, UK - Jun 30, 2008Mortgages approved for house purchases […]

Eagan mortgage company owner pleads guilty to fraud, ID theftMinneapolis Star Tribune, MN - 7 hours agoAn Eagan mortgage company owner pleaded guilty to defrauding several financial institutions out of about $1.8 million and using some of the money to buy …

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ITV.com

UK mortgage approvals collapse to record low of 42000Independent, UK - Jun 30, 2008By Sean O'Grady, […]

For some firms that dabbled in real-estate lending, the stock market’s advice seems to be: “Run away at any cost.” As CIT Group ( CIT ) and H&R Block ( HRB ) demonstrate, investors are rewarding once-diversified companies that ditch all Read More
Gov. Mike Easley called on state lawmakers Tuesday to […]

NEW YORK — CIT Group Inc. said Tuesday it agreed to sell nearly $10-billion (U.S.) of mortgage assets, in a deal that removes problem loans from the commercial lender’s balance sheet and lifted its shares 14 per cent in premarket trading. CIT Read More
Florida Attorney General Bill McCollum is set to […]

CHARLOTTE – Beleaguered consumer bank Wachovia Corp. said Monday it will quit offering a mortgage payment option that allows borrowers to pay less each month than the bank charges in interest. The choice to pay less was one of the options of Read More
CHARLOTTE, N.C. (AP) — Beleaguered consumer bank Wachovia […]

A celebrity chef was planning the menus, brides were negotiating room rates and 250 staffers were on the payroll. But four months before Hotel Monroe was scheduled to open, its lender went bankrupt. Now it could be at least a year before the 150-room Read More
We have seen the banks collapse […]

Mortgages Rise SlightlyWall Street Journal - Jun 26, 2008WASHINGTON — Home-mortgage rates drifted up this week, with adjustable-rate mortgages climbing the most, Freddie Mac reported Thursday. …

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Embattled lender looks to Sarver's companyArizona Republic, AZ - 17 hours ago29, 2008 12:00 AM Financing from Phoenix Suns majority owner Robert Sarver's real-estate company could help bankrupt Mortgages […]

Everywhere you turn, the news on the economy seems dire. Oil prices are through the roof, home prices are through the floor, the stock market’s plunging, and the entire U.S. economy seems shaky. Here’s a look at what’s going on, why and when we’ll Read More
NEW YORK June 29, 2008, 02:51 […]

Shaky loans on lenders’ books are rising at a faster pace than the reserves that banks are setting aside to cover potential losses. In Illinois, 45 percent of banks and thrifts with non-performing loans don’t have enough reserves to cover those Read More
When Congress started fashioning a sweeping rescue package for […]