Securities Fraud Attorney Urges Elderly Investors to Beware Aggressive Brokers Bearing Mortgage Backed Securities Securities Fraud Attorney Mark Tepper who represents investors deceived by abusive broker sales practices, says shareholders should be wary of brokers who sell financial products known as Collateralized Mortgage Obligations , some of which are volatile and unsuitable for unsuspecting investors.
More U.S. states accuse New Century Californias beleaguered subprime mortgage lender New Century Financial Corp. said Monday four additional states ordered it to stop doing business in them.
U.S. Mortgage Firms Rise as Fremont Gets Credit Line March 16 (Bloomberg) -- Shares of U.S. mortgage companies rose for a third day as Fremont General Corp., the third-biggest provider of subprime loans through brokers, said Credit Suisse AG increased its line of credit to the company to $1 billion.
Some subprime woes linked to hodgepodge of regulators Andy Sobel is selling his San Diego condo for $60,000 less than he owes on his mortgage. Hes six months behind on his payments, but its all he can do to avoid foreclosure. Hes also writing to Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee.
Accredited Faces Delisting; States Bar New Century March 19 (Bloomberg) -- Accredited Home Lenders Holding Co. may lose its stock listing and more states moved to bar New Century Financial Corp. from doing business as regulators added to pressure on the two subprime mortgage companies.
Subprime lenders face new pressure Actions target two companies Accredited Home Lenders Holding Co. may lose its stock listing and other states have moved to bar New Century Financial Corp. from doing business as regulators added to pressure on the two subprime mortgage companies.
Accredited May Lose Nasdaq Listing on Missed Filing March 19 (Bloomberg) -- Accredited Home Lenders Holding Co., the U.S. mortgage lender whose shares have fallen more than 60 percent this year, may lose its Nasdaq Stock Market listing because the company failed to file an annual report on time.
Housing nightmare tarnishes the American dream Jillayne Schlickes father used to tell her that mortgage banking was the highest calling of all because it involved helping people live the American dream of homeownership.
Distressed parts of the nation feel foreclosures most WASHINGTON — The big question is: How bad will it get? So far, the rising mortgage defaults that panicked markets last week have been concentrated in areas of the country already reeling from layoffs in the automobile industry and in hurricane-stricken states on the Gulf Coast.
Realty Q&A: Mortgage lenders defend no-cost refinancing WASHINGTON (MarketWatch) -- This column hit the mother lode with last weeks answer to reader Brent Roundtrees question regarding no-cost mortgages. My response all but vilified yield spread premiums, which is the name given to the back-end fee funding lenders pay originating brokers for loans with interest rates that are above the market. See previous Realty Q&A.
