Monthly Archives: October 2007

The largest U.S. mortgage lender, Countrywide Financial Corp. lost $1.2 billion (€830 million) in the third quarter amid the country’s housing woes, but its shares soared it said it expects to be profitable this quarter and next year.It was Countrywide’s … Continue reading →

Mortgage lending has fallen to a seven-year low, as further evidence emerges of a cooling down in the housing market. According to the British Bankers’ Association (BBA), mortgage lending last month plunged by 27 per cent to its lowest September … Continue reading →

Dow Jones newswire reported today that the chief executive of AutoNation Inc. (AN), the nation’s largest auto retailing chain, said Wednesday he expects the housing slump, which has depressed auto sales, to last “at least a year,” but said that … Continue reading →

The main problem, financial and increasingly political, is that millions of subprime mortgage loans will have their rates “reset” in the coming months. Their borrowers are able to meet their monthly payments today at the so-called “starter” loan rate, but … Continue reading →

Reuters news agency reported today that the United States mortgage lenders, brokers and investors would be bound by a new set of consumer protection rules under legislation introduced on Monday by the chairman of the House Financial Services Committee Representative … Continue reading →