Countrywide Financial Corp. is reportedly one of more than a dozen companies under investigation by the FBI as it looks into the packaging of subprime loans as securities sold to Wall Street investors. more…
Entries Tagged as 'wells fargo'
Reports: FBI probes Countrywide, other lenders
March 11th, 2008 · Comments Off
Tags: Industry News · Inman Real Estate · Mortgages · african american · countrywide · fbi · latino · securitization · subprime · wells fargo
Fitch lowers ratings of banks with home-equity exposure
March 11th, 2008 · Comments Off
Citing deteriorating performance of home-equity loans, Fitch Ratings has lowered the debt ratings of some big name banks including Washington Mutual, Wells Fargo, National City, Providian Financial and First Horizon, while warning it may take similar action toward Bank of America, Citigroup, Fifth Third Bancorp and SunTrust.
Home-equity delinquency rates are rising at "a far more rapid pace than even most bankers’ and analysts’ grim outlook for 2008 had anticipated," Fitch analysts said. more…
Tags: Industry News · Inman Real Estate · Mortgages · citigroup · delinquency · foreclosure · home equity · national city · wamu · wells fargo