Springleaf Finance Inc., the subprime lender owned by Fortress Investment Group, has hired restructuring lawyers as its effort to resuscitate a once-hot market has yet to pay off.
WASHINGTON (MarketWatch) — Subprime mortgages and the housing bubble were the trigger while high leverage, unstable funding and deficient risk management and supervision were the vulnerabilities that led to the financial crisis, Federal ...
A shakeout in the storefront-loan business may make credit even tighter for millions of borrowers with less-than-stellar credit histories. Not long ago, their options were abundant, as seen at a Garden City, N.Y., shopping center where a ...
Goldman Sachs Group Inc., J.P. Morgan Chase & Co. and Wells Fargo & Co. have been told U.S. securities regulators may sue them in civil court over allegedly shoddy disclosures of the risks of subprime mortgage bonds tied to the ...
WASHINGTON (MarketWatch) — The cause of the housing crisis wasn’t the financial industry deceiving mortgage borrowers and investors but instead overly optimistic beliefs about house prices, according to a research paper released by the ...
VANCOUVER, B.C. (MarketWatch) — Is there a housing bubble in Canada? It sometimes looks like it, judging by the eye-popping prices I saw being asked for condos in this city’s fashionable West End.
Demand for vintage subprime debt continues to rear its head. The Federal Reserve Bank of New York announced that it just sold the last of its portfolio of mortgage bonds once owned by American International Group. A unit of Credit Suisse ...
Japanese banks face a tricky problem: how to grow when the domestic market suffers from weak demand and a shrinking population? For most, the solution lies overseas. Japanese lenders, not known for their global footprint, are snapping up ...
The board of Ally Financial Inc.'s ailing mortgage unit is expected to meet Sunday to authorize a bankruptcy filing, said people familiar with the situation.
HONG KONG (MarketWatch) — China may be succeeding in its two-year effort to cool the housing market without crashing it, as some experts see trends of an ongoing consolidation in house prices, but not a U.S.-style subprime accident.
More than three years after their September 2008 government takeover, mortgage giants Fannie Mae and Freddie Mac are back in the news. Just last week, the inspector general of the Federal Housing Finance Agency, which regulates the pair, ...
A New York appeals court tossed out on Tuesday a key argument in an early lawsuit related to the implosion of U.S. subprime-mortgage market.
WASHINGTON (MarketWatch) — Senators on Wednesday criticized a recent $335 million settlement between the Justice Department and Bank of America Corp. over alleged discriminatory lending practices by the big bank’s Countrywide Financial ...
WARSAW (MarketWatch) — If Poland is a proxy for emerging European economies, it’s no wonder the Warsaw Stock Exchange sees itself as a symbol of the country’s economic transformation since the fall of communism more than two decades ago.