ECC Feels Mortgage Squeeze
Irvine-based subprime lender ECC Capital Corp. is feeling the squeeze from investors and competitors.
via
Minorities getting lion's share of subprime mortgage loans (Chicago Sun-Times) Mortgage lenders in the Chicago area made more high-cost, subprime home loans to African-American borrowers than they did to white borrowers, a survey of lenders in six cities found.read more...
HOPEful Homes read more...
Report: WaMu Close to $5B Infusion Washington Mutual is close to landing a $5 billion cash infusion from private-equity firm TPG and other investors, according to a report Monday in the Wall Street Journal.The U.S.
Citi Shakes Up Its Residential Mortgage Business (NYTimes.com via Yahoo! Finance) Badly bruised by the sharp downturn in the housing market, Citigroup is bringing together all of its mortgage-related activities under one roof.read more...
Lenders Rethink Home-Equity Loans As home values continue to sink some mortgage companies are walking away from delinquent loans instead of foreclosing while some others are getting stingy with borrowers. read more...
Carlyle Group's Rubenstein Scorched by Mortgage Fund's Stumble (Bloomberg.com) March 7 (Bloomberg) -- The collapse of the subprime- mortgage market has engulfed Carlyle Group, the world's second- biggest leverage-buyout firm by assets.read more...