GM sells part of mortgage division (Kansas City Star)
DETROIT ? General Motors Corp. said Thursday that it sold a majority interest in its commercial mortgage division in a deal worth $9 billion.
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A 'No-Fee' Mortgage That Might Be for Real (Washington Post) Home loan industry competitors are searching for hidden gimmicks, but Bank of America insists that its "no-fee mortgage plus" plan announced this week delivers exactly what the name implies --
Economy minister: Japan closely monitoring US economy, subprime mortgage crisis impact (AP via Yahoo! Singapore News) Japan needs to keep an eye on the impact of the subprime mortgage crisis on the American and Japanese economies, Economy Minister Hiroko Ota said Tuesday.read more...
IBM to acquire Bergen firm that aids mortgage lenders (NorthJersey.com) An Englewood Cliffs firm that provides technical support to mortgage lenders has agreed to be acquired by IBM.read more...
Countrywide Sued by California, Illinois, Over Mortgage Loans (Bloomberg.com) June 25 (Bloomberg) -- Countrywide Financial Corp. , the mortgage lender that lost $2.5 billion amid rising defaults and foreclosures, was sued by California and Illinois for allegedly luring borrowers
BoE denies proposing to buy mortgage securities (Deepika) LONDON, March 22 (Reuters) The Bank of England denied a report in the Financial Times on Saturday that it was proposing using public funds to make mass purchases of mortgage-backed
Investment banks/mortgage lenders (Financial Times) Getting the wrapping right can only get you so far. That, roughly, is the rationale for the continuing rush of investment banks to scoop up mortgage lenders.read more...