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S&P reports mortgage turmoil to worsen in 2008 (CNN Money) The credit rating agency says mortgage bank earnings will suffer next year as the fallout of the subprime debacle continues.read more...
More Defaults Prompt Lenders To Cut Back on Risky Loans Bankers are clamping down on the use of 'piggyback' mortgages, which allow borrowers to finance up to 100% of the purchase price. read more...
Troubled Tucson-based mortgage lender files for bankruptcy (Boston Globe) First Magnus Financial Corp. filed for for Chapter 11 bankruptcy protection Tuesday, less than a week after the Tucson-based national mortgage lender suspended its operations.read more...
Lehman Brothers 1Q profit up 5.6 percent The headquarters of Lehman Brothers, Wall Street's fourth-largest investment bank, is shown Jan.Commentread more...
Valley woman appears in New York Times Shannon Litz/The R-C Erica Hall, 20, stands in the door of the Carson City home she bought with an interest-only loan.read more...
Italy mulls limit to central bank governor's term Italy could propose a fixed term of office for its central bank governor instead of a present life term, a senior minister said following a cabinet meeting that discussed recent