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HSBC YOWLS AS ROSS PROWLS
New York Post - HSBC, Europe’s largest bank, has made major inroads to American banking, but said yesterday it would shut its mortgage unit that made home loans to Americans with weak credit histories. HSBC said it will also sack 750 people who work at its subprime
Source: www.nypost.com

Its glory days gone, Mountlake Terrace lender sold in pieces
Everett Herald - That year, the company funded more than $4 billion in mortgage loans, ranking it among the top subprime lenders in the country. But by 2006, the company had to scale back its staff. And just ahead of the credit crunch in the lending industry that would
Source: www.heraldnet.com

Swiss banks set for modest net profit growth - banking association
CNBC - The study also showed that there has been a slight slowdown in demand for mortgage loans in Switzerland. “At the end of 2006, 82 pct of loans in Switzerland were mortgages ( ) amounting to 483.4 bln sfr,” the study said. “By the start of 2007, demand
Source: www.cnbc.com

On Wall Street: An unhealthy faith in the Fed’s problem solving
MSN MoneyCentral - Whatever the Fed does, the “structured product” market where bankers performed their now infamous alchemy on subprime mortgage loans is just not going to provide anything like the wave of cheap credit it once did. That all feeds through into
Source: news.moneycentral.msn.com

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This entry was posted on Saturday, September 22nd, 2007 at 2:11 pm and is filed under Online Mortgage Tips. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.