The loan blog

Lender pulls plug as US loans crisis spreads to prime sectorTimes Online, UK -3 hours agoThe lender was forced to pull $300 million (£147 million) of home loans already agreed on Monday and was preparing to break its agreement on up to $500 …Corporate Bond Risk Falls by Record, Halting Three-Day RoutBloombergall 86 news articles More: continued [...]

Earthtimes.org American Home ConfirmsWall Street Journal -9 hours agoAmerican Home relies on short-term bank financing to temporarily fund its home loans. If it doesn't have cash on hand to meet banks' demands, it may have to …American Home Mortgage tumbles on liquidity issuesSan Diego Union TribuneAmerican Home Shares DelayedWall Street JournalAmerican Home Mortgage meltdownGlobe and MailFinancial [...]

Reuters IndyMac's Net Falls; Shares Surge on Credit Strength (Update6)Bloomberg -9 hours ago2 independent US mortgage lender, said profit declined as more borrowers fell behind on payments and it made less from selling loans to investors. …IndyMac 2Q Earnings FallForbesIndyMac earnings fall 57%Inman.com (subscription)IndyMac Up on Surprising EarningsLos Angeles Business Journal (subscription)Reuters.uk - CNNMoney.comall 38 news articles [...]

Turkish Press Macquarie Says Fortress Funds Value May Fall 25% (Update3)Bloomberg -3 hours agoFunds like Fortress, with loans to people with good credit, are losing value as buyers flee the debt market. “The concern is that the contagion looks like …Australia's Macquarie Bank says two investment funds face lossesForbesMacBank: brace for sub-prime lossThe AustralianMacquarie Says Fortress [...]

American Home can't fund loans, may liquidate assetsReuters.uk, UK -9 hours agoN: Quote, Profile , Research), a struggling mortgage lender, said on Tuesday it can no longer provide funding for home loans and has hired advisers to …American Home Can't Fund Loans, May Liquidate Assets (Update1)BloombergAmerican Home Can't Fund Mortgages, Shares Plummet (Update4)BloombergAmerican Home says may liquidate [...]

CNNMoney.com Jittery Stock Market Drops as Mortgage Fallout SpreadsNew York Times, United States -2 hours agoAlt-A loans are made to borrowers with good credit scores but who were either engaged in speculating or had flaws in their credit histories. …UPDATE 1-Bear Stearns halts redemptions in third hedge fundReutersReport: 3rd Bear Stearns fund in jeopardyCNNMoney.comBear Stearns Halts Redemptions [...]

FinFacts Ireland American Home Mortgage: Continued Carnage from Mortgage Security …Seeking Alpha, NY -16 hours agoAt the moment the company is “evaluating how the weak mortgage market will affect it”, which probably means recalculating the value of its mortgages and …AHM Struggles to Raise MoneyHouston ChronicleMore Lenders Feeling Pain From DefaultsNew York Timesall 32 news articles More: [...]

Earthtimes.org American Home Can't Fund Mortgages, Shares Plummet (Update4)Bloomberg -6 hours agoInvestment banks cut off credit lines, leaving American Home without money yesterday for $300 million of mortgages it had already promised, the Melville, …American Home Can't Fund Loans, May Liquidate Assets (Update1)BloombergAHM Woes Drag Wall StreetForbesAHM Struggles to Raise MoneyForbesInternational Herald Tribuneall 451 news articles [...]

Banks cut deposit rates, short-term loans not easy any moreCNN-IBN, India -17 minutes agoThe banks will no longer be in a position to offer short-term loans at discounted rates as part of the liquidity has being withdrawn by the RBI. … More: continued here

Court Rules Against High-Cost LoansForbes, NY -1 hour agoBy MARK SCOLFORO 07.31.07, 6:32 PM ET Payday lender Advance America violated Pennsylvania consumer law by providing loans of as much as $500 to people in …Banking Department Calls Commonwealth Court Ruling a Victory for …Earthtimes.orgall 13 news articles More: continued here