Posts tagged subprime

• How We Got into this Mortgage Mess

  Paul Kiesel | July 07, 2008 5:43 PM | 1 CommentLos Angeles, CA Category: Miscellaneous
  

  Over the last 15 years, there have been five "avoidable events" stemming from Wall Street's or Congress' actions (or inaction), that led directly to the mortgage crisis. 1. Newt Gingrich and the...

• Truth in Lending Ruling Could Jolt Banking Industry

  Paul Kiesel | July 07, 2008 2:51 PM | 2 CommentsLos Angeles, CA Category: Miscellaneous
  

  A lawsuit that was filed by a Wisconsin couple in 2005 against mortgage lender Chevy Chase Bank for Truth in Lending Act violations (TILA) is set to get a ruling any day now. If the ruling by the...

• California Senate Passes Key Mortgage Bill

  Paul Kiesel | July 03, 2008 5:57 PM | 1 CommentLos Angeles, CA Category: Miscellaneous
  

  The California Senate passed the first major bill that is designed to help prevent more home foreclosures and it is being sent to the governor. Gov. Schwarzenegger is expected to sign the measure...

• IndyMac and Fed Working Together

  Paul Kiesel | July 02, 2008 8:44 PM | 0 CommentsLos Angeles, CA Category: Miscellaneous
  

  IndyMac, in a securities filing late Monday, said that is is working with U.S. regulators on a plan to shore up the company's safety and soundness. However, other than their statements on raising...

• Will IndyMac Get a Bailout, Too?

  Paul Kiesel | July 01, 2008 8:31 PM | 0 CommentsLos Angeles, CA Category: Miscellaneous
  

  The Center for Responsible Lending released evidence yesterday, June 30, that IndyMac put itself in a hole by, "engaging in unsound and abusive lending during the nation's mortgage boom," (Center...

• Fed Backed Bear Stearns Deal to Prevent a "Contagion"

  Paul Kiesel | June 27, 2008 3:49 PM | 0 CommentsLos Angeles, CA Category: Miscellaneous
  

  On Friday, the Federal Reserve released documents showing why, in March, it chose to save Bear Stearns from bankruptcy. Ultimately, the Fed felt compelled to do something because of fear that...

• IndyMac may be the Next Mortgage Lender on the Brink of Failure

  Paul Kiesel | June 26, 2008 8:28 PM | 1 CommentLos Angeles, CA Category: Miscellaneous
  

  U.S. Senator Charles Schumer asked U.S. regulators to analyze the financial health of Indymac, as Schumer believes the company may be on the brink of failure. The FDIC, the Office of Thrift...

• 75% of Americans and a Growing Number of Republicans Blame Bush for Failed Economic Policies, Foreclosure Crisis

  Paul Kiesel | June 26, 2008 7:33 PM | 0 CommentsLos Angeles, CA Category: Miscellaneous
  

  There has been a sharp increase in economic pessimism over the last year, and three out of four Americans blame President Bush for ushering in one of the more turbulent economic periods,...

• UBS Misled Customers

  Paul Kiesel | June 26, 2008 4:32 PM | 0 CommentsLos Angeles, CA Category: Miscellaneous
  

  Two subsidiaries of the Swiss bank UBS, earlier today, were accused of misleading investors about how safe auction rate securities were. The complaint was filed by William Galvin, Massachusetts' top...

• California and Illinois AGs Sue Countrywide Over Mortgage Loans, Borrowers Misled

  Paul Kiesel | June 25, 2008 3:22 PM | 1 CommentLos Angeles, CA Category: Miscellaneous
  

  California Attorney General Jerry Brown filed a complaint today in Los Angeles state court claiming that Countrywide Chief Executive Officer Angelo Mozilo and a unit specializing in loans to...