Fitch tightens criteria for mortgage bond ratings
Reuters - NEW YORK, Aug 6 (Reuters) - Fitch Ratings on Monday said it will assume higher rates of default on U.S. residential mortgage loans when rating securities backed by those loans. The ratings agency said it is making several changes to its ResiLogic
Mortgage defaults soar by 329pc
News.com.au - AUSTRALIA’S insurance regulator has drawn attention to a spike in the number of stressed homebuyers, confirming that claims for mortgage defaults soared by 329 per cent in the year to December. Home lenders lodged claims for $210 million worth of bad
Cooper, Ross ride to the rescue at American Home Mortgage
Houston Chronicle - NEW YORK American Home Mortgage Investment Corp. is down for the count, but at least two prominent businessmen don’t think it’s out. Turnaround specialist Stephen F. Cooper and bankruptcy financier Wilbur L. Ross Jr. are going to take a crack at
Countrywide Tries to Reassure Investors
San Francisco Gate - del.icio.us Countrywide Financial Corp. said Monday it has access to $46.2 billion in cash, credit lines and other investments, a move aimed at reassuring nervous investors the nation’s biggest mortgage lender can weather a market downturn. The
American Home Foundations Is Undone
Forbes - There has been widespread jitters among investors about the cracks in the credit market. On Monday, all those traders were given a new reason to worry. American Home Mortgage filed for bankruptcy protection, ending a week of headline-grabbing bad
Mortgage turmoil forces AHM into bankruptcy
Times Online - American Home Mortgage Corp (AHM), the tenth largest home loan lender in the US, has been forced to file for Chapter 11 bankruptcy protection after falling foul of the country’s worsening sub-prime mortgage market. AHM, which last week reduced its
Kohlberg Capital Reiterates That It Has No Mortgage Debt Exposure
MSN MoneyCentral - NEW YORK, Aug. 6, 2007 (PRIME NEWSWIRE) — In response to recent market events, Kohlberg Capital Corporation (Nasdaq:KCAP) (”Kohlberg Capital”) reiterated today the following: * It has no exposure to mortgage debt (sub-prime or otherwise) or consumer