Subprime Probe Launched by FBI

January 30, 2008

With all of the current attention being paid to the subprime-mortgage lending crisis it really comes as little surprise to find 14 Companies on the FBI table for investigation into their lending practices. And while they didn’t directly identify the companies under criminal investigation, the did say they are looking into allegations of fraud in various stages of the mortgage process from companies that bundled the loans into securities to the banks that ended up holding them.

Sounds like good start… and it’s about time! Read more>>

Sallie Mae faces claims of discrimination in student loans

January 24, 2008

No stranger to investigations and financial problems over the past year, student loan mega-lender Sallie Mae now faces charges that its lending practices discriminate against minority students. Read more

Bank of America Buys Countrywide for $4B

January 11, 2008

Bank of America said Friday it will purchase mortgage lender Countrywide Financial in an all-stock deal worth approximately $4 billion. Each share of Countrywide will be exchanged for 0.1822 shares of Bank of America. Read more