He built Countrywide Financial into the country’s largest mortgage lender, but its increasingly risky loans helped precipitate the 2008 financial crisis.
Category: Mortgages
-
Bank of England’s Critics Multiply After Interest Rate Increase
Pressure is building in Britain for the bank’s governor, Andrew Bailey, to show that policymakers have a handle on the inflation problem.
-
U.K. Inflation Remains Stuck at 8.7 Percent
The rate, which had been expected to edge lower in May, shows that Britain’s cost-of-living crisis persists, and is likely to prompt the Bank of England to raise interest rates again.
-
China’s Central Bank Cuts Loan Prime Rates
The reduction in the rates, which are used to set corporate loans and home mortgages, signal concern that the country’s post-pandemic rebound is stalling.
-
New Zealand House Prices Have Crashed, Wiping Out Billions in Wealth
In New Zealand, high interest rates have sent property prices sliding nearly 18 percent since November 2021.
-
What Fed Interest Rate Moves Mean for Mortgages, Credit Cards and More
Savers benefit from higher rates, but borrowers have faced bigger bills on credit cards, student loans and other forms of debt.
-
Mortgage Transfers Pick Up as a Way to Beat Rising Rates
Real estate agents are pushing sub-3 percent mortgages as an amenity, just like marble countertops or a view of the mountains.
-
I Won $50,000 From a Scratch-Off Lottery Ticket and Bought a House
Sydney Bean was young, broke and tolerating a bad roommate to make ends meet. Then she won the lottery.
-
What New Mortgage Fees Will Mean for Buyers With Good and Bad Credit
Changes to fees applied to federal mortgages have led to a misconception that borrowers with low credit scores will pay less at the expense of borrowers with good credit.
-
What Fed Rate Increases Mean for Mortgages, Credit Cards and More
Savers will benefit and borrowers can expect to pay more on credit cards, student loans and other forms of debt.
-
First Republic Bank Is Sold to JPMorgan: What to Know
First Republic is the second-largest bank by assets to fail in U.S. history. Here are some answers to questions you may have about what comes next for the bank and for depositors’ money.
-
First Republic Is Sold: What to Know
First Republic is the second-largest bank by assets to fail in U.S. history. Here are some answers to questions you may have about what comes next for the bank and for depositors’ money.