Mortgage Foreclosure & Refinance Resource

The F.B.I. has opened investigations into 14 corporations as part of a crackdown on improper subprime lending, agency officials said on Tuesday. Separately, Bear Stearns, Goldman Sachs and Morgan Stanley said government investigators were seeking information from them about their subprime mortgage activities. But it was not immediately clear if the disclosures by the [...]

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Bear Stearns reported a steep loss for its fourth quarter, its first ever in its eight-decade history. The investment bank said it lost about $854 million, or $6.90 a share. Bear Stearns also said it had written down $1.9 billion of its holdings in mortgages and mortgage-based securities, up from the $1.2 billion it had [...]

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Lehman Brothers gross fourth-quarter writedown was $3.5 billion. Residential mortgages and related assets accounted for $2.2 billion of that figure, and the rest came from commercial mortgages. According to analysts Lehman, avoided larger losses they predict for Wall Street rivals Morgan Stanley and Bear Stearns Cos. will report next week.

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