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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A group of mortgage lenders and non-profit organizations have pledged $4.6 million to allow foreclosure prevention counseling agencies in California to hire more staff to deal with strong demand from struggling homeowners, the companies said Monday.
Mortgage counseling agencies statewide can apply for funds from the two-year spending program, dubbed the California Home Ownership Preservation Initiative, [...]

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Merrill Lynch, the nation’s biggest brokerage firm, is expected to announce a $15 billion write-down on soured mortgage-backed securities, far more than analysts expected. Investors took the setbacks as a sign that the financial industry is still reeling from last year’s collapse in the subprime mortgage market. The New York Times reported on [...]

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