NovaStar Financial adopts new name and stock symbol - Kansas City Star

NovaStar Financial adopts new name and stock symbol
Kansas City Star
By changing its name, Novation takes a step further from its days as a subprime mortgage lender. The subprime mortgage industry collapsed with the decline in the housing industry and the onset of the financial crisis. NovaStar ended its mortgage ...

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Wall Street CMBS Allure Fades as Volatility Surges: Mortgages - San Francisco Chronicle

Wall Street CMBS Allure Fades as Volatility Surges: Mortgages
San Francisco Chronicle
Demand had dried up after losses on US subprime home loan bonds sparked the global financial crisis. The number of institutions seeking to package commercial mortgages to sell as bonds ballooned to 25 in December 2010, compared with five a year earlier ...

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FDIC sues big banks over subprime mortgage losses - Deutsche Welle


Deutsche Welle
FDIC sues big banks over subprime mortgage losses
Deutsche Welle
In the lawsuit, the FDIC is acting as receiver for Illinois-based Strategic Capital Bank and Citizens National Bank, which collapsed in May 2009 in the wake of the subprime mortgage crisis. The FDIC alleges the defendants misled investors in the ...

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Finra Fines Citigroup $3.5 Million For Inaccurate RMBS Data - Wall Street Journal


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Finra Fines Citigroup $3.5 Million For Inaccurate RMBS Data
Wall Street Journal
... Industry Regulatory Authority has fined Citigroup Inc.'s (C) Global Markets group $3.5 million for allegedly posting inaccurate data about deals it was making on mortgage-backed securities during the subprime mortgage and housing market crisis.
FINRA Cracks Down on Citi over RMBS Zacks.com

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Dollars and Sense: Euro zone debt crisis could have big impact here - Leavenworth Times


Moneycontrol.com
Dollars and Sense: Euro zone debt crisis could have big impact here
Leavenworth Times
Back in December I wrote that the, “Euro zone debt crisis has an eerie similarity in terms of its affect on the markets to the sub-prime mortgage crisis that came to a head back in 2007-08, which we are still working through. This Euro zone debt crisis ...
The austerity vs. growth argument is hotting up New Statesman (blog)

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TCW Beats 97% of Rivals Led by Gundlach With Housing: Mortgages - BusinessWeek

TCW Beats 97% of Rivals Led by Gundlach With Housing: Mortgages
BusinessWeek
The fund has 37 percent of its holdings in home-loan debt that isn't backed by the US government, including 11 percent in subprime-mortgage bonds, the type of debt that contributed to the 2008 financial crisis. The focus on less creditworthy borrowers ...

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Investors drawn to subprime auto debt - Financial Times

Investors drawn to subprime auto debt
Financial Times
Subprime auto debt after losses during the financial crisis were far less than those suffered by investors in subprime mortgage debt. “In the mortgage sector, subprime has obviously become a bad word,” said John Slonieski, managing director in Credit ...

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TCW Beats 97% of Rivals Led by Gundlach With Housing: Mortgages - San Francisco Chronicle

TCW Beats 97% of Rivals Led by Gundlach With Housing: Mortgages
San Francisco Chronicle
The fund has 37 percent of its holdings in home-loan debt that isn't backed by the US government, including 11 percent in subprime-mortgage bonds, the type of debt that contributed to the 2008 financial crisis. The focus on less creditworthy borrowers ...

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Many now see eurozone in Japan-like 'Lost Decade' - Toronto Star


Toronto Star
Many now see eurozone in Japan-like 'Lost Decade'
Toronto Star
Japan's “Lost Decade” was triggered by a bubble in the real estate and equity markets, while the euro zone's woes have been fuelled by fiscal problems that followed the near-collapse of the banking system after the US subprime mortgage crisis.

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U.S. Bank Earnings Rose 23% on Lower Reserves, FDIC Says - San Francisco Chronicle

U.S. Bank Earnings Rose 23% on Lower Reserves, FDIC Says
San Francisco Chronicle
The FDIC increased bank assessments to replenish the fund, which fell into deficit as the agency resolved hundreds of bank failures stemming from the subprime mortgage crisis. Investors have pushed the 24-company KBW Bank Index up by 11 percent so far ...

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