The casualties continue to mount as Lehman Brothers announced today that it will be shutting down its subprime mortgage lending unit, BNC mortgage LLC. BNC was one of the top 20 subprime producers in 2006, originating over $14 Billion in loans. Read More Now
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Uptick in mortgage Rates Not a Result of Subprime Problems
mortgage rates increased in every category last week according to surveys released by Freddie Mac and by the mortgage Bankers Association. Jay Brinkmann, MBA’s vice president of research and economics cautioned that,”Given the current turmoil in the mortgage market, week-to-week changes in the purchase applications index should be treated with… Read More Now