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The Minister for Finance Michael Noonan has confirmed that 56% of the home sub-prime mortgage book is in arrears of 90 days or more," he said.
A German bank is suing JP Morgan Chase & Co (NYSE: JPM) and Bank of America Corporation (BofA) (NYSE: BAC) over sub-prime mortgage securities.
The SEC says Goldman failed to disclose that one of its clients helped create - and then bet against - sub-prime mortgage bonds that the bank sold to investors including Royal Bank of Scotland.
LexisNexis Mealey (New York) has begun the publication of "LexisNexis Financial Services Litigation Report," a new monthly newsletter that covers the sub-prime mortgage crisis and the "next great mega-litigation.
Lehman Brothers, which has been hit by billions of dollars-worth of sub-prime mortgage losses, said it was planning to file for Chapter 11 bankruptcy.
21 /PRNewswire-FirstCall/ -- Diversified Mortgage Workout Corporation (Pink Sheets: DMWK) announces that the company has received several Sub-Prime Mortgage portfolio acquisition proposals ranging in dollar value of between $15,000,000 to $20,000,000 with a face value of approximately $80,000,000 to $100,000,000, representing a discount of 20% to 25%.
Two hedge fund managers yesterday became the first financial executives arrested over the US sub-prime mortgage scandal.
Issues such as high consumer debt, increased interest rates and a riskier approach to lending adopted by some sub-prime mortgage providers could seriously impact on the future of house prices in the UK, research suggested.
Is this the start of a consumer borrower credit crunch spawned by the lending debacle now coming home to roost in the sub-prime mortgage market?
At the end of 2006, the future of the UK sub-prime mortgage market looked bright.
RBS is to get a USD100m payout as it is considered to be the biggest victim of the alleged sub-prime mortgage fraud that Goldman Sachs is settling with the SEC.
When the sub-prime mortgage market collapsed, AIG was hit for billions of dollars in insurance claims.