In third quarter reports filed today with the Securities and Exchange Commission, both MGIC Investment Corp. and Radian Group Inc. said that the securities regulator was investigating a proposed merger and a joint investment made into Credit-Based Asset Servicing and Securitization (C-BASS to the rest of us). From MGIC’s filing: In October 2007, the Division of Enforcement [...]

Freddie Mac today announced its third quarter results, and it’s pretty clear that the troubles in the U.S. housing market have reached well beyond “slump” status into what may now best be described as a crisis. The GSE reported a net loss of $2.02 billion for the quarter, and absorbed both a $1.2 billion provision [...]

I don’t usually highlight every class action pendency filed these days against a publicly-held or traded financial or mortgage industry firms, but a press release today caught my eye — a California-based law firm is suing a Countrywide securitization trust, Countrywide Capital V, for securities fraud. From the press statement: The Complaint alleges that CCV’s Registration [...]

Less than three weeks after the departure of its CFO, H&R Block, Inc. said this morning that CEO Mark Ernst has resigned as the company looks to restructure amid mounting losses from its subprime lending unit Option One Mortgage Corporation. Here is the full press statement. The Associated Press reports: H&R Block Inc. said Tuesday that Mark [...]

Impac Mortgage Holdings, Inc. said today that it will not file its third quarter earnings statement with the Securities and Exchange Commision as the former Alt-A mortgage giant grapples with a margin call from Bear Stearns and possible future margin calls from other creditors. From the company’s SEC filing: Impac Mortgage Holdings, Inc. (the “Companyâ€?) received a [...]

(November 19, 2007) — Hudson & Marshall is set to auction 200 foreclosed properties in Las Vegas.

Goldman Sachs analyst William Tanona today helped tank Citigroup’s stock, releasing a report that said the financial services provider could write off as much as $15 billion during the next two quarters — and said that Citigroup may need to cut its divident in order to preserve liquidity. As a result, Citigroup’s stock dropped nearly 6 [...]

A Credit Suisse report released today said that Freddie Mac could report losses between $1 billion and $5 billion on its investment-grade subprime securities. From Reuters: “While Freddie’s AAA subprime securities likely have substantial subordination, if the recent credit spread widening does not reverse over the coming quarters, we believe that Freddie could recognize an other-than-temporary impairment [...]

The folks over at First American LoanPerformance released a surprising report today that found most year-over-year housing prices in September 2007 were “stable,” while 17 states displayed declines in YoY housing prices. It’s surprising moreso for how it was positioned than for the data itself, given LP’s reputation as a straight shooter (at least, before [...]

First American CoreLogic is wading further into the list brokering space, saying this morning that it has launched ListSource, a web-based list creation and management platform that will enable consumer marketers, insurers, and mortgage professionals to target specific segments of borrowers. According to a press statement released today, the platform provides the ability to locate new [...]