2nd-largest subprime lender stops accepting applications - 2007-03-09
Subprime mortgage lender New Century Financial Corp. said Thursday it has halted accepting all new loan applications as it struggles to get financing amid market speculation that the company could file for bankruptcy.
Besides deteriorating credit quality, the nation's second biggest subprime lender faces investor lawsuits and an investigation by federal prosecutors into trading of the company's stock.
Read the full story at Pioneer Press

Refinance mortgage fraud targeted by FBI, lenders group - 2007-03-09
Warning that mortgage and refinance mortgage loan fraud is expanding at an alarming rate, the FBI and the Mortgage Bankers Association agreed Thursday to cooperate in a partnership to protect lenders and home buyers. "Fraud against lenders is a growing problem that affects everyone throughout the mortgage process, from the lenders themselves through the brokers and appraisers to the consumers and the communities we invest in," bankers association Chairman John M. Robbins declared.
Read the full story at Bend Weekly