Zacks Equity Research, Chicago, had downgraded New Century Financial Corp., Irvine, Calif., to "sell," according to highlights of its analyst blog for Feb. 22.In the blog, Zacks said, "While the company is now trading at a significant discount to book value, it appears that the operating environment will continue to get for worse for companies that focus on subprime loans." Zacks added it would issue an update when New Century issues restated earnings for the first three quarters of 2006 in March.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25 -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
April 25 -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
April 25