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Housing

A swift reversal of fortune

by Bob Moon
Aug 22, 2007
Relative calm has settled in the stock markets. But there are still some unsettling noises coming from the housing and mortgage industries. Recently, tens of thousands of people in the lending business have lost their jobs. Bob Moon reports.
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Market taking toll on builders

by Marketplace Staff
Aug 22, 2007
The effects of the subprime crash and ensuing credit crunch have officially rippled over to home builders. Construction of new homes dropped 6.1 percent in July, falling to its lowest level in more than a decade. Amy Scott reports.
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Construction jobs hang on

by Dan Grech
Aug 22, 2007
The housing bubble has burst and new home construction has slowed dramatically, but a new study shows that Hispanic construction workers have managed to keep finding work. Though maybe not as much. Dan Grech explains.
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Dear Kai, Countrywide needs your cash

by Kai Ryssdal
Aug 21, 2007
Kai Ryssdal got an invitation from Countrywide in his mail, urging him to apply for a 40-year mortgage. This piqued his interest, since Countrywide's reported to be teetering on the brink of bankruptcy. He got mortgage broker Seth Asher to explain.
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Another mortgage business goes down

by Scott Jagow
Aug 21, 2007
Layoffs at Countrywide made headlines yesterday, even as the company took out full-page newspaper ads to say everything's going to be OK. Meanwhile, Capitol One decided to quit the wholesale mortgage business. We asked Ben Steverman for a reality check.
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Lenders look for ways to raise cash

by Stacey Vanek Smith
Aug 20, 2007
Three large mortgage lenders -- Luminent, Thornburg and Countrywide -- reported steps they are taking in their attempts to recover from the liquidity crisis. Stacey Vanek-Smith has the details.
Foreclosure sign
Getty Images
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Fed's action gives markets some relief

by Jill Barshay
Aug 17, 2007
The Fed today cut the discount rate -- what banks pay to borrow from the Fed -- by half a percentage point. Banks use it only when they're in a bind. Like the one they've been in the past couple of weeks. Jill Barshay reports.
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The official line: You're on your own

by Bob Moon
Aug 16, 2007
Treasury Secretary Henry Paulson and the head of the Federal Reserve bank in St. Louis had basically the same message today -- despite the market unease, there's no plan for government intervention. Bob Moon has more.
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Jumbo loans feel subprime weight

by Stacey Vanek Smith
Aug 15, 2007
Some in Congress and the mortgage industry want the government to allow Fannie Mae and Freddie Mac to buy up bigger loans. So far, no deal. Stacey Vanek-Smith reports on how that's affecting potential homebuyers in some of the country's most expensive housing markets.
Entryway of $2.7 million house
Stacey Vanek-Smith
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What score do rating agencies get?

by Tess Vigeland
Aug 15, 2007
There are lots of bogeymen in the subprime crisis -- lenders, brokers, investors, even homeowners. And here's another one: credit rating agencies. Kim Clark of U.S. News and World Report explains their role.
Foreclosure sign
Getty Images
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