Real Estate
Bank M&A heats up amid subprime fallout (AP)
AP - The bank branch on the corner might be changing names — again. Get set for the next wave of consolidation that could sweep through the nation's banking industry this year. Chief executives at some of the top regional players might be mulling deals to salvage businesses pummeled by the subprime mortgage market's collapse. Read more…
New York probes Wall St. banks over suprime data: report (Reuters)
Reuters - New York prosecutors are investigating whether Wall Street banks withheld information about the risks stemming from subprime loan-linked investments, The New York Times reported on Saturday. Read more…
Cleveland sues banks over foreclosures (AP)
AP - The city of Cleveland, an epicenter of the nation's home foreclosure crisis, has sued 21 banks and claimed their subprime lending practices created a public nuisance that hurt property values and city tax collections. Read more…
Similar deals expected to follow Countrywide sale (Reuters)
Reuters - Similar deals are expected to follow Bank of America Corp's agreement on Friday to acquire battered mortgage lender Countrywide Financial Corp for a knock-down price of $4 billion in stock. Read more…
Bank of America to buy ailing Countrywide (AFP)
AFP - Bank of America said Friday it was buying Countrywide Financial in a four-billion-dollar deal, rescuing the nation's largest mortgage lender from near-bankruptcy in a housing crisis. Read more…
