According to Deutsche Bank AG analysts, losses from the subprime mortgage defaults may reach between $300 billion to $400 billion worldwide. (more…)

Every time economists and Wall Street executives estimate full extent of the damages from the real estate downturn, reports indicate conditions were worse than estimates. (more…)

Countrywide Financial has offered to help refinance or restructure up to $16 billion worth of adjustable rate mortgages through 2008. (more…)

Standard & Poor’s (S&P) cut its ratings on more than $4.6 billion worth of securities backed by subprime mortgages. (more…)

Countrywide announced that its mortgage closings in September are down 44 percent compared to September, 2006. (more…)

According to Standard and Poor’s, “The U.S. subprime housing crisis will not peak until 2009 and total defaults could reach $150 billion.” (more…)

Reports indicate that several parties, including Warren Buffet, are interested in purchasing part of Bear Stearns, the investment bank who has seen a lot of trouble by the sub-prime collapse.  (more…)

Former Federal Reserve Chairman, Alan Greenspan, acknowledged in a recent interview that he was unaware of the impact subprime lending practices would cause. (more…)