Rumors of imminent bankruptcy swirled around Countrywide Financial Corporation for much of the day on Tuesday resulting in a 27.4 percent drop in the company's stock and contributing to the huge slide in the Dow Jones Industrial Average. Countrywide, the nation's largest mortgage lender, denied that...
Mortgage News Daily received a tip from a reader over the weekend that yet another mortgage lender has expired. United Pacific Mortgage (UPM), headquartered in Woodland Hills, California, is rumored to have shut its doors, laying off its 95 employees on Friday. According to Hoovers, a Dow Jones Company...