A former Credit Suisse banker has been found guilty of fraud after deceiving investors into buying risky investments that led to $1bn (£610m) of losses.
KPMG is being sued for $1bn by creditors of a sub-prime lender for failing to properly audit the collapsed firm.
The Mortgage Times has announced it will offer free valuation and legal services and a range of First National mortgages.
George Bush says the US Congress will pass a proposed bail-out plan for Wall Street banks.
More than two thirds of brokers have been unable to source a mortgage for a client over the past two months.
Washington Mutual (WaMu) bank has been closed and sold to JP Morgan Chase after suffering a bank run during the past fortnight.
Sub-prime mortgage borrowers are facing large increases in their monthly mortgage payments if they cannot secure a new deal, according to Moneyfacts.co.uk.
The number of mortgage products available in the UK has fallen by over two thirds in the past twelve months, according to Moneyfacts.co.uk.
Edeus is offering cash back to selected customers if they repay their mortgage balances.
The majority of mortgage brokers are finding it difficult to find a loan for one or more standard status customers, a survey suggests.
An investigation into credit rating agencies in the US has uncovered major weaknesses in ratings practices, as well as conflicts of interest.
American International Group, the world's largest insurer, has fired chief executive Martin Sullivan.
Mortgage Next has added two specialist lenders to its panel to provide its brokers with a wider range of buy-to-let and sub-prime mortgage products.
Egg, the online banking brand owned by Citigroup, has pulled out of the UK mortgage market from today.
The Intermediary Mortgage Lenders Association (IMLA) has hit out at Lib Dem shadow chancellor Vince Cable for calling the sub-prime mortgage industry unscrupulous over arrears and repossessions.
Swiss banking giant UBS has revealed it will make one of Europe's largest ever rights issue calls, asking shareholders for CHF16m (£7.94bn).
The FSA has fined Thinc Group £900,000 for failures when selling and advising on sub-prime mortgages.
UK banking giant HSBC has been hit with a $3.2bn write-down in Q1 this year, taking its total US sub-prime related losses to over $15bn.
Sub-prime mortgages are still providing business opportunities for UK brokers despite major problems in the US market over the past year, according to BDS Mortgage Group.
Merrill Lynch has been hit with a $1.96bn net loss in Q1 this year, due to a further $4.5bn write-down in sub-prime and other bad debt.
Chelsea Building Society's non-conforming mortgage range is to have certain high-risk products removed, it was announced today.
Future Mortgages has announced it is to reduce maximum loan to value (LTV) ratios across its range of prime and sub-prime mortgage products.
UBS has announced it will write off a further $19bn in bad debt as the Swiss banking giant struggles to restore its capital base.
BM Solutions is to withdraw its range of sub-prime self-certification products from midnight on Saturday.