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Britain's nationalized mortgage lender Northern Rock reduced its losses Wednesday and said it expects to return to profit some time in the second half of 2012.

Northern Rock expects profits next year

Posted by mortgage 294 days ago (Editorial)
Britain's nationalized mortgage lender Northern Rock has reduced its losses and says it expects to turn a profit in the second half of the year ahead of a sale.
DETROIT - Ally Financial says it has received subpoenas from federal investigators looking into mortgage fraud. The company also says it will take a $100 million charge in the second quarter for payments it made to trusts to cover their losses on mortgage securities that went bad.
The Mortgage Bankers Association has lowered its 2009 forecast for loan originations.

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