Fieldstone Mortgage VP found dead in murder suicide

Fieldstone’s collapse received a hard dose of reality today. A high-ranking executive of a collapsed subprime-mortgage lender jumped to his death from the Delaware Memorial Bridge yesterday, shortly after his wife’s body was found inside their Burlington County home, authorities said. The deaths of Walter Buczynski, 59, and his wife, Marci, 37 – the parents …

Fieldstone Mortgage of Columbia Maryland files bankruptcy

Columbia Maryland based Fieldstone Mortgage Co. has filed for Chapter 11 bankruptcy protection. The company owes millions to Morgan Stanley, which has a $38.5 million claim, HSBC’s Household International Inc., with a $23.3 million claim, and Countrywide with a $10.4 million claim. The company says it cannot make new mortgages and has laid off most …

Fieldstone stops accepting new loan applications

Fieldstone Investment Corp., the Columbia-based subprime mortgage lender that was acquired last month, has stopped accepting new loan applications from consumers and mortgage brokers as its new owner scrambles to overcome a liquidity squeeze and answer margin calls. “We are currently facing some liquidity challenges stemming from the severe state of disruption in the credit …

Why HSBC Hopes the World Does Not Put 2 and 2 Together

Why did the subprime money pipeline shut down? And which bank was buying mortgages from brokers and lenders? HSBC of course. Subprime and second mortgages were to HSBC like Household International was to predatory lending – an easy ride to profits. Or so they thought. Second mortgages? Sorry, but HSBC has little or no security …