Texas Bankruptcy Laws

Investment management firms, former Countrywide exec start new mortgage firm (BizJournals)  Private National Mortgage Acceptance Co. LLC, a new mortgage company designed to purchase and restructure distressed mortgages, was unveiled Monday, led by investment management firms BlackRock Inc., Highfields Capital Management


Judge in Oregon sentences 4 in $170 million offshore banking scam   An offshore banking scam based in Grenada that cost thousands of U.S. and Canadian investors more than $170 million ended with federal prison sentences on Monday for four people,


Clinton calls for mortgage lender protections (Houston Chronicle)  Democrat Hillary Rodham Clinton proposed several remedies to the nation's home mortgage problems today, including one tool more often associated with Republicans than Democrats.


PMI Q1 earnings rise despite charges  PMI Group Inc. 's first-quarter net income rose from the year-ago period as all three of the company's segments reported greater contributions to the bottom line.read more...


National City mortgage aid procedures  National City explains the steps its customers can take to prevent foreclosure.read more...


Motorola denies selling Chinese handset business  "We are selling an idle building in Tianjin and it's just a real estate transaction," said Mary Lamb, a spokeswoman for Motorola Asia Pacific Ltd.via

August 9th, 2007

Mortgage-market fallout rattles shares of lenders, banks (Market Watch)

NEW YORK (MarketWatch)—Financial stocks fell sharply to start Friday as fears of a systemwide seizure in the secondary mortgage market and a broadening credit crunch sent shivers through investors.

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