30-Year Rates Up After Month of Drops Rates on 30-year mortgages rose for the first time this year after four straight weekly declines.read more...
Bear Stearns Profit Drops 10% as Mortgage Bonds Slump (Update7) (Bloomberg.com) June 14 (Bloomberg) -- Bear Stearns Cos., the second-biggest U.S. underwriter of mortgage bonds, said earnings fell 10 percent, the first quarterly decline in two years, as mounting home-loan defaults
Business Digest The Seattle-based insurance brokerage firm Tash Lyle & Jones has been acquired by Chicago-headquartered Hub International.via
Consumer act protects against fraud, deception Each year, the New Jersey Division of Consumer Affairs receives thousands of complaints from consumers who hire contractors to do costly repair projects and who are less than satisfied
Georgia Blue Chips (Reg Req'd) Home Depot stands to gain perhaps in more ways than one when the rebuilding efforts take place in New Orleans.read more...
Unpaid Wage and Overtime Lawsuit Filed Against American Equity Mortgage on Behalf of Loan Officers by Nichols Kaster & ... (Marketwire via Yahoo! Finance) On February 7, 2008, loan officers filed a nationwide putative collective action overtime lawsuit against American Equity Mortgage. The suit was filed in the United States District Court for
“The effect of these reserving and impairment activities on our capital position will be more than offset by the successful completion of our capital plan, which will increase our capital position by well over $2 billion”
MBIA Inc. reported write-downs of $3.5 billion on souring credit derivatives in the fourth quarter Thursday, raising the possibility that the world’s largest bond insurer could lose its top credit rating.
Continued weakness in the bond insurance market may put struggling banks in a precarious position. Banks, which have reduced portfolio values by more $140 billion during the second half of 2007 in a deteriorating mortgage market, might be forced to take further write-downs tied to bonds insured by companies like MBIA. Read more
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