Senior Tax Analyst from the Tax & Accounting business of Thomson Reuters Provides Insight NEW YORK, Oct. 27 /PRNewswire/ -- In a July 8, 2008 speech on the U.S. housing market, Treasury Secretary Henry M. Paulson, Jr. reported that 1.5 million foreclosures were started in 2007, and some...
Obama seen as better able to handle economic issue than McCain ROCHESTER, N.Y. -- When it comes to the causes of the financial and economic crisis, Americans spread the blame around to both private and public sectors. Majorities blame all of the following "a lot": banks (76%), homebuyers who...
A 400 percent increase in business puts fraudulent findings from more than 4,000 loan file reviews per month directly into FraudGUARD[R] for the benefit of mortgage lenders SAN FRANCISCO -- Agoura Hills, Calif.-based Interthinx[R] announced from the 95th Annual Mortgage Bankers Association's Conference and Expo that, due to historic...
Training works I appreciate the letter by Frank Brentine on Sept. 30 about Crisis Intervention Team training. I am a member of the Topeka/ Shawnee County CIT Council, which has offered 40 hours of training twice to law enforcement and corrections officers. CIT is a community-based,...
NEW YORK -- Merrill Lynch (NYSE: MER) today reported a net loss from continuing operations for the third quarter of 2008 of $5.1 billion, or $5.56 per diluted share, compared with a net loss from continuing operations of $2.4 billion, or $2.99 per diluted share, for the third quarter of...
NEW YORK, Oct. 16 /PRNewswire-FirstCall/ -- AllianceBernstein Income Fund, Inc. (the "Fund") today released its monthly portfolio update as of September 30, 2008. AllianceBernstein Income Fund, Inc. Top 10 Fixed-Income Holdings ...
"Value" Will Dominate This Holiday Season NEW YORK, Oct. 14 /PRNewswire/ -- The Deloitte Research Leading Index of Consumer Spending fell in September, mainly due to continued softness in the housing market and an increase in unemployment claims. The Index attempts to track consumer cash flow as an...
As our nation experiences an economic meltdown, those who brought it on are guaranteeing that it will get worse without massive government intervention. Yet they refuse to take the proper action that will solve the problem in the long run. Just the opposite, in fact. [ILLUSTRATION OMITTED] No...
Amid All the Difficulties and Hardship, Zakaria Writes That He Sees One Silver Lining: The Crisis Has Forced the U.S. To Confront Its Bad Habits The United States 'Has Now Gotten the Wake-Up Call from Hell. If We Can Respond and Change Our Behavior Markedly, This Might Actually Be...
It starts with Congress All bills for raising revenue shall originate in the House of Representatives; but the Senate may propose or concur with amendments as on other bills. Anybody familiar with that statement? No? That is what the Constitution says. What I am getting at...
Nearly 400,000 Countrywide Borrowers Could Benefit After Program Launches December 1 CALABASAS, Calif., Oct. 6 /PRNewswire/ -- Bank of America today announced the creation of a proactive home retention program that will systematically modify troubled mortgages with up to $8.4 billion in interest rate and principal reductions for...
Investcorp announced that Christopher Hoeffel is to join its U.S. based real estate team as managing director with responsibility for its debt investment business. In his new role, Hoeffel will have responsibility for the expansion of Investcorp's debt platform including capital deployment for the recently formed US $1 billion Investcorp...
[ILLUSTRATION OMITTED] THE HOUSING AND ECONOMIC RECOVERY ACT OF 2008, which was signed into law by President George W. Bush on July 30, is intended to rescue homeowners unable to cope with their mortgage payments. Whether it will be enough to stem the rising tide of foreclosures in the...
CHARLOTTE, N.C. -- 1st Metropolitan Mortgage, a national mortgage originator, has made a commitment to making the mortgage origination process more environmentally friendly by introducing its national BrightGreen Mortgage program. The program will give originators the tools and support to produce mortgages in a more environmentally-friendly manner while saving borrowers...
As part of the bailout of the mortgage markets, the bankers are lobbying Congress to halt by the end of the month requirements that financial institutions mark the value of their holdings at the fair market value. In a continuation of a two-decade debate, many in the financial...
The median home price in the San Fernando Valley dropped by 35 percent in August when compared with the previous year, according to a report from California State University at Northridge. The median price was $420,000, a drop of $33,000 when compared with July. In August 2007, the median...
Those of us who have been around for any length of time have experienced days, or weeks, when aspects of our personal or professional lives have seemed to be spiralling out of control and we've wished the world would just let us catch a breath. Then, we realized...
NEW YORK -- Fitch Ratings has updated Home Loan Services' HLS U.S. residential servicer ratings. The ratings remain as stated below and are placed on Rating Watch Evolving: --Primary servicer for subprime product 'RPS2'; --Primary servicer for Alt-A product 'RPS2'; --Special servicer 'RSS2-'. Fitch's recently completed...
LIUNA Opposes Any No-Strings Raid on Taxpayers; Calls for Congress to Seize the Opportunity to Build America So America Works Again WASHINGTON -- As the Bush Administration and Congress craft a $700 billion Wall Street bailout, LIUNA - the Laborers' International Union of North America - is rejecting any...
NEW YORK -- Fitch Ratings downgrades and places on Rating Watch Negative one class of Morgan Stanley Capital I Inc.'s commercial mortgage pass-through certificates, series 1998-XL as follows: --$27.8 million class H to 'BB-' from 'BBB-' The following classes are affirmed by Fitch: --$48.8 million class D...
