Archive for December, 2009
When financial titan Goldman Sachs joined some of its Wall Street rivals in late 2005 in secretly packaging a new breed of offshore securities, it gave prospective investors little hint that many of the deals were so risky that they could end up losing hundreds of millions of dollars on them.
CapitalSource Inc. has received a $119 million Housing and Urban Development-backed loan from the Capital Funding Group for mortgages on properties it plans to sell to Omega Healthcare Investors Inc.
The Florida Supreme Court is ordering local judges to adopt a uniform mediation program to help pare down nearly 300,000 foreclosure cases clogging the state’s courtrooms.
It didn’t happen. Spending on discretionary items, or those under White House and congressional control, is expected to run about 4 percent higher than last year, well above the rate of inflation.
The average fixed-rate for a 30-year mortgage climbed above 5 percent for the first time in two months, leading to a decline in mortgage applications.
The government shouldn’t reward liars. But that’s the effect of changes to the Obama administration’s failing program to help homeowners modify their mortgages.
Prospective full-time teachers are scrambling to get into the current state pension tier before a reform measure designed to save New York taxpayers billions of dollars takes effect New Year’s Day.
Redwood Capital Investments LLC, a company controlled by Baltimore businessman Jim Davis, won control of the assets of bankrupt senior housing builder Erickson Retirement Communities at a bankruptcy auction that lasted until the early hours of Wednesday morning.
Dec. 22 — Brian Lancaster, head of asset-backed securities strategy for RBS Securities Inc., talks with Bloomberg’s Erik Schatzker and Scarlet Fu about the outlook for the mortgage-bond industry.
Federal prosecutors say eight people in Colorado Springs posed as veterans to collect fraudulent unemployment benefits.
11 toward creating a national watchdog that might protect home buyers and mortgage borrowers in future housing cycles.
Canada’s hot housing market received a clean bill of health from a major Canadian bank Friday, dismissing concerns voiced by the Bank of Canada that consumers may be taking on too much debt.
The Obama administration is setting aside $30 billion from the financial bailout fund for a program designed to encourage lending to small businesses to aid the economic recovery.
Louisiana posted the weakest showing of any state when it came to personal income growth during the third quarter of 2009.
The Federal Reserve pledged Wednesday to hold interest rates at a record low to drive down double-digit unemployment and sustain the economic recovery.