NEW YORK — Morgan Stanley shares dropped Wednesday following a report that the investment bank is facing an investigation into mortgage derivative deals.
Federal prosecutors are investigating whether Morgan Stanley misled investors about its role in a pair of $200 million derivatives whose performance was tied to mortgage-backed securities, according to a report in The Wall [...]
Posts Tagged ‘mortgage’
Morgan Stanley shares drop on reported probe
May 12th, 2010 by Mortgage Writer
Tags: banks, CEO, economy, financial, Goldman Sachs, investment bank, investors, mortgage, mortgage securities, subprime mortgages, wall street
more...Reports show declines in mortgage defaults
May 11th, 2010 by Mortgage Writer
Is the tide of home-loan defaults finally beginning to recede?
There were signs of that on Monday in two reports examining trends in serious delinquencies — home loans on which borrowers are at least 60 days behind on payments.
A report from the credit data firm TransUnion said such delinquencies fell slightly across the nation in the [...]
Tags: borrowers, economic recovery, economy, financial, foreclosure, investors, mortgage, subprime loans, US Economy
Fannie Mae asks for more federal aid after Q1 loss
May 10th, 2010 by Mortgage Writer
Fannie Mae (FNM.N), the largest U.S. residential mortgage provider, on Monday reported a net loss of $13.1 billion in the first quarter and said it tapped the Treasury for additional aid of $15.3 billion.
Its regulator, the Federal Housing Finance Agency, has asked for $8.4 billion more before June 30 from the Treasury for Fannie Mae [...]
Tags: fannie mae, Federal Housing, financial crisis, financial market, foreclosure, housing market, lender, mortgage, treasury, US Economy
AIG swings to a first-quarter profit
May 7th, 2010 by Mortgage Writer
Firm’s mortgage insurance business posts first profit in three years
Insurance giant American International Group Inc. said Friday it swung to a first-quarter profit as pre-tax earnings in its core operations more than doubled, and its mortgage-insurance arm posted its first growth in three years.
For the recent period, the New York firm /quotes/comstock/13*!aig/quotes/nls/aig (AIG 35.80, -0.96, [...]
Tags: bank of america, business, economic recovery, economy, federal reserve, financial, mortgage, Mortgage Bankers, news, US Economy
Paulson: Mortgage Players Must Keep ‘Skin In The Game’
May 6th, 2010 by Mortgage Writer
WASHINGTON (Dow Jones)–Former Treasury Secretary Henry Paulson said Thursday underwriters and originators of mortgage-backed securities should retain some “skin in the game” by keeping a portion of those securities.
Paulson said that securitizing home mortgages isn’t in and of itself a bad thing, although such mortgage-backed securities were at the heart of the credit crisis.
“That being [...]
Tags: business, credit crisis, dow jones industrial, financial, financial crisis, investment bank, investors, mortgage, treasury
Mortgage lending: tight for some
May 5th, 2010 by Mortgage Writer
Today’s figures from the Bank of England show that mortgage lending is still very depressed. In March net mortgage lending, at a mere £318m, was actually lower than unsecured lending (£325m). This is only the fourth month this has happened since records began in 1993. In 2006-07, mortgage lending averaged £9.13bn a month, eight times [...]
Tags: Bank of England, economy, financial, global economy, home loans, homebuyers, lenders, money, mortgage, mortgage lending
UK housing market then and now
April 30th, 2010 by Mortgage Writer
In April, the year-on-year increase in house prices returned to double figures for the first time since June 2007, the Nationwide Building Society has said.
So is the housing market back to where it was in the summer of 2007?
Far from it, according to estate agents and mortgage brokers.
They say that the picture for buyers, sellers [...]
Tags: borrowers, buyers, financial, interest rates, market value, mortgage, mortgage brokers, mortgage rates
One Firm Refused to Aid a Goldman C.D.O. Plan
April 29th, 2010 by Mortgage Writer
A little-known investment firm has found itself caught up in the Securities and Exchange Commission’s fraud case against Goldman Sachs, The Wall Street Journal reported.
GSC Group, based in New Jersey, was contacted by Goldman back in January 2007 and asked to find mortgage-backed securities for an intricate synthetic collateralized debt deal that the bank was [...]
Tags: banks, CEO, economy, financial, Goldman Sachs, mortgage, Mortgage Bankers, US Economy, wall street
Arizona No. 4 for mortgage fraud
April 28th, 2010 by Mortgage Writer
Arizona now ranks fourth for mortgage fraud nationally. It’s the first time the state has cracked the top five for the problem, according to data released this week from the Mortgage Asset Research Institute.
Florida, New York and California (in that order) rank ahead of Arizona in 2009 mortgage-fraud cases. The most prevalent type of home-loan [...]
Tags: economy, homebuyers, mortgage, mortgage lenders, mortgages, real estate, US Economy
Mortgage Fraud Rises For Fifth Consecutive Year
April 27th, 2010 by Mortgage Writer
Mortgage fraud increased in the U.S. for the fifth consecutive year, according to the Appraisal Institute. The institute, an organization of 25,000 real estate appraisers, reported a 7% increase in fraud reports from 2008 to 2009. The increase was sizable but much smaller than the 20%-plus jumps the market saw each year from 2005 to [...]
Tags: banks, financial, mortgage, mortgage rates, mortgages, news, US Economy
Fatal error: Cannot redeclare pagenavi_textdomain() (previously declared in /home/mortlast/public_html/wp-content/themes/front-page/wp-pagenavi.php:34) in /home/mortlast/public_html/wp-content/themes/front-page/wp-pagenavi.php on line 35