Integrated Mortgage Solutions, a collateral protection resource for the mortgage servicing industry, announced today at the Five Star Default Servicing Conference & Expo in Dallas, that it is now an official member of USFN – America’s Mortgage Banking Attorneys.
Read More »Banks Join Forces to Combat Capital Market Turmoil
Ten of the largest commercial and investment banks in the world joined forces over the weekend, stepping up to the plate to address the growing turmoil in the financial sector – turmoil that became gravely apparent with the collapse of Lehman Brothers yesterday.
Read More »Fed Keeps Interest Rate at Two Percent
The Federal Open Market Committee (FOMC), which is made up of the Federal Reserve Board of Governors and the Reserve bank presidents, voted again today to hold its target interest rate at two percent, with unanimous member support for the hold over.
Read More »FHFA Appoints New Freddie, Fannie Chairmen
James B. Lockhart, director of the Federal Housing Finance Agency (FHFA), announced the appointments of new non-executive chairmen of the boards of directors of Freddie Mac and Fannie Mae:http://www.
Read More »Fannie, Freddie Shares Moved Off NYSE Floor Trading
The New York Stock Exchange announced last Thursday that trading of Fannie Mae (FNM) and Freddie Mac (FRE) has been moved off the exchange floor. Following the government’s takeover of the two companies last weekend, market capitalizations of both stocks fell below $800 million, as shareholders of the government-sponsored enterprises (GSEs) began a sell frenzy.
Read More »BofA Acquires Merrill Lynch in $50B Deal
Although Bank of America backed out of a deal to save investment bank Lehman Brothers from bankruptcy over the weekend, the corporation is still shaking up the financial community with an announcement this morning that it has agreed to acquire Merrill Lynch & Co.
Read More »Lehman Brothers Files Bankruptcy
New York-based Lehman Brothers Holdings Inc., one of the world’s largest investment banks, announced today that it is filing for Chapter 11 bankruptcy with the U.S. Bankruptcy Court for the Southern District of New York.
Read More »Fed Reports Mortgage Lending Down in 2007, One in Three Borrowers Denied
The Federal Reserve released its comprehensive report on banks’ 2007 lending practices last week, showing that overall mortgage lending dropped sharply. The number of loan applications fell, and on top of that decline, lending institutions denied nearly one in three applicants in response to one of the worst housing and mortgage contractions ever seen.
Read More »Obama and McCain on GSE Bailout
As we reported last week, Treasury Secretary Henry Paulson was quick to tell Washington that it would be up to the new Administration to restructure mortgage giants Fannie Mae and Freddie Mac and outline their future role in the housing market, placing the responsibility squarely on the shoulders of either Barack Obama or John McCain, come January.
Read More »Fidelity National Names New Marketing Exec
Fidelity National Information Services Inc., a provider of core processing and outsourcing services for financial institutions, yesterday named Marcia Danzeisen as SVP of FIS’ marketing and corporate communications.
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