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Author Archives: Carrie Bay

Carrie Bay is a freelance writer for DS News and its sister publication MReport. She served as online editor for DSNews.com from 2008 through 2011. Prior to joining DS News and the Five Star organization, she managed public relations, marketing, and media relations initiatives for several B2B companies in the financial services, technology, and telecommunications industries. She also wrote for retail and nonprofit organizations upon graduating from Texas A&M University with degrees in journalism and English.

IMS Announces USFN Membership from Five Star Conference

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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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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