Billionaire Joseph Lewis Takes on More Stake in Bear Stearns
Today Joseph Lewis disclosed in a regulatory filing that he has just increased his stake in Bear Stearns to 9.57 percent.
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Archive for the 'Mortgage Lending' Category (Chronologically Listed)
Banks Abandon Plan for Super SIV
Citigroup, Bank of America, annd JPMorgan Chase abandon their plan to create a 100 billion dollar super fund designed to unblock the credit markets.
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Posted by Ryan Fiore on Dec 21 2007 under Bank of America, Citigroup, JPMorgan Chase, Mortgage Lending
Freddie Mac to Sell 5 Billion in Bills
Freddie Mac announced today that it plans to sell 5 billion dollars in reference bills next week.
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MBIA Announces High Mortgage Exposure
MBIA Inc, the world’s largest bond insurer, announced today that it had guaranteed 8.1 billion dollars of the riskiest mortgage securities
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Posted by Ryan Fiore on Dec 20 2007 under Bad Credit, Housing Market, Investing in Real Estate, Mortgage Lending
Bush Signs off on a Bill that Gives Relief to Struggling Homeowners
President Bush announced today that he signed into law a bill that will waive taxes for many homeowners that must restructure their mortgages as they face foreclosure.
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Bear Stearns re-hires mortgage trader
Bear Stearns announced today that they would rehire Russell Middleton as a trader for its mortgage-backed securities desk.
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Posted by Ryan Fiore on Dec 19 2007 under Bear Stearns, Mortgage Lending
NovaStar CEO to Retire
NovaStar Financial announced late today that Scott Hartman, Chairman, CEO, and Co-Founder of Novastar, will leave the company to retire.
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Posted by Ryan Fiore on Dec 19 2007 under Housing Market, Mortgage Lending
Treasury Secretary Henry Paulson Supports Banks’ Steps on Subprime Debt
Today Treasury Secretary Henry Paulson commended some big banks that have made efforts to bring off balance sheet investments tied to their subprime mortgage loans back onto their books.
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Posted by Ryan Fiore on Dec 17 2007 under Bank of America, Citigroup, Henry Paulson, JPMorgan Chase, Mortgage Lending
H.R. 3915 Mortgage Reform Legislation
I’m writing this post out of the recent disgust that I have for recent policy maker decisions. These decisions are being made for “the benefit” of everyone, when more realistically they are knee jerk reactions by poorly informed politicians looking to make a name for themselves.
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Posted by Ryan Fiore on Dec 14 2007 under Housing Market, Mortgage Lending
Wall Street Expects the Federal Reserve to Cut Rates Tomorrow
The Federal Reserve is expected to cut the benchmark funds rate by an estimated .25 percent tomorrow as the credit market has put stress on the economy.
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Posted by Ryan Fiore on Dec 10 2007 under Federal Reserve, Housing Market, Mortgage Lending, Mortgage Rates