Hints and tips:
...Some hope a bigger fillip to Britain Inc will come from lower oil prices, but that is a vain hope....
...Mortgage availability at higher LTVs has fallen by c85% while with more than 8m workers furloughed, we are cautious about incremental demand....
...And Goldman: [S]maller commercial banks stand to benefit most from TFSME, as the scheme lowers their average cost of funding and gives them the ability to compete in lower margin segments such as mortgages...
...The South Dakota v Wayfair ruling, handed down last month, will open the door for states to pass legislation to require online merchants to collect and pay sales tax for sales within their borders....
...Olswang, part of Cameron McKenna, will attempt to determine whether Mr Cats and his wife Ruth V....
...Lex spies an opportunity in mortgage credit — which should continue to grow as long as corporate debt concerns don’t hammer consumers....
...US court told PwC cut corners in Colonial audit Control+C, Control+V....
...JPMorgan Chase, Ocwen Financial and SunTrust Bank have agreed in subsequent civil settlements to provide an additional $9.3bn in relief to homeowners....
...Potts, a leading company law advocate, drew attention to the famous case of Carlill v Carbolic Smoke Ball Company....
...This can be seen in the financial sector, Head argues, pointing out that digitisation enabled some companies to create the subprime mortgage business....
...The class action suit was filed in 2008, shortly after AIG was rescued by the US Treasury and Federal Reserve as it racked up huge losses on insurance written on plunging mortgage securities....
...Regional lender SunTrust Banks was off 0.5 per cent to $33.51 on news that it had agreed to a more than $1bn settlement with federal agencies over allegations of mishandling government-backed mortgages....
...‘Six people were rejected from the trial’s jury pool, including a professor and a mortgage underwriter’ (NYT Dealbook)....
...William Rogers, chief executive of SunTrust Banks, another large regional lender, told investors last week that the bank was in “an aggressive but cordial dialogue” with Fannie and Freddie....
...Ryder System , the transportation company, rallied 6 per cent to $41.56 after it was upgraded by analysts at SunTrust from a ‘neutral’ to a ‘buy’ rating with a price target of $48.00....
...- Felix Salmon on DeMarco v Geithner - Finance must escape the shadows. - ECB Q&A: will we see a big bazooka or pea-shooter on Thursday? - Fed in the dark on jobs....
...than accusing him of intentionally misleading investors – when he failed to disclose that Citigroup selected some securities referenced in the portfolio, a collateralised debt obligation known as Class V...
...Funding III, which was comprised of securities tied to home mortgages....
...SunTrust set aside $215m for mortgage repurchases, an increase from $117m in the third quarter....
...BofA has been shrinking its assets as it seeks to bolster its capital ratios and overcome a hangover of mortgage-related losses and litigation....
...SunTrust was up 5.4 per cent to $19.66, and Regions Financial climbed 4.2 per cent to $4.52, while some investment banks, which do not originate mortgage loans, sat out the rally....
...It might also have helped large mortgage lenders outperform – SunTrust was up 11.6 per cent to $19.75 and Hudson City Bank , a New Jersey-based mortgage lender, rose 9.3 per cent to $6.83....
...Here’s an overview of the allegations, from the article: In exchange for the their business, companies such as Citigroup Inc, Wells Fargo & Co, SunTrust Banks Inc. and Countrywide allegedly required reinsurance...
...The Supreme Judicial Court (SJC), in Commonwealth v Ibanez, recently upheld Massachusetts law and stated that “only the present holder of a mortgage is authorized to foreclose on the mortgaged property.”...
...The SEC alleged that Citi was negligent in failing to tell investors in a $1bn CDO – known as Class V Funding III – that the bank had helped to select $500m of mortgage assets that went into the security...
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