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...EMC Mortgage Corporation, a subsidiary of Bear Stearns, agreed in 2008 to pay $28m to settle Federal Trade Commission allegations that it chargedborrowers unauthorised fees and engaged in other abusive practices...
...The group’s profits jumped in the first quarter, breaking the run of bad earnings news from major US corporations that has undermined sentiment in the past two weeks....
...The increase came in spite of market uncertainty in the wake of the subprime mortgage crisis. The company could raise more than $950m if its shares price at the top of that range....
...Bear Stearns has been particularly active in mortgage servicing through its subsidiary, EMC Mortgage Corporation, which recently launched the “EMC Mod Squad” to help struggling borrowers modify their loans...
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