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...Its new fund — known as Strategic Investment Partners V — plans to buy risky debt, including junior loans and convertible bonds, as well as preferred stock....
...He also extended a $30mn loan to a company registered in the name of Epstein’s private pilot. The company, Plan D LLC, owned a Gulfstream jet....
...Ana Botín, executive chairman of Santander, the eurozone’s largest lender, told a financial services conference in March that there was a possibility the bank would see only a 5 per cent drop in earnings...
...Last February, for example, it began a public correspondence with Ocwen Financial, the non-bank mortgage servicing company which was rapidly picking up assets from the banks, detailing concerns over its...
...The company sold billions of dollars worth of home loans and mortgage servicing rights to buyers including Ocwen Financial and Berkshire Hathaway....
...Walter, Nationstar and Ocwen Financial snapped up MSRs from their much larger bank competitors to achieve their improved industry ranking....
...The company services 422,000 home loans with an unpaid balance of more than $77bn, collecting payments from borrowers as well as originating new loans....
...The successful auction follows the sale of ResCap’s mortgage servicing business to Ocwen Financial for $3bn on Wednesday after it won a bidding war with Nationstar Mortgage....
...The more complicated area is its attempt to sever the link with ResCap, its mortgage subsidiary, to protect itself from demands for compensation for soured home loans....
...Such loans require intensive and costly servicing....
...tremendous opportunities to the people who can figure out how to sit on a viable side of that debt program, because we will recover from this; I don’t know whether the road is an L recovery, a W recovery, a V...
...“Proponents of a V-shaped [economic] recovery are underestimating how much rising unemployment and an unstable structure of indebtedness can lengthen and deepen this recession,” says Sandy Chen, banks analyst...
...LLC; Carlyle Investment Management L.L.C.; Blackstone Capital Partners V L.P.; Centerbridge Capital Partners, L.P....
...The fallout for Mr Lee from that story was predictable: three months later, Chase coughed up about $500m for the Beacon Group, a tiny mergers and acquisitions boutique, to obtain the services and cachet...
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