Hints and tips:
...Mortgage issuance is going to be down when you double rates. Same thing with auto lending. The one shoe that hasn’t dropped yet are cap rates and debt yields on commercial real estate....
...Share your ideas with us at imani.moise@ft.com and sid.v@ft.com. Happy reading!...
...This exhibition at the V&A invites us into the opulent world of master goldsmith Carl Fabergé and his London clientele....
...Mr Gates is alleged to have transferred $3m from offshore accounts to others that he himself controlled, paying his children’s tuition and his mortgage, according to the indictment....
...Job moves FS Investments, an alternative asset manager, has promoted Mike Kelly, its chief investment officer, to president, according to Private Equity Wire. Kelly will remain as CIO....
...New Hampshire senator Kelly Ayotte, Hassan’s Republican rival, refusing to say twice if she trusted Trump having access to the nuclear codes....
...a V-shaped front panel, stitched leather sole, and low 2.5cm heel....
...The sale is expected to unfold in the coming weeks with $215bn worth of MSRs going to Nationstar Mortgage, a mortgage lender and servicer owned by private equity group Fortress Investment Group....
...Ocwen Financial fought off stiff competition from Nationstar Mortgage to win a bankruptcy court auction of Residential Capital’s mortgage servicing and origination business....
...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....
...Ocwen Financial and NationStar Mortgage will compete for the chance to buy the business at the Sheraton Hotel in New York. They have both valued the ResCap rights at around $2.5bn....
...A recent earnings release from Nationstar said it had improved payment rates on 17 per cent of its subprime loans originated between 2004 and 2007, the best performance among US mortgage servicers....
...Berkshire also sought to displace Nationstar, a mortgage company backed by Fortress Investment Group, as the stalking horse bidder for the mortgage business....
...The trustee representing the US taxpayer’s interest in Ally Financial had earlier expressed opposition to the break-up fee proposed by Nationstar....
...But the judge selected Nationstar, a mortgage servicer majority owned by Fortress, which ResCap had originally proposed as the stalking horse bidder....
...ResCap will add $374bn to the almost $200bn of mortgage assets already serviced by Nationstar, the largest non-bank mortage loan servicer in the US....
...Judge Glenn also told ResCap to justify a $72m break up fee in the “stalking horse” bid for its mortgage servicing unit by Nationstar. ResCap had recommended that bid when it filed for bankruptcy....
...Nationstar Mortgage, a mortgage servicer backed by Fortress Investment Group, raised $233m last month despite having a post-IPO leverage ratio of 7.8 times – the highest level in at least three years for...
...” ● Anastasia Kelly, general counsel for AIG, who resigned after a dispute over government-imposed pay limits, will reap about $3.8m in severance, Bloomberg reports, citing people familiar with the matter...
...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...
...Related links: SEC V. TREVOR G. COOK, PATRICK J. KILEY, ET AL, Case No. 09 CV 3333 – SEC Litigation release...
...“Prior to the end of August [2008], collateral management was viewed as an ancillary activity to trading – belt and suspenders if you will,” says Kelly Mathieson, global head of clearance and collateral...
...Meanwhile, non-performing loans associated with credit card delinquencies and late mortgage payments will plague U.S. banks into 2010....
...A year later in KSR v....
...“There has been a focus on banks’ capital, liquidity and their mortgage exposure.”...
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