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...This exhibition at the V&A invites us into the opulent world of master goldsmith Carl Fabergé and his London clientele....
...Lex spies an opportunity in mortgage credit — which should continue to grow as long as corporate debt concerns don’t hammer consumers....
...However, ULA’s reliability record may be challenged by a significant looming upheaval facing its main rocket, the Atlas V....
...The biggest US retail bank by deposits also plans to add sales staff, including mortgage loan officers, small business bankers and personal investment advisers, as part of its efforts to improve revenues...
...to open 30 points lower at 9793 The calendar is busy on Wednesday with a lot of Russian economic data: Economy (all times CET): 08:00 Nationwide house prices08:45 France consumer confidence09:00 Spain mortgage...
...UK mortgage data provides some light relief in the mix....
...The rebuffing of the bid made life harder for Aerojet, Mr Thompson added....
...The FTSE 250 company estimated last year that banks still needed or wished to sell about £95bn of UK consumer and mortgage loans....
...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....
...(Financial Times) Microsoft will pick new CEO in “early part” of 2014: John Thompson, a board member who has been leading the search, said, “We identified over 100 possible candidates, talked with several...
...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....
...It has a target to double its balance sheet to £6bn by 2015-16, expanding in niche areas such as mortgages for professional landlords and lending in the Channel Islands....
...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....
...Residential Capital, Ally Financial’s mortgage subsidiary, has been a drag on the rest of Ally’s operations. Its board was scheduled to meet late Sunday to vote on the move....
...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...
...Mr Moynihan – who will be joined on the call by Bruce Thompson, chief financial officer – is expected to tell investors that BofA is building a fortress balance sheet, aggressively cleaning up its mortgage...
...The capital injection will enable Kent Reliance to increase its mortgage lending in the Channel Islands, which comprises 40 per cent of its existing loan book, and to “shared ownership” borrowers who part-rent...
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