Mortgage and Financial News From 2008-11-5 Page 01
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UPDATE 4-Marsh & McLennan results disappoint, shares drop - Forbes
NEW YORK, Nov 5 (Reuters) - U.S. insurance broker Marsh & McLennan Cos Inc posted third-quarter results that missed Wall Street expectations, as it lost money on investments and increased its liability reserves, sending its shares down as much as 13 ...
2008-11-05 03:46:00 -
Moody's cuts Ambac Financial to junk on loss - Reuters
NEW YORK, Nov 5 (Reuters) - Moody's Investors Service on Wednesday cut its ratings on Ambac Financial Corp (ABK.N: Quote , Profile , Research , Stock Buzz ) into junk territory, and also cut its insurance arm, citing the bond insurers' losses from ...
2008-11-05 04:01:00 -
U.S. stocks, oil fall on global slowdown fears - Reuters UK
NEW YORK (Reuters) - U.S. stocks dived and risk aversion rose on Wednesday as the financial crisis sparked a fresh round of bleak news and gave U.S. president-elect Barack Obama a grim welcome a day after his historic election. With Obama's victory ...
2008-11-05 07:57:00 -
ResCap could shut down, parent GMAC warns - Minneapolis Star Tribune
Pelted by a wave of home mortgage foreclosures and $9.1 billion in losses over the last two years, Bloomington-based Residential Capital may be on the brink of closing its doors, according to parent company GMAC, the financial arm of General Motors ...
2008-11-05 04:01:00 -
Dynex Capital, Inc. Announces Third Quarter 2008 Results - MSN MoneyCentral
Dynex Capital, Inc. DX reported its results today for the third quarter of 2008. Third quarter 2008 highlights include: Long-term business model of investing in Agency RMBS is on track as our Agency RMBS portfolio increased to $300 million at ...
2008-11-05 04:08:00 -
DEALTALK-GMAC mortgage lender's future in doubt - Forbes
NEW YORK, Nov 5 (Reuters) - The Residential Capital LLC affiliate of automaker General Motors Corp may soon join the ranks of U.S. mortgage lenders that failed to navigate the deepening housing crisis. The specter of a ResCap failure grew after ...
2008-11-05 04:15:00 -
NY lawsuit: Bear Stearns built a 'house of cards' - International Herald Tribune
NEW YORK : A company that insured groups of mortgage loans for a subsidiary of Bear Stearns accused the investment bank in a lawsuit Wednesday of building a "house of cards" through fraud and misrepresentations. Ambac Assurance Corp., based in ...
2008-11-05 06:17:00 -
Locke Lord Bissell & Liddell Forms TARP Group (Finance Technology Network)
Group is made up of more than 100 experienced attorneys.
2008-11-05 08:17:55 -
Consumer Watch: New rules to fight ID theft may thwart crooks preying on crisis (Market Watch)
The economic turmoil of late is benefiting at least one group: Identity thieves are tapping into news about bank failures and other mayhem to prey on potential victims.
2008-11-05 08:19:57 -
New Rules To Fight ID Theft May Thwart Crooks Preying On Crisis (Fox News)
New Rules To Fight ID Theft May Thwart Crooks Preying On Crisis
2008-11-05 08:38:31 -
Obama to the Rescue? (GoldSeek.com)
Having received 62.5 million votes, Barack Obama has earned a spectacular personal victory and a clear mandate to bring some form of change to the United States .
2008-11-05 08:44:05 -
Morning briefs (The Florida Times-Union)
Interline Brands sees earnings dip in quarter
2008-11-05 08:49:29 -
Fair Isaac beats estimates (Minneapolis-St. Paul Star Tribune)
Slower demand for credit scores as well as financial companies freezing their spending pressured fourth-quarter earnings of Minneapolis-based Fair Isaac Corp. Still, the Minneapolis-based credit scoring and analytics company remained profitable, reporting net income of $23.8 million, or 49 cents per share.
2008-11-05 08:54:59 -
Courthouse controversy (Cullman Times)
By Patrick McCrelessstaff writerUntil further notice, local residents can no longer utilize the Cullman County Courthouse’s two satellite offices or make payments with personal checks to the revenue commissioner’s office.
2008-11-05 09:03:11 -
Governor proposes plan to avert foreclosures (San Francisco Chronicle)
Gov. Arnold Schwarzenegger proposed a new plan today to induce lenders to modify home loans to help struggling borrowers avoid foreclosure. The proposal must be approved by the Legislature, which the governor plans to call into special session to consider an...
2008-11-05 09:05:48