Mortgage and Financial News From 2009-5-11 Page 01

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• Wave Q1 '09 Revenues Rose 137% to $4.0 Million on Increased Software License and Services Activity (Marketwire)

  Lower Overhead and Increased Revenues Yielded a Reduced Net Loss of $1.5 Million Versus a Net Loss of $6.0 Million in Q1 2008; Total Shipments of Bundled Software Exceed 50 Million Units Through April
  2009-05-11 03:09:37

• People in Business: A who's who for May 8 (The Bakersfield Californian)

  SURINDER MANGAT has earned national recognition for his sales success at Mercedes-Benz of Bakersfield. Every month for nine years he has been the dealership's top salesman. As a result, he was recently the subject of a feature in Mercedes-Benz's national magazine, which wrote he had achieved "superstardom" for his sales record.  
  2009-05-11 03:12:44

• Goldman to Pay $60 Million in Subprime Settlement (Update1) (Bloomberg)

  May 11 (Bloomberg) -- Goldman Sachs Group Inc . agreed to pay about $60 million to settle a Massachusetts investigation into the packaging of mortgage securities at the root of the collapse of the U.S. housing market.
  2009-05-11 03:18:42

• Yadkin Valley Financial Corporation Announces First Quarter 2009 Results (Marketwire)

  ELKIN, NC--(Marketwire - May 11, 2009) - Yadkin Valley Financial Corporation ( NASDAQ : YAVY ) Financial Highlights: -- Non-interest income increased $758,000 or 17% compared to the fourth quarter of 2008 -- Tier 1, total capital, and leverage ratios of approximately 10.78%, 11.98%, and 9.60%, respectively for the bank holding company as reported to the Federal Reserve; tangible equity ratio of ...
  2009-05-11 04:53:08

• Convicted Felons Approved As Licensed Mortgage Brokers (News Channel 5 Nashville)

  You trust them with personal information and to help you buy your home. An exclusive NewsChannel5 investigation found bank robbers and identity thieves working in the mortgage business. Incredibly, they all received a license from the state. 
  2009-05-11 10:36:19

• Bank bailouts don't apply here - Contra Costa Times

  Fremont Bank and Mechanics Bank, two prominent regional banks based in the East Bay, are providing a welcome counterpoint to the steady drumbeat of grim financial results being released by banks. Both banks reported a first-quarter profit and appear ...
  2009-05-11 05:51:00

• State reaches $60m subprime deal with Goldman Sachs - Boston Globe

  More than 700 Massachusetts homeowners struggling with subprime mortgages will have their monthly payments reduced - some by as much as 35 percent - as part of a $60 million settlement Attorney General Martha Coakley reached with Goldman Sachs Group ...
  2009-05-11 07:02:00

• SP AusNet to raise capital, shares halted (Reuters via Yahoo! Asia News)

  PERTH, May 12 (Reuters) - Australian infrastructure firm SP AusNet plans to raise capital from institutional and retail investors, the company said in a statement on Tuesday.
  2009-05-11 06:04:54

• Bank bailouts don't apply here (Inside Bay Area)

  n Fremont Bank, Mechancis Bank making loans and profits without federal help
  2009-05-11 06:15:27

• Group Offers Free Mortgage Help (KCTV 5 Kansas City)

  Banks that received billions of dollars in bailout money were supposed to use those funds to help homeowners stay in their homes, but some people say just the opposite has happened.
  2009-05-11 06:39:20

• Goldman Sachs pays $60m to settle sub-prime legal action (Independent)

  Goldman Sachs has become the first bank to settle a legal investigation into the credit derivatives at the heart of the financial crisis, agreeing to paying $60m to the state of Massachusetts.
  2009-05-11 06:53:39

• SP Ausnet joins rush for cash (Business Day)

  Energy network operator SP Ausnet has entered a trading halt pending a capital raising.
  2009-05-11 07:15:21

• Bailout used by Maine banks (Bangor Daily News)

  PORTLAND, Maine ? Bar Harbor Bankshares might not seem like a candidate for a bailout.
  2009-05-11 08:03:45

• Ducks, Honda Center help strong survive (Orange County Register)

  Smith column: Both give to the Stars and Stripes Foundation, which provides assistance to Orange County charities.
  2009-05-11 08:08:49

• Black Hills Corp. Announces Pricing of $250 Million of Senior Notes (PR Newswire via Yahoo! Finance)

  Black Hills Corp. today announced it has priced a public debt offering of $250 million aggregate principal amount of senior unsecured notes due 2014.
  2009-05-11 08:21:00

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