11-03-2008
Flagstar Sees Credit Costs Bite Bottom Line in Q3 Flagstar Bancorp, Inc. (FBC: 1.78 -6.32%) , the holding company for Flagstar Bank FSB, said late last week that it lost $62.1 million, or $0.79/share, during the third quarter, as credit costs continued to eat away at the bottom line. The Q3 loss widened a $32.1 million loss, or $.22/share, from the same period in 2007. Read More
09-13-2008
What's worth saving at Lehman Brothers? NEW YORK (AP) — With Lehman Brothers' survival in question, officials of major global banks and the U.S. government were in weekend negotiations aimed at resolving the investment bank's precarious financial situation. Wall Street CEOs were being asked to come up with a way to deal with Lehman's problems and avoid the risks they posed to the financial industry and the broader economy; one of the options being explored was a purchase of Lehman by one of its healthier competitors.
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09-12-2008
Time for a time-out? Four members of the Senate Banking Committee have asked the federal agency now running the show at Freddie Mac and Fannie Mae to freeze foreclosures for 90 days on mortgages the companies own, and to ease the companies’ policies on modifying mortgages.
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09-11-2008
Lehman Brothers casts wide net as it shops for a buyer NEW YORK - Lehman Brothers has approached other major financial institutions about a potential acquisition or investment in the battered securities firm, people close to the situation said Thursday.
The nation's No. 4 investment bank has been casting a wide net to find a potential buyer for all or part of the 158-year-old firm, bankers and executives at other financial companies said Thursday. They asked not to be identified because they were not authorized to comment publicly.
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09-11-2008
Marsha Stone Joins American Security Mortgage as Senior Mortgage Banker WILMINGTON, NC – Patricia Holsten, Regional Manager of American Security Mortgage Corporation’s Wilmington offices, announced today that Marsha Stone, former Managing Broker of Equity Mortgage Services, has joined American Security Mortgage’s newest Branch located in Wilmington at 1015 Ashes Drive in Westfall Park.
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09-11-2008
Mortgage banking lobbyist joins insurance fight WASHINGTON (Reuters) - A leading lobbyist for mortgage bankers who fought to keep delinquent homeowners from seeking refuge in bankruptcy court is opening the first government-affairs shop for a large insurance company.
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09-11-2008
Washington Mutual stock falls amid financial-sector worries Washington Mutual Inc.'s stock took its biggest dive since the early 1990s this week amid new rumblings in the financial sector about the ongoing mortgage meltdown.
Shares of the nation's largest thrift -- and fifth largest financial institution in Central Florida -- fell to their lowest point in nearly two decades after a spate of bad news this week for the savings-and-loan giant.
WaMu shares fell nearly 30 percent on Wednesday to close at $2.32, a 17-year low. Read More
