MBIA Suit Dismissal Strips Banks of Creditor Rights, Lawyers Say in Appeal

MBIA Suit Dismissal Strips Banks of Creditor Rights, Lawyers Say in Appeal
Bank of America Corp. (BAC) , UBS AG (UBSN) and other financial institutions said a New York appeals court stripped them of rights under state debtor and creditor laws when it tossed out a lawsuit challenging MBIA Inc.’s 2009 split into two bond insurers, [...]

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Robert Lenzner: US Banks Report Phantom Income on $1.4 Trillion Delinquent Mortgages

Robert Lenzner: US Banks Report Phantom Income on $1.4 Trillion Delinquent Mortgages
The giant US banks have been bailed out again from huge potential writeoffs by loosey-goosey accounting accepted by the accounting profession and the regulators….
Read more on The Huffington Post

Banks dealt big blow in mortgage case; wrongful-foreclosure suits may follow

Banks dealt big blow in mortgage case; wrongful-foreclosure suits may follow
The highest court in Massachusetts ruled against U.S. Bancorpand Wells Fargo & Co. Friday in a pivotal mortgage foreclosurecase that could spark more turmoil and uncertainty in a housingmarket already mired in depression.
Read more on Arizona Daily Star

Bank’s inaction raised Storm loss

Bank’s inaction raised Storm loss
Victims of Storm Financial with margin loans through Macquarie Bank were forced into deeper losses as a result of a procedural failure by the bank, which was later covered up.
Read more on Business Day

Bernanke To Banks: Unwind Your Carry-Trades NOW

Bernanke To Banks: Unwind Your Carry-Trades NOW
QE2’s real message is rates are going up, not down. Here’s why.
Read more on Forbes

Australia’s Greens propose rates freeze for big banks

Australia’s Greens propose rates freeze for big banks
Australia’s four major banks would be banned from hiking their interest rates more than official increases by the central bank under reforms proposed on Sunday by the key minority Greens party.
Read more on AFP Journal Internet Finance News (EU) via Yahoo! UK & Ireland Finance

How a Mortgage Broker can beat the Banks

Overview of mortgage industry and insights into how independent brokers can compete with and beat large banks when competing for mortgage business.

Banks lift fixed-loan rates

Banks lift fixed-loan rates
Banks are lifting their fixed-interest rate mortgages, an indication increases to variable rates may not be far off.
Read more on The Age

Refinancing surge helps banks amid foreclosure mess

Refinancing surge helps banks amid foreclosure mess
A rush by U.S. homeowners to refinance at near record-low interest rates marks a rare bright spot for the mortgage industry, under attack for choking the economy with shoddy loans and botched foreclosures.
Read more on Minnesota Public Radio

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