Lee Farkas could get life for a 3 billion dollar fraud

Lee Farkas, the former chairman of Taylor, Bean and Whitaker Mortgage Corp., was found guilty on all 14 charges stemming from a seven-year, multibillion-dollar fraud scheme that led to the collapse of his firm and Colonial Bank. Farkas may be sentenced to life in prison. Farkas transformed the Ocala, Fla.-based mortgage company into the largest [...]

What Does the 700 Billion Bailout mean to Real Estate?

The Congress is talking about a 700 billion dollar bailout of the financials market to buy up all the faulty mortgage loans. What does this mean to the real estate market and your business

Fannie Mae reports $US8.69 billion loss

Fannie Mae reports $US8.69 billion loss
Mortgage buyer Fannie Mae reported a loss of $US8.7 billion ($A8.22 billion) for the January-March quarter.
Read more on BigPond News

Capital One Sees Up to $1.1 Billion More in Claims

Capital One Sees Up to $1.1 Billion More in Claims
Capital One Financial could lose an additional $1.1 billion on future mortgage buyback claims, the bank said in its annual filing with regulators Tuesday.
Read more on CNBC

Deals of the Day: ‘Look We’re Profitable’ — GM Earns $2 Billion

Deals of the Day: ‘Look We’re Profitable’ — GM Earns $2 Billion
Deals of the Day gathers all the biggest news of the morning related to mergers and acquisitions, bankruptcies, financing and private equity.
Read more on Wall Street Journal Blogs

Fed Will Buy $600 Billion in Debt, Hoping to Spur Growth

Fed Will Buy $600 Billion in Debt, Hoping to Spur Growth
The move is an effort to nurture a fragile recovery ahead of the battles that will dominate national politics over the next two years.
Read more on New York Times

Fed to Buy $600 Billion in Debt; Calls Recovery ‘Disappointingly Slow’

Fed to Buy $600 Billion in Debt; Calls Recovery ‘Disappointingly Slow’
The Fed’s decision was an effort to spur economic growth by lowering long-term interest rates.
Read more on New York Times

Treasury and HUD’s $3 Billion Effort to Prevent the Jobless from Foreclosing

Treasury and HUD’s $3 Billion Effort to Prevent the Jobless from Foreclosing
Their hearts are in the right place, but the concept is flawed and the execution will be a mess. Foreclosure – Unemployment – New Jersey – United States Department of Housing and Urban Development – Mortgage
Read more on The Atlantic

Mortgage giant Freddie Mac seeks another 1.8 billion in aid

Mortgage giant Freddie Mac seeks another 1.8 billion in aid
McLean, Virginia – US mortgage giant Freddie Mac is seeking a further government infusion of 1.8 billion dollars after again suffering quarterly losses, the company said Monday.
Read more on EARTHtimes.org

Banker’s Portfolio Successfully Processes over $10 Billion of Loans Through its Hope for Homeowners Batch Decisioning …

Banker’s Portfolio Successfully Processes over $10 Billion of Loans Through its Hope for Homeowners Batch Decisioning …
IRVINE, Calif.—-Banker’s Portfolio’s proprietary Hope for Homeowners batch decisioning engine identifies borrowers that qualify for the H4H product within a portfolio of loans.
Read more on Business Wire via Yahoo! Finance

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