Bad loans were legally hidden as Lenihan made pledge

ON JANUARY 1st 2005 the European Union imposed accounting rules on Irish banks containing a significant but simple flaw that had an impact on the fatal decision by the Irish government in 2008 to give Irish banks a blanket guarantee.

JPMorgan, BofA Sued by New York Over Use of Mortgage Database

JPMorgan Chase & Co., Bank of America Corp. and Wells Fargo & Co. were sued by New York Attorney General Eric Schneiderman over the use of a mortgage database that the state said led to improper foreclosures.

Chrysler Continues to Seek U.S. Energy Loans, Marchionne Says

Chrysler Group LLC will continue pursuing loans from the U.S. Energy Department while the failure of companies that have borrowed from government programs may prolong the process, the chief executive officer said.

Same Day Payday Loan Introduces New “How it Works” Resource

Site Update Breaks Down the Cash Loan Process for New Borrowers(PRWEB) February 05, 2012 Same Day Payday Loan announces its new “How it Works” page to assist new borrowers through every step of the online payday loan process. Consumers are facing financial hardships today more than ever. This is why Same Day Payday Loan has designed an instructional page: to help those who are experiencing the ...

Demand for loans still strong - BSP

MANILA, Philippines - Strong demand for loans from enterprises and households has been sustained amid the low interest rate regime despite the economic slowdown last year, brought about by the weak global trade as well as the cautious spending by the Aquino administration, the Bangko Sentral ng Pilipinas (BSP) reported over the weekend.

Reverse mortgage may be best option for elderly homeowner

A reverse mortgage would enable an 82-year-old woman who needs cash to tap the substantial equity in her home. Dear Liz: My healthy and active 82-year-old mother is faced with having to sell her home this year because she's running out of money. She has lived a very minimal lifestyle for many years as her savings dwindled, and her income is now basically Social Security. She owes $25,000 on a ...

TexasLending.com to Discuss Home Loan Options on Radio KLIF in Dallas, Texas

TexasLending.com to Discuss Home Loan Options on Radio KLIF in Dallas, Texas CEO and president of TexasLending.com, Kevin Miller, and his co-hosts will discuss the various home loan options available from TexasLending.com including refinance loans, home equity loans, home purchase loans, reverse mortgages and FHA loans on The TexasLending.com Mortgage Hour weekend radio show on KLIF AM radio in ...

CloptonCapital.com Commits Their Commercial Loan Website to Exist Until 2020

CloptonCapital.com Commits Their Commercial Loan Website to Exist Until 2020 The firm wants to assure it's current clients that they will always operate as a broker and not a sales lead aggregate business or a captive representative of a sole lender. [...] renewing a domain until the year 2020 isn't exceptionally expensive or drastic, but they very fact that we would think to do such a thing ...

Mortgage Rates New Record Low Attracts Attention From Consumers According To BurlingtonMortgage.biz

Mortgage Rates New Record Low Attracts Attention From Consumers According To BurlingtonMortgage.biz Home mortgage rates have set yet another record, dropping to new lows for 30 year fixed, 15 year fixed, and 5 year ARM home loans, according to mortgage rate research website, BurlingtonMortgage.biz. "Around the holidays refinancing or buying a home just isn't on most people's radars" explains Nat ...

Mortgage Tornado Warning, Unheeded

Inspired by a personal experience, a businessman began delving into the practices of the mortgage industry, including Fannie Mae. His findings have been prescient.

RBNY Fan: Arsenal May Extend Thierry Henry Loan

New York Red Bulls captain Thierry Henry is slated to return from his loan spell at Arsenal a week from this coming Wednesday. It appears that Arsène Wenger may have different plans in mind. The Associated Press is reporting that Arsenal may attempt to extend Henry's loan up...

Arsenal may try to extend Henry's loan from MLS

Arsenal manager Arsene Wenger may try to extend Thierry Henry's loan from the New York Red Bulls. Henry's loan deal stipulates that he has only next weekend's Premier League game at Sunderland and a Feb. 15 Champions League match at AC Milan left before returning to Major League Soccer. Wenger said the Gunners had not discussed any extension with the Red Bulls but acknowledged it was...

CEO, Garret Puckett, Proudly Announces the Recently Launched VA Loan Websites with Security America Mortgage, Inc ...

CEO, Garret Puckett, Proudly Announces the Recently Launched VA Loan Websites with Security America Mortgage, Inc., for Veterans Relocating to North Carolina Garret Puckett, the CEO of Security America Mortgage, Inc. Proudly Announced the New Release of VA Loan State Specific Websites for Veterans Purchasing a Home in North Carolina, Texas, Florida, Louisiana, Colorado, California, Arkansas, and ...

Credit raters' broken image

So many times when the big credit-rating companies have embarrassed themselves, the world has sighed and chalked it up to a business model that by design invites corruption and incompetence. Perhaps never before have the public's expectations for the industry been lower.

Ackermann Shunned ECB Loans on Reputation Risk for Deutsche Bank

Deutsche Bank AG shunned the three- year loans the European Central Bank offered to banks in December on concern taking the funds could damage its reputation with customers, said Chief Executive Officer Josef Ackermann.

Pyng Medical Corp. Announces Bridge Loan

VANCOUVER, BRITISH COLUMBIA-- - Pyng Medical Corp. today announced a loan in the amount of US$220,000 from its largest shareholder Excelera Corporation . The Loan carries interest at 11% per annum, is ...

Credit unions hoping to widen net

How changes to credit unions may help customers like those in Hackney.

New York sues banks over electronic mortgage system (Reuters)

Reuters - New York State Attorney General Eric Schneiderman on Friday sued three major U.S. banks, accusing them of fraud for using an electronic mortgage database that resulted in deceptive and illegal practices.

New York sues banks over electronic mortgage system

NEW YORK (Reuters) - New York State Attorney General Eric Schneiderman on Friday sued three major U.S. banks, accusing them of fraud for using an electronic mortgage database that resulted in deceptive and illegal practices. Schneiderman filed the lawsuit against Bank of America Corp , Wells Fargo & Co and JPMorgan Chase & Co in New York state court in Brooklyn. The lawsuit is over the banks ...

Risky Mortgage-Bond Trading Rise May Invite Fed Sale

Trading in the riskiest mortgage-backed securities has more than doubled since the start of the year, encouraging once-shy investors to try to strike deals with motivated sellers, including the Federal Reserve Bank of New York.

NY's Schneiderman sues banks in foreclosure effort (AP)

AP - New York's attorney general on Friday accused some of the nation's largest banks of deceit and fraud in using an electronic mortgage registry that he said puts homeowners at a disadvantage in foreclosures.

Open a New Credit Card for the Sign-Up Bonus?

Bonus offers for new credit card customers have been getting more appealing. Should you bite?

Goldman to face mortgage debt class-action lawsuit (Reuters)

Reuters - Goldman Sachs Group Inc was ordered by a federal judge to face a securities class-action lawsuit accusing it of defrauding investors about a 2006 offering of securities backed by risky mortgage loans from a now-defunct lender.

4 Common Credit Card Misconceptions

Many Americans think these credit card "rules" are true. Read on to find out the facts.

If Japan Is Our Worst-Case Scenario, We're All Right (The Motley Fool)

The Motley Fool - In 1991, former MIT dean Lester Thurow wrote that "If one looks at the last 20 years, Japan would have to be considered the betting favorite to win the economy honors of owning the 21st century."

7 Costly Credit Card Mistakes

Using credit cards is a lot like investing in the stock market. They can be very rewarding, but there are a lot of pitfalls to avoid. Those who use credit cards wisely enjoy the convenience, security, and rewards that many cards offer. Those who don't use plastic responsibly end up with a mountain of debt.

Fitch: New York Loans Distort U.S. Multifamily CMBS Performance

Despite the second-highest delinquency rate among all property types, U.S. multifamily CMBS fortunes have significantly turned for the better in recent months, according to Fitch R

Loan Modification Short Sale and Foreclosure Tax Consequences

SAN DIEGO, Feb. 3, 2012 /PRNewswire/ -- Indicating most homeowners awaiting loan modification approval and contemplating short sale or foreclosure are not aware of all consequences with regard to their ...

Challenging Economy Continues to Weigh on Mortgage Insurers

NEW YORK, NY-- - Expectations for Mortgage Insurers remain poor in 2012 as significant weakness remains in the jobs and housing markets. In late January, S&P lowered its outlook on three mortgage insurers ...

Senior Secured Loan Program Provides Financing for Greenbriar Equity Group’s Acquisition of PetroChoice

The Senior Secured Loan Program , jointly managed by Ares Capital Corporation and an affiliate of GE Capital, announced today the closing of a $130 million senior secured term loan to support the acquisition of PetroChoice by Greenbriar Equity Group LLC.

Ackermann Shunned ECB Loans for Reputation

Deutsche Bank AG shunned the three- year loans the European Central Bank offered to banks in December on concern taking the funds could damage its reputation with customers, said Chief Executive Officer Josef Ackermann.

Analysis: Obstacles high for more mortgage prosecutions (Reuters)

Reuters - Despite the determination of President Obama to take Wall Street to court for the financial crisis, prosecutors face an uphill struggle to win more convictions like the two they scored on Wednesday against former Credit Suisse Group AG mortgage traders.

Rate on 30-year mortgage falls to record 3.87 pct. (AP)

AP - The average rate on the 30-year fixed mortgage fell this week to a record low, the ninth time that has happened in the last year. Even with the cheapest rates in history, the housing market remains depressed.

Ackermann Shuns ECB Loans Because of ‘Reputational’ Risk for Deutsche Bank

“The fact that we have never taken any money from the government has made us from a reputational point of view so attractive to so many clients in the world that we would be very reluctant to give that up,” Ackermann, 63, said on a conference call yesterday.

3 investments for an era of low interest rates (AP)

AP - The Federal Reserve is making it increasingly hard for investors to earn anything, unless they're willing to accept plenty of risk. Ben Bernanke and his Fed are playing the role of adviser, encouraging Americans to get a little more adventurous by shifting savings out of low-yielding bonds and putting it to work in stocks.

Wynn's 4th-qtr profit up 67 pct as revenue climbs (AP)

AP - Wynn Resorts Ltd. said Thursday that revenue growth in its Macau and Las Vegas casinos and a sizable income tax gain helped drive profit up 67 percent in the last three months of 2011.

Fitch Affirms MetLife Home Loans' U.S. RMBS Servicer Ratings; Assigns Stable Outlook

Fitch Ratings affirms the following U.S. residential primary servicer ratings for MetLife Home Loans :

Sallie Mae will credit $50 fee to suspend payments (AP)

AP - Private student lender Sallie Mae is changing how it handles a fee it charges struggling borrowers who seek to temporarily suspend payments.

Summary Box: Sallie Mae changes policy on loan fee (AP)

AP - THE NEWS: Private student lender Sallie Mae is changing how it handles a fee that struggling borrowers must pay to temporarily suspend payments.

Credit Acceptance Announces Fourth Quarter and Full Year 2011 Earnings

SOUTHFIELD, Mich. -- Credit Acceptance Corporation (referred to as the "Company", "we", "our", or "us") announced consolidated net income of $50.0 million, or $1.91 ...