Reuters – Four top executives of Thornburg Mortgage improperly paid themselves handsome bonuses just before the mortgage lender filed for bankruptcy last year, and stole money and ideas from Thornburg to secretly launch a new firm, the bankruptcy trustee in charge of liquidating the lender alleged in a lawsuit.
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AP – The British government said Wednesday that it will withdraw unlimited guarantees for depositors in mortgage lender Northern Rock in May as another step to prepare for the company’s return to private ownership.
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AP – Bank of America Corp., the nation’s largest lender, spent $1.18 million in the fourth quarter to lobby the federal government on issues such as executive compensation, credit cards and mortgage lending practices, according to a recent disclosure report.
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AP – Home and auto lender GMAC Financial Services said Thursday it lost $5 billion in the last three months of 2009, as losses from its mortgage operations kept the company in the red for another quarter.
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Reuters – GMAC Financial Services, a lender that is majority-owned by the U.S. government after multiple bailouts, said it lost $5 billion in the fourth quarter after writing down bad mortgage assets.
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AP – U.K. house prices rose 1.2 percent during January to push them 8.6 percent higher from a year ago, a major mortgage lender said Friday, while a separate survey showed consumer confidence picked up after a three-month drop.
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AP – The student lender best known as Sallie Mae reversed its year-ago loss and posted a fourth-quarter profit Wednesday, partly as a result of higher revenue from interest and fees.
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AP – The student lender best known as Sallie Mae reversed its year-ago loss and posted a fourth-quarter profit Wednesday, partly as a result of higher revenue from interest and fees.
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AP – The student lender best known as Sallie Mae reversed its year-ago loss and posted a fourth-quarter profit Wednesday, partly as a result of higher revenue from interest and fees.
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AP – The student lender best known as Sallie Mae reversed its year-ago loss and posted a fourth-quarter profit Wednesday, partly as a result of higher revenue from interest and fees.
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