Equity One reports jump in profit during 4Q (AP)

AP – Shopping center owner Equity One Inc. said Thursday it posted a 71 percent increase in fourth-quarter funds from operations, reporting higher revenue and an income tax benefit.

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Va. businessman accused of fraud arrested in Texas (AP)

AP – A Lamborghini-driving steakhouse owner who disappeared after being accused of cheating banks out of tens of millions of dollars was arrested in Texas and returned to Virginia as federal prosecutors pursue fraud charges.

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Treasury to dole out $3.8 billion to GMAC, raise stake (Reuters)

Reuters – The U.S. is injecting another $3.8 billion into GMAC Financial Services to help cover mortgage losses, in a bailout that makes the government the majority owner of the auto and home finance company.

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Owner of closed mortgage company returns to NH (AP)

AP – A lawyer for the owner of a closed mortgage company being investigated by the state says his client is back in New Hampshire.

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Developers Diversified ends CMBS drought (Reuters)

Reuters – U.S. mall owner Developers Diversified Realty Corp snapped a dry spell of nearly a year and a half by selling $400 million of new commercial mortgage bonds on Monday, with help from an emergency Federal Reserve lending program.

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Former Nevada businessman faces fraud charges (AP)

AP – A federal prosecutor says the former owner of a Nevada property firm faces conspiracy and fraud charges in a mortgage fraud scheme involving so-called “straw buyers” and false loan documents.

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