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BofA fires back at New York over modification violations
ReutersBy Karen Freifeld NEW YORK, May 10 (Reuters) - Bank of America Corp has fired back at New York Attorney General Eric Schneiderman after he threatened to sue the bank for violating the terms of a $25 billion settlement designed to end mortgage...Tags: Mortgages, Lawyers, Justice System, Crime, Law and Justice, Litigation
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Data breaches persist despite heightened security
Earlier this year, some employees of Schneider Electric of Palatine got an unwelcome surprise in a letter about the stock purchase plan in which they participate. Visible through the address window were their Social Security numbers. One of Schneider's...
Tags: Justice System, Social Organizations, Law Enforcement, Email, Trials
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Are your mortgage modification terms worth continuing payments?
Financially strapped homeowners who are close to foreclosure may want to face the music now rather than continuing to struggle with their monthly payments. There's a high probability of losing the house anyway, even with the government's help. According...Tags: Mortgages, Economy, Business and Finance, Federal Reserve, Credit Ratings, Central Bank
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GOP may seek to tie debt ceiling deal to tax code changes
WASHINGTON — In a little more than a week, the U.S. will hit its debt limit — and the maneuvering has begun against a backdrop of the mid-2011 drama that led to the nation's first-ever credit downgrade. An improving economy and higher taxes,...Tags: Barack Obama, U.S. Congress, Gene Sperling, Credit and Debt, Budget Control Act of 2011
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MOVES-Blackstone Group, Goldman Sachs, BNP Paribas Securities
ReutersMay 9 (Reuters) - The following financial services industry appointments were announced on Thursday. To inform us of other job changes, email to moves@thomsonreuters.com. BLACKSTONE GROUP LP The world's largest alternative asset manager hired former...Tags: Economy, Business and Finance, Blackstone Group, L.P., Deutsche Bank AG, Goldman Sachs Group, Inc., Barclays PLC
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Fannie Mae to pay U.S. $59.4 billion after record quarterly profit
WASHINGTON -- Bailed-out housing finance giant Fannie Mae said Thursday it would pay the U.S. government $59.4 billion after posting a record profit for the first three months of the year. The fortunes of the company, which is 80% owned by taxpayers...
Tags: Freddie Mac, Economy, Business and Finance, Fannie Mae, Finance, Federal Bailout Funds
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SEC, FINRA warn retirees on pension buyouts
Reuters(Reuters) - The top securities regulators on Thursday warned individual investors about pension purchasing companies that persuade retirees and military veterans to sign over pension checks in return for lump-sum payments, as regulatory concerns about the...Tags: Government, Economy, Business and Finance, Pension and Welfare, Andrew Cuomo, U.S. Securities and Exchange Commission
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U.S. blacklists firms for evading Iran oil sale sanctions
ReutersBy Timothy Gardner WASHINGTON, May 9 (Reuters) - The United States has blacklisted two companies it says helped Iran evade sanctions on oil sales and slapped penalties on four Tehran-based firms it says helped the Islamic Republic enrich uranium, the...Tags: Tehran (Iran), Nuclear Policy, U.S. Department of State, Iran's Nuclear Program, Petroleum Industry
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MOVES-American Express, Castle Trust, Stifel Nicolaus
ReutersMay 7 (Reuters) - The following financial services industry appointments were announced on Tuesday. To inform us of other job changes, email to moves@thomsonreuters.com. AMERICAN EXPRESS The credit card company said Chief Financial Officer Daniel Henry...Tags: Economy, Business and Finance, Morgan Stanley Dean Witter & Company, Raymond James Financial Incorporated, American Express Company, Finance
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BofA sells $110 bln CMBS servicing rights portfolio to KeyBank
ReutersMay 9 (Reuters) - Bank of America Corp will sell a commercial mortgage servicing rights portfolio valued at around $110 billion to a KeyCorp unit for an undisclosed amount, the latest offloading of servicing assets which many big banks consider costly...Tags: Mortgages, Services and Shopping, Real Estate, Bank of America Corp., Banking
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The truth about hard-money loans
Q: What is a "hard money" loan? A: Technically, it is a loan that is given in exchange for money, rather than to assist a consumer in buying a house. The latter would be called a "purchase money" mortgage. Hard-money lenders do not rely on the...Tags: Freddie Mac, Pension and Welfare, Mortgages, Fannie Mae, Interior Policy
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Fed: Some borrowers shortchanged in foreclosure settlement
Nearly 100,000 troubled borrowers were shortchanged on payments from Goldman Sachs Group Inc. and Morgan Stanley & Co., the Federal Reserve said — money intended to compensate for possible errors and abusesduring foreclosure proceedings in 2009...
Tags: Morgan Stanley Dean Witter & Company, Mortgages, Federal Reserve, Goldman Sachs Group, Inc., Bank of America Corp.
May 10, 2013
|Story| Reuters
May 12, 2013
|Story| Chicago Tribune
May 10, 2013
|Story| Los Angeles Times
May 9, 2013
|Story| Los Angeles Times
May 9, 2013
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May 9, 2013
|Story| Los Angeles Times
May 9, 2013
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May 9, 2013
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May 7, 2013
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May 9, 2013
|Story| Reuters
May 10, 2013
|Story| Chicago Tribune
May 9, 2013
|Story| Los Angeles Times
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