Mortgage and Financial News From 2007-10-5 Page 13

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• Ross's bid wins American Home Mortgage unit

  Reuters - Last: NEW YORK, Oct 5 (Reuters) - A bid by U.S. billionaire investor Wilbur Ross won the loan servicing unit of bankrupt American Home Mortgage Investment Corp. (AHMIQ.PK: Quote , Profile , Research ), a lawyer for the unsecured creditors said on ...
  2007-10-05 11:10:00

• Mortgage firm gets national ranking (Stamford Advocate)

  Jeff Jensen and Connecticut Home Mortgage, a full-service mortgage broker and banking firm, were named to the 2006 Broker Magazine's list of the top mortgage originators and mortgage companies nationwide.
  2007-10-05 02:24:29

• Attorney General accuses mortgage lender of unfair practices (WPRI 12 Providence)

  BOSTON (AP) - The state has sued a subprime mortgage lender, accusing it of unfair practices that contributed to the current spike in home foreclosures.
  2007-10-05 11:21:04

• Ahead of the Bell: Accredited Home (AP via Yahoo! Finance)

  Amid problems in the mortgage industry and a legal battle, private equity firm Lone Star Fund V LP is expected to complete its takeover of troubled mortgage company Accredited Home Lenders Holding Co.
  2007-10-05 04:01:23

• 11 arrested in mortgage fraud schemes (Miami Herald)

  In the first round up of suspects under a new campaign to crack down on home loan fraud in Miami-Dade County, 11 people -- brokers, borrowers, sellers and title agents -- were arrested in three separate mortgage fraud schemes, police announced Friday.
  2007-10-05 09:49:51

• Wilbur Ross Is Winning Bidder for American Home Unit (Update1) (Bloomberg.com)

  Oct. 5 (Bloomberg) -- Wilbur L. Ross Jr., the billionaire investor who's going into the mortgage business, won the bidding for the loan-servicing unit of bankrupt American Home Mortgage Investment Corp. with a $435 million purchase offer.
  2007-10-05 08:20:00

• Wilbur Ross Is Winning Bidder for American Home Unit (Update3) (Bloomberg.com)

  Oct. 5 (Bloomberg) -- Wilbur L. Ross Jr., who became a billionaire by investing in failed steel and textile companies, won the bidding for the loan-servicing unit of bankrupt American Home Mortgage Investment Corp. with a $435 million offer.
  2007-10-05 11:04:53

• Wilbur Ross Is Winning Bidder for American Home Unit (Update2) (Bloomberg.com)

  Oct. 5 (Bloomberg) -- Wilbur L. Ross Jr., the billionaire distressed-debt investor who's going into the mortgage business, won the bidding for the loan-servicing unit of bankrupt American Home Mortgage Investment Corp. with a $435 million offer.
  2007-10-05 09:19:33

• Ross's bid wins American Home Mortgage unit (Reuters via Yahoo! Malaysia News)

  NEW YORK, Oct 5 - A bid by U.S. billionaire investor Wilbur Ross won the loan servicing unit of bankrupt American Home Mortgage Investment Corp. , a lawyer for the unsecured creditors said on Friday.
  2007-10-05 11:14:15

• Stocks Rise Following Jobs Report

  Forbes - ... to more normal results in the current quarter. The initially weak data in August was seen as one motivating factor in the Federal Reserve's decision to slash rates by a larger-than-expected half-percentage point last month. Lower interest rates pulled ...
  2007-10-05 08:54:00

• Uganda: NSSF Increases Interest Rates

  AllAfrica.com - THE National Social Security Fund has announced a plan to increase the interest on members' savings from the current 7 per cent to 12 per cent over the next five years. The increment, effective this year, will be spread over the years, with a 1 ...
  2007-10-05 02:13:00

• FUN Technologies Inc. and Liberty Media Corporation Reach Agreement in ...

  Market Wire - ... and Liberty Media Corporation Reach Agreement in Principle for Liberty to Acquire the Publicly Held Minority Interest ... shares of FUN not already owned by Liberty at a price per share of GBP 1.75 (approximately C$3.56 based on current exchange rates ...
  2007-10-05 09:30:00

• New paradigm: global imbalances no big worry

  The Australian - Gloomy predictions about the unsustainability of the US current account deficit and its dismal consequences for the dollar and interest rates, repeated year after year, have failed to materialise and are unconvincing," she says. Xafa concludes that ...
  2007-10-05 07:21:00

• Mboweni says rates only way to temper consumer demand

  Engineering News - Strong consumer spending has fuelled South African imports, causing the current account gap, the broadest measure of trade in goods and services, to widen to a 24-year high of 6.4 percent in the first quarter. Rising interest rates may temper growth ...
  2007-10-05 09:15:00

• Confidence improves in October

  BusinessWeek - Confidence in the economy revived as the Federal Reserve's bold interest-rate cut ... People are breathing a sigh of relief that the Fed lowered rates," said Brian ... People's feelings about current economic conditions jumped to 101.1 in October ...
  2007-10-05 07:28:00

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