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TARP Watchdog: Treasury Should've Went BK with GMAC

March 11, 2010

A scathing report by a Congressional watchdog examining the bailout of GMAC Inc. found that the Treasury Department did not adequately protect taxpayer money.

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Index Finds Home Prices Drop with Less Micro Variation

March 11, 2010

Data from Integrated Asset Services LLC, Denver, Colo., show that national home prices fell 2.3% in January, when there was somewhat less variation than usual at micro-market levels.

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ICP to Transfer Businesses to PrinceRidge

March 10, 2010

ICP Capital has agreed to transfer its domestic and international capital markets businesses to PrinceRidge Holdings LP to create an international investment-banking boutique serving investors and issuers in the institutional fixed income markets.

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Developers Closed on Most South Beach Condos Built Since '03

March 10, 2010

Condominium developers in South Florida's famed South Beach area have closed on some 4,150 new units since 2003, for an average price of $891,000 per unit. But that still leaves about 1,450 apartments that remain unsold, according to a report published by Condo Vultures, a Bal Harbour-based real estate consulting firm.

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Purchases Drive Mortgage Bankers' Application Increase

March 10, 2010

Purchase mortgage application volume had a strong week and was the driver of the increase in the Mortgage Bankers Association's Market Composite Index for the week of Feb. 26.

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Mortgage Marketing

From the Mortgage Marketing pages of Origination News, our sister publication:

Leading by Example

By Brad Finkelstein

Brad Finkelstein

Alan Rosenbaum still enjoys originating loans and serving as a role model for his staff.

Alan Rosenbaum of New York's Guardhill Financial notes that he wears many hats at his company.

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Origination News

A featured story from Origination News, our sister publication:

Third Parties Push for Blind Appraisals

By Brian Collins

Brian Collins

WASHINGTON-The National Association of Mortgage Brokers believes it has found a way to ensure the independence of the appraisal process and still allow brokers to order appraisals.

The trade group is partnering with Old City Lending Solutions of Warrington, Pa., which provides an electronic appraisal ordering service.

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Video of the Day

Connecticut Attorney General Richard Blumenthal talks with Bloomberg's Carol Massar and Matt Miller about his suit against Moody's Corp. and Standard & Poor's over allegations tied to credit ratings for subprime loans. The suit, which Blumenthal's office said was served and not filed today with the court, joins a claim filed by Ohio Attorney General Richard Cordray in November. Ohio sued Moody’s, S&P and Fitch Ratings on behalf of five Ohio public employee retirement funds, claiming improper ratings of mortgage-backed securities cost the funds more than $457 million. (Source: Bloomberg)