The Securities and Exchange Commission is conducting an investigation into accounting related to Citigroup Inc.’s acquisition of the Associates several years ago. The treatment of certain specific tax reserves and releases is at issue. Citigroup said it is cooperating with the Sec.
Original post by MortgageDaily.com - Mortgage News Headlines
Fannie Mae said it will develop rescue mortgage products for subprime borrowers who will experience difficulty making payments when their rates adjust. The company believes the best course of action is to first receive the nontraditional guidance, develop a full compliance plan and act accordingly, a Fannie director said in a statement sent to mortgagedaily.com. Subprime loans reportedly make up less than 4 percent of Fannie’s total book of business.
Original post by MortgageDaily.com - Mortgage News Headlines
The rate of past due residential mortgages at commercial banks was 2.11 percent in the fourth quarter 2006, according to Federal Reserve data. Delinquency rose from the third quarter, the Fed said. Delinquency for all U.S. chartered commercial banks and has not been that high since the fourth quarter 2002.
Original post by MortgageDaily.com - Mortgage News Headlines
Airbus is to cut around 1,600 jobs in the UK over the next four years under restructuring plans, it was announced today
Original post by MortgageDaily.com - Mortgage News Headlines
As Britain’s fourth-largest bank became the latest to report soaring profits today its boss announced a strong commitment to keeping current accounts free
Original post by MortgageDaily.com - Mortgage News Headlines
The Ohio Homebuyers’ Protection Act took effect Jan. 1. The new law enables enforcement against originators who practice predatory and deceptive lending. mortgage brokers and nonbank lenders now have to undergo criminal background checks.
Original post by MortgageDaily.com - Mortgage News Headlines
A last ditch attempt to save the Spanish homes of hundreds of expats will see a delegation of European MEPS visit affected areas
Original post by MortgageDaily.com - Mortgage News Headlines
Planemaker Airbus plans to cut back its British workforce as it axes 10,000 jobs in Europe
Original post by MortgageDaily.com - Mortgage News Headlines
Thames Water is increasing bills by twice the rate of inflation as the company fails to tackle water lost through its leaky pipes
Original post by MortgageDaily.com - Mortgage News Headlines
Investors today found themselves exposed to another fall in share prices that wiped a further £15bn from the value of top stocks by early afternoon
Original post by MortgageDaily.com - Mortgage News Headlines