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News about Mortgages:
Mortgage crisis hits new depth - Cincinnati.comThe number of Southwest Ohio homeowners who went into foreclosure soared during the second quarter as the national mortgage crisis continued. Nationwide, a record 9.2 percent of mortgage holders were either behind on their payments or in foreclosure ...
Two charged with fraud in auction-rate case - Los Angeles TimesNEW YORK -- Two former Wall Street brokers fraudulently sold more than $1 billion of mortgage-backed securities in recent years by hiding their subprime connection, federal authorities said Wednesday. The former brokers, Julian T. Tzolov and Eric S ...
Ex-Credit Suisse brokers charged with fraud - Boston GlobeNEW YORK - Two former Credit Suisse Group AG brokers were charged with violating securities laws by fraudulently selling corporate clients subprime mortgages linked to auction-rate securities. Julian Tzolov, 35, and Eric Butler, 36, falsely told ...
Former Credit Suisse brokers accused of securities fraud - International Herald TribuneThe broker said the securities were as safe as cash. After all, he claimed, the outfit that issued them, Glacier Education Loan, bought student loans guaranteed by the U.S. government. The problem: there is no such thing as Glacier Education Loan ...
Foreclosures still rising - Cincinnati.comNew foreclosure filings soared in Southwest Ohio in the second quarter of 2008. Meanwhile, a record 9.2 percent of American mortgage holders were either behind on their payments or in foreclosure at the end of June, according to reports out today ...
Ex-Credit Suisse brokers accused of $1B fraud - CNN MoneyWASHINGTON (AP) -- Federal regulators on Wednesday accused two former Wall Street brokers of defrauding their customers by making more than $1 billion in unauthorized purchases of securities tied to subprime mortgages. The Securities and Exchange ...
GMAC to lay off 5,000, close offices - Seattle TimesLending Lender GMAC Financial Services said Wednesday it will close all of its 200 retail offices and lay off about 5,000 employees as part of plan to reduce its mortgage lending and servicing because of the housing market downturn.
Two Brokers Accused of Securities Fraud - The LedgerThe problem: there is no such thing as Glacier Education Loan. Authorities say the broker, Eric Butler, sold customers some of the most toxic investments of the subprime age — collateralized debt obligations — in what federal prosecutors ...
Paris advertiser acquires PBJS - Seattle TimesParis-based advertising giant Publicis Groupe has acquired Seattle advertising firm PBJS, which handled launch events for Windows Vista. The 30-person firm, whose co-founders include two Microsoft veterans, has handled several high-profile internal ...
Bulgarian Wall Street broker indicted - Sophia EchoA federal grand jury in Brooklyn, New York, has indicted Bulgarian Julian Tsolov and American Eric Butler, both former Credit Suisse brokers, on charges that they lied to investors about how $1billion of their money was placed into short-term ...
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