Two Wall Street traders are charged with involvement in a “parking” scheme that arranged for one to purchase several securities with the understanding that the other would repurchase them at a profit in order to skirt around company rules.
A financial writer answered his phone back in 2009 to surprisingly hear Jamie Dimon, JPMorgan Chase CEO, on the other end contesting a book review published a day earlier. Once a white knight on Wall Street, the writer’s criticism of the star banker has come to fruition.
Another financial crisis can be avoided if people learn from past mistakes. One commentator revealed a list of six lessons that should now be well planted in the minds of investors. One of the key lessons discussed: ignoring Wall Street’s optimistic forecasts.
Another financial crisis is coming, but it's not the result of too little regulation. Instead, it's the natural outcome of a regulatory scheme that did too much and too little all at the same time, says banking veteran Christopher Whalen.
Lawrence Summers, the presumed top pick to replace Ben Bernanke at the Fed, has long been considered more of a hawk — and a potential Fed chief who would be less accommodating when making decisions about the tapering of MBS and Treasury purchases. For this reason, the markets rallied after Summers dropped out of the race.
A wide range of companies making the 2014 HW Fast50 suggests that — are you ready for this? — maybe things aren't as bad in the U.S. mortgage and housing markets as some breathless press might otherwise suggest. After all, our rankings this year include mortgage insurers, investors, loan servicers, technology specialists and dot-coms, home builders, real estate services companies, mortgage bankers and more..
Last October, HousingWire highlighted several correspondent lenders and gave a broad overview of where this division of mortgage finance was heading. We are happy to report that those lenders are still doing a robust set of business, although the road remains no less rocky. But as we said last year, at least there’s a road to begin with. Read More
As our business moves into a new era of low profitability, increased expenses, and intense regulatory scrutiny, virtually every mortgage executive needs to experiment with ways to increase productivity and CFPB compliance while reducing overall operating costs. Read More