Items Tagged with 'financier'

ARTICLES

  • Pass the sugar, please

    If you do nothing else today, I recommend taking a look at this, via the NYT's DealBook. It's becoming pretty clear that GMAC got a sweet deal in taking money from the government, despite efforts from lawmakers and regulators to suggest that the taxpayer handout came under duress and with onerous terms. Consider:
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  • GMAC Confirms Discussions on Commercial Bank

    GMAC Financial Services is in formal discussions with federal regulatory authorities regarding a potential shift into bank holding company status under the Bank Holding Company Act of 1956, the ailing financial services giant confirmed Wednesday morning.
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  • Franklin Credit Hits a Wall; Warns It May Not Survive

    Franklin Credit Management Corporation -- one the larger scratch-and-dent mortgage operations out there besides C-BASS -- said late yesterday that it would delay filing its third quarter operating results amid the need to account for "a substantial increase in the provision for loan losses." The company said it expects to report "substantial negative stockholder's equity" as a result of the losses, and said it may be insolvent if it doesn't get waivers of credit terms from its principal financier.
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  • Mortgage Market Roundup, Oct. 5

    It's certainly been an interesting week - there's a word used as a descriptor for those times when an entire industry decides to take its lumps in one quarter, in the hopes that will purge the bad once and for all. The word is escaping my usually quick mind as I write this, but that's clearly what's been taking place this week. Here's a look at some commentary and news from across the Web as we head into the weekend, so feel free to jump off wherever you feel like it:
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