Items Tagged with 'CEO and Chairman'


  • Further Commotion at AIG

    American International Group [stock AIG][/stock] Chairman and CEO Edward Liddy said Thursday he will leave his position as head of the firm once the board of directors is able to locate the appropriate replacements. The roles of CEO and chairman are likely to be split going forward, the company says. Liddy stepped into his position as CEO in September, at the request of previous Treasury Secretary Henry Paulson, when the company turned over a majority of its stake in exchange for a federal bailout.
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  • Mortgage Insurer Revises Down Paid Claims Estimate

    The PMI Group Inc., a California-based mortgage insurer, on Thursday announced it had downwardly adjusted its estimate of total paid mortgage insurance claims for 2008. The company said it expects total paid claims for the year to be between $810 million and $835 million, down from the estimate announced Nov. 3 when the company said it expected to pay out from $850 million to $900 million in claims by the end of 2008.
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  • Irwin Financial Posts Loss as it Exits Home Lending

    Already out of traditional mortgage banking, Columbus, Ind.-based Irwin Financial Corp. [stock IFC][/stock] reported a $107 million second quarter loss as it looks now to exit home equity lending, as well -- part of the bank's restructuring plan that will see it refocus almost entirely on small business and local lending, after a foray into national mortgage banking left it facing mounting losses in the past year.
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  • BofA: Countrywide to Add to Earnings This Year

    Bank of America Corp. [stock BAC][/stock] kept this quarter's earnings streak going, reporting a sizeable drop in earnings that yet managed to be better than analysts had anticipated -- which has been all it's taken for investors to rally as of late. The nation's second-largest bank by assets said Monday before market open that net income declined 41 percent to $3.41 billion, or 72 cents a share, from $5.76 billion, or $1.28, a year earlier.
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  • Ocwen CEO Leads Bid to Take Servicer Private

    Ocwen Financial Corporation, one of the nation's larger subprime servicers, said late Tuesday that it is entertaining an offer from a group of investors led by none other than CEO and chairman William Erby to acquire the company for $7.00 per share in cash. The West Palm Beach, Florida-based company said it had formed a special committee to review the offer.
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