Items Tagged with 'Option'


  • Patent Office Approves MBS Model

    Andrew Kalotay Associates will have exclusive rights to its new mortgage-backed securities valuation model. Coupled Lattice Efficiency Analysis (CLEAN), which determines refinancings based on mortgagor credit and then discounts the resulting cash flows using an MBS issuer's credit, has been approved to be patented. The new model's methodology is described as an "option-theoretic approach" to MBS valuation.
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  • IAC To Spin Off Lending Tree

    On the heels of a $5.6 million loss for the third quarter, IAC/Interactive business unit Lending Tree is about to go it alone. IAC said today that it will spin off LendingTree -- which will also include, Domania, GetSmart, Home Loan Center and iNest -- as part of a plan to separate IAC into five publicly-traded companies. From the press statement:
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  • H&R Block Moves Quickly, Files 10-Q

    Countering any speculation that its lending business may be facing liquidity problems, H&R Block Inc. (NYSE:HRB) today filed with the Securities and Exchange Commission its Form 10-Q for the fiscal 2007 third quarter ended Jan. 31, 2007, after reporting late yesterday in a separate filing with the SEC that it would delay reporting its financials in order to review its Option One business. Housing Wire reported on the delay earlier this morning, which had led some in the industry to question whether Option One was being bitten by a credit crunch similar to other market competitors.
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  • Centex: Orders Down 24 Percent, Loss Expected

    According to preliminary results announced this morning, Centex Corporation is feeling the crunch in U.S. housing markets. For the quarter ended Dec. 31, 2006, the company had 8,360 home closings, a decrease of 12 percent from the prior year. New orders for the quarter were 6,139, a decrease of 24 percent. "We are navigating through one of the most challenging housing environments in the past 25 years," said Tim Eller, Centex chairman and CEO.
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  • First American: $35.7 Million in Backdated Stock Options

    The First American Corporation announced today that its audit of historical stock option granting practices and related tax and accounting matters is complete, finding mispriced and backdated stock options at the company totaling $35.7 million from grants made between 1996 and 2006. On Nov. 2, 2006, the company disclosed that an internal subcommittee had reached a preliminary conclusion that actual measurement dates of certain stock option grants differed from the recorded dates of such grants, and that the company expected to record additional non-cash charges for stock-based compensation expense.
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