American International Group, the insurer that needed a $182.3 billion bailout from the U.S. government in 2008 after failed mortgage investments, is betting this time it's different.
Published News » Subprime Mortgage
AIG ventures back into subprime mortgages
Posted by mortgage 1 day 16 hours ago (Editorial)
Five tough years for top publicly traded companies
Posted by mortgage 1 day 16 hours ago (Editorial)
The Great Recession leaves a lasting mark on most of them and overcomes a few.
AIG Wagers on Subprime Betting Second Time Different: Mortgages
Posted by mortgage 5 days ago (Editorial)
American International Group Inc. (AIG) , the insurer that needed a $182.3 billion bailout from the U.S. government in 2008 after failed mortgage investments, is betting this time it?s different.
RBC, Credit Suisse among bidders for BofA wealth units: sources
Posted by mortgage 5 days ago (Editorial)
SINGAPORE/HONG KONG (Reuters) - Royal Bank of Canada and Credit Suisse are among suitors who have put in initial bids to buy the non-U.S. wealth management business of Bank of America in a deal that could be worth about $2 billion, sources said. Swiss bank Julius Baer was also keen to bid for some of BofA's units in Europe, the Middle East, Latin America and Asia excluding Japan, the sources
UPDATE 1-RBC, C.Suisse among bidders for BofA wealth units-sources
Posted by mortgage 5 days ago (Editorial)
* Julius Baer also looked to bid for parts of assets -sources * Deal could be worth about $2 bln, less than earlierestimates * BofA in step with moves to shrink its business - analyst By Saeed Azhar and ...
Slow but steady grows the Florida economy
Posted by mortgage 5 days ago (Editorial)
The recession and the subprime mortgage crisis hit Florida with hurricane force, leaving a wake of home foreclosures and more than 10 percent unemployment at its peak. Four years later, the state still works hard to build back its economic strength.
Residential Capital seeks Chapter 11 protection
Posted by mortgage 5 days ago (Editorial)
Residential Capital, the unprofitable subprime mortgage company whose parent Ally Financial is trying to repay a U.S. government bailout, filed for bankruptcy and plans to sell most of its assets to Fortress Investment Group.
Ally aims to end mortgage woes with ResCap filing
Posted by mortgage 7 days ago (Editorial)
(Reuters) - Ally Financial Inc's mortgage unit filed for bankruptcy protection on Monday, and the former in-house financing arm for General Motors Co also said it will sell some international operations to help set it on a path to repaying $12 billion in U.S. government bailout money. The bankruptcy, which still needs court approval, came early Monday as ResCap faced looming bond payments and
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