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Magnetar and Chorus Capital lose experienced pros
Vida Bank is also building up its funding team
Bank’s relationship with SpringCash is ‘commercial’
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Real estate lending by U.K. banks has plunged to levels last seen following the collapse of Lehman Brothers Holdings in September 2008, according to Jones Lang LaSalle.
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Germany’s central bank is planning to investigate the EUR55.5 billion ($76 billion) accounting error reported earlier this week by FMS Wertmanagement, Hypo RE’s bad bank.
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The U.K. mortgage market is likely to become more complex after the Prudential Regulation Authority and Financial Conduct Authority replace the Financial Services Authority next year, according to Paul Smee, director general of the Council of Mortgage Lenders.
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Irish Bank Resolution Corp. has sold a $3.3 billion commercial real-estate portfolio to Wells Fargo.
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Ally Financial has signaled that it would not sign-on to a proposed settlement of charges over foreclosure practices because the charges on the firm would be disproportionate to its exposure, according to Michael Carpenter, the lender’s ceo.
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Allied Home Mortgage has been sued for allegedly engaging in fraudulent lending practices that resulted in thousands of borrowers losing their homes and costing the U.S. government more than $834 million insurance claims.
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Antonio Horta-Osorio, ceo of Lloyds Banking Group, is taking a temporary leave of absence due to illness. He is expected to return before the end of the year.
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An administrative law judge has dismissed a case brought by the U.S. Securities and Exchange Commission against two former executives of State Street for allegedly misleading investors about a fund’s exposure to subprime mortgages.
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A settlement between state attorneys general and top five mortgage servicers over foreclosure practices is near, according to the office of Iowa Attorney General Tom Miller, who is leading the negotiations.