Online bond marketplace TradeWeb, which had offices in the World Trade Center and has been activein the mortgage-backed securities market, has confirmed that all its employees are safe and its website is up andrunning. The company has said it expects to restore trading of U.S.-based products within a few weeks and is workingwith its London office to do so. "I am relieved and grateful for the safety of all our colleagues;it is a miracle that we are all alive in the wake of Tuesday's attack," said TradeWeb president Jim Toffeysaid. "The thoughts and prayers of the TradeWeb family go out to everyone affected by this unimaginable tragedy."Vic Simone, managing director of Goldman Sachs & Co. and TradeWeb's chairman, said, on behalf of company'sboard and its dealers, "We are very relieved that all TradeWeb employees are safe and accounted for and extremelyproud of the way they conducted themselves during this crisis. We, the dealer community, are committed to providingthe necessary resources to restore TradeWeb to full operational capability as soon as possible." The company'ssoftware, databases, and office records were all stored off-site. TradeWeb's website address is http://www.tradeweb.com.
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The industry reported $275 million in losses from internet crimes last year, a 59% annual increase as losses nationwide surpassed $20 billion.
April 10 -
A Colorado couple filed suit after realizing they might owe as much as $279,000 on a home equity investment contract used to obtain $88,000 in 2018.
April 10 -
Economists surveyed by Wolters Kluwer are scaling back rate cut expectations as Iran conflict-driven energy costs push inflation higher, complicating the Fed's path forward.
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A 21.2% spike in the price of gasoline was the biggest contributor to a 0.9% increase in the Consumer Price Index in March, according to a Friday report from the Bureau of Labor Statistics. The agency said other price increases were largely contained.
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Jumbo loans demand more scrutiny and documentation, but automation is streamlining the process — and lenders who master the product stand to gain in a moderately bullish market.
April 10 -
LoanDepot will integrate Figure's proprietary credit and loan underwriting engine into its own proprietary mello technology platform and point of sale system.
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