Jeffrey B. Lane has been named chairman and chief executive officer of the troubled Bear Stearns Asset Management, according to The Bear Stearns Cos.Richard Marin, former BSAM chairman and chief executive officer, will remain with BSAM as a senior adviser to Mr. Lane. Before joining BSAM, Mr. Lane was a vice chairman of Lehman Brothers and chairman of Neuberger Berman Inc. He was previously vice chairman of Travelers Group and of the company's Smith Barney subsidiary. Merrill Lynch recently liquidated approximately $850 million in subprime-related assets seized from at least one Bear Stearns hedge fund after the fund failed to meet its margin calls. In a subsequent conference call, Bear Stearns chief financial officer Sam Molinaro said the Wall Street firm was trying to restructure the hedge fund (and a similar one) but that the process could take several months.
-
The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
7h ago -
In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
7h ago -
The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
April 18 -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
April 18 -
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
April 18 -
The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
April 18