Fremont General Corp., Brea, Calif., says it is unable to file its 10-K form in time to meet the 15-day extension of its deadline to do so. The added delay is due to a continuing review of Fremont's consolidated financial statements by the company and its auditors, Squar, Milner, Peterson Miranda & Williamson LLP. Because it cannot determine when it will be able to file the 10-K, Fremont said it is postponing its combined 2007 and 2008 annual meeting scheduled for April 16. The cancellation puts Fremont out of compliance with New York Stock Exchange requirements for the 2007 annual meeting, which needed to be held by April 30. Fremont said it will hold the meeting as soon as possible and will communicate further with the NYSE.
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California Gov. Gavin Newsom signed a bill that requires HOAs to hold a minimum reserve contribution and the California Fair Lending Examination Act last week.
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The REIT accused the wholesale leader of hiding its massive market gamble during the negotiations, which resulted in $741 million in losses.
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The Federal Reserve is restructuring bank supervision into five regions, following state lines, and putting one regional leader in charge. It's also planning to revise regulatory thresholds so that banks will need to be bigger before tougher standards kick in.
October 6 -
The megalender's new platform, called Orbit, aims to provide its broker partners with advantages and perks that help them compete in a tough rate environment.
October 6 -
While the three largest lenders now offer VantageScore, Bank of America Securities says two agency pulls boosts consumers scores, no matter which model.
October 5 -
Federal Housing Finance Agency Director Bill Pulte said last week that it will slash the budget for its inspector general, spurring Senate Banking Committee Democrats to seek his testimony.
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