The impairment charge being taken by Thornburg Mortgage in its 2007 restatement has increased by $248.8 million from original estimates to a total of $676.6 million, according to the company's amended annual report filed with the Securities and Exchange Commission. The company said it has restated its earnings because margin calls that could be "material" might jeopardize its ability to hold certain of its securitized adjustable-rate mortgages to maturity. Thornburg can be found online at http://www.thornburgmortgage.com.
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Counter to prevailing narratives about rules and enforcement activity whipsawing from one administration to the next, public citations by federal banking regulators have steadily declined over the past decade — under both Democratic and Republican administrations.
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Flatworld Mortgage Solutions says its former vice president breached his employment agreements by soliciting its customers as he formed a rival offshoring firm.
July 7 -
The HomeSafe Second product is now available in more than one third of all states, according to the reverse mortgage specialist.
July 7 -
The Department of Housing and Urban Development agreed to do more to manage due-and-payable obligations contingent on the availability of certain resources.
July 7 -
The ex-housing official is returning to a previous employer with the aim of helping guide the firm through an evolving landscape in federal policy.
July 7 -
A $160 million deal to merge Hometown Financial Group subsidiaries and Primary Bank will lead to consolidation under a single brand name of TruNorth.
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