What better way to do business than to combine two segments of the economy that are hurting? Either land got cheap, or Bentley’s got cheap, so some combination thereof, because here in Northern California, near San Jose, there’s a development giving away Bentley’s to anyone who will buy one of their lots! READ MORE
A news story broke about CitiGroup’s possible plan on paying back their TARP monies. READ MORE
Count your blessings that the SEC is not accusing you of misleading investors (or that you didn’t buy gold $100 an ounce higher than where it is now). This is where three former top executives of New Century Financial find themselves: accused of fraud and misleading investors as the company’s subprime loan business was failing in 2006. New Century’s former CEO and co-founder Brad Morrice, former chief financial officer Patti Dodge and former controller David Kenneally are the names to watch, and probably not hire if you have stockholders since the SEC also wants the three barred from serving as officers or directors of any public company and reimbursement of their bonuses or stock option awards. READ MORE
Be careful what you charge for FHA loans. The FHA kicked Equitable Trust Mortgage (Baltimore) out of its program yesterday, claiming they overcharged borrowers, particularly minorities, for FHA loans.