News&Notes | finance development sales
Multi-Housing News - 1 hour, 49 minutes ago
Los Angeles, Calif.Howard Levine, president and CEO of ARCS Commercial Mortgage Co. LP announced the closing of $128.673 million in financing for four properties located in west Los Angeles.Save to My Web
Toll’s 2nd-Qtr Profit Growth Slows; 2006 Forecast Cut (Update8)
Bloomberg.com - 2 hours, 2 minutes ago
May 23 (Bloomberg) — Toll Brothers Inc., the largest U.S. luxury-home builder, said fiscal second-quarter earnings rose 2.8 percent, the smallest gain in three years, and trimmed its 2006 forecast as higher mortgage rates weakened the housing market.Save to My Web
Fannie Mae Regulator Says Growth Should Be `Limited’ (Update5)
Bloomberg.com - 44 minutes ago
May 23 (Bloomberg) — Fannie Mae, the U.S. lender that parlayed its government sponsorship and political connections into the nation’s largest source of mortgage funds, needs stricter regulation that will limit growth after its board of directors failed to prevent $11 billion of accounting errors, the company’s federal regulator said.Save to My Web
Tuesday, May 23, 2006
The San Francisco Examiner - 1 hour, 57 minutes ago
9 mins ago: Employees at mortgage giant Fannie Mae manipulated accounting so that executives could collect millions in bonuses as senior management deceived investors and stonewalled regulators at a company whose prestigious image was phony, a federal agency charged Tuesday.Save to My Web
Fannie Mae board, management cited for misconduct
India Daily - 2 hours, 12 minutes ago
Fannie Mae’s board of directors is partly to blame for the accounting scandal that has rocked the big mortgage company, and the firm should be subject to fines, a stinging and critical report from Fannie’s regulator said on Tuesday.Save to My Web
Montreal’s ‘Big Owe’ almost paid off
CBC - 16 minutes ago
After 30 years, Quebecers are months away from paying off the mortgage on Montreal’s Olympic Stadium a landmark neither the city nor the province say they want to own.Save to My Web
Even debt-free, the Big Owe is still in trouble
CBC via Yahoo! Canada News - 2 hours, 4 minutes ago
Quebecers have nearly finished paying off the $1.5-billion mortgage on the Olympic Stadium, but the “Big Owe’s” problems aren’t over yet.Save to My Web
Feds Fine ‘Arrogant’ Fannie
TheStreet.com - 2 hours, 43 minutes ago
A government report details the accounting games at the big mortgage outfit.Save to My Web
Fitch Ratings Upgrades MSDWC 2002-TOP7
[Press Release] Business Wire via Yahoo! Finance - 35 minutes ago
NEW YORK—-May 23, 2006–Fitch Ratings upgrades Morgan Stanley Dean Witter Capital I Trust, commercial mortgage pass-through certificates, series 2002-TOP 7 as follows: $24.2 million class B to ‘AA+’ from ‘AA’; $29.1 million class C to ‘A+’ from ‘A’; $7.3 million class D to ‘A’ from ‘A-’; $7.3 million class E to ‘A-’ from ‘BBB+’; $12.1 million class F to ‘BBB+’ from ‘BBB’; $7.3 million class G Save to My Web
Report: Fannie Mae Manipulated Accounting
WJLA-TV Washington D.C. - 2 hours, 28 minutes ago
Washington (AP) - Employees at mortgage giant Fannie Mae manipulated accounting so that executives could collect millions in bonuses as senior management deceived investors and stonewalled regulators at a company whose prestigious image was phony, a federal agency charged Tuesday.The blistering report by the Office of Federal Housing Enterprise Oversight, the product of an extensive three-year Save to My Web
Fitch Upgrades 2 Classes of DLJ Series 1996-CF2
[Press Release] Business Wire via Yahoo! Finance - 1 hour, 3 minutes ago
CHICAGO—-May 23, 2006–Fitch Ratings upgrades and removes from Rating Watch Positive one class of DLJ Mortgage Acceptance Corp.’s commercial mortgage pass-through certificates, series 1996-CF2, as follows: $12.2 million class B-3 to ‘AAA’ from ‘A’.Save to My Web
Fannie Mae Slammed With $400M Fine
CBS News - 20 minutes ago
Senior executives at mortgage giant Fannie Mae manipulated accounting to collect millions in “maximum, undeserved bonuses” and deceive investors, a blistering federal report charged. The government-sponsored company was fined $400 million.Save to My Web
Regulators fine Fannie Mae $400 million over accounting
India Daily - 1 hour, 57 minutes ago
Federal regulators fined giant mortgage company Fannie Mae $400 million in connection with charges Fannie’s board and executives massaged earnings to trigger executive bonuses from 1998 to 2004. At the same time, Fannie’s chief regulator said the company must scale back its holdings of mortgage-backed securities to Dec. 31, 2005 levels.Save to My Web
Tough Fannie report could push bill in Congress
Reuters via Yahoo! News - 1 hour, 34 minutes ago
A scathing report on Fannie Mae’s nearly $11 billion accounting scandal could give Congress the spark needed to push legislation overhauling supervision of the mortgage finance giant, sources said on Tuesday.Save to My Web
Report: Fannie Mae needs stricter regulation
Chicago Tribune - 1 hour, 11 minutes ago
Fannie Mae, the U.S. lender that parlayed its government sponsorship and political connections into becoming the nation’s largest source of mortgage funds, needs stricter regulation that will limit growth after its board of directors failed to prevent $11 billion of accounting errors, the company’s federal regulator said. Save to My Web
US blames Fannie management
Reuters via Yahoo! News - 27 minutes ago
Mortgage finance giant Fannie Mae agreed to pay a $400 million fine after a U.S. probe into its $11 billion accounting scandal blamed management and the board for an “arrogant and unethical” corporate culture that led to massive manipulation of earnings.Save to My Web