Mortgage

Ally Financial's Mortgage Unit Reported To File Bankruptcy

Ally Financial Inc's Residential Capital unit is nearing a bankruptcy filing, sources familiar with the situation said on Sunday, in a move that could help the taxpayer-owned auto lender to shed its troubled mortgage business but also spur drawn-out legal fights.

Ally Financial's Mortgage Unit Reported Near Bankruptcy

Ally Financial Inc's Residential Capital unit is nearing a bankruptcy filing, sources familiar with the situation said on Sunday, in a move that could help the taxpayer-owned auto lender shed its troubled mortgage business but also spur drawn-out legal fights.

Post-Market NASDAQ Movers (HCKT, BRCD, MGAM, LEAP, XOMA , MTGE, CELL, CALL, EXXI, JBLU)

The top after-market NASDAQ gainers Friday were The Hackett Group, Inc., Brocade Communications Systems, Inc., Multimedia Games Holding Company, Inc., Leap Wireless International, Inc. and XOMA Corporation. The top after-market NASDAQ losers were: American Capital Mortgage Investment Corp, Brightpoint Inc., magicJack VocalTec Ltd., Energy XXI (Bermuda) Limited (EXXI) and JetBlue Airways Corporation.

Freddie Mac Names Donald Layton CEO

Freddie Mac (OTC: FMCC), the second-largest U.S. mortgage guarantor, said Thursday it was appointing Donald Layton, the former head of E*Trade as its CEO.

Bernanke Warns Of Potential Problems With Community Banks

Federal Reserve Chairman Ben Bernanke, speaking via teleconference to a Chicago bankers' conference, took an uncharacteristic swipe at community banks on Thursday, suggesting that those institutions might not be as sure-footed as their balance sheets would have them appear.

Ally Received Treasury Approval on ResCap Bankruptcy: Report

Ally Financial Inc., the auto lender majority-owned by U.S. taxpayers, has received conditional approval from the U.S. Treasury Department on plans to put its struggling mortgage servicing and lending unit into bankruptcy, Bloomberg reported, citing an anonymous Obama administration official.

Russia's Putin Orders Investment, Labor Shake-Up

Vladimir Putin ordered Russia's government to boost investment and shake up state-run industries in a flurry of decrees issued after he returned to the presidency on Monday with a call for a new economy.

Black, Latino Voter Registration Plummets

The number of blacks and Hispanics registered to vote has dropped precipitously since the 2008 election, diminishing two bastions of Democratic support that could prove crucial in what promises to be a tight presidential race.

Fed Sticks To Late 2014 Rate Hike Plan

The Federal Reserve on Wednesday repeated its promise to leave interest rates on hold until at least late 2014 but offered few clues into whether it might offer additional stimulus later this year.

Caterpillar Inc. (CAT) Q1 Profit Rises, Lifts Forecast

Caterpillar Inc. (NYSE: CAT), the largest maker of construction and mining equipment, reported a 29 percent jump in its first-quarter profit that topped analysts' estimates and boosted its full-year outlook, as U.S. builders replaced their aging machinery and demand for mining equipment boomed.

Home Prices Hit New Lows in Feb: S&P/Case-Shiller

The American market for single-family homes fell to new lows in February, but prices declined at a slower rate compared to the previous month, a private report showed Tuesday, as the housing market continues to struggle.

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