Bad Credit Loans

More than 20,000 American mortgagees to hit Palm Beach as Naca’s five-day mortgage modification marathon gets under way In the pre-dawn darkness of a steamy night of sub-tropical rain, a queue of anxious, soggy people snakes around the palm trees outside a cavernous Florida convention centre. Some have erected camp beds or makeshift tents. All clutch [...]

Property prices have taken a well-documented dive in sunny US holiday hotspots such as Florida. But that hasn’t encouraged many Brits back into the US homebuying market – in fact, the British have fallen behind Mexicans in the ranks of foreign property buyers in the US. The National Association of Realtors’ annual study says the British [...]

Inquiry into bid to find whether banks cheated in hunt for high credit ratings includes Citigroup, Goldman Sachs, Merrill Lynch and Morgan Stanley An allegedly “cosy” relationship between top Wall Street banks and credit rating agencies is under investigation by New York’s attorney general, who has issued a flurry of subpoenas to examine whether leading financial [...]

Banks investigated via subpoenas include Citigroup, Goldman Sachs, Merrill Lynch and Morgan Stanley over inflated mortgage grades and misleading ratings agencies The New York attorney general is investigating whether eight Wall Street banks misled ratings agencies to inflate the grades of certain mortgage securities. The attorney general of New York, Andrew Cuomo, sent subpoenas to eight banks [...]

Bank’s shares tumble on Wall Street as federal prosecutors open preliminary case file on $1bn ‘Abacus’ deal Federal prosecutors in the US have opened a preliminary criminal investigation into alleged fraud at Goldman Sachs, sending shares in the embattled Wall Street bank plunging as the firm’s legal and political problems escalate. Sources confirmed today that the US [...]

Traders at Bank of America rake in billions to turn loss into $2.8bn profit A return to the good old days on Wall Street pushed Bank of America back into the black with quarterly profits of $2.8bn (£1.8bn). The company reported today that its traders had cashed in on resurgent financial markets and an improved mood of [...]

Former Goldman Sachs trader David Tepper made £2.5bn last year after betting on the US and Britain bailing out banks A man who keeps a sculpture of a pair of testicles in his office, which he rubs for luck, has emerged as the world’s richest hedge fund manager, pocketing £2.5bn in 2009 after betting that the [...]

• Thain was criticised over expensive office refurbishment • Role as head of the troubled US lender could net him $6m The former Merrill Lynch boss John Thain, who was ousted a year ago amid a furore over lavish office expenditure, has won a chance to rehabilitate his career by landing a $6m-a-year (£3.8m) job as [...]

• Thain was criticised over bonuses and expensive office refurbishment • New role as head of CIT, troubled US lender, could net him $5.5m in shares John Thain, the former boss of Merrill Lynch, returned to the business world today when he was named as chief executive of troubled US commercial lender CIT Group. The company announced [...]

The megabanks could be split up – or might turn into footloose investment banks again More details please. On Thursday ­President Obama declared war on Wall Street – but what would ­victory look like? On day one, it seemed as if a break-up of JP Morgan, Morgan Stanley, Bank of America, Citigroup and Goldman Sachs [...]