Homeowners Use 'show Me The Note' To Fight Foreclosure

That mysterious missing mortgage note





In October, several firms, including Bank of America and GMAC Mortgage, temporarily halted some foreclosure sales to check procedures. The industry also has defended the practice of bundling mortgages into securities for sale to investors. "There will be instances where mistakes were made ... but the broad process is sound," says Tom Deutsch, executive director of the industry's American Securitization Forum. For the original version including any supplementary images or video, visit http://usatoday30.usatoday.com/money/economy/housing/2010-12-21-mortgagenote21_CV_N.htm







AG Mortgage Investment Trust (MITT) Enters Overbought Territory





Citigroup finance chief John Gerspach said yesterday his firm expects trading revenue to drop by a "high mid-teens" percentage, less than a week after JPMorgan Chief Executive Officer Jamie Dimon said revenue from equities and fixed income was down about 15 percent. "It sounds like more bloodletting on Wall Street," said Jeff Davis, a managing director for the financial-institutions group at advisory firm Mercer Capital in Nashville, Tennessee. Clients are trading less as the Federal Reserve slows its monthly asset purchases and leaves bond investors preparing for rising interest rates. For the original version including any supplementary images or video, visit http://finance.yahoo.com/news/ag-mortgage-investment-trust-mitt-112929701.html
















Here she learned the details of derivatives, the absurdities of accounting and the various structures of ... erm ... structured finance. She now covers big US banks for the FT paper, including Goldman Sachs and Morgan Stanley. For the original version including any supplementary images or video, visit http://ftalphaville.ft.com/2010/11/22/412486/that-mysterious-missing-mortgage-note/