AP - Beazer Mortgage Corp., which ceased operations more than a year ago, will refund $2.5 million to more than a thousand borrowers in North Carolina as part of a settlement over claims the Atlanta-based company violated state lending laws, state banking and company officials said Tuesday.
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Reuters - The U.S. House of Representatives gave final approval on Monday to a bill that will create an independent commission to investigate the cause of the U.S. economic meltdown and give federal prosecutors more legal clout and staff to crack down on financial fraud.
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AP - American International Group Inc. plans to spin off its Asian life insurance unit in an initial public offering to help repay billions of dollars in U.S. government loans.
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AP - American International Group is planning to spin off its Asian life insurance unit in an initial public offering as the faltering U.S. company seeks to repay billions in government bailout funding.
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Reuters - Stocks are likely to hit more speed bumps this week as investors become more wary of Wall Street's ability to rally further and housing starts, jobless claims and other indicators are in the spotlight.
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Reuters - U.S. stocks are likely to hit more speed bumps next week as investors become more wary of Wall Street's ability to rally further and housing starts, jobless claims and other indicators are in the spotlight.
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Reuters - A money manager owned by Canada's Manulife Financial Corp is seeking to fire one of the largest subprime mortgage companies in the United States, claiming that Carrington Mortgage Services is unfairly tarnishing some bonds.
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AP - President Barack Obama's personal finances appear to be on sound footing even as the nation's economy struggles, a financial report he released Friday shows.
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Reuters - GMAC LLC, stung by billions of dollars in losses at its auto finance and mortgage units, on Friday scrapped its own name from its banking unit, which it will now call Ally Bank in an effort to gain customers.
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BusinessWeek Online - Of the 11 companies that Jim Collins featured in his best seller Good to Great, just one -- Circuit City -- no longer exists. But amid a brutal housing crisis, the mortgage finance giant Fannie Mae , which Collins called "a high-performance machine," now finds itself in government conservatorship. BusinessWeek's Jena McGregor spoke to former CEO Daniel Mudd, who was dismissed when the government took over.
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