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Posts Tagged ‘ Loss ’

PHH narrows 3Q loss as mortgage closings surge

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PHH narrows 3Q loss as mortgage closings surge

PHH Corp. (PHH: 20.07 0.00%) narrowed its loss in the third quarter to million, or 14 cents a share, from million, or 94 cents a share, a year earlier, as mortgage closings increased. Revenue for the three months ended Sept. 30 rose to 2 million from 7 million in the comparable period in  2009....
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Congress Pushes for Judicial Action Against Fraud Used to Shift Loss onto GSEs

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Congress Pushes for Judicial Action Against Fraud Used to Shift Loss onto GSEs

Letters from members of Congress released Friday urged President Obama and the Federal Housing Finance Administration (FHFA) to use aggressive administrative power to recover money from companies that used fraudulent and deceptive practices to shift losses on to Fannie Mae and Freddie Mac. Congressman Barney Frank (D-MA), Chairman of the House of Financial Services,...
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