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Special Report on

Securitization and Specialty Finance

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You don't have to be Sherlock Holmes to see the signs of a recession bursting through in economic data, particularly in the August Employment Report. One general coincident indicator for a slowing economy is in the decline in tax receipts. Because taxes are based on income, if less income is reported, lower tax revenues are received. Tax receipts are falling for the US Treasury and the for state and local tax authorities.    Other recessionary indicators are popping up everywhere, from a weak transportation industry (if you can't sell it, why ship and stock it), ...
As of December 31, 2008, Fairfax had total assets of approximately $27.3 billion, and its revenue for the prior twelve months was approximately $8.0 billion. Over the last 22 years (that is, since present management took over - until fiscal year Dec. 31, 2007), the company had a compound growth rate of approximately 26% in book value per share. Fairfax Financial has worldwide over 8,200 employees (5,000 of them work throughout the United States). There are just 30 employees at head office in Toronto.
Americans Are Getting A Lot Less But It's Costing Them More ...
Inflation is defined as the rate at which the general level of prices for goods and services is rising, and, subsequently, the purchasing power is falling. I've always thought of inflation in terms of what we get and what we pay, but quality and service are as important as quantity, for the price. I felt inspired to write this article when I went shopping for razor blades recently and had a painfully difficult time finding the razor blades I needed. Much to my dismay, I discovered that most of the stores want to sell five-blade razors at a much higher price than the Trac II razor blades I've grown ... market research, surveys and trends
More Debunking of the “Freddie and Fannie Caused the Crisis” Meme ...
There are a lot of bad things you can say about Fannie and Freddie: that they were part of the oversubsidization of housing in America, that they’ve had an overlarge side business of funneling cash to friendly politicians, that some of their “innovative” practices, like requiring the use of the electronic mortgage registration system, MERS, have proven to be detrimental (by clouding title and facilitating foreclosure abuses). And it’s pretty easy not to like the use of Fannie and Freddie as pretty much the only game in town now in mortgage-land. But a common charge, “Fannie and Freddie caused the ... market research, surveys and trends


Nov 10, 2006 When the Home Equity Cookie Jar is Empty Richard ...
My first experience with a mob of American children was a job I had working in my hometown park while in high school. At one summer party, my job was to hand out candy to the children. I grew impatient handing it out piece by piece so to speed up the process, I started throwing it by the handfuls to the kids. I was shocked as their response was immediate and totally unexpected. I was soon chased through the park by a hungry mob of excited children who wanted their candy, and they wanted it now. This fond memory reminds me of the American consumer today because they ... industry trends, business articles and survey research
Six Months To Housing Hell
For the past decade, homeowners in the United States have been living in "Housing Heaven". In this heavenly place, profits are always made; prices only go up; interest rates only go down; developers keep building, marketing, and selling megabuck, luxurious spa-like residences, that are all sold pre-construction; property speculators always make money, and pyramid their purchases into owning many properties to flip for a quick profit; and, second-homes are not an expensive luxury, but a wise investment for retirement. If you really needed to make ends meet while living in this so-called Housing Heaven, all you had to ... industry trends, business articles and survey research
Chimera Investment Corporation Reports Core EPS for the 2nd Quarter 2010 of ...
today reported Core Earnings for the quarter ended June 30, 2010, of $142.8 million or $0.19 per average share as compared to Core Earnings for the quarter ended June 30, 2009, of $48.9 million or $0.10 per average share and Core Earnings for the quarter ended March 31, 2010, of $127.9 million or $0.19 per average share. "Core Earnings" is a non-GAAP measure that approximates distributable income, and is defined as GAAP net income (loss) excluding non-cash equity compensation expense, unrealized gains and losses, realized gains and losses on sales and ... market trends, news research and surveys resources
United PanAm Financial Corp. Announces Second Quarter 2010 Results
IRVINE, Calif., Aug 03, 2010 (BUSINESS WIRE) -- United PanAm Financial Corp. (UPFC)(Pink Sheets:UPFC) today announced results for its second quarter ended June 30, 2010. Results for the Period Ended June 30, 2010 For the quarter ended June 30, 2010, UPFC reported a net loss of $1.3 million, compared to net income of $941,000 for the same period a year ago. Interest income decreased to $10.9 million for the quarter ended June 30, 2010 from $34.5 million for the same period a year ago. UPFC reported a net loss of $0.09 per diluted share for the quarter ended June 30, 2010 ... market trends, news research and surveys resources


Mergers & Acquisitions for Specialty Finance Companies
simultaneous acquisition and securitization of lease and loan portfolios. Representative Transactions: Specialty Finance M&A ... technology research, surveys study and trend statistics
Testimony (PDF) - FCIC Testimony
Apr 7, 2010 ... Before Wall Street came on to the scene, there were specialty finance lenders, like. Beneficial Finance and Beneficial Mortgage, who filled this niche ... all of New Century's loans were sold and or securitized and not ... technology research, surveys study and trend statistics
Penn Law Faculty: Jordan E. Yarett L'78
A partner in the Corporate Department and co-head of the Finance Group at Paul Weiss, Jordan E. Yarett has over 25 years of experience as a financing lawyer focusing on structured finance and securitization transactions. He has handled both innovative structured finance deals involving unusual asset classes as well as securitizations and bond financings involving a wide range of more traditional assets. In 2007 The American Lawyer selected Mr. Yarett as a “Dealmaker of the Year” for his representation of Lehman Brothers Inc., the lead underwriter and sole structuring agent for Dunkin’ Brands Inc. in its complex ...
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Where does ABCP come from? | Ask MetaFilter
I would like to know whether non-financial companies account for a significant part of asset-backed commercial issues in the US. I understand that a bank or other financial institution will always be involved in the process of creating ABCP, but how often does a non-financial company use ABCP to get funds? The Fed Board website has not been overly helpful, they break down commercial paper into "financial", "non-financial", and "asset-backed". IANAE (conomist) , but here's what I found: "The security itself [asset-backed commercial paper] is typically issued by a bank or other financial institution." - Investopedia In ...
How close are we coming to another economic depression?
Look around. The evidence of a withering economy is everywhere. In "good times" consumers shun the canned meat aisle altogether, but no more. Today, Spam sales are soaring; grocery stores can't keep it on the shelves. Everyone is looking for cheaper ways to feed their families. The Labor Dept. assures us that core-inflation is only 4 per cent, but everybody knows it's load of malarkey. Food prices are going through the roof. White bread is up 13 percent, bacon is up 7 percent and peanut butter is up 9 percent. Inflation is rampant and there's no end in sight. The dollar is closing in on the peso and ...