| Citi Unloads $400 Million in Non-Performing Loans |
According to reports, Citi completed a sale of $400 million in non-performing loans to an unnamed hedge fund last week. |
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| Prime Jumbo Delinquencies Near 10 Percent |
U.S. prime jumbo loan performance continued to weaken in January as serious delinquencies rose for the 32nd consecutive month, according to Fitch Ratings in the latest edition of Performance Metrics. |
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| February TALF Comes in at Less than $1 Billion |
For the first time in the program’s history less than a billion dollars was requested through the monthly TALF. The February subscription came in at $986 million, although there were approximately $4 billion in deals available for the Fed’s program. |
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| CIT Names Thain CEO |
CIT Group Inc. (NYSE: CIT), the embattled provider of financing to small businesses and middle market companies, announced that its Board of Directors has elected John A. Thain Chairman and Chief Executive Officer effective immediately. The Board has tasked Thain (54) to continue CIT’s transition to a more streamlined commercial lender focused on serving the small business and middle market sectors and optimizing the Company’s business model. |
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| MBIA Restructures Asset Management Uni |
MBIA Inc. (NYSE: MBI) announced today that it has restructured its fixed-income asset management subsidiary. The firm, now known as Cutwater Asset Management, will operate under the MBIA corporate umbrella as a separate operating company focused on fixed-income asset management. |
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