Linda Young – AHN News Writer
Washington, DC, United States (AHN) – After two years of investigating, a U.S. Senate committee has charged that Goldman Sachs knew the mortgage-backed securities it was selling to investors would fail. The Senate Permanent Subcommittee on Investigations looked at the behavior of Wall Street banks during the credit crisis and found Goldman Sachs knowingly misled investors. In a report issued Wednesday, the committee said that Goldman failed to tell banks and other investors that four sets of complex mortgage securities were risky. Moreover, Goldman was betting the investment’s value would fall and did not mention to investors that it did not believe [...] Continue Reading…

Ellie Mae jumped 12.8 percent to $6.77 on the day of its initial public offering. The company had priced its shares for the IPO at $6. That price, though, was down from Ellie’s prior proposal of an offering at $10.
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The apartment is in a 25-foot-wide brownstone at 142 Columbia Heights; the asking price is $2.5 million, and furniture and furnishings are negotiable.

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Anil Giri – AHN News Correspondent
Kathmandu, Nepal (AHN) – Nepal and the United States clinched their first bilateral trade agreement Friday, opening the doors for preferential entry of Nepali goods. The Trade and Investment Framework Agreement (TIFA) will provide a forum for bilateral talks to enhance trade and investment, discuss specific trade issues, and promote more comprehensive trade agreements between the two countries. The pact replaces 1947′s bilateral Economic and Trade Agreement between the two countries. Deputy Prime Minister Bharat Mohan Adhikari and U.S. trade representative Ron Kirk signed the deal on behalf of their respective governments. The deal opens the door to form permanent [...] Continue Reading…

The Five Star Data & Information Summit is being held in May at the Mandarin Oriental in Las Vegas. MISMO’s May 2011 Trimester Meeting is being held from May 23 to May 26 at the Monte Carlo Las Vegas Resort and Casino. The Global Technology Summit 2011 is set [...] Continue Reading…

When you’re looking into Reverse Mortgage Requirements in Canada it can be confusing and strange and there are so many of them that it’s often hard to keep them straight and still be able to understand what it is that you need to bring with you to a lender’s office to be able to figure out whether or not you’ll actually qualify in the first place. It’s difficult enough trying to figure out what you need on a normal basis when it comes to getting paperwork together but it’s far harder when you are doing so to figure out whether or not you qualify for a reverse mortgage, much [...] Continue Reading…

More than 100 Bank of America Home Loans fulfillment centers will be shuttered. Staffing at the remaining sites will additionally be reduced. BofA blamed an expected 25 percent decline in industry originations this year for the decision to consolidate.
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Ayinde O. Chase – AHN News Editor
New York, NY, United States (AHN) – Mortgage rates showed a rise this week, with a 30-year fixed mortgage rate rising to 5.08 percent. According to Bankrate.com’s national survey the average 30-year fixed mortgage has an average of 0.41 discount and origination points. The average 15-year fixed mortgage inched to 4.27 percent, and the larger jumbo 30-year fixed rate moved up to 5.57 percent. Adjustable rate mortgages dropped a few points this week. The average 5-year ARM slipping to 3.87 percent and the 7-year ARM fell to 4.21 percent. Analysts believe investors looked past global concerns and based their decisions [...] Continue Reading…

JPMorgan Chase & Co. said it will add 2,000 to 3,000 jobs. The expansion comes as it looks to clean up the mess from its handling of foreclosure cases. “A significant number likely will come to Columbus [Ohio], but it’s too early to tell how many,” a bank spokeswoman [...] Continue Reading…