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FTC Distributes Funds From EMC Settlement.
Washington-The Federal Trade Commission said it has completed the distribution of $28 million to 68,000 homeowners that were allegedly harmed by EMC Mortgage Corp.'s servicing practices.
In September 2008, EMC and its parent, Bear Stearns & Co., agreed to a $28 million settlement with the consumer protection agency. FHA alleged EMC misrepresented the amounts borrowers owed on their mortgage and charged unauthorized late fees, property inspection fees and loan modification fees.
The FTC also charged the Lewisville, Texas, servicing company engaged in unlawful and abusive collection practices. EMC did not admit to any wrongdoing.
"Consumers who have been mailed redress checks paid unauthorized fees to EMC and/or had a home foreclosed by EMC," ...
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...investigation into the residential servicing practices of EMC Mortgage Corp. to...consumer protection laws. Bear Stearns & Co., the parent...Corp.'s business and servicing practices." Bear Stearns also disclosed in a securitization...
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...head of MBS strategy. Bear Stearns has hired James Augustine...will both be based in Bear Stearns' new Memphis office...interest rate sales at Bear Stearns. Merrill Lynch announced...including underwriting and servicing practices. The candidate should...
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Acquisition Is Next Step in Bear Stearns' Strategy of Vertical Integration...Mortgage Business NEW YORK -- The Bear Stearns Companies Inc. (NYSE: BSC...today. Under the agreement, Bear Stearns' mortgage bank subsidiary, Bear...
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Byline: Dan Jamieson Bear Stearns brokers, reeling from the collapse...of whether the purchase of The Bear Stearns Cos. Inc. by JPMorgan Chase...at the venerable 85-year-old Bear Stearns are savvy veterans with a high...
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NEW YORK -- Bear, Stearns & Co. Inc. today announced that...managing director, replaces long-time Bear Stearns analysts Joseph Riccardo and Scott Shevick who are joining Bear Stearns Asset Management, Inc. ("BSAM(R...
- Bear Stearns Companies, Inc.
- Reference information from: International Directory of Company Histories January 1, 1990 700+ words
Bear Stearns Companies, Inc. 245 Park Avenue, New York, New...Assets: $32.17 billion Stock Index: New York Bear Stearns Companies, the holding company that owns Bear, Stearns & Company, was created on October 29, 1985...
