Industry News
New IOSCO Ethics Code ‘Voluntary’
June 4, 2008 | Reprints | Unlock LinkIn the wake of the subprime mortgage mess, regulators have turned their eyes on credit rating agencies.
Mortgage Investors Seek ‘High-Touch’ Staff
June 4, 2008 | Reprints | Unlock LinkMortgage investors, watching homeowners default on their loans in record numbers, are fighting back to limit the losses on their assets.
Dire forecasts for the slump in the U.S. housing market have spurred investors to turn up scrutiny on the management of the loans they own, which can make the difference between profit and loss.
Firm Pushes Limited-Time 5% Off Home Sales Gimmick
By Jeff Haynes | June 4, 2008 | Reprints | Unlock LinkPulling a page from the retail handbook, a residential firm is promoting a limited-time sales gimmick to lure those waiting for prices to decline. Coldwell Banker Residential Brokerage in Connecticut and Westchester County, N.Y. will be wrapping up the 10-day, 5 percent sale this Monday.
AG Releases Top 25 Companies Affected By Data Breach
May 30, 2008 | Reprints | Unlock Link
Attorney General Richard Blumenthal and Department of Consumer Protection (DCP) Commissioner Jerry Farrell, Jr.
CBRB Honored With Performance Awards
May 30, 2008 | Reprints | Unlock LinkColdwell Banker Residential Brokerage in Connecticut and Westchester County, N.Y., picked up six awards at the 2008 Cartus Broker Network International Conference.
Colleges to Offer Insurance Degrees
May 30, 2008 | Reprints | Unlock LinkConnecticut students will be able to earn a degree in insurance and financial services starting this fall at either the Capital Community College in Hartford or the Norwalk Community College. The state’s Department of Higher Education has approved an associate of science degree in the field, according to Gov. M. Jodi Rell.
Financing Secured for Three Properties
May 30, 2008 | Reprints | Unlock LinkDavid Cronheim Mortgage Corp. has arranged financing of $12 million for three office and mixed-use properties in the Nutmeg State.
In East Lyme, John McCallum arranged $2.5 million for the Latimer Brook Commons, a 2-story, 53,882-square-foot mixed-use building located at the intersection of Boston Post and Chesterfield roads.
CBRE Marketing Ridgefield Complex
May 30, 2008 | Reprints | Unlock LinkCB Richard Ellis has been named the exclusive sales agent for 36 Old Quarry Road, a10-building complex in Ridgefield.
Bank Sales of Fixed Annuities on Move
By Laura Schreier | May 30, 2008 | Reprints | Unlock LinkFixed annuities have sprinted forward as the go-to conservative investment vehicle, with sales out of banks leaping from $1.9 billion in January to $4.1 billion in March, according to figures from international research firm Kehrer-LIMRA.
Retirement Plan Shift Spurs Teacher Chase
By Laura Schreier | May 30, 2008 | Reprints | Unlock LinkTeachers aren’t known for their huge paychecks, but – as some financial services watchers will tell you – they’re excellent savers. There’s money to be had in teacher retirement accounts.
Raveis Real Estate Makes Mark in Massachusetts
By Aglaia Pikounis | May 30, 2008 | Reprints | Unlock LinkAt a time when some real estate firms are consolidating offices or closing up shop, William Raveis Real Estate & Home Services has grown in New England. The Shelton-based company has opened 15 offices in Massachusetts, including four last year, since beginning an aggressive expansion five years ago. The firm plans to launch at least two more Bay State locations in 2008.
Rea Recognized With Prudential Awards
May 22, 2008 | Reprints | Unlock LinkCarla Rea, a sales executive from the Westport office of Prudential Connecticut Realty, has picked up a couple of awards.
For her work in 2007, she earned the President’s Circle award, which is given to the top-producing 5 percent of Prudential’s 68,000 sale executives nationally. She also received her office’s Service Award for the month of March.
Judge Pins Conspiracy on AIG’s Greenberg
May 22, 2008 | Reprints | Unlock LinkA Hartford-based U.S. federal judge who oversaw the trial of executives accused of helping American International Group inflate reserves said there was sufficient evidence to show the conspiracy started with the insurer’s former chief executive, Maurice “Hank” Greenberg.
Calderara Joins Newtown Savings Bank
May 22, 2008 | Reprints | Unlock LinkWilliam C. Calderara has made the move from Fairfield County Bank to Newtown Savings Bank’s management team as senior vice president and senior commercial lending officer.
Calderara has more than 25 years of experience in banking and financial services with an extensive lending background. He is a past president and director of the Connecticut Mortgage Bankers Association.
CBRE Group Represents Shelton Properties
May 22, 2008 | Reprints | Unlock LinkStamford-based CB Richard Ellis’ Westchester/Fairfield Private Client Group has been named the exclusive sales agent for two Shelton office properties.
The two properties are 100 Commerce Drive, which is 39,662 square feet, and 375 Bridgeport Ave., which is 45,885 square feet.
Mortgage Fraud on Rise; State Statutes Stay Lax
By Jeff Haynes | Reporter | May 22, 2008 | Reprints | Unlock LinkThe state’s brand new sweeping reform bill hammers on numerous parts of the mortgage world – except mortgage fraud – just as the FBI reports that the crime is plaguing Connecticut in particular.
Declining Markets Rules Nixed
By Jeff Haynes | May 22, 2008 | Reprints | Unlock LinkSimon says, “Lower your down payment requirements.”
While Fannie Mae and Freddie Mac lead like Simon in the popular children’s game, the industry is watching to see if the mortgage insurance companies play along.
Webster, Wachovia Subpoenaed In Data Breach Case
By Jeff Haynes | Reporter | May 22, 2008 | Reprints | Unlock Link
Webster Bank and Wachovia Corp. have been included in the widening effort to gauge the impact of a security breach.
Prosecutors Hook Suspects in Web Site Phishing Scam
By Jeff Haynes | Reporter | May 22, 2008 | Reprints | Unlock LinkA New Haven federal grand jury has unsealed an indictment against seven Romanian nationals accused of running an elaborate “phishing” scam.
According to the office of Nora R. Dannehy, acting U.S. attorney for the District of Connecticut, the seven individuals conducted the scam by fraudulently posing as representatives from Connecticut-based People’s United Bank.
BREAKING NEWS:
Stolen Data Tape Could Compromise Thousands Of Consumers’ Personal Data
By Jeff Haynes | Reporter | May 21, 2008 | Reprints | Unlock Link A backup tape containing Social Security numbers and account information belonging to potentially thousands of customers and investors in People’s United Bank has been lost.
