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Carlyle, Crown Wrap Up Real Estate Buy

July 2, 2008 - The Carlyle Group and Crown Acquisitions said Wednesday they have completed their $525 million joint venture purchase of a controlling interest in the retail segment of 666 Fifth Avenue from the building’s owner, Kushner Cos.

CIT Exits Mortgage Business

July 1, 2008 - CIT Group will sell its home lending business and manufactured housing portfolio in a move to reduce mortgage exposure as the global finance company redirects its focus on commercial finance.

Merrill Hires 30 Ex-UBS Muni Bankers

June 30, 2008 - Merrill Lynch has scooped up nearly 30 public finance bankers from the ranks of the now-shuttered municipal group at UBS--taking advantage of a 'once-in-a-decade opportunity' as its Wall Street neighbors shed staff to cope with subprime market-related losses, the firm's municipal chairman said.

Spain's Restructuring Pull

June 30, 2008 - Spain may be on top of the soccer world after its recent win in the European Cup, but it’s apparently just as proficient at something else: luring restructuring pros.

'Big Dig' Builder Files For Protection

June 30, 2008 - Modern Continental Construction Co., the builder involved with the Big Dig project in Boston, filed for bankruptcy protection just days after it was charged by federal regulators with false statements about the quality of construction in two Boston public works projects.

Moody's Eyeing Morgan Stanley For Possible Downgrade

June 27, 2008 - Moody's Friday put Morgan Stanley's long-term ratings on review for possible downgrade, citing concerns about the credit markets and their impact on the banking giant.

California Going After Mozilo, Countrywide

June 25, 2008 - California's attorney general, Edmund Brown, Wednesday announced a suit against mortgage lender Countrywide Financial, its chief executive, Angelo Mozilo, and its president, David Sambol.

Home Prices Still Falling, Index Shows

June 24, 2008 - The S&P/Case Shiller Index showed continued declines in home prices in April, and metropolitan statistical areas (MSAs), posted annual declines.

Moody's Downgrades FGIC, Offers Negative Outlook

June 23, 2008 - Moody's Investors Service last Friday downgraded the insurance financial strength ratings of the main operating subsidiaries of FGIC Corp. to B1 from Baa3.

Goldman Mortgage Pro Joins Law Firm

June 23, 2008 - Howard Altarescu, a 20-year veteran of Goldman Sachs, has left the bank to join Orrick, Herrington & Sutcliffe's structured finance practice. Altarescu was head of Goldman's mortgage finance group and co-head of its mortgage and asset-backed finance team.

At 2008 Political Conventions, Finance Sector Eyes Low (Or No) Profile

June 18, 2008 - For financial-services lobbyists the Presidential nominating conventions are like the championship of their sport, but this year is already shaping up as an exception to that rule.

Morgan Joseph Enters Structured Products Arena

June 17, 2008 - Morgan Joseph & Co. has launched a structured products group, naming Darren Wolberg and Dale Hoffman to serve as co-heads and managing directors of the new analytics and trading unit.

Homebuilder WCI Prepares For Other Options

June 16, 2008 - WCI Communities said it has formed a special committee of its board in order to review alternative restructuring proposals that it might receive from potential investors.

Ratings Actions & Outlooks

June 16, 2008 - The latest ratings actions and outlooks from Moody's and S&P.

Foreclosures Surge In May, RealtyTrac Says

June 13, 2008 - US property foreclosures jumped 48% in May from a year-ago and rose 7% from April, according to RealtyTrac, which keeps tabs on foreclosure activity in the US.