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American Home Mortgage
American Home Mortgage Investment Corporation was the 10th largest retail mortgage lender in the United States and was structured as a real estate investment trust (REIT). In 2007, it filed for bankruptcy and was liquidated. The company was focused on earning net interest income from self-originated loans and mortgage-backed securities, and through its taxable subsidiaries, from originating and servicing mortgage loans for institutional investors. Mortgages were originated through the company's employees as well as through mortgage brokers and purchased from correspondent lenders and were serviced at the company's servicing center in Irving, Texas. The company filed for Chapter 11 bankruptcy protection in Wilmington Delaware federal court, on August 6, 2007. The week before the filing, the company said that many of its lenders had demanded their money back, and that AHM was also unable to deliver on about US$800 million in commitments for housing loans, and had laid off nearly n ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Melville, NY
Melville is an affluent hamlet and census-designated place (CDP) in the Town of Huntington in Suffolk County on Long Island, New York. The population was 19,284 at the 2020 census. History The area was known to the Native Americans as ''Sunsquams''. In the 17th century it was known as Samuel Ketcham's Valley, named for a local resident. Afterwards it was known as Sweet Hollow. This name was replaced by Melville in school records in 1854. There is some debate as to the origin of the Melville name. It may be derived from the Latin for honey (the area had an abundance of honey bees, and this may have also been the origin of the previous Sweet Hollow name). The author Herman Melville was being published around this time. A Presbyterian church was built in Melville in 1829 at the corner of Old Country and Sweet Hollow Roads. In 1977 the church was moved to the west. The church was in continuous use until 1930. It reopened in 1944 for the funeral of Edward Baylis and has been in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chapter 11, Title 11, United States Code
Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whether organized as a corporation, partnership or sole proprietorship, and to individuals, although it is most prominently used by corporate entities. In contrast, Chapter 7 governs the process of a liquidation bankruptcy, though liquidation may also occur under Chapter 11; while Chapter 13 provides a reorganization process for the majority of private individuals. Chapter 11 overview When a business is unable to service its debt or pay its creditors, the business or its creditors can file with a federal bankruptcy court for protection under either Chapter 7 or Chapter 11. In Chapter 7, the business ceases operations, a trustee sells all of its assets, and then distributes the proceeds to its creditors. Any residual amount is returned to the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Defunct Real Estate Companies Of The United States
{{Disambiguation ...
Defunct (no longer in use or active) may refer to: * ''Defunct'' (video game), 2014 * Zombie process or defunct process, in Unix-like operating systems See also * * :Former entities * End-of-life product * Obsolescence Obsolescence is the state of being which occurs when an object, service, or practice is no longer maintained or required even though it may still be in good working order. It usually happens when something that is more efficient or less risky r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Companies That Filed For Chapter 11 Bankruptcy In 2007
A company, abbreviated as co., is a legal entity representing an association of people, whether natural, legal or a mixture of both, with a specific objective. Company members share a common purpose and unite to achieve specific, declared goals. Companies take various forms, such as: * voluntary associations, which may include nonprofit organizations * business entities, whose aim is generating profit * financial entities and banks * programs or educational institutions A company can be created as a legal person so that the company itself has limited liability as members perform or fail to discharge their duty according to the publicly declared incorporation, or published policy. When a company closes, it may need to be liquidated to avoid further legal obligations. Companies may associate and collectively register themselves as new companies; the resulting entities are often known as corporate groups. Meanings and definitions A company can be defined as an "artificial pe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Keefe, Bruyette & Woods
Keefe, Bruyette & Woods, Inc., ''a Stifel Company'', is an investment banking firm headquartered in New York City, specializing exclusively in the financial services sector. KBW's primary business lines include research, corporate finance, equity sales and trading, equity capital markets, debt capital markets, and asset management. The firm provides a broad range of services to corporate clients such as banking companies, insurance companies, real estate and REITs, broker-dealers, mortgage banks, asset management companies, and specialty finance firms as well as to the institutional investor community. KBW's research analysts cover more than 600 companies in the financial services industry globally. The company, which was founded in 1962, currently has nine offices in the United States as well as an office in London. In 2013, KBW was acquired by Stifel Financial, a financial services holding Company, for $575 million. KBW has advised on 65 percent of all bank M&A since 2017 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Subprime Lending
In finance, subprime lending (also referred to as near-prime, subpar, non-prime, and second-chance lending) is the provision of loans to people in the United States who may have difficulty maintaining the repayment schedule. Historically, subprime borrowers were defined as having FICO scores below 600, although this threshold has varied over time. These loans are characterized by higher interest rates, poor quality collateral, and less favorable terms in order to compensate for higher credit risk. Many subprime loans were packaged into mortgage-backed securities (MBS) and ultimately defaulted, contributing to the financial crisis of 2007–2008.Lemke, Lins and Picard, ''Mortgage-Backed Securities'', Chapter 3 (Thomson West, 2013 ed.). Defining subprime risk The term ''subprime'' refers to the credit quality of particular borrowers, who have weakened credit histories and a greater risk of loan default than prime borrowers. As people become economically active, records are cre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Default (finance)
In finance, default is failure to meet the legal obligations (or conditions) of a loan, for example when a home buyer fails to make a mortgage payment, or when a corporation or government fails to pay a bond which has reached maturity. A national or sovereign default is the failure or refusal of a government to repay its national debt. The biggest private default in history is Lehman Brothers, with over $600 billion when it filed for bankruptcy in 2008. The biggest sovereign default is Greece, with $138 billion in March 2012. Distinction from insolvency, illiquidity and bankruptcy The term "default" should be distinguished from the terms "insolvency", illiquidity and " bankruptcy": * Default: Debtors have been passed behind the payment deadline on a debt whose payment was due. * Illiquidity: Debtors have insufficient cash (or other "liquefiable" assets) to pay debts. * Insolvency: A legal term meaning debtors are unable to pay their debts. * Bankruptcy: A legal finding tha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
REIT
A real estate investment trust (REIT) is a company that owns, and in most cases operates, income-producing real estate. REITs own many types of commercial real estate, including office and apartment buildings, warehouses, hospitals, shopping centers, hotels and commercial forests. Some REITs engage in financing real estate. Most countries' laws on REITs entitle a real estate company to pay less in corporation tax and capital gains tax. REITs have been criticised as enabling speculation on housing, and reducing housing affordability, without increasing finance for building. REITs can be publicly traded on major exchanges, publicly registered but non-listed, or private. The two main types of REITs are equity REITs and mortgage REITs (mREITs). In November 2014, equity REITs were recognized as a distinct asset class in the Global Industry Classification Standard by S&P Dow Jones Indices and MSCI. The key statistics to examine the financial position and operation of a REIT inclu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
NASDAQ
The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second on the list of stock exchanges by market capitalization of shares traded, behind the New York Stock Exchange. The exchange platform is owned by Nasdaq, Inc., which also owns the Nasdaq Nordic stock market network and several U.S.-based stock and options exchanges. History 1971–2000 "Nasdaq" was initially an acronym for the National Association of Securities Dealers Automated Quotations. It was founded in 1971 by the National Association of Securities Dealers (NASD), now known as the Financial Industry Regulatory Authority (FINRA). On February 8, 1971, the Nasdaq stock market began operations as the world's first electronic stock market. At first, it was merely a "quotation system" and did not provide a way to perform electronic trade ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The New York Times
''The New York Times'' (''the Times'', ''NYT'', or the Gray Lady) is a daily newspaper based in New York City with a worldwide readership reported in 2020 to comprise a declining 840,000 paid print subscribers, and a growing 6 million paid digital subscribers. It also is a producer of popular podcasts such as '' The Daily''. Founded in 1851 by Henry Jarvis Raymond and George Jones, it was initially published by Raymond, Jones & Company. The ''Times'' has won 132 Pulitzer Prizes, the most of any newspaper, and has long been regarded as a national " newspaper of record". For print it is ranked 18th in the world by circulation and 3rd in the U.S. The paper is owned by the New York Times Company, which is publicly traded. It has been governed by the Sulzberger family since 1896, through a dual-class share structure after its shares became publicly traded. A. G. Sulzberger, the paper's publisher and the company's chairman, is the fifth generation of the family to head the pa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Irving, Texas
Irving is a city in the U.S. state of Texas. Located in Dallas County, it is also an inner ring suburb of Dallas. The city of Irving is part of the Dallas–Fort Worth metroplex. According to a 2019 estimate from the United States Census Bureau, the city population was 239,798, making it the thirteenth-most populous city in Texas, and 93rd most populous city in the U.S. Irving is noted for its racial and ethnic diversity, and has been ranked as one of the most diverse cities in the United States. Irving includes the Las Colinas mixed-use master-planned community and part of the Dallas/Fort Worth International Airport. History Irving was founded in 1903 by J.O. "Otto" Schulze and Otis Brown. It is believed literary author Washington Irving was a favorite of Netta Barcus Brown, and consequently the name of the town site, Irving, was chosen. Irving began in 1889 as an area called Gorbit, and in 1894 the name changed to Kit. Irving was incorporated April 14, 1914, with Otis Bro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Finance
Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of financial economics bridges the two). Finance activities take place in financial systems at various scopes, thus the field can be roughly divided into personal, corporate, and public finance. In a financial system, assets are bought, sold, or traded as financial instruments, such as currencies, loans, bonds, shares, stocks, options, futures, etc. Assets can also be banked, invested, and insured to maximize value and minimize loss. In practice, risks are always present in any financial action and entities. A broad range of subfields within finance exist due to its wide scope. Asset, money, risk and investment management aim to maximize value and minimize volatility. Financial analysis is viability, stability, and profitability asse ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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