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Thursday July 03 , 2008 :: |
Industry News
Reo Management News provides information that is timely and critical to your business. Stay informed of the latest news in the industry right here.
Latest News
10-05-2006
Tough Decisions
Top of the league, a 100% record in Europe and United's best player hasn't even started performing yet. All in all, there are many reasons to be cheerful as we take a fortnight's break for the upcoming internationals. Read More |
10-06-2006
Correction: Fitch Affirms IndyMac Bank FSB's Resi Servicer Ratings
Fitch Ratings has affirmed IndyMac Bank, FSB's (IndyMac) primary servicer ratings of 'RPS2+' for prime, Alt-A, subprime and the 'RSS2+' special servicer rating. The ratings are based on IndyMac's experienced management team, solid capabilities in loan administration and default management, reliable servicing technology platform, established training programs, and effectiveness in servicing non-performing loans and liquidating real estate owned assets.
Read More |
10-09-2006
Taylor stakes his claim
Peter Taylor's mobile phone was filled with congratulatory text messages yesterday, but he has yet to receive one reading: "OK, you win, stay of execution granted. Steve."
Despite an impressive showing from Taylor's England Under-21 side as they beat Germany 1-0 in the first leg of a European Championship qualifying play-off on Friday night, it is no secret that Steve McClaren wants to replace the junior coach. Read More |
10-09-2006
U.S. Foreclosure Rate Continues Upward Trend With 14.4% Increase in Q3
Foreclosure activity in September 2006 remained relatively strong with an estimated 103,000 properties entering some stage of the foreclosure process during the 30 day period. And while this represents a dip of about 10 percent in foreclosure activity compared with a near record previous month in August, it represents a 51 percent increase in foreclosure activity compared to September 2005. (PRNewsFoto/Bargain Network) Read More |
10-09-2006
Launch of IMF’s Regional Economic Outlook for the Middle East and Central Asia
IMF Regional Economic Outlook for the Middle East and Central Asia sees positive near-term economic outlook, but highlights the need for policies to strengthen resilience to downside risks
The International Monetary Fund (IMF) today presented the September 2006 Middle East and Central Asia Regional Economic Outlook (REO) at the Dubai International Financial Centre. Mr. Mohsin Khan, Director of the IMF’s Middle East and Central Asia Department, highlighted the report’s main findings:
Read More |
10-09-2006
Eyelit's Award Winning Integrated Manufacturing Execution and Quality Software Suite Selected by Overland Storage to Support Discrete Electronics
SAN JOSE, Calif.--(BUSINESS WIRE)--Eyelit, Inc., a manufacturing software provider for visibility, control and coordination of manufacturing operations for the electronics, life sciences, and semiconductor industries announced today that Overland Storage, a market leader of simply protected storage solutions, purchased Eyelit's Enterprise Manufacturing Execution and Quality suite to manage and control its production operations as it restores manufacturing, test and integration operations at the company’s San Diego, CA facility. Read More |
10-10-2006
Williams & Williams Expands Team with Experienced Additions
TULSA, Okla.--(BUSINESS WIRE)--Williams & Williams, the nation’s highest-volume real estate auction firm, continues its expansion in 2006 with the addition of Fontana Fitzwilson, as vice president of corporate research and retail marketing, and Kevin Block as national corporate sales. Fitzwilson is responsible for leading the firm’s strategic marketing and research endeavors and guiding corporate sales and strategic business objectives for Williams & Williams, while Block’s duties include facilitating real estate underwriting transactions between the firm and corporate and financial institutions Read More |
10-11-2006
Storage special: Just can't get enough
Compliance and competitive advantage are driving an insatiable demand for storage.
The demand for storage is driven by the desire of organisations to improve their business intelligence and their need to comply with data retention legislation.
Read More |
10-12-2006
Fitch Affirms EMC's Primary Svcr Ratings & Assigns Master Svcr Rating
NEW YORK--(BUSINESS WIRE)--Fitch Ratings affirms EMC Mortgage Corp.'s (EMC) residential primary servicer ratings for subprime and Alt-A products at 'RPS1', and its special servicer rating at 'RSS1'. In addition, Fitch assigns EMC a residential master servicer rating of 'RMS3+'. The primary servicer ratings are based on EMC's seasoned, tenured management, strong internal procedures and controls, upgraded technology and robust leadership and training programs. Read More |
10-12-2006
Chip Design Firm Scuttles Tape
The IT manager at the firm, which makes software for designing semiconductors, says he's gone through a combination of Data Domain de-duplication appliances and EMC and Network Appliance primary storage. The result, says Pethuraj Perumal, has been to improve backup reliability and manageability.
Read More |
10-13-2006
IA Global Announces Equity Investment In Australian Company, Expects to Increase Stockholder's Equity Above $6,000,000
TAMPA, Fla., Oct. 13 /PRNewswire-FirstCall/ -- IA Global, Inc. (Amex: IAO - News) announced today it has signed a non-binding Term Sheet to acquire a 36% interest in Australian Secured Financial Limited and its affiliates, Australian Secured Investments Ltd and ADJ Services Pty Ltd. (collectively, "ASFL"), Australian companies, on October 11, 2006. The transaction is structured as a share exchange in which IAO will issue 43,750,000 shares of its common stock in exchange for 36% of ASFL's outstanding common shares. Read More |
10-14-2006
New chapter for Canaries
A day that began with rumours that the former Canaries midfielder was a front-runner in the managerial merry-go-round intensified when leading bookmakers closed betting late yesterday morning and then reached fever pitch in the afternoon, forcing City to put an end to the constant round of speculation with an official announcement.
Read More |
10-15-2006
Overland Storage Announces Termination of OEM Contract
Overland noted that the expense to date related to preparation for the Dell business had been significant, and that it would immediately cease spending on the program. Although Overland is still assessing the impact of the announcement, it currently believes that the write-off of tools and equipment unique to the Dell program will be relatively small and that most assets can be redeployed to support the company's branded business. Read More |
10-19-2006
Today's Community News
Volunteers needed for Habitat House in a Box: About six Staunton Augusta Waynesboro Habitat for Humanity volunteers will meet at the K-Mart parking lot at 9 a.m. Oct. 23 to plan a home for a Jackson, Miss., family who lost their home during Hurricane Katrina. The team, led by experienced building volunteers from First Baptist Church of Waynesboro, will be joined by teams and/or individuals from local businesses, churches, government offices, schools and other organizations. With notes and prayers on the two-by-fours from those who helped build and sponsor the project, 35 completed wall panels will be loaded into a truck donated by Reo Distribution Services Inc. The truck will depart for Jackson on Oct. 27 to become a Habitat home for a family next spring. Anyone interested in participating in the build should call 942-3852. Read More |
10-20-2006
Chasing the Real Estate Bubble
LEVITTOWN, Pa., Oct. 19 /PRNewswire/ -- Asset Management Specialists Inc. (AMS), real estate foreclosure specialists providing field services to banks and lending institutions, is chasing the Real Estate Bubble and anticipating opportunity in the face of a burst. AMS currently provides field services to thousands of homes that have fallen into foreclosure. With the increase in the foreclosure rate nationwide, AMS has positioned itself to assist the national mortgage banking community in managing and disposing their increased housing portfolios. Soaring foreclosure rates mean rising costs to handle the expanding inventory. Read More |
10-20-2006
Overland unveils ULTAMUS RAID primary storage
Oct 19 -- Overland Storage Inc. unveiled this week its ULTAMUS RAID family of protected primary storage appliances, which it described as a robust, affordable alternative to costly, high-end storage area networks (SANs) as well as direct-attached and internal server-based storage. The company is positioning the product line at small to mid-sized businesses, workgroups and environments with enterprise-level storage needs. Read More |
10-20-2006
People's Bank Reports Third Quarter Earnings of $17 Million or $0.12 Per Share; Results Reflect Further Balance Sheet Restructuring
BRIDGEPORT, Conn., Oct. 19 /PRNewswire-FirstCall/ -- People's Bank (Nasdaq: PBCT - News), an $11 billion financial services company, today announced net income of $17.0 million, or $0.12 per share, for the third quarter of 2006, compared to $33.5 million, or $0.24 per share, for the third quarter of 2005. The current quarter's results include a previously-disclosed after-tax loss of $15.7 million, or $0.11 per share, from the sale of securities as part of further balance sheet restructuring activities. Read More |
10-21-2006
Chasing the Real Estate Bubble
LEVITTOWN, Pa., Oct. 19, 2006 -- Asset Management Specialists Inc. (AMS), real estate foreclosure specialists providing field services to banks and lending institutions, is chasing the Real Estate Bubble and anticipating opportunity in the face of a burst. AMS currently provides field services to thousands of homes that have fallen into foreclosure. Read More |
10-21-2006
Temple Club shuts down
“We’re coming off our best summer ever and our sales have been improving every year,” Jerome White, general manager of The Temple Club, said in October 2005 when celebrating the Old Town nightclub’s fourth anniversary.
Read More |
10-23-2006
Sterling Financial Corporation of Spokane, Washington, Announces Solid Third Quarter 2006 Earnings, Reflecting Continued Strong Loan and Deposit Growth
SPOKANE, Wash., Oct. 23 /PRNewswire-FirstCall/ -- Sterling Financial Corporation (Nasdaq: STSA - News) today announced earnings of $19.3 million, or $0.52 per diluted share, for the quarter ended September 30, 2006, compared to earnings of $13.9 million, or $0.40 per diluted share, for the same period in the prior year. Sterling reported core earnings of $19.6 million, or $0.53 per diluted share, for the quarter ended September 30, 2006, compared to core earnings of $13.9 million or $0.40 per diluted share for the quarter ending September 30, 2005. Read More |
10-24-2006
SATA boosts RAID-6 use
RAID-6, otherwise known as dual parity, is not a new technology -- it has been around, at least in theory, for close to 20 years. Still, it's only recently that a double dose of parity calculations has been practical to implement, thanks to more powerful RAID processors. So far, RAID-6 has found the most real-world success with SATA storage, according to industry experts, who see a flurry of adoption with SATA users within the next year to 18 months.
Read More |
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