"Lenders will use a two-year average to derive self-employed income, " says Karen Mayfield, national mortgage sales manager at Bank of the West.
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Hong, 27, spends his days as a senior project manager at a mortgage finance company and nights working on an M.
In 1992, I was a Loan Officer with Paine Webber Mortgage in Cranford, New Jersey and the great Chris Puorro (legendary mortgage management tough guy), was my sales manager.
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John Paulson, the hedge fund manager who minted billions by shorting the mortgage market (apparently with the help of Goldman Sachs), was also big-time short on the broker-dealers as early as January 2007.
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Depending on where interest rates head, "we could see an increase in this type of activity, " says Brad Blackwell, portfolio business manager of Wells Fargo's home-mortgage unit.
Faced with another hefty quarterly loss, it is shopping both its worst assets (a toxic commercial-mortgage portfolio) and its best (Neuberger Berman, a fund manager).
Faced with another big quarterly loss, it is hawking around both its worst assets (a toxic commercial-mortgage portfolio) and its best (Neuberger Berman, a fund manager).
John Paulson, the hedge fund manager who pulled off the greatest trade ever betting against subprime mortgage securities, is the largest owner of Gabriel, owning a 16% stake through his hedge funds.
John Paulson, the hedge fund manager who pulled off the greatest trade ever by betting against subprime mortgage securities, has experienced two difficult years.
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"I am 38 and I want to get a mortgage paid off by the time I retire, " said the NHS service manager, who lives in north London.
Many people, such as bond-market guru Bill Gross, the managing director of fixed-income manager PIMCO, have said that part of the blame in the mortgage crisis lies with the rating agencies who gave mortgage securities high markets.
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