Subprime mortgage crisis

NOTICE TO GOLDMAN SACHS CUSTOMERS WITH MARGIN ACCOUNTS: KlaymanToskes Commences Investigation Into Damages Sustained by Investors Who Were Forced to Sell Securities Due to Margin Calls

Friday, April 10, 2020 - 3:24am

KlaymanToskes (KT), www.klaymantoskes.com , announced today that it is investigating damages sustained by investors with Goldman Sachs Group (NYSE:GS) (Goldman) accounts who were forced to sell securities due to margin calls.

Key Points: 
  • KlaymanToskes (KT), www.klaymantoskes.com , announced today that it is investigating damages sustained by investors with Goldman Sachs Group (NYSE:GS) (Goldman) accounts who were forced to sell securities due to margin calls.
  • Recently, investors quickly saw the major stock indices lose significant value after closing on Friday, February 21, 2020, at near 52-week highs.
  • Many investment portfolios, like the stock indices, have also seen tremendous declines, leaving leveraged accounts especially at risk of margin calls.
  • Therefore, Goldman and its financial advisors are required to disclose to investors the risks of the use of margin.

NOTICE TO MERRILL LYNCH CUSTOMERS WITH MARGIN ACCOUNTS: KlaymanToskes Commences Investigation into Damages Sustained by Investors Who were Forced to Sell Securities Due to Margin Calls

Friday, April 10, 2020 - 2:38am

KlaymanToskes (KT), www.klaymantoskes.com , announced today that it is investigating damages sustained by investors with Merrill Lynch (NYSE:BAC) (Merrill) accounts who were forced to sell securities due to margin calls.

Key Points: 
  • KlaymanToskes (KT), www.klaymantoskes.com , announced today that it is investigating damages sustained by investors with Merrill Lynch (NYSE:BAC) (Merrill) accounts who were forced to sell securities due to margin calls.
  • Recently, investors quickly saw the major stock indices lose significant value after closing on Friday, February 21, 2020, at near 52-week highs.
  • Many investment portfolios, like the stock indices, have also seen tremendous declines, leaving leveraged accounts especially at risk of margin calls.
  • Therefore, Merrill and its financial advisors are required to disclose to investors the risks of the use of margin.

NOTICE TO UBS CUSTOMERS WITH MARGIN ACCOUNTS: KlaymanToskes Commences Investigation into Damages Sustained by Investors Who were Forced to Sell Securities Due to Margin Calls

Friday, April 10, 2020 - 2:38am

KlaymanToskes (KT), www.klaymantoskes.com , announced today that it is investigating damages sustained by investors with UBS (NYSE:UBS) accounts who were forced to sell securities due to margin calls.

Key Points: 
  • KlaymanToskes (KT), www.klaymantoskes.com , announced today that it is investigating damages sustained by investors with UBS (NYSE:UBS) accounts who were forced to sell securities due to margin calls.
  • Recently, investors quickly saw the major stock indices lose significant value after closing on Friday, February 21, 2020, at near 52-week highs.
  • Many investment portfolios, like the stock indices, have also seen tremendous declines, leaving leveraged accounts especially at risk of margin calls.
  • Therefore, UBS and its financial advisors are required to disclose to investors the risks of the use of margin.

First Financial Mortgage Announces Expansion To Austin, Election Of Irene Green To Senior Vice President

Thursday, April 9, 2020 - 10:08pm

In addition, Irene Green has been elected to Senior Vice President of Mortgage Lending.

Key Points: 
  • In addition, Irene Green has been elected to Senior Vice President of Mortgage Lending.
  • Both announcements were made by F. Scott Dueser, Chairman, President, and CEO of First Financial Bank, N.A.
  • "We are extremely pleased to expand our mortgage originations into the Austin area, and bring Irene Green to the First Financial Mortgage team," said Dueser.
  • Irene has more than 30 years in the financial services industry and more than 19 years in mortgage lending.

OCC Re-Elects Executive Chairman, Member and Public Directors at 2020 Stockholder Meeting

Thursday, April 9, 2020 - 3:07pm

OCC, the worlds largest equity derivatives clearing organization, today announced the re-election of Craig S. Donohue as Executive Chairman of the Board of Directors, along with the election of three Class I Member Directors and one Class II Public Director.

Key Points: 
  • OCC, the worlds largest equity derivatives clearing organization, today announced the re-election of Craig S. Donohue as Executive Chairman of the Board of Directors, along with the election of three Class I Member Directors and one Class II Public Director.
  • The vote occurred during OCCs annual stockholder meeting on April 7.
  • The following Directors were unanimously elected as Class I Member Directors:
    Thomas Barrett, Head of Global Futures and Derivative Clearing Services, Head of Global Clearing Prime Services, Goldman Sachs & Co. Mr. Barrett joined the OCC Board of Directors in 2020.
  • The following Director was unanimously elected as a Class II Public Director:
    Richard R. Lindsey, Managing Partner, Windham Capital Management, Inc. Mr. Lindsey joined the OCC Board of Directors in 2008.

Mortgage Rates Remain Flat

Thursday, April 9, 2020 - 3:00pm

While mortgage rates remained flat over the last week, there is room for rates to move down, said Sam Khater, Freddie Macs Chief Economist.

Key Points: 
  • While mortgage rates remained flat over the last week, there is room for rates to move down, said Sam Khater, Freddie Macs Chief Economist.
  • This year the 10-year Treasury market has declined by over a full percentage point, yet mortgage rates have only declined by one-third of a point.
  • As financial markets continue to heal, we expect mortgage rates will drift lower in the second half of 2020.
  • Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage.

TIFF Investment Management Appoints Former Goldman Sachs Partner, Kane Brenan, as New President

Thursday, April 9, 2020 - 1:00pm

TIFF Investment Management has appointed a new President as part of the firms succession planning.

Key Points: 
  • TIFF Investment Management has appointed a new President as part of the firms succession planning.
  • View the full release here: https://www.businesswire.com/news/home/20200409005084/en/
    TIFF Investment Management Appoints Former Goldman Sachs Partner, Kane Brenan, as New President (Photo: Business Wire)
    Kane Brenan, who most recently served as Global Head and Co-Chief Investment Officer of the Global Portfolio Solutions (GPS) group for Goldman Sachs, will become TIFFs President effective Monday, April 13, 2020.
  • Kane and TIFF CEO, Dick Flannery, will work closely together to ensure a smooth leadership transition for the firm and the charitable organizations it serves.
  • I have had an extraordinary experience at Goldman Sachs and I am now excited to join TIFF and pursue the firms important mission.

Waddell & Reed Financial, Inc. Announces March 31, 2020 Assets Under Management

Thursday, April 9, 2020 - 11:45am

The preliminary information included in this news release reflects management's estimate based on currently available information.

Key Points: 
  • The preliminary information included in this news release reflects management's estimate based on currently available information.
  • Estimates are subject to change.
  • Accordingly, you should not place undue reliance upon this preliminary information.
  • Through its subsidiaries, Waddell & Reed Financial, Inc. has provided investment management and wealth management services to clients throughout the United States since 1937.

Camden National Corporation to Announce First Quarter 2020 Financial Results on April 28, 2020

Wednesday, April 8, 2020 - 9:28pm

Camden National Corporation (NASDAQ:CAC) is the largest publicly traded bank holding company in Northern New England with $4.4 billion in assets and 650 employees.

Key Points: 
  • Camden National Corporation (NASDAQ:CAC) is the largest publicly traded bank holding company in Northern New England with $4.4 billion in assets and 650 employees.
  • Camden National Bank, its subsidiary, is a full-service community bank founded in 1875 in Camden, Maine.
  • The Finance Authority of Maine has awarded Camden National Bank as "Lender at Work for Maine" for ten years.
  • Comprehensive wealth management, investment and financial planning services are delivered by Camden National Wealth Management.

UBS launches new client initiative providing access to the Small Business Administration's Paycheck Protection Program

Wednesday, April 8, 2020 - 11:00pm

UBS has currently made over 2,200 referrals of PPP loans to date, which represents over $1 billion of loans.

Key Points: 
  • UBS has currently made over 2,200 referrals of PPP loans to date, which represents over $1 billion of loans.
  • The firm will also be redirecting fees associated with this initiative in order to continue to support small businesses across the US.
  • Any fees generated will be donated to provide relief through emergency grants and funding to small business owners in underserviced populations.
  • UBS provides financial advice and solutions to wealthy, institutional and corporate clients worldwide, as well as private clients in Switzerland.