National City Corp. was sued on behalf of an individual who invested in its 4 percent convertible senior notes, the plaintiffs’ law firm announced. The lawsuit accuses the National City and other defendants of misrepresenting the quality of residential mortgages. NovaStar Financial Inc. has agreed to settle a pending investor class action, a Securities and Exchange Commission filing said. Goldman Sachs & Co. is among several defendants in a lawsuit filed on behalf of investors in some GS Mortgage Securities Corp. securitizations issued last year, an announcement said. (more…)
Shore Mortgage is recruiting 100 new employees, a press release said. The hirings are planned over the next three months. The expansion is the result of substantial activity this year and anticipated 2009 activity. (more…)
During the past 12 months, SurePoint Lending told MortgageDaily.com that it has hired more than 300 people. The company originates primarily government loans. Next year, the company expects to hire another 300 employees. (more…)
Wachovia Corp. shareholders have approved the acquisition of the company by Wells Fargo & Co., an announcement said. M&T Bank Corp. will acquire Provident Bankshares Corp., a news release said. Wintrust Financial Corp. said that it acquired some of the assets of Professional Mortgage Partners. Wells, M&T and Wintrust have each announced participation in the Troubled Asset Relief Program. (more…)
