Review Mortgage Lenders

Ace Mortgage Funding

House Session 2011-04-05 (12:00:09-13:05:35)

MORE BAILOUT MONEY TO COUNTER THE COMPANY'S MOUNTING MORTGAGE LOSSES. ALLOWING THIS GROSS MISMANAGEMENT OF PUBLIC FUNDS FOR EXTRAVAGANT -- THE ...

The stunning downfall of Bear Stearns and its bridge-playing CEO

Cayne 'played a lot of golf and bridge'

Cayne served as Bear's CEO for 15 years. He held that title until January 2008, when he stepped down as CEO but stayed on as chairman. In the tense months around that time, Cayne's hands-off management style led him to miss critical events that foreshadowed the meltdown.

When a pair of Bear Stearns hedge funds that bet on mortgages collapsed in July 2007, Cayne was playing a bridge tournament in Nashville, Tennessee, without a cellphone or email access, The Wall Street Journal reported at the time.

Despite the tremors on Wall Street that summer, Cayne typically took long weekends to play golf at a country club in New Jersey. On Thursdays, the CEO would take a $1,700 helicopter ride from Manhattan — he paid for it himself — to squeeze in a late-afternoon golf game and then another on Friday, the Journal reported.

The final report of the national commission on the 2008 financial crisis concluded that Bear's downfall was caused by its exposure to risky mortgages, heavy leverage and "weak corporate governance and risk management.

The question: How do I protect my self to make sure I will get my funds from Ace Mortgage.

Background; I am the seller of a lot with a mobile home in Greenville SC. The buyer and I have a Bond for title contract. The buyer wants to refinance the home using Ace Mortgage in Charlotte NC.. That is fine with me. There are no problems with this.


buyer has three days to agree to mortgage. once closing is started and papers signed-money is transfered.

доставка цветов петербург анапа . Заказать цветы с доставкой и доставка цветов в Москве