Norwest to Acquire Prudential Mortgage
Norwest Mortgage Co plans to buy Prudential Mortgage Co with Frederick and Springfield service centers. The Frederick site employs about 800, with most staff staying or transferring to Norwest. The deal aims to expand Norwest’s mortgage portfolio to about 147 billion and is expected to close in the second quarter.
MENTIONED IN THIS ARTICLE
Prudential Home Mortgage Co
Frederick
Norwest Mortgage Co
Frederick Center
Norwest
Anita Liskey
Des Moines
Iowa
Ms. Liskey
Norwes
Prudential
Prudential Service Center
Rick Matthews
Mark Oman
United States
Michael Caulfield
Prudential Mortgage Co
270 Technology Park
MD. 355
Beltway Title opens new Frederick office in Festival Shopping Center
Beltway Title & Abstract Inc expands to Frederick at 452 Prospect Blvd in Festival Shopping Center, its ninth office. Headquartered in Crofton, the firm has 26 years in real estate settlements and serves Frederick and Hagerstown with 24 hour on call attorneys, flexible settlement times, and an experienced staff including Colleen Binck and Ginger Bigelow with 25 years each, and Kelly Wood as processor. For more information call 631-8300.
MENTIONED IN THIS ARTICLE
Beltway Title & Abstract
Prospect Blvd
Frederick
Colleen Binck
Kelly Wood
Ginger Bigelow
Beltway Title & Abstract Inc
Festival
Crofton
Hagerstown
Treasury Inflation T-bills rise in Monday auction rates
In Washington, the Treasury Department sold 141 billion dollars of three month bills at an average discount rate of 5.01 percent, up from 4.99 percent last week. An additional 14 billion was sold in six month bills at 4.90 percent, up from 4.88 percent.
MENTIONED IN THIS ARTICLE
Treasury Department
Dow up 33.23 points as Fed meeting looms in volatile trading
The Dow rose 33.23 to 5,304.98 as stocks extended last week's gains amid delay in government reports due to a shutdown. NYSE volume at 365.18 million. Nasdaq rose 1.37. Investors await Fed rate decision with unemployment, retail, and other data due this week. Apple fell 11 percent on junk rating for bonds after hours.
MENTIONED IN THIS ARTICLE
NEW York
Federal Reserve
New York Stock Exchange
Standard & Poor
American Stock Exchange
Fed
Fed may cut rates again as economy slows
Analysts expect the Federal Reserve to trim the federal funds rate at the end of its two day meeting, potentially reducing it to 5.25 percent and pulling the prime lending rate lower from 8.5 percent. If delayed, Greenspan may be authorized to act before March 26. Economists note GDP has slowed from 3.2 percent in late last year to near 1 percent in early 1995, fueling bets on easing to avert a downturn.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Fed
Federal Open Market Committee
Lyle Gramley
The
Mortgage Bankers Association
Fed Board
Central Bank
National Association of Business Economists
NABE
David Berson
Federal National Mortgage Association
Alan Greenspan
David Jones
Aubrey G. Lanston & Co
New York
Clinton
Jones
Treasury
Daiwa to sell US assets to Sumitomo for 3.37 billion
Osaka based Daiwa Bank agreed to sell most U.S. loans and assets to Sumitomo Bank for 3.37 billion dollars. Sumitomo pays 65 million for branches in 15 cities and for Daiwa Bank Trust Co. subsidiary. remainder covers equal amount of loans and related assets. Federal Reserve ordered Daiwa to end U.S. operations within 99 days amid U.S. fraud and conspiracy charges over 1.1 billion in bond losses at New York branch.
MENTIONED IN THIS ARTICLE
Tokyo
Daiwa Bank
United States
Sumitomo Bank Ltd
Sumitomo
Daiwa Commercial Bank
U.S
Daiwa Bank Trust Co
Daiwa
New York
Osaka
Japan
Federal Reserve
Also Mentioned on This Page
Prudential Mortgage
Ed Waters Jr
Dow
Peter Anderson
IDS Advisory Group
Minneapolis
Larry Wachtel
Prudential Securities Inc
NYSE
DuPont
Merck
Apple Computer
Sun Microsystems
S&p
Apple
Frankfurt
London
Carroll County Bank and Trust Company
Mt. Airy Call
Taneytown
Carroll County Bank AndTrust Company
FDIC
Mt. Airy
Twin Arch
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