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Xpatriot
333 Posts |
 Posted - 05/20/2008 : 12:31:02 PM
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| so my junior LO is a roomate for southern Ca top AE for Bear and he has been telling me that my rep has been sitting around in shorts all day for the past month. So i call him today with two packages i am looking to submit and he says that Bear has been bought out by a securities firm, they have two days to fund all loans and then the announcement of the buyout will be made along with the name change. couldnt get much more out of him, but i thought i would share. |
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EMScommercial
5141 Posts |
Posted - 05/20/2008 : 12:42:33 PM
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| isn't this old news? or am i confused? |
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Xpatriot
333 Posts |
Posted - 05/20/2008 : 12:49:16 PM
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| there changing hands again, they will no longer be bear stearns. |
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Mortgage Man
46 Posts |
Posted - 05/20/2008 : 12:53:07 PM
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| JP Morgan Chase agreed to buy them for $2 a share 2-3 months ago. This story came out yesterday, http://biz.yahoo.com/ap/080520/jpmorgan_chase.html. |
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Xpatriot
333 Posts |
Posted - 05/20/2008 : 12:56:49 PM
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quote:
Originally posted by Mortgage Man
JP Morgan Chase agreed to buy them for $2 a share 2-3 months ago. This story came out yesterday, http://biz.yahoo.com/ap/080520/jpmorgan_chase.html.
linky is no good. |
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Mortgage Man
46 Posts |
Posted - 05/20/2008 : 1:02:58 PM
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| just go to yahoo business or CNN they both have the article. |
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ugaagent
317 Posts |
Posted - 05/20/2008 : 2:06:54 PM
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| you guys are wrong. JP Morgan Chase is buying bear stearns but Bear Stearns Residential Mortgage is a separate entity and separate platform that is run by three partners that started First National bank of Arizona. I don't know the exact ownership percentages that Bear Stearns had but the partners are able to sell the platform with Bear's permission. Look for this to happen very very very soon...... |
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