The number of FHA home equity conversion mortgages set a single-year record in fiscal 2009, and the result will be a continuing increase in the value of the HECM portfolio, according to an audit of the HECMs on the book done by IBM Global Business Services. HECM originations increased 24.2 percent from fiscal 2008, and the $8.42 billion in HECM loans made in the final three months of the fiscal...
Some SWFs in other countries have extensive ownership interests in major corporations and sweep much of their profits into state coffers.
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