Hints and tips:
...If customers aren’t gorging on subscription lines, margin loans, interest-only mortgages and other tailored debts, it diminishes the selling points of a bank....
...Deutsche Bank assigned the mortgage to an entity called Aquila Alpha LLC in March of 2016, according to a foreclosure complaint filed on 4 Nov 2016....
...The successful auction follows the sale of ResCap’s mortgage servicing business to Ocwen Financial for $3bn on Wednesday after it won a bidding war with Nationstar Mortgage....
...Ocwen Financial fought off stiff competition from Nationstar Mortgage to win a bankruptcy court auction of Residential Capital’s mortgage servicing and origination business....
...Ocwen Financial and NationStar Mortgage will compete for the chance to buy the business at the Sheraton Hotel in New York. They have both valued the ResCap rights at around $2.5bn....
...Berkshire also sought to displace Nationstar, a mortgage company backed by Fortress Investment Group, as the stalking horse bidder for the mortgage business....
...ResCap, the mortgage unit of Ally Financial, which has been majority owned by the US government since the bailout of General Motors, filed for bankruptcy with Treasury permission last month....
...But the judge selected Nationstar, a mortgage servicer majority owned by Fortress, which ResCap had originally proposed as the stalking horse bidder....
...ResCap will add $374bn to the almost $200bn of mortgage assets already serviced by Nationstar, the largest non-bank mortage loan servicer in the US....
...A judge has ordered an independent examination of the bankruptcy of Residential Capital, the mortgage business of Ally Financial, a majority government-owned lender....
...Nationstar Mortgage, a mortgage servicer backed by Fortress Investment Group, raised $233m last month despite having a post-IPO leverage ratio of 7.8 times – the highest level in at least three years for...
...The ResCap auction is taking place at the same time as the estate of the bankrupt Lehman Brothers investment bank is seeking a buyer for Aurora, its Delaware-based mortgage servicer....
International Edition