Hints and tips:
...And in recent years, the securitisation market has become a welcoming home to deals backed by everything from music rights to software companies’ private credit loans....
...The banks are still sitting on those bridge loans, having twice called off plans to syndicate the debt — though they did privately sell a chunk of the riskiest debt to the Canadian Pension Plan Investment...
...SoFi, the student loan financing company valued at $4.8bn, managed to sell a portfolio of loans to investors in late March....
...Gibson’s lenders hope it can emerge from Chapter 11 with a clean balance sheet and a focus on a core business that is healthy....
...Those who have paid off their mortgages may be able to borrow using their home as security for the loan — though they are then at risk of losing their home and business if things turn sour....
...Republic Bank and Trust Company, the Kentucky bank, lends to the public and pays Elevate a fee for its underwriting and branding....
...for marketplace lenders and probably something akin to a baptism of fire....
...But then Ms Madden disputed the credit collector’s right to charge a 27 per cent interest rate on the debt on the basis that her home state of New York, like many others, caps rates at a lower level....
...(Financial Times) US jury rules against BoA in mortgage trial: Bank of America defrauded two government-backed mortgage companies by selling them defective home loans, a jury found on Wednesday, delivering...
...Buoyant credit markets allowed them to push the maturities of their companies’ debt and distribute dividends to their investors....
...Sareb said said it had sold 51 per cent of a portfolio including 939 homes to HIG, in a deal valuing the assets at €100m....
...Berkshire Hathaway, the investment company run by Warren Buffett, has offered to buy the mortgage servicing business and loan portfolio of Residential Capital, the home lender that filed for bankruptcy with...
...The US Treasury gave the green light for the move on Monday and the subsidiary, known as Residential Capital, faces a wave of maturing debt next week....
...RBS bundled home loans from subprime lenders Fremont General, First Franklin Financial, Countrywide Financial, IndyMac and WMC Mortgage and packaged them into securities for sale to investors, Ms Coakley...
...The court filing made on Tuesday accused BNY Mellon of failing as trustee in multiple ways, especially in not forcing Countrywide to buy back faulty home loans but also because it put its own interests ahead...
...BofA, the largest home loan payment collector, recently told investors it expected prices to slide another 2.6 per cent by the end of 2012....
...It would also fund other schemes, such as distressed home sales in which outstanding debts are largely forgiven, payment forbearance for unemployed borrowers, the tearing down of dilapidated and vacant homes...
...BNY appointed a UK company as trustee of the Delaware trust, making the income it produced subject to UK tax....
...US Bancorp demanded that BofA be forced to repurchase all of the loans because so many – “an extraordinary 66 per cent of the loans” in a sample – breached Countrywide’s stated lending requirements....
...Certain federal and state agencies are using the settlement discussions as a way to heal the deteriorating housing market and secure fresh debt relief for distressed homeowners....
...for Lutherans, Trust Company of the West and Western Asset Management....
...Mr Costigan is now suing Citigroup, his lender, for denying him a permanent loan modification after putting him in a trial programme – and for moving to foreclose without producing paperwork that proved...
...Lehman failed and its failure was a result of soured real estate. There’s more. Countrywide, America’s largest mortgage lender, was bailed out by Bank of America....
...The New York-based group has since lost control of Countrywide after a debt-for-equity swap handed majority ownership to its rival Oaktree Capital....
...Later this month, the company will introduce the Bank of America Home Loans and Insurance brand to consumers....
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