Subprime Lender Quality Home Loans Files for Bankruptcy – Quality Home Loans, a subprime mortgage lender, has filed for Chapter 11 bankruptcy, joining at least a dozen other home loan providers to seek court protection this year as the U.S. housing.
Mortgage rates continued rising in the last week, eventually breaching 4% for the first time since last summer, according to Freddie Mac’s latest primary mortgage Market Survey. Freddie Mac’s report,
Nationstar Mortgage and Flagstar Bank are among two of the best mortgage servicers in the country, according to Fannie Mae, which recently bestowed both with awards for their servicing performance..
FHFA delays principal reduction ruling Wells Sees 60-70% Loss Severity in Option-ARMs 1. What is the new Principal Reduction Modification program offered by Fannie Mae and Freddie Mac (the Enterprises)? The Enterprises, at the direction of the Federal Housing finance agency (fhfa), are implementing a principal reduction modification program for some seriously delinquent, underwater borrowers whose loans are owned or guaranteed by Fannie Mae or Freddie Mac.
Getting A Mortgage After Bankruptcy While bankruptcy may negatively impact your ability to obtain a mortgage, it is possible to qualify for a mortgage after filing for bankruptcy. The bankruptcy, which is listed in the public record information section of a credit report, remains for seven years from the filing date of a Chapter 13 bankruptcy.
Good Day. Fuse Media Inc., a cable company whose backers include Jennifer Lopez, filed for bankruptcy with a prepackaged plan that hands control of the company to its bondholders. Synergy.
General Electric Co on Tuesday put the remnants of its WMC Mortgage unit into bankruptcy, 11 days after paying a $1.5 billion U.S. fine over defective subprime mortgages issued by WMC before the 2008 financial crisis. The Chapter 11 filing affords "finality" for WMC, given its limited cash
(Reuters) – General Electric Co on Tuesday put the remnants of its WMC Mortgage unit into bankruptcy, 11 days after paying a $1.5 billion U.S. fine over defective subprime mortgages issued by WMC.
Ocwen Financial’s streak of settling with states that previously took regulatory actions against Ocwen over alleged escrow issues by restricting Ocwen’s ability to acquire new mortgage servicing.
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WMC was targeted by federal bank regulators as one of the worst subprime mortgage lenders that fueled the 2008 financial crisis, which cost investors in the junk-quality assets to lose billions.
WMC said it has no funded debt but owes about $94 million to GE Capital as a result of intercompany loans. It filed Chapter 11 to protect its limited assets – about $175,000 in cash – from any.
GE’s WMC Mortgage unit, felled by financial crisis, files Chapter 11 bankruptcy – General Electric Co on Tuesday put the remnants of its WMC Mortgage unit into bankruptcy, 11 days after paying a US$1.5 billion U.S. fine over defective subprime mortgages issued by WMC before the.