Mortgage banking is a numbers game. Although the illustration above might remind some of their CFO, in other circles it might illustrate what some mortgage bankers are facing right now: MI rescissions. Rescissions are not new. But what is this chatter about MI companies and their rash of rescinding coverage? One well-informed person wrote to [...]
Archive for November, 2009
Primer on MI Rescission; Updates from Wells, Flagstar, Freddie, PMI, FAMC; Rates Lower
November 3rd, 2009 by Mortgage Writer
Tags: borrower, foreclosure, Freddie Mac, investor, lender, loan, Mortgage Bankers, REO, short sales, wells fargo
more...CIT to Test Speed of Bankruptcy Court
November 2nd, 2009 by Mortgage Writer
Three months ago, the CIT Group barely averted what it considered to be a ruinous bankruptcy filing that would likely have put the 101-year-old lender out of business.
On Sunday afternoon, the company filed for Chapter 11 — but under a so-called prepackaged bankruptcy plan that will enable it to emerge from court protection by the [...]
Tags: American International Group, bankruptcy, bonholders, CIT Group, Evercore Partners, financial company, General Motors, investors, lender
Fatal error: Cannot redeclare pagenavi_textdomain() (previously declared in /home/mortlast/public_html/wp-content/themes/front-page/wp-pagenavi.php:34) in /home/mortlast/public_html/wp-content/themes/front-page/wp-pagenavi.php on line 35