According to reports Monday, Freemont General Corp. has found a buyer for its home loan business. Freemont has said it signed a letter of intent and is negotiating a sale of most of its residential lending business, including the portion that services the loans it has originated. For more information, check out these stories. San [...]
Another story involving a fast food employee and identity theft. This time, Justin Matthew Kirk, well maybe Justin Matthew Hester (you never know which identity he plans to use today) according to an article on Journal-Advocate.com has been arrested and charged with two counts of identity theft, two counts of theft and criminal possesion of [...]
Bloomberg.com is reporting (as are countless other sites) that New Century Financial Corp. has filed for Chapter 11 bankruptcy protection today in Wilmington, Delaware. Some of it’s largest creditors include Morgan Stanley, Goldman Sachs, and Credit Suisse according to the article. They join a list few would like to be on: Ownit Mortgage Solutions Inc. [...]
To say this comes as a surprise, would be ignoring recent events in the industry as a whole. SouthStar Funding announced today that it has cease mortgage lending operations. The note posted on the company website reads: SouthStar Funding, LLC sincerely regrets that it was necessary to cease its mortgage lending operations. The recent unprecedented [...]
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