The 67 area defendants, charged in a dozen different cases, are among more than 400 snagged across the country in Operation Malicious Mortgage, “a nationwide initiative against fraudulent home lending schemes,” according to a press release from the U.S. Attorney’s office.
Prosecutors allege that more than $170 million in fraudulently-obtained home mortgages were issued by various [...]
When I started originating loans more than 20 years ago, sellers were leery of an offer to buy their home that depended on a loan that allowed a down payment of just 5 percent. A loan with that low of a down payment down was rare and was not trusted as being dependable by sellers [...]
Birmingham, Ala.-based Southeastern Commercial Finance LLC said Friday it will acquire Tampa, Fla.-based Dominion Business Finance LLC.
Terms of the deal were not disclosed.
Patrick Trammell, president of Southeastern Commercial, said the acquisition allows the company to expand its geographic service area and product offerings. The independent commercial lending and bank consulting company will gain offices in [...]
First National Bank of Arizona has tapped an industry veteran to head the firm’s operations here and Nevada.
James R. Claffee, who has more than 30 years of banking experience, was named CEO, the company announced Monday. Claffee replaces Gary Dorris, who will remain on as a director and consultant.
Claffee’s appointment was effective June 4.
Claffee joined [...]
Total assets were relatively unchanged at approximately $232.2 million at March 31, 2008 compared to approximately $231.4 million at December 31, 2007 and decreased from approximately $242.8 million at March 31, 2007, a decrease of $10.6 million, or 4.4%.
Total serviced loan portfolio decreased to approximately $312.5 million at March 31, 2008 from approximately $326.4 million [...]
-Drew Industries Incorporated (NYSE: DW) reported today its operating results for the first quarter ended March 31, 2008.
Drew, a leading supplier of components for recreational vehicles (RV) and manufactured homes, reported net income of $9.1 million, or $0.41 per diluted share, for the 2008 first quarter, a 5 percent decrease from net income of $9.6 [...]
Burd Haward Architects has designed a ï¿¡1 million four-bedroom Lending Manufactured, granite-clad house for a family in Guernsey.
The building, to be located in the hamlet of Les Courtes Falaises, occupies a south-facing sloping site that leads to cliffs overlooking the English Channel.
Conceived as a “overscaled two-storey barnâ€, the house is defined by a steeply pitched [...]
Mortgage lending is contracting at an alarming rate as availability of funds remains tight and lenders continue to cherry-pick the safer risks, squeezing out the high loan-to-value (LTV) borrowers and first-time buyers.
Figures from the British Bankers’ Association illustrate just how badly the Bank of England’s rescue facility for mortgage lenders is needed. The total value [...]
The Board of Directors of the Federal Home Loan Bank of Seattle (Seattle Bank) has declared cash dividends on both classes of the Seattle Bank’s capital stock for the first quarter of 2008.
The Seattle Bank will pay $7.5 million or $0.35 per share on an average of 21.4 million shares of Class B stock outstanding [...]
“All the homebuilders are on fire; we are all just relentlessly stealing from each other.†– John Downs, VP of Human Resources at Toll Brothers, said on Sept. 8th, 2004. Downs said then that there was such a phenomenal need for construction workers and managers, Benchmark Lending and so few candidates, that the homebuilders [...]
