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ResCap bankruptcy puts pressure on NY borrowersThe Real Deal New York (blog)Of ResCap's 2.4 million consumer mortgages, 120000 are in New York and those attempting to alter their loans now must do so in court. “Ally's goal is to get out of the mortgage business and wash their hands of it,” Guy Cecala, Inside Mortgage Finance ...and more » |
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Investor Caution: Beware of Heat in Distressed HousingCNBC.comIn fact, most homes sold in April received just two or three offers and sold for below list price, according to a new survey from Campbell/Inside Mortgage Finance. “The average price for non-distressed properties declined 1.5 percent from March to ...and more » |
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Bank's no Ally for NY homeownersNew York PostInside Mortgage Finance publisher Guy Cecala estimates the bankruptcy affects roughly 120000 loans in New York, out of 2.4 million ResCap consumer mortgages. Unemployment caused the Westchester family to miss mortgage payments and seek Chapter 13 ...and more » |
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Regulator Laments Role of Largest Mortgage LendersWall Street Journal (blog)had a 54% share of new mortgage loans in the first quarter of this year, according to Inside Mortgage Finance, a trade publication. By comparison, the top four lenders making loans in 2006 had a 42% market share. The increase was driven by the growth ...and more » |
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Former subprime lender ResCap files for Ch. 11Philadelphia InquirerCombining operations "is never as simple as two and two equals four," said Guy Cecala, of Inside Mortgage Finance, a trade publication in Bethesda, Md. Cecala said Nationstar was building a full-fledged mortgage operation that would service existing ...and more » |
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Ally aims to end mortgage woes with ResCap filingReutersBy Rick Rothacker and Paritosh Bansal (Reuters) - Ally Financial Inc's mortgage unit filed for bankruptcy protection on Monday, and the former in-house financing arm for General Motors Co also said it will sell some international operations to help set ...and more » |
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Ally hopes to end mortgage woes with ResCap bankruptcyCNBC.comNEW YORK (Reuters) - Ally Financial Inc's mortgage unit on Monday filed for bankruptcy and the auto lender said it will sell some international operations to help set it on a path to repaying $12 billion in bailout money. Ally's mortgage unit, called ...and more » |
December 4, 2008
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