Central Pacific Mortgage notified its employees it has shut down, according to a copy of a letter reviewed by MortgageDaily.com. The company ran out of capital, according to the letter. The chief executive of Central Pacific was previously the chairman of the Mortgage Bankers Association. (more…)
Two bits of news reported last week are worth a mention.
Fannie Mae announced on Tuesday that it would not bepaying over $44.4 million in bonuses to its former and current executives.The bonuses were part of an incentive program that was based on performancetargets such as earnings growth…
In other news there is new fall-out from a gloomy announcement theworld’s third largest bank made earlier this month…
In the wake of a tough couple of weeks that have rattled the sub-prime lending industry, Freddie Mac announced on Tuesday that it was cracking down on underwriting standards for those loans it purchases.
The mortgage giant announced that it will cease purchasing subprime mortgages that…
Home financing can be easy if you have the proper information…Residential properties are investments. Lenders provide the financing whether the case be the homeowner living in it or renting it out. Financing for these properties depend on the lender. The borrower then decides whether he can access the cheapest form that is made available to him. (more…)