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News about Mortgages:
PennyMac buys mortgage loans of First National Bank of Nevada from ... - Banking Business ReviewFirst National Bank of Nevada, Reno, Nevada, was closed by the Office of the Comptroller of the Currency in July 2008, and the Federal Deposit Insurance Corporation (FDIC) was named receiver. Stanford Kurland, chairman and CEO of PennyMac, said: "We ...
Report suggests government agency cuts - KRNVCARSON CITY, Nev. (AP) -- A conservative think tank is suggesting elimination of the Nevada Department of Business and Industry and numerous other cuts to save state funds and avoid tax increases by the 2009 Legislature. The plan from the Las Vegas ...
Investors buy $558 million in mortgages from FDIC - Associated PressWASHINGTON (AP) -- A group of private investors including former executives of Countrywide Financial Corp. has purchased $558 million in home mortgages from the government in a deal involving assets of the failed First National Bank of Nevada, the ...
PennyMac, Led by Ex-Countrywide Head, Sees Promise in Bad Loans - BloombergJan. 8 (Bloomberg) -- Stanford Kurland, the former Countrywide Financial Corp. president, says his new company’s purchase of $558 million in home loans issued by a failed Nevada bank will be a springboard for further growth. Private National ...
Gaming panel's new report offers glimpse of future - Reno GazetteWhether Nevada's gaming revenue picture can get any grimmer could be revealed as soon as week's end with the November report from the Gaming Control Board. October's report showed a remarkable 22.3 percent drop statewide in the "win," or gross gaming ...
YOUNG GOPERS: 'O,' THE PAIN! - New York PostThe Grand Old Party is over for New York's young Republicans, who spent last night crying in their vintage cognac as they mourned the end of the Bush era and quaked in fear over the prospect of an Obama presidency. "I have no idea what's to come ...
PennyMac, Led by Ex-Countrywide Head, Buys FDIC Loans (Update3) - BloombergJan. 7 (Bloomberg) -- Private National Mortgage Acceptance Company LLC , an investor in troubled mortgages run by a former president of Countrywide Financial Corp., bought $558 million of home loans that the Federal Deposit Insurance Corp. acquired ...
Experts each reveal 3 things needed to spark turnaround - Reno GazetteA year of recession has past, and a highly uncertain year awaits for Northern Nevada and the nation. Just what 2009 will bring to the table of commerce remains to be seen. But in some corners, observers remain hopeful. "An economic turnaround could ...
Making moves sometimes a leap of faith - Marion StarI move this week from the Editorial Page to the Community Page. This is where I should have been all along. People didn't seem to get me on the Editorial Page. Maybe it was the seriousness of everything else on the page. There were well thought out ...
Consultants helping banks assess, manage foreclosed properties - MSNBCReeling from soured loans originated during the peak of the housing market, regional and national banks are turning to asset consultants to salvage thousands of reclaimed properties throughout the Valley. They hope to turn them into profitable ...
Today's Mortgage Terms starting with J
Jumbo Loan: A mortgage over the $300,700 limit established by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation. A jumbo mortgage tend to carry a higher interest rate than a conventional mortgage.
Junior Mortgage: A mortgage subordinate to the claim of a prior lien or mortgage. In the case of a foreclosure, a senior mortgage or lien will be paid down first.
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