Residential Capital LLC, known as ResCap, a subsidiary of Ally Financial Inc. and the fifth largest mortgage originator and servicer in the country, filed for Chapter 11 protection along with 50 of its subsidiaries listing assets of $15.7 billion Only Bank of America, JPMorgan Chase, Wells Fargo Bank and CitiMortgage service more mortgage loans than ResCap, which services more than 2.4 million ..
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Mortgage Lender ResCap Files Ch.11; To Sell All Assets
Posted by mortgage 6 days ago (Editorial)
Mortgage Lender Residential Finance Corp. Explains Benefits of HARP 2.0
Posted by mortgage 6 days ago (Editorial)
When June Snow first looked into refinancing her interest-only mortgage, she was told it would be impossible because the value for her three-bedroom, two-bath ranch style home was not in the necessary range.
Fifth lender joins government mortgage scheme
Posted by mortgage 8 days ago (Editorial)
A fifth bank has joined the government?s mortgage indemnity programme for buyers of new-build homes.
GM interested in buying foreign operations of lender Ally Financial
Posted by mortgage 8 days ago (Editorial)
Ally Financial Inc.'s troubled mortgage unit Residential Capital LLC filed for Chapter 11 bankruptcy early today as the Detroit-based auto lender said it may sell its international businesses.
Former subprime lender ResCap files for Chapter 11
Posted by mortgage 8 days ago (Editorial)
Residential Capital L.L.C., which was a big subprime mortgage lender and still employs 1,385 in Fort Washington, filed for bankruptcy protection Monday in New York.
Former subprime lender ResCap files for Ch. 11
Posted by mortgage 8 days ago (Editorial)
Residential Capital L.L.C., which was a big subprime mortgage lender and still employs 1,385 in Fort Washington, filed for bankruptcy protection in New York on Monday.
Crockett acquires stake in mortgage lender
Posted by mortgage 11 days ago (Editorial)
San Angelo-based Crockett National Bank has acquired a controlling interest in San Antonio's Legacy Mutual Mortgage. Terms weren't disclosed. Legacy Mutual's operations will be run by Dan Diepenhorst, president and CEO, and Josh Sigman, vice president of sales. The firm previously was jointly owned by founder Bob Gardner; San Antonio lawyer Tom Robins; Jim Horan, former CFO; and Diepe
Mortgage lender Equitable shows why banks love housing boom
Posted by mortgage 12 days ago (Editorial)
Loan losses going down, profits going up
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