Argent Mortgage will be a "major associate sponsor" for two cars owned by Andretti Green Racing, including the one being driven by Danica Patrick.The move apparently ends Argent's relationship with Ms. Patrick's former team, Rahal Letterman Racing, where it had been the primary sponsor of her car and that of former Indianapolis 500 winner Buddy Rice. The other car of which Argent will be the major associate sponsor is driven by Marco Andretti (son of team co-owner Michael Andretti), who in his first-ever Indianapolis 500 last May finished a very close second to Sam Hornish. "Danica and Marco are two of the most talented young drivers in racing and two of the sport's most recognizable names," said Argent president Sam Marzouk. "Bringing them together under the Argent banner creates an unbeatable combination to highlight our brand." The new primary sponsor for Ms. Patrick is Motorola, according to the Andretti Green website.
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The Community Home Lenders of America and the Community Associations Institute want the FHA to insure loans on condos approved by Fannie Mae and Freddie Mac.
September 17 -
The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.
September 17 -
Most lenders said they had already priced in the widely-anticipated decision to cut short-term rates for 30-year home loans but other products will benefit.
September 17 -
The deal for the Class A office building owner will be funded from Rithm's cash as well as liquidity on the balance sheets, plus possible co-investors.
September 17 -
Mortgage applications saw a significant jump for the second consecutive week, as homeowners took advantage of plummeting rates, the MBA said.
September 17 -
The government-sponsored enterprise is making changes to mortgage-backed securities and servicing disclosure files to support use of the advanced credit score.
September 17