Cadle Co. of Ohio has agreed to sell a $285 million portfolio of nonperforming second liens to Heritage Funding, Dallas, for less than one penny on the dollar. The sale was brokered by Jaymes Financial, Springfield, Va. The second liens included both secured and unsecured credits. The Cadle Co. is owned by Daniel C. Cadle. According to its website, it has been around since the late 1980s, collecting on various types of debts. No information was readily available on Heritage.
Foreclosure prevention actions supported homeowners, with loan modifications being the majority.
A consumer was moving to certify a class of thousands of borrowers who paid the telephone mortgage payment fees to a subsidiary the servicer acquired.
AnnieMac CEO Joe Panebianco has navigated a broad range of risks, from cash buyer competition to shifts in the market's loan product mix, with a unique leadership style.
JPMorganChase and Bank of America raised concerns about the proposed removal of risk-weighted assets from the denominator of the short-term wholesale funding component of the GSIB surcharge — changes backed by Goldman Sachs and Morgan Stanley.
House Speaker Mike Johnson, R-La., reportedly plans to send the recently passed housing bill to the White House on Monday, starting a 10-day clock for the president to sign the bill.
The national delinquency rate rose 15 basis points to 3.5% last month due to a calendar anomaly, marking a 4.5% month-over-month incline and 9.4% annual change.
