CoreStar Financial Group, Timonium, Md., has announced a $4 million investment in the company by Edison Venture Fund that CoreStar says will be used to expand its marketing and sales programs.The company, which specializes in consumer debt consolidation through mortgage refinance transactions, said it expects the marketing and sales expansion to enable it to "more than double" its production within a year. Bruce Luehrs, a general partner at Edison, said the experience of CoreStar's executives in the mortgage industry from both a consumer and a market perspective "set this company apart." Mr. Luehrs and Ross Longfield, a former chief executive officer of Beneficial National Bank USA, have joined CoreStar's board of directors, the company reported. WWC Capital Group, Reston, Va., was the exclusive placement agent for CoreStar in connection with the transaction. The companies can be found on the Web at http://www.corestar.com and http://www.edisonventure.com.
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A federal judge in Texas dismissed the Consumer Financial Protection Bureau's medical debt rule and prohibited states from passing their own laws prohibiting medical debt on credit reports.
6h ago -
Dr. Mark Calabria takes on the additional role of chief statistician of the United States; retired Ally Bank executive Diane Morais has joined First Citizens Bancshares' board of directors; MainStreet Bank has promoted Alex Vari to chief financial officer; and more in this week's banking news roundup.
9h ago -
While refinances are behind the latest increases, the pace of purchase activity may be a stronger indicator of where the housing market sits.
11h ago -
The share of economists expecting a September rate reduction grew in the July Wolters Kluwer survey, but the October or later percentage also increased.
11h ago -
Rising home prices and softening sales offer a mixed view of a market that some say is shifting to favor buyers.
July 11 -
The notes are backed by home improvement installment loans originated by approved dealers in Foundation Finance Company's network.
July 11