HomeBanc Mortgage, Atlanta, filed for chapter 11 bankruptcy protection Thursday, listing a slew of creditors, including foreign and U.S. banks.The publicly traded nondepository -- the nation's 52nd-largest residential funder -- listed debts of $4.9 billion. However, it claims assets of $5.1 billion. Its unsecured U.S. creditors include Bear Stearns, Fannie Mae, Freddie Mac, J.P. Morgan Chase, and KeyBank, among others. Its foreign creditors include Bank Hapoalim, BNP Paribas, Commerzbank Aktiengesellschaft, and Liquid Funding of Ireland. Some of these creditors had loan repurchase requests out with the lender. Last week HomeBanc agreed to sell assets belonging to five of its retail branches to Countrywide Home Loans.
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Five years after the Champlain Towers South collapse, while overall condo sales have held steady, the Miami market has had an 8 percentage point drop in share.
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Low immigration and fertility rates paired with aging boomers could weaken the foundation of housing demand over the next decade, the MBA finds.
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The notice of proposed rulemaking promotes manufactured housing loans backed by personal property while advising the rollback of requirements in other areas.
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The bipartisan legislation aimed at reducing barriers to new home construction, which included certain community bank riders, passed the lower chamber by a 358-32 vote.
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Tech companies may be the biggest winners of a custodial deposit provision tucked away in a much-touted bipartisan housing bill set to become law this week.
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Affected team members were offered severance, and some have received opportunities to remain with the company, a Pennymac spokesperson said.
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