Residential Capital LLC, the Minneapolis-based holding company for GMAC's residential lending affiliates, has again extended the early tender time for its previously announced cash tender offer for up to $750 million in aggregate principal amount of debt securities.ResCap said the new early tender time is midnight Eastern time on Dec. 19 (unless further extended by ResCap), the same as the expiration time of the tender offer. ResCap can be found on the Web at http://www.rescapholdings.com.
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Retail lender Rate separately launched yet another non-mortgage brand, with outdoor saunas and other furnishings following a high-end performance wear line.
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June purchase demand strengthened, refinances remained steady and pull-through improved, reversing May losses.
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The move is designed to align the two Utah-based businesses under a single unique name and comes two years after the bank acquired the home lender in 2024.
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Federal Reserve Bank of Dallas President Lorie Logan said at an event Thursday that conducting monetary policy actions through a third party would improve efficiency and make markets stronger.
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The Rithm subsidiary plans to reduce its involvement in decentralized operations through an agreement with the American Pacific Mortgage affiliate.
July 9 -
A week after falling to its lowest point since mid-May, the 30-year fixed rate mortgage turned higher as the 10-year Treasury rose 15 basis points since June.
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