Saxon Capital Inc., a residential mortgage lending and servicing real estate investment trust based in Glen Allen, Va., has announced the pricing of a private offering of $150 million of senior notes due in 2014.The notes will bear interest at a fixed rate of 12%. The net proceeds will be used chiefly to acquire additional third-party mortgage servicing rights and whole loans in bulk, Saxon said. The REIT can be found online at http://www.saxonmortgage.com.
The package of banking measures will need 60 votes — including a number of Democrats — to pass the Senate on a tight time frame ahead of November's elections. But the bipartisan House vote signals that future work on the issues is possible.
The Federal Reserve is rethinking the size and scope of its holdings. Academics and industry analysts alike say liquidity reforms will be key to the process.
The brokerage boss settled litigation with ex-business partner Mat Grella which involved private aviation, luxury cars and a separate six-figure judgment.
The median down payment for a potential Gen Z homebuyer is well below the amount the three older generations are looking to make, a LendingTree study found.
Lenders are still sending files to their secondary market partners with missing or misplaced documents, affecting how the collateral is viewed and priced.
Almost one third of borrowers in the pool, 26.3%, are self-employed, with a non-zero weighted average (WA) average income of $832,522, and $666,211 in liquid reserves.
