Thornburg Mortgage Inc., Santa Fe, N.M., has announced the completion of a collateralized mortgage debt transaction collateralized by $1.44 billion of its prime hybrid adjustable-rate mortgage loans.The proceeds of the transaction, Thornburg Mortgage Securities Trust 2007-4, were used to reduce the company's borrowings under its ARM loan warehouse lines by approximately $1.37 billion, Thornburg said. The company said it recently resumed funding loans in its pipeline and that the warehouse capacity created by the transaction will enable it to increase the pace of its mortgage funding. Thornburg said it expects to increase the use of collateralized mortgage debt financings and reduce its reliance on reverse repurchase financing. The company can be found online at http://www.thornburg.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.
8h 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.
11h ago -
While refinances are behind the latest increases, the pace of purchase activity may be a stronger indicator of where the housing market sits.
July 11 -
The share of economists expecting a September rate reduction grew in the July Wolters Kluwer survey, but the October or later percentage also increased.
July 11 -
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