Hanover Capital Mortgage Holdings, Edison, New Jersey, has sold assets associated with its due diligence business to Terwin Acquisition, which does business as The Winter Group.The sale, which includes the assumption of certain liabilities, is expected to generate $4.7 million for Hanover after the collection of receivables retained by the company. Hanover, a real estate investment trust that invests in mortgage assets, said it plans to reinvest the proceeds in its portfolio. Tom Guba, president of The Winter Group, said his company plans to maintain Hanover's due diligence client relationships. "When combined with our existing due diligence operation in Denver and our IT capabilities, this transaction makes us a significant provider of outsourced solutions to the mortgage industry," he said. Winter maintains a capital markets residential sourcing, securitization, trading, and distribution platform. The company also has mortgage servicing and asset management capabilities. Hanover can be found online at http://www.hanovercapitalholdings.com.
-
Ohio-based Liberty Home Mortgage joins several companies who started using a more modernized FICO credit score for nonconforming mortgage originations recently.
10h ago -
The CFPB has dissolved the Office of Supervision, Enforcement and Fair Lending and eliminated the job of associate director in a move that impacts how it designates nonbanks for supervision.
11h ago -
The plan that the Federal Housing Finance Agency floated calls for Freddie Mac to actively invest in some new closed-end seconds as cash-out refinancing subsides.
April 17 -
The push comes amid what one expert highlighted as lax funding efforts for two Department of Housing and Urban Development grant programs.
April 17 -
Conventional lending drove volumes higher, particularly in the purchase market, the Mortgage Bankers Association said.
April 17 -
Net charge-offs at the Charlotte, North Carolina-based bank increased by more than 80% in the first quarter compared with a year earlier. BofA executives say that the rising losses were in line with the bank's risk appetite.
April 16