Miami's AIBC International Mortgage and Lehman Brothers on Monday launched iemortgage.com, which they said is the first online mortgage lending service dedicated to foreign nationals buying or refinancing properties in the United States. iemortgage.com plans to securitize the mortgages and place them in the capital markets, allowing foreign clients to obtain rates and financing programs that were previously difficult to access. iemortgage.com will provide online services directly to clients, or through a network of financial institutions, including First Union Mortgage, Terrabank, AmTrade International Bank and Hemisphere National Bank. The company said it expects its largest client base to come from Canada, Latin America, the United Kingdom and Japan.
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Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
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There are two series, 2024-1 and 2024-2, that have revolving periods—three for the 2024-1 and five for the 2024-2—during which noteholders will not receive any principal.
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The trust employs a 24-month revolving period. There is an increased risk that collateral quality could deteriorate as the transaction evolves with new collateral.
March 27 -
Harmonizing standards for liquidity coverage ratios and discount window pledges could prevent the type of strains that led to last year's bank failures, according to a new paper whose authors include former Federal Reserve Govs. Dan Tarullo and Jeremy Stein.
March 27 - Yahoo Finance Feed
The banking giant has launched an online platform that links small-business owners and entrepreneurs in need of capital to community development financial institutions. The platform was developed in partnership with Community Reinvestment Fund USA.
March 27 -
Audited financials, proof of fidelity bonds and errors and omissions insurance must be provided on Ginnie Mae Central after May 13.
March 27