Category: Industry Stuff

Citing a “dramatic reduction in Jumbo volume levels,” “lack of Capital Markets appetite for Jumbo products,” and “worse than expected delinquency performance on these loans,” Chase is suspending “Non-Agency Fixed…

Additional details from J.K. Dineen on what’s driving the sale of the seven proposed Renzo Piano parcels (not to mention a few other properties): California Mortgage and Realty President David…

According to a plugged-in tipster, Financial Title received a cease and desist order courtesy of the Insurance Commissioner a few hours ago. And while escrows were to be transferred to…

“From mixed-use developers like A.F. Evans to home-builders like Lennar to investment management firms like MacFarlane Partners, real estate firms active in the Bay Area have been cutting middle and…

First IndyMac, and now Fannie Mae and Freddie Mac, it’s been a mad week of bailing and pre-bailing backstopping for the Federal government. And what normally would have been an…

As another plugged-in reader noted yesterday, IndyMac – second only to Countrywide in terms of indypendent U.S. mortgage lenders last year – has effectively stopped originating new home loans citing…

As Countrywide’s shareholder’s approved Bank of America’s takeover offer, California and Illinois filed suit against the mortgage lender for “luring borrowers into risky loans they couldn’t afford.” Countrywide and Chief…

“Three months after Fannie Mae and Freddie Mac won the freedom to step up home-loan purchases, the government-chartered mortgage-finance companies are doing what critics in the Federal Reserve and Congress…

While “Operation Malicious Mortgage” has nabbed over 400 individuals over the past three months, none of the mortgage-fraud related arrests have occured in the Bay Area. Then again, it has…

Despite what some might sell, TICs financed with fractional (or “individual”) loans are not substantively the same as condominiums. While fractional financing does mitigate a large portion of the commingled…