A top lawmaker on Capitol Hill is calling for the elimination of mortgage finance companies Fannie Mae and Freddie Mac and the establishment of a new system to provide money for U.S. home loans.
Rep. Barney Frank, D-Mass., the chairman of the House Financial Services Committee, said Friday he supports replacing the two companies entirely.
“I believe [...]
Posts Tagged ‘mortgage’
Rep. Frank: Abolish Fannie Mae, Freddie Mac
January 26th, 2010 by HardMoney Writer
Tags: bankruptcy, mortgage, obama, tax credit
more...Hard Money NYC Closes a $160,000 Bridge Loan in Just 4 Days
December 15th, 2009 by HardMoney Writer
Hard Money NYC, a private money lender specializing in commercial real estate financing, announced that it has closed a short term loan on a mixed use property in Bronx, New York in just 4 days.
The borrower had felt the effects of the bad economy all year round, and was in need of some capital to [...]
Tags: borrower, collateral, commercial real estate financing, hard money, loan, mortgage, private money lender
Investors can now get results, scores on hard money lenders
December 11th, 2009 by HardMoney Writer
Thanks to a new state law, investors have the right to get scores and the examination results for hard money lenders operating in Nevada.
Hard money lenders, sometimes called private lenders, solicit money from individual investors and use the money to make short-term loans to developers and others who provide real estate as collateral.
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Tags: All Western Mortgage, foreclose, Goldwater Capital Nevada, hard money, hard money lenders, Integrated Financial Associates Inc, investors, lenders, loan, money, mortgage, Nevada Mortgage Lending Division, real estate
Aspen Lake Capital Launches REO and Asset Acquisition Service
December 8th, 2009 by HardMoney Writer
Aspen Lake Capital, a well-funded real estate solutions provider specialized in the secondary mortgage market, today announced the launch of its REO and asset acquisition services. The company supports investment and commercial banks, hard money and warehouse lenders, individual investors, regional and community banks by acquiring non-performing residential and/or commercial mortgages and REOs in pools.
For [...]
Tags: aspen lake capìtal, borrowers, commercial banks, global economic crisis, hard money, individuals investors, mortgage, real estate, REO properties, warehouse lendesr
Behind a failed mortgage company
November 23rd, 2009 by HardMoney Writer
For years, Richard MacDonald’s investments with Financial Resources Mortgage in Meredith seemed like a sure thing. His deposits, which totaled more than $1 million, helped finance building projects across Northern New England. Interest checks arrived in the mail every month. And MacDonald felt secure knowing the construction sites were within an hour or two of [...]
Tags: bankrupty, bridge loans, broker deals, financial crisis, Financial Resources Mortgage, hard money, hard money lender, investments, investors, mortgage, private investors, real estate
Nine U.S. Banks Seized access Largest One-Day contents
October 31st, 2009 by HardMoney Writer
U.S. authorities seized nine failed banks on Friday, the most in a single day since the financial crisis began and the latest stark sign that substantial parts of the nation’s banking industry are being crippled by bad loans.
The move brought the total number of failed banks in 2009 to 115 — their highest annual level [...]
Tags: borrowers, Colonial BancGroup, commercial real estate loans, Fannie Mae, FBOP Corp, Federal Deposit Insurance Corp, foreclosed, Freddie Mac, investments, lenders, loans, mortgage, U.S. Bancorp
Miami Condos: Buying At A Discount
October 13th, 2009 by HardMoney Writer
Everybody likes to side with marked at a treasure trove charge. Regardless if actual is other leash of shoes, a supplementary vehicle, or exact a other Miami condo, everybody wants a ig. Normally, preconstruction investing incubus frustrate people for present is nearly bizarre to settle a disdain or complete moment because a preconstruction pigsty; especially [...]
Tags: hard money, investors, mortgage, news
‘Hard money’ lenders: The inception whereas last-resort loans
October 5th, 2009 by HardMoney Writer
Would you procure to a borrower guidance foreclosure?
Or someone looking to buy a sky-scraping ranch whose standing couldn’t accurately mean firm not tell a familiar investigation?
How about refinancing someone’s mortgage then the partner fault move over hundreds of thousands of dollars supremacy cash?For “hard money” lenders, it’s thorough magnetism a day’s functioning. These private nation [...]
Tags: borrower, broker, foreclosure, hard money, hard money news, lenders, mortgage, private investors, private loans, private money, subprime lenders