Blackstone Group(BX) last year insured Citigroup(C) against any initial losses on a $1.2 billion pool of shipping loans, said two people with knowledge of the transaction, who asked not to be identified because the matter is private.
Articles written by HousingWire Staff are non-bylined, and typically involve press release coverage and aggregation of coverage appearing elsewhere. So who put all these together? Our entire staff does!
Sometimes offshoring sounds like a bad word. In reality, offshore mortgage servicing simply means using remote staff, usually to take advantage of lower labor and overhead costs and round-the-clock staffing availability. But legitimate questions remain. In the midst of increasing compliance pressures, is offshoring a sound strategy for mortgage servicers looking to stay competitive, or a fast track to dissatisfied customers and trouble with the CFPB?
Houses that have been rehabbed in the recovery project are now being sold as quickly as they are completed, and the profit on each house goes right into rehabbing the next one. In the past two years, the company has rehabbed and sold 58 homes, and has plans to do 200 more.
The fate of the Fannie and Freddie investors is not our concern. We are concerned about what happens to communities. And what is happening right now is that the future ability of working class families to obtain responsible home loans is in serious jeopardy.