Items Tagged with 'Goldman Sachs'

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New York to provide $100 million in zero-interest loans to prevent foreclosures

Using Goldman Sachs fine to fund expansion of Mortgage Assistance Program
Homeowners in the state of New York who are struggling to keep their homes from falling into foreclosure are about to get a lifeline – $100 million in zero-interest loans from the state of New York. It's all thanks to Goldman Sachs and its $5 billion toxic mortgage settlement.
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GE Capital mere days from 'exiting' U.S. banking system

Sells online deposit platform to Goldman Sachs
GE Capital, once a big player in housing finance, is now just a handful of days away from exiting the U.S. banking system after the company completed the sale of its online deposit platform to Goldman Sachs. According to GE Capital, that sale positions the company to terminate its FDIC insurance and "extinguish" its final U.S. bank charter.
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Five major banks fail bailout test, would need taxpayer money in crisis

Bank of America, JPMorgan Chase, Wells Fargo, others must improve 'living wills'
Five of the nation’s largest banks are not prepared for a financial crisis and would need taxpayer bailouts, the Board of Governors of the Federal Reserve System and the Board of Directors of the Federal Deposit Insurance Corporation announced Wednesday.
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Why you should think twice before jumping into the mortgage industry

There’s $9 billion of potential disruption
The word innovation is used a lot in today's mortgage market, but while any one can use a fancy word to describe their business, only a few can actually execute. And four of those businesses were all in New York City at Goldman Sachs' one-day Housing Finance conference on Wednesday. And just as Quicken Loans, SoFi, loanDepot and Better Mortgage are disruptors in the industry, they were disruptors in the room.
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What is the competitive advantage for non-QM lending?

Find the need, fill the need
The introduction of the Qualified Mortgage rule in January 2014 brought about the concept of non-QM lending, loans that do not meet agency requirements. Within the first year of the rule taking effect, lenders started to come out saying that they would originate non-QM loans. This is why that idea is a company positive.
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Financial purge: Big bank stocks plunge

Dramatic crash in oil prices to blame
The DOW is not looking good as financial names took a big hit Thursday. Reeling off a 400-point loss, oil prices dropped below $27 a barrel for the second time in recent weeks. It settled at $26.21, the lowest point since 2003.
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