Items Tagged with 'Lone Star'

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  • Lone Star Funds shakeup: North America president Sam Loughlin steps down

    Will be replaced by Nick Beevers, who served as executive vice president
    Lone Star Funds, which buys non-performing mortgages by the truckload from Fannie Mae and Freddie Mac and is the parent company of Caliber Home Loans, announced this week that Sam Loughlin, the company’s president of the North America region, is stepping down. Loughlin will be replaced by Nick Beevers, who previously served as executive vice president and chief of staff to Lone Star’s global president, André Collin.
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  • NYDFS reportedly looking into Caliber Home Loans

    Inquiry seeks information on handling of delinquent mortgages
    The New York Department of Financial Services is reportedly looking into how Caliber Home Loans handles distressed mortgages and the lender’s origination practices for borrowers with less-than-perfect credit profiles.
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  • Freddie Mac sells off $1.1 billion in Ocwen-serviced mortgages

    Deeply delinquent non-performing loans sold to multiple buyers
    Good news for the winners of Freddie Mac's latest sale. The enterprise announced Wednesday that it selected the winning bidders in the sale of more than $1 billion in non-performing loans that are currently being serviced by Ocwen Loan Servicing. And apparently one of the winning bidders is a frequent buyer of GSE non-performing loans.
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  • Lone Star invests $1 billion in high-risk Caliber loans

    New loans will target Alt-A and "high quality" subprime borrowers
    According to a report from Bloomberg Businessweek, after about $200 million worth of loans have been made, the debt will be packaged into bonds and sold, with the new fund, Lone Star Residential Mortgage Fund I, retaining the riskiest pieces, according to the materials. The company expects to provide investors gross returns of 15% after three years.
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  • Shake-Up at Accredited in Wake of Bear Res Acquisition

    Lone Star Funds is shaking things up in its mortgage business after its acquisition of Bear Stearns Residential Mortgage Corporation late last week; Friday, the private equity group announced that Accredited Home Lenders, Inc. CEO Jim Moran had stepped down and would be replaced by former Bear Res CEO Jeff Walton. Moran had served as interim CEO since February of this year.
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