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  • Freedom Mortgage to acquire RoundPoint Mortgage Servicing

    Freedom Mortgage and RoundPoint Mortgage Servicing are planning to merge, the companies announced Friday. The deal will make RoundPoint a wholly owned subsidiary of Freedom and boost its servicing portfolio to more than $300 billion. Click the headline to read more.

Items Tagged with 'Economy of the United Kingdom'

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  • UK to Regulate 'Sale and Rent Back' Schemes

    The UK Parliament is considering legislation to bring so-called 'sale and rent back' agreements within the scope of the Financial Services Authority (FSA) regulation. These deals occur when a firm approaches an underwater borrower and offers to purchase the distressed asset. In return the resident gets to rent the property for an extended period, with the option to repurchase in the future.
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  • RBS Writes Down $11.4 Billion, As U.S. Mortgages Bite

    Conservative estimates certainly came in handy for Royal Bank of Scotland's [stock RBS][/stock] CEO Sir Fred Goodwin on Friday, with the bank reporting a whopping 5.9 billion pounds ($11.4 billion) in credit market write downs; the bank's six-month loss of 802 million pounds ($1.5 billion) was well off earnings of 3.6 billion pounds ($6.9 billion) one year ago, and was the first in its history.
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  • Across the pond, they're raising money too

    MarketWatch covers the trials and trevails of HBOS, the UK's largest mortgage lender: HBOS ... said Tuesday that it plans to raise 4 billion pounds ($7.95 billion) through the sale of stock to existing shareholders as it battles against rising write-downs and tighter lending margins.
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