Loans digger

Lehman Brothers Holdings Inc. said it raised about $3 billion for a new fund that will buy leveraged buyout loans at a discount from lenders.
Lehman Brothers Opportunity Fund L.P. will make “opportunistic investments,” primarily in first-lien secured positions in leveraged buyouts in the U.S. and, to a lesser extent, in Europe, the company said in […]

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If there’s one thing we know about the mortgage crisis, it’s that it keeps turning policymakers and bankers into liars.
In June, Treasury Secretary Henry M. Paulson Jr. said mortgage problems “will not affect the economy overall.” Merrill Lynch boss E. Stanley O’Neal said the mortgage mess was “reasonably well contained” the same month.
Paulson’s now trying […]

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Hard money loans are among the most popular d widely taken loan products in the market today. It is an irony that the loan type is called ‘hard’ but the application and process of securing the loans are made ‘very easy’. For many borrowers, hard money loan providers ring the bell. That is because such […]

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The U.S. Small Business Administration has approved more than $6 million in disaster loans to homeowners, renters and business owners in Wisconsin who were affected by
the severe storms and flooding that occurred Aug. 18-31.
“Currently, 234 disaster loans have been approved in the amount of $6,148,500 for victims,” said Frank Skaggs, director of SBA […]

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The number of new home loans approved by banks last month was more than a quarter down on a year earlier as higher interest rates, the squeeze on incomes and the impact of the credit crunch hit the housing market.
Data from the British Bankers’ Association released yesterday showed that mortgage approvals in September stood at […]

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Bank of America Corp., the second-biggest US bank, plans to stop making loans to mortgage brokers by year-end, a move that will cut 700 jobs, the bank said yesterday.
The exit from “wholesale” mortgage lending is part of the 3,000 job cuts disclosed Wednesday after Bank of America reported a 32 percent decline in third-quarter income […]

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The state will leverage $500,000 to guarantee up to $7 million in loans to farms and small businesses that suffered damage or significant economic loss in the wildfires, Gov. Arnold Schwarzenegger said yesterday.
The Small Business Disaster Assistance Loan Guarantee Program, implemented in the aftermath of the 1989 Loma Prieta quake, is designed to help businesses […]

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The cost of personal loans has increased sharply following interest rate rises with many customers now being denied standard advertised rates.
Banks and building societies have been using “personal pricing” with higher-risk customers paying more interest.
A survey of lenders and their rates, by consumer website USwitch.com, found loan rates have increased by 12 times the rise […]

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Massachusetts will impose some of the nation’s most stringent regulations on the mortgage industry in an effort to curb practices that have led to record numbers of foreclosures.
Regulations finalized yesterday by Attorney General Martha Coakley require lenders and brokers to treat all borrowers fairly, with the aim of eliminating excessive fees and sales of loans […]

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Countrywide Financial Corp (CFC.N: Quote, Profile , Research) said on Thursday it funded 44 percent fewer mortgage loans in September as it tightened lending standards, while delinquencies increased and foreclosures more than doubled.
The largest U.S. mortgage lender also said it eliminated 4,935 jobs last month, leaving it with 55,932. It has said it plans to […]

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