Search for: "Fremont Investment & Loan"
Results 1 - 20 of 34
Sorted by Relevance | Sort by Date
8 Mar, 2007 8:33 am
On March 8, 2007 the Federal Deposit Insurance Corporation (FDIC) issued a cease and desist order against Fremont Investment & Loan, Brea, California ("Bank"), and its parent corporations, Fremont General Corporation and ... adopt a subprime mortgage lending policy with provisions designed to correct its lending practices, including that it
underwrite future subprime loans with an analysis of the borrower's ability to repay at the fully indexed rate and provide borrowers with clear information ...
15 Dec, 2008 6:25 pm
... unanimously upholding the lower court's order in the case of Commonwealth v. Fremont Investment
& Loan & another, 452 Mass. 733 (2008)(Botsford, J.) ... Investment & Loan from foreclosing on any "structurally unfair" loan without further prior court approval and a final hearing on
the merits. The lower court's ruling ... nation that restricts a subprime lender's ability to foreclose based on unfair or deceptive loan
origination misconduct. Date of opinion: December 9, 2008. Full opinion click ...
13 Dec, 2008 4:00 pm
... for direct appellate review. James R. Carroll (Peter Simshauser & Christian R. Jenner with him) for Fremont Investment & Loan. Christopher K. Barry-Smith, Assistant Attorney General, (John M. Stephan, Assistant ... a
modification of the injunction to require that any assignment, sale, or transfer of ownership rights or servicing obligations by Fremont be
conditioned on the assignee's or purchaser's acceptance of the obligations imposed by the preliminary injunction. The judge granted this ...
1 Apr, 2008 7:31 am
A Massachusetts Superior Court recently ruled that embattled lender Fremont Investment &
Loan ("Fremont") must obtain written consent from the Massachusetts Attorney General's office before
foreclosing on loans in the ... each of the four characteristics listed above), or is not the borrower's principal dwelling, or is vacant or uninhabitable. If, however, the
loan possesses each of the four characteristics described above, is secured by the borrower's principal dwelling and is not vacant or ...
13 Dec, 2008 5:50 pm
... to read, so I have cut and pasted the whole opinion here.) (Fremont Investment &
Loan was a high flyer that went down in flames last year when its parent, ... is calculated exceeds 50% of their monthly income. 4. It was a
"no down payment" loan. The amount of the home purchase financed was 100%. So what does this mean? Well, if you don't live in Massachusetts or
have a loan with Fremont Investment, technically it means
nothing. Opinions of the Massachusetts Supreme Judicial Court are not binding ...
27 Feb, 2008 9:30 am
... White Massachusetts Attorney General Martha Coakley persuaded a judge to order a 90-day statewide halt to foreclosures by Fremont
Investment and Loan, so that Fremont could work out some of
the defaults with borrowers. The press release includes a link to the ... that we should ignore their tragic consequences and fail now to recognize their unfairness." The order requires
Fremont to notify the AG before foreclosing, and allows the court to review foreclosures on a case-by-case basis to determine ...
18 Jul, 2007 9:00 am
... Holdings, which is one of the country's largest sub-prime lenders. Sub-prime loans attract high-risk borrowers with questionable credit history. Those who get these
loans ... rates than other borrowers. But the lawsuit maintains that black homeowners who got these loans in 2004 were 30 percent more likely to get slapped with higher
interest rates than ... ;R Block subsidiary Option One Mortgage Corp.; General Electric-owned WMC Mortgage Corp.; and Fremont General Corp.'s
Fremont Investment & Loan.
4 May 7:25 am
... other subprime lenders, including Ameriquest, Option One Mortgage and Fremont Investment &
Loan, all based in Orange County. The lawsuits grow out federal ... attorneys, we are disappointed, but not surprised, that race continues to
affect how home loans are made. Since the foreclosure crisis began, many consumer advocates have criticized ... trusted these name-brand lenders to offer them a reasonable deal.
Subprime loans offered on the basis of race are not exactly mortgage fraud -- but they violate ...
7 Apr 5:53 am
... 4607 Fifth/Third Bank 800-375-1745 (option 3) Loss Mitigation First Franklin (Home Loan Services/NationPoint) 800 622 5035 (Loss
mitigation) First Horizon Home Loans - Loss Mitigation ... Mortgage - 800 396 6184 Flagstar Bank 800 968 7700 ext 9780 Fremont
Investment & Loan 866 484 2901 GMAC Mortgage (800) 850-4622 GMAC ResCAp (GMAC ... 888-218-1988
Web: http://www.irwinmortgage.com JP Morgan Chase 800-446-8939 Litton Loan Servicing (800) 247-9727 - default counseling (800) 999-8501 Phone
1: 800-548 ...
11 Oct, 2007 7:23 am
... in their respective states. Those public pension funds allegedly lost money after investing in bond funds managed by State Street. Those losses also involved ... and Idaho
are considering whether the information their pension funds were given about the investment strategies for the two bond funds was accurate.
Alaska and Idaho are not alone in ... filed a lawsuit against one of the nation's largest subprime lenders, Fremont Investment and Loan (see here). The Ohio Attorney General has also reportedly ...
18 Apr, 2007 4:56 am
A well-known Greenwich hedge fund is getting into the subprime mortgage business in a big way. The New York Post reports that Ellington Capital Management is in the process of
finalizing an agreement with Fremont General to buy $2.9 billion worth of loans and the distressed lender's real estate business,
including its mortgage bond investments [...]
5 Apr 1:26 pm
... and evictions. In February 2008, the Massachusetts Attorney General obtained a preliminary injunction enjoining Fremont General and
Fremont Investment and Loan, California-based subprime
lenders that originated thousands of loans in Massachusetts, ... that New Century's reserve to account for expenses and losses that may be incurred due to the potential
repurchase of loans by third-parties in the event of payment defaults by borrowers was understated by "tens of millions of dollars" and "in effect ...
15 Dec, 2008 7:11 pm
... opinion on December 9, 2008 unanimously upholding the lower court's order in the case of Commonwealth v. Fremont Investment & Loan & another, 452 Mass. 733 (2008)(Botsford, J.) preliminarily enjoining subprime mortgage
lender ... impossible for subprime borrowers to refinance unless housing prices increased..." The court's preliminary injunction required Fremont to work with the Attorney General to "resolve" their differences regarding foreclosure, presumably through a loan workout. Most of ...
19 May 12:59 pm
... help them understand and take advantage of the offers or to "develop other loss mitigation alternatives." It is reported that settlements with other investment bankers in Massachusetts may be to come. It is also speculated that Attorneys Generals of other States will follow suit in a ... )The Ohio Court's
rejection of the "public nuisance" claim is reported to have "far-reaching ramifications." Fremont Investment & Loan Action The AG's press release referred to her office's previous suit against ...
9 Dec, 2008 3:16 pm
... by the Massachusetts Attorney General and issued by a Superior Court judge preventing a subprime lender, Fremont Investment & Loan Co., from proceeding to foreclose on property subject to its mortgages, without first
negotiating with the owners, ... to demonstrate a G.L. c. 93A violation, the judge nonetheless found no evidence in the record that Fremont
encouraged or condoned misrepresentation of borrowers' incomes or deceived borrowers by concealing or misrepresenting the terms of its loans. ...
9 Dec, 2008 3:16 pm
... by the Massachusetts Attorney General and issued by a Superior Court judge preventing a subprime lender, Fremont Investment & Loan Co., from proceeding to foreclose on property subject to its mortgages, without first
negotiating with the owners, ... to demonstrate a G.L. c. 93A violation, the judge nonetheless found no evidence in the record that Fremont
encouraged or condoned misrepresentation of borrowers' incomes or deceived borrowers by concealing or misrepresenting the terms of its loans. ...
9 Oct, 2007 8:57 am
... her office has filed a lawsuit against one of the nation's largest subprime lenders, Fremont Investment and Loan ("Fremont"). The suit accuses Fremont of predatory lending practices under Massachusetts' 2004 Predatory Home Practices Act. The ... of selling loans using various "predatory"
practices, even when it allegedly knew that homeowners would not be able to repay the loans. Among the alleged practices was the use of Adjustable Rate Mortgages (ARM) whereby
the homeowner would receive a low fixed ...
7 Mar 5:27 pm
... Downey Financial Corp. (which operated as the holding company for Downey Savings and Loan Association, F.A., until November 21, 2008, when
federal regulators seized the bank due ... General Credit Corporation, owned the California bank Fremont Investment & Loan), and Rancho Cucamonga-based PFF Bancorp, Inc., the parent company of PFF Bank ... seized by
federal regulators on November 21, 2008, together with Downey Savings and Loan Association, F.A. - No. 4 on the Top 10 List - after posting
losses ...
19 Oct, 2008 9:13 pm
... originators in 2006 were: HSBC Finance, New Century Financial, Countrywide Financial, Citimortgage, WMC Mortgage, Fremont Investment and Loan, Ameriquest, Option One, Wells Fargo Home Mortgage and First Franklin Financial. Seven of the
... of subprime mortgage-backed securities, accounting for about 75% of the market, in 2006 were: Countrywide, New Century, Option One, Fremont, Washington Mutual, First Franklin, Residential Funding (GMAC affiliate), Lehman Brothers, WMC, Ameriquest, Morgan Stanley, ...
11 Dec, 2008 3:01 am
... as one of the finest state courts in the country, upheld a preliminary injunction against Fremont Investment and Loan for foreclosing on any "structurally unfair loan"
without court approval. The Massachusetts Attorney General had argued that "a lender ... predictably lead to foreclosure is unfair and deceptive and in violation of Massachusetts law."
More precisely, a consumer loan that is not intended to be repaid, but intended to be refinanced (a process that can only work if property
values rise ...
Search on: Blawgs.FM | BlawgSearch Google Co-op |
Blawg.com | Bloglines | Feedster | Google Blog Search |
Technorati | Google | MSN | Yahoo!