HomeBanc Mortgage, Atlanta, filed for chapter 11 bankruptcy protection Thursday, listing a slew of creditors, including foreign and U.S. banks.The publicly traded nondepository -- the nation's 52nd-largest residential funder -- listed debts of $4.9 billion. However, it claims assets of $5.1 billion. Its unsecured U.S. creditors include Bear Stearns, Fannie Mae, Freddie Mac, J.P. Morgan Chase, and KeyBank, among others. Its foreign creditors include Bank Hapoalim, BNP Paribas, Commerzbank Aktiengesellschaft, and Liquid Funding of Ireland. Some of these creditors had loan repurchase requests out with the lender. Last week HomeBanc agreed to sell assets belonging to five of its retail branches to Countrywide Home Loans.
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The bill's signing comes weeks after one of the most notorious NTRAP providers agreed to legal settlements in two states, nullifying existing contracts.
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Mortgage activity fell 3.8% from one week prior for the week ending Dec. 12, led by a 4% drop in refinance applications, the Mortgage Bankers Association said.
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The deal significantly grows United Wholesale Mortgage's servicing portfolio, and it will increase the float on its common stock, making it more investable.
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The lawsuit is the latest scrutiny over personnel moves this year at the companies under the purview of U.S. Federal Housing Finance Agency Director Bill Pulte.
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The trade group's letter to FHFA Director Bill Pulte pointed out that lenders were facing credit report price hikes for four straight years.
December 16 -
Hart, who came over from Ellie Mae, starts in the position of Jan. 1, as Tim Bowler moves to a new role within ICE's Fixed Income and Data Services division.
December 16



