The New York Mortgage Company introduces Homeowner Protection ARM

Aug 06, 2006

National City Corporation may put First Franklin up for saleMortgagePress.comFirst Franklin Financial Corporation, National City National City Corporation may put its sub-prime division, First Franklin Financial Corporation, up for sale, likely due to a dramatic decline in loan production in the first quarter of 2006 reported by Quarterly Data Report. It is also considering divesting itself of sub-prime servicing division National City Home Loan Services and direct-to-consumer lending subsidiary NationsPoint. A bank spokesman stated that National City is not committed to selling any of the three units if it finds offers made by potential buyers unsatisfactory. National City's prime mortgage division, National City Mortgage, is not being considered for sale. National City Corporation is a bank based in Cleveland. For more information, call (888) 622-4932 or visit www.nationalcity.com.

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Aug 06, 2006

Analysis and Data

Homes With Negative Equity Jump In Third Quarter

“I am surprised to have seen some of the increases in home prices," CoreLogic's chief economist says.

With home prices projected to enter a period of deceleration over the course of 2025 and 2026, a new report shows that the share of negative equity rose in the U.S. from the second quarter to the third quarter — the first quarterly rise since the fourth quarter of 2022. W...

People On The Move

Jason Lee New President Of The Loan Store

The former Flagstar Executive to steer The Loan Store through next phase of "aggressive growth"

The Loan Store, a leading wholesale mortgage lender, has tapped industry veteran Jason Lee to be its new president. With a career spanning more than two decades in the mortgage and banking industries, Lee is expected to bring expertise in capital markets, leadership, and ...