Hershman signs exclusive agreement with HouseValues

Jun 20, 2006

Accredited Home Lenders to acquire Aames InvestmentMortgagePress.comNon-prime lenders, Accredited Home Lenders, Aames Investment Corporation Accredited Home Lenders Holding Company and Aames Investment Corporation have reached a definitive agreement, by which Accredited Home Lenders will purchase Aames for approximately $340 million. The acquisition, once complete, will make Accredited Home Lenders the sixth largest retail originator and 12th largest overall originator in the non-prime mortgage industry and give the company the ninth largest non-prime mortgage portfolio and 19th largest servicing portfolio. Accredited Home Lenders Holding Company is a San Diego-based firm that originates, finances, securitizes, services and sells non-prime mortgage loans secured by residential real estate. For more information, call (866) 858-5363 or visit www.accredhome.com. Los Angeles-based Aames Investment Corporation is a mortgage originator specializing in non-prime residential mortgage loans. For more information, call (800) 914-9047 or visit www.aames.com.

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Jun 20, 2006

Courts

LoanSnap Officially Loses Connecticut License

The AI mortgage startup formerly faced a cease and desist and a consent order from the State of Connecticut.

LoanSnap, Inc., an AI-powered mortgage startup, has had its license to operate revoked in Connecticut, according to a new Consent Order executed by the State's Banking Commissioner, Jorge Perez, on Oct. 2. The news follows LoanSnap's violation of a previous order, enacted in...

Analysis and Data

Mortgage Applications Fall After Rate-Jump

Refinance applications still 159% higher on an annual basis, reflecting last year's record lows

In the wake of a positive jobs report and subsequent rise in mortgage rates, more prospective borrowers held back this past week. Mortgage applications fell by 5.1% the week ending October 4, according to data from the Mortgage Bankers Association’s (MBA) Weekly Applicati...