Wells Fargo Plans Foray Into Warehouse Lending
San Francisco-based bank and mortgage lender Wells Fargo is reportedly looking to venture into warehouse lending, according to Bloomberg.
The paper, which cited two people familiar with the matter, said the business would be based out of Atlanta, and headed by Kenneth Lognan, who was acquired via the Wachovia merger.
Back in February, Wells chief John Stumpf said the bank had been out of the warehouse Read more
Repayment Plans Dominate Fannie and Freddie Loan Workouts
Fannie Mae and Freddie Mac saw an increase in loan modifications during the fourth quarter, but inferior repayment plans continue to dominate loss mitigation efforts, according to the latest report from the Federal Housing Finance Agency.
A total of 23,777 loan modifications were carried out during the fourth quarter, up from 13,488 in the third quarter, but still rather dismal numbers for the Enterprises’ stable Read more
Simplified IVA plans withdrawn
Anyone with an interest in IVAs (Individual Voluntary Arrangements) will probably have heard about the fate of the SIVA (Simplified IVA).
The Insolvency Service has announced that plans to introduce SIVAs have been withdrawn, stating that the ‘successful operation of the IVA Protocol has resulted in many of the desired improvements in the IVA marketplace being implemented without the need for further legislation’.
Simplified Read more