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Borrowing against home equity (The Plain Dealer)
More than one-third of homeowners have home equity lines of credit or home equity loans. Home equity lines make up about one-fourth of mortgage debt. Last year, $5.4 billion in new equity lines were opened.
Key Grows More Pessimistic About Loans (TheStreet.com)
The bank increased the amount of charge-offs it expects due to a deteriorating portfolio of loans to homebuilders.
J.D. Power and Associates Reports: Customer Satisfaction with Home Equity Line of Credit/Loan Origination is Up, ... (PR Newswire via Yahoo! Finance)
Despite an economy affected by a stagnant housing market, decreasing home values and upheaval among lenders, overall customer satisfaction with the home equity line of credit/loan origination process has improved since 2007, according to the J.D.
Hands calls for refund on strategy change (Financial Times)
Private equity firms changing strategy by moving into new markets, such as buying leveraged loans or investing in Asia, should give investors their money back, says Guy Hands, head of Terra Firma, the buy-out firm.
States Act to Stem Foreclosure Scams (Kansas City InfoZine)
By Pauline Vu - For people about to lose their homes to foreclosure, the advertisements are like a lifeline: "WE BUY HOUSES FOR CA$H," or "Refinance Your Mortgage! And Receive a 7 Day Vacation."
ICG plans to raise £1bn for new recovery fund (Financial Times)
Intermediate Capital Group , the mezzanine debt specialist, plans to raise £1bn for a new “recovery fund” to buy leveraged loans that banks provided for private equity deals and are now selling at a discount to face value.
Intermediate Profit Climbed 8% Amid Credit Crisis (Update2) (Bloomberg.com)
May 28 (Bloomberg) -- Intermediate Capital Group Plc , the 19-year-old U.K. provider of loans and bonds for leveraged buyouts, said fiscal full-year profit climbed 8 percent as rival forms of funding for private equity dried up.
Auditor: Supervisors Covered Up Risky Loans (NPR)
Millions of people are facing foreclosure because they got loans that should not have been approved. A big unanswered question is whether Wall Street banks knew they were selling garbage loans to investors. One former worker whose job was to catch bad loans says her supervisors covered them up.
Private Equity Investors Favor India Over China (BusinessWeek)
A report by Four-S Services shows India receiving about $19.5 billion worth of private equity investment in 2007, vs. $12.8 billion for China—a flip-flop from 2006
Rep. Richardson defaulted on three Calif. home loans (The Hill)
The tale of Rep. Laura Richardson’s (D) personal housing crisis got even more captivating Tuesday as her office said the freshman lawmaker defaulted on loans she took out for not just one, but three, California homes.