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Ditech
Ditech Financial LLC (rebranded from “ditech Mortgage” and "Green Tree Servicing" in 2015) was a provider of Mortgage loan, home loan, loan servicing and Refinancing, refinance products to consumers and institutional partners in the U.S. In May 2014, Ditech announced its re-entry to the national housing market after it “disappeared” from the marketplace for five years during the subprime mortgage crisis in the late 2000s. It also announced a corporate re-branding with its servicing affiliate, Green Tree Servicing, which took place in 2015. History In 1995, J. Paul Reddam, John Paul Reddam founded DiTech Funding Corporation (DiTech) in Costa Mesa, California. The company's name was derived from the phrase “direct technology.” DiTech became one of the first lenders to offer mortgages to the public online and via a toll-free number. In April 1995, Reddam began originating, selling, and servicing mortgage loans tied to the prime interest rate. Reddam's business model quick ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ally Financial
Ally Financial is a bank holding company organized in Delaware and headquartered in Detroit, Michigan. The company provides financial services including car finance, online banking via a direct bank, corporate lending, vehicle insurance, mortgage loans, and an electronic trading platform to trade financial assets. Ally is one of the largest car finance companies in the U.S., providing car financing and leasing for 4.5 million customers and originating 1.4 million car loans annually. It is on the list of largest banks in the United States by assets and has 2.0 million depositors. Its electronic trading platform has approximately 350,000 funded accounts. The company has sold more than 5 million vehicles, including 270,000 vehicles sold in 2019 via its SmartAuction online marketplace for auto auctions, launched in 2000. The company was known as GMAC, an acronym for General Motors Acceptance Corporation, until 2010. History The company was founded in 1919 by General Motors (GM) a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Costa Mesa, California
Costa Mesa (; Spanish for "Table Coast") is a city in Orange County, California. Since its incorporation in 1953, the city has grown from a semi-rural farming community of 16,840 to an urban area including part of the South Coast Plaza–John Wayne Airport edge city, one of the region's largest commercial clusters, with an economy based on retail, commerce, and light manufacturing. The city is home to the two tallest skyscrapers in Orange County. The population was 111,918 at the 2020 census. History Members of the Tongva and Acjachemen nations long inhabited the area. The Tongva villages of Lupukngna, at least 3,000 years old, and the shared Tongva and Acjachemen village of Genga, at least 9,500 years old, were located in the area on the bluffs along the Santa Ana River. After the 1769 expedition of Gaspar de Portolà, a Spanish expedition led by Junípero Serra named the area Vallejo de Santa Ana (Valley of Saint Anne). On November 1, 1776, Mission San Juan Capistrano ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mortgage Loans
A mortgage loan or simply mortgage (), in civil law jurisdicions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged. The loan is " secured" on the borrower's property through a process known as mortgage origination. This means that a legal mechanism is put into place which allows the lender to take possession and sell the secured property (" foreclosure" or " repossession") to pay off the loan in the event the borrower defaults on the loan or otherwise fails to abide by its terms. The word ''mortgage'' is derived from a Law French term used in Britain in the Middle Ages meaning "death pledge" and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure. A mortgage can also be described as "a borrower giving consideration in the for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Co-branding
Co-branding is a marketing strategy that involves strategic alliance of multiple brand names jointly used on a single product or service. Co-branding is an arrangement that associates a single product or service with more than one brand name, or otherwise associates a product with someone other than the principal producer. The typical co-branding agreement involves two or more companies acting in cooperation to associate any of various logos, color schemes, or brand identifiers to a specific product that is contractually designated for this purpose. The object for this is to combine the strength of two brands, in order to increase the premium consumers are willing to pay, make the product or service more resistant to copying by private label manufacturers, or to combine the different perceived properties associated with these brands with a single product. An early instance of co-branding occurred in 1956 when Renault had Jacques Arpels of jewelers Van Cleef and Arpels turn the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nonprime Mortgage
In finance, subprime lending (also referred to as near-prime, subpar, non-prime, and second-chance lending) is the provision of loans to people in the United States who may have difficulty maintaining the repayment schedule. Historically, subprime borrowers were defined as having FICO scores below 600, although this threshold has varied over time. These loans are characterized by higher interest rates, poor quality collateral, and less favorable terms in order to compensate for higher credit risk. Many subprime loans were packaged into mortgage-backed securities (MBS) and ultimately defaulted, contributing to the financial crisis of 2007–2008.Lemke, Lins and Picard, ''Mortgage-Backed Securities'', Chapter 3 (Thomson West, 2013 ed.). Defining subprime risk The term ''subprime'' refers to the credit quality of particular borrowers, who have weakened credit histories and a greater risk of loan default than prime borrowers. As people become economically active, records are cre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
GMAC ResCap
GMAC ResCap, Inc. was a residential mortgage loan originator and servicer based in Minneapolis, United States. As a result of its exposure to subprime lending during the subprime mortgage crisis, the company filed for bankruptcy protection in 2012 and underwent liquidation in December 2013. History In 1982, Residential Funding Company LLC was formed as a subsidiary of Northwest Bank. In 1990, the company was acquired by GMAC Mortgage Corp. In 2005, GMAC (now Ally Financial), a subsidiary of General Motors, transferred ownership of GMAC Mortgage Corporation and Residential Funding Corporation (GMAC-RFC) to Residential Capital Corporation (ResCap) and contributed $2 billion of equity. In January 2007, the company eliminated 1,000 jobs. In October 2007, the company eliminated 3,000 jobs. At the beginning of 2007, the company had 14,000 employees. In May 2008, the company reported that it may run out of money. In June 2008, the company completed a $60 billion refinancing. In 20 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Department Of The Treasury
The Department of the Treasury (USDT) is the national treasury and finance department of the federal government of the United States, where it serves as an executive department. The department oversees the Bureau of Engraving and Printing and the U.S. Mint. These two agencies are responsible for printing all paper currency and coins, while the treasury executes its circulation in the domestic fiscal system. The USDT collects all federal taxes through the Internal Revenue Service; manages U.S. government debt instruments; licenses and supervises banks and thrift institutions; and advises the legislative and executive branches on matters of fiscal policy. The department is administered by the secretary of the treasury, who is a member of the Cabinet. The treasurer of the United States has limited statutory duties, but advises the Secretary on various matters such as coinage and currency production. Signatures of both officials appear on all Federal Reserve notes. The depart ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fort Washington, PA
Fort Washington is a census-designated place and suburb of Philadelphia in Montgomery County, Pennsylvania, United States. The population was 5,446 at the 2010 census. History Prior to the Revolutionary War the Fort Washington area was settled by many German immigrants. One such person was Philip Engard who immigrated in 1728. Engard purchased on what was to be named Susquehanna Road and Fort Washington Avenue. By the mid-18th century the area came to be known as Engardtown, and Fort Washington Avenue was originally called Engardtown Road. The house built by Philip Engard is listed as the "Engard Family Home - 1765" in the Upper Dublin Township Open Space & Environmental Resource Protection Plan - 2005, as part of the Upper Dublin Historical Properties #25. American Revolutionary War During the Philadelphia campaign of the American Revolutionary War, George Washington and the Continental Army were encamped here after their October 4, 1777 defeat at the Battle of Germant ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
GMAC Inc
GMAC or G-MAC may refer to: Organizations * Ally Financial (General Motors Acceptance Corporation), traded as GMAC until 2010 * GMAC Insurance, former name of National General Insurance * GMAC Real Estate, a former real estate franchised brokerage firm * GMAC ResCap (Residential Capital), which includes GMAC Mortgage * Graduate Management Admission Council, an international association of business schools * GMA Canada, the Gospel Music Association of Canada, formerly the CGMA * Global Markets Advistory Committee, part of the U.S. Commodity Futures Trading Commission Computing * Galois Message Authentication Code, a type of cryptographic message authentication code * Giga multiply–accumulate operations per second, a rate of multiply–accumulate operations * Gigabit media access controller, for handling an Ethernet physical transceiver; See Gigabit Ethernet Other uses * Graeme McDowell (born 1979), Northern Irish professional golfer nicknamed G-Mac * GMAC Bowl The LendingTree B ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stated Income Loan
A stated income loan is a mortgage where the lender does not verify the borrower's income by looking at their pay stubs, W-2 (employee income) forms, income tax returns, or other records. Instead, borrowers are simply asked to state their income, and taken at their word. These loans are sometimes called liar loans or liar's loans. Stated income loans were originated by Ameriquest. Reasons for stated income loans These loans are nominally intended for self-employed borrowers, or other borrowers who might have difficulty documenting their income. Stated income loans have been extended to customers with a wide range of credit histories, including subprime borrowers. The lack of verification makes these loans particularly simple targets for fraud. Stated income loans fill a gap of situations which normal loan standards would not approve. For example, a standard rule is that a customer's mortgage and other loan payments should take up no more than 45% of the person's income. This wo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Residential Capital, LLC
GMAC ResCap, Inc. was a residential mortgage loan originator and servicer based in Minneapolis, United States. As a result of its exposure to subprime lending during the subprime mortgage crisis, the company filed for bankruptcy protection in 2012 and underwent liquidation in December 2013. History In 1982, Residential Funding Company LLC was formed as a subsidiary of Northwest Bank. In 1990, the company was acquired by GMAC Mortgage Corp. In 2005, GMAC (now Ally Financial), a subsidiary of General Motors, transferred ownership of GMAC Mortgage Corporation and Residential Funding Corporation (GMAC-RFC) to Residential Capital Corporation (ResCap) and contributed $2 billion of equity. In January 2007, the company eliminated 1,000 jobs. In October 2007, the company eliminated 3,000 jobs. At the beginning of 2007, the company had 14,000 employees. In May 2008, the company reported that it may run out of money. In June 2008, the company completed a $60 billion refinancing. In 20 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
General Motors
The General Motors Company (GM) is an American Multinational corporation, multinational Automotive industry, automotive manufacturing company headquartered in Detroit, Michigan, United States. It is the largest automaker in the United States and was the largest in the world for 77 years before losing the top spot to Toyota in 2008. General Motors operates manufacturing plants in eight countries. Its four core automobile brands are Chevrolet, Buick, GMC (automobile), GMC, and Cadillac. It also holds interests in Chinese brands Wuling Motors and Baojun as well as DMAX (engines), DMAX via joint ventures. Additionally, GM also owns the BrightDrop delivery vehicle manufacturer, GM Defense, a namesake Defense vehicles division which produces military vehicles for the United States government and military; the vehicle safety, security, and information services provider OnStar; the auto parts company ACDelco, a GM Financial, namesake financial lending service; and majority ownership in t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
