Was Thornburg a good lender who was merely subject to a short-term credit crunch? Or was there foul play?
It’s almost a certainty that the super-conforming loan level in the higher-priced areas will indeed drop to $625,500 from $729,750 on October 1. Here are new loan limit memos from Fannie Mae and FHFA, and here’s an an MSNBC story on jumbo loan implications. Aventur Partners & Aventur Mortgage Capital are turning some heads in
Below are two notable items on this slow news day, as well as a primer on how mortgage banks lock loans and hedge risk. (1) The bankruptcy trustee for Thornburg Mortgage sued Goldman, Barclays and other big banks for a combined $2.2 billion, blaming them for its bankruptcy. Meanwhile, former Thornburg CEO Larry Goldstone is
FHA Commissioner David Stevens resigned Thursday and will vacate his post end-of-April. Former mortgage banker Stevens stepped in July 2009 and helmed the FHA during a tricky time: FHA-insured home loans were jolted back into relevance when Congress drastically increased FHA loan limits to (regional caps of) $729,750. But this increase happened in a crisis