Subprime mortgage crisis

New Fed Mortgage Expands Mortgage Lending Into North Carolina

Retrieved on: 
Friday, July 23, 2021
Mortgage industry of the United States, Finance, Money, Economy, Loans, Mortgage loan, Fannie Mae, Mortgage-backed security, United States housing bubble, Subprime mortgage crisis, Mortgage bank, Sun West Mortgage

DANVERS, Mass., July 23, 2021 /PRNewswire-PRWeb/ -- Massachusetts based New Fed Mortgage Corp., a multi-state residential mortgage lender is pleased to announce their approval by the North Carolina Commissioner of Banks to lend in the state and is now able to serve the state with a wide array of mortgage programs.

Key Points: 
  • DANVERS, Mass., July 23, 2021 /PRNewswire-PRWeb/ -- Massachusetts based New Fed Mortgage Corp., a multi-state residential mortgage lender is pleased to announce their approval by the North Carolina Commissioner of Banks to lend in the state and is now able to serve the state with a wide array of mortgage programs.
  • New Fed Mortgage President, Brian D'Amico, commented "Our goal is to work one on one with our clients in North Carolina with a hands-on approach throughout every step of the process to help them with the pursuit of home ownership.
  • New Fed Mortgage, an approved Fannie Mae and Freddie Mac seller servicer, is looking to create more lending opportunities in North Carolina with their consumer direct channel to serve the region as well as looking for opportunities with Branch Managers.
  • New Fed Mortgage has specialized in residential retail mortgage lending since 2001.

TortoiseEcofin Acquisition Corp. III Announces Closing of $300,000,000 Initial Public Offering

Retrieved on: 
Thursday, July 22, 2021
Finance, Primary dealers, Financial markets, Money, Goldman Sachs, Subprime mortgage crisis, Cantor Fitzgerald, Ticker symbol

Overland Park, Kansas, July 22, 2021 (GLOBE NEWSWIRE) -- TortoiseEcofin Acquisition Corp. III (the Company) today announced the closing of its initial public offering of 30,000,000 units at a price of $10.00 per unit.

Key Points: 
  • Overland Park, Kansas, July 22, 2021 (GLOBE NEWSWIRE) -- TortoiseEcofin Acquisition Corp. III (the Company) today announced the closing of its initial public offering of 30,000,000 units at a price of $10.00 per unit.
  • The units are listed on the New York Stock Exchange (the NYSE) and trade under the ticker symbol TRTL.U.
  • Barclays, Goldman Sachs & Co. LLC and Cantor Fitzgerald & Co. acted as joint book-runners for the offering.
  • TortoiseEcofin Acquisition Corp. III was formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination.

Core & Main Announces Pricing of Initial Public Offering

Retrieved on: 
Friday, July 23, 2021
Building Systems, Other Construction & Property, Residential Building & Real Estate, Commercial Building & Real Estate, Construction & Property, Finance, Banks, Goldman Sachs, Subprime mortgage crisis, Stock market, Initial public offering, Corporate finance, Initial public offering of Facebook

Core & Main, Inc., a leading specialized distributor of water, wastewater, storm drainage and fire protection products, and related services, announced the pricing of its initial public offering (IPO) of 34,883,721 shares of its Class A common stock at a public offering price of $20.00 per share.

Key Points: 
  • Core & Main, Inc., a leading specialized distributor of water, wastewater, storm drainage and fire protection products, and related services, announced the pricing of its initial public offering (IPO) of 34,883,721 shares of its Class A common stock at a public offering price of $20.00 per share.
  • All of the shares of Class A common stock are being offered by Core & Main.
  • The offering is expected to close on July 27, 2021, subject to customary closing conditions.
  • Goldman Sachs & Co. LLC, Credit Suisse and J.P. Morgan are acting as lead book-running managers for the proposed offering.

GBank Financial Holdings Inc. Announces Quarterly Operating Earnings

Retrieved on: 
Friday, July 23, 2021
Finance, Banks, Financial services, Investment banks, Primary dealers, Subprime mortgage crisis, UBS, Warburg family

Second Quarter Financial Highlights(for the quarterly period ended and at June 30, 2021)

Key Points: 
  • Second Quarter Financial Highlights(for the quarterly period ended and at June 30, 2021)
    Net income increased 222% to $3.36 million, compared to Q1 2021.
  • This bold initiative utilized the Company's sizable financial strength to support all the Bank's communities and clients.
  • The Company will host its quarterly earnings call on Tuesday, August 3, at 2:00 p.m. (PST).
  • GBank Financial Holdings Inc. ("GBank" or the "Company") ( GBFH ), a bank holding company with approximately $544 million in assets at June 30, 2021, conducts business through its wholly owned subsidiary, Bank of George (named in honor of George Washington).

SIMON Raises $100 Million in Series B Funding to Fuel Next Growth Phase for Digital Wealth Management Platform

Retrieved on: 
Thursday, July 22, 2021
Technology, Insurance, Finance, Accounting, Professional services, Small business, Software, Networks, Internet, Finance, Articles, Money, Financial markets, Goldman Sachs, Subprime mortgage crisis, Financial technology

SIMONs cutting-edge technology streamlines the work of financial professionals, enabling them to explore alternative investment solutions and address historical impediments by using an intuitive and easy-to-use platform.

Key Points: 
  • SIMONs cutting-edge technology streamlines the work of financial professionals, enabling them to explore alternative investment solutions and address historical impediments by using an intuitive and easy-to-use platform.
  • This funding round enables SIMON to further advance its core offering across structured investments and annuities, while driving additional growth initiatives centered on product and geographic expansion.
  • THE SIMON GROWTH STORY IN JUST 3 YEARS:
    In December 2018, SIMON spun out from Goldman Sachs.
  • The strength of their technology and the experience theyve built is positioning SIMON as a preferred fintech platform for financial advisors.

LexinFintech Wins The Asian Banker Award for the Third Year in a Row

Retrieved on: 
Thursday, July 22, 2021
Companies, Finance, Financial services, Primary dealers, Subprime mortgage crisis, Industrial and Commercial Bank of China, Citigroup, Ant Group, Bank, The Asian Banker

Lexin also won Best AI and Innovation Lab in China in 2020 and Best Lending Technology in China in 2019 from The Asian Banker.

Key Points: 
  • Lexin also won Best AI and Innovation Lab in China in 2020 and Best Lending Technology in China in 2019 from The Asian Banker.
  • The Asian Banker Awards are generally viewed by executives as one of the most rigorous, prestigious and transparent financial awards in Asia.
  • Previous winners of the award include world-renowned financial institutions such as Citigroup, Ant Financial and ICBC.
  • LexinFintech Holdings Ltd. is a leading online consumption and finance platform for new generation consumers and users in China.

Jonathan Pritti and Andrew Redmond to Join Guggenheim Securities Healthcare Investment Banking

Retrieved on: 
Thursday, July 22, 2021
Finance, Financial services, Banks, Primary dealers, Guggenheim Partners, Guggenheim family, Subprime mortgage crisis, Investment banks, Houlihan Lokey, Investment banking, Goldman Sachs, BNP Paribas

NEW YORK, July 22, 2021 (GLOBE NEWSWIRE) -- Guggenheim Securities, the investment banking and capital markets division of Guggenheim Partners, announced today that Jonathan Pritti will join the firm as a Senior Managing Director and Andrew Redmond will join the firm as a Managing Director in its healthcare investment banking practice and will focus on covering healthcare-focused information technology companies.

Key Points: 
  • NEW YORK, July 22, 2021 (GLOBE NEWSWIRE) -- Guggenheim Securities, the investment banking and capital markets division of Guggenheim Partners, announced today that Jonathan Pritti will join the firm as a Senior Managing Director and Andrew Redmond will join the firm as a Managing Director in its healthcare investment banking practice and will focus on covering healthcare-focused information technology companies.
  • Mr. Pritti joins Guggenheim with more than two decades of investment banking experience, most recently serving as Managing Director and Head of Healthcare Information Technology at Houlihan Lokey.
  • Mr. Pritti was also previously a member of the Healthcare Investment Banking group at Goldman Sachs and he began his career in investment banking at BNP Paribas.
  • Guggenheim Securities is the investment banking and capital markets business of Guggenheim Partners, a global investment and advisory firm.

Mortgage Rates Trend Down

Retrieved on: 
Thursday, July 22, 2021
Mortgage, Loans, Mortgage loan, Money, Finance, Fixed-rate mortgage, United States housing bubble, Economy, Second mortgage, Subprime mortgage crisis

While the economy continues to mend, Treasury yields have decreased, and mortgage rates have followed suit.

Key Points: 
  • While the economy continues to mend, Treasury yields have decreased, and mortgage rates have followed suit.
  • Unfortunately, many homebuyers are unable to take advantage of low rates due to low inventory and high prices.
  • 15-year fixed-rate mortgage averaged 2.12 percent with an average 0.7 point, down from last week when it averaged 2.22 percent.
  • Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage.

PSB Holding Corp. Reports Record Results

Retrieved on: 
Thursday, July 22, 2021
Provident, Subprime mortgage crisis

Quarterly average balances for the investment securities portfolio were $127.1 million during 2021 and $58.1 million during 2020.

Key Points: 
  • Quarterly average balances for the investment securities portfolio were $127.1 million during 2021 and $58.1 million during 2020.
  • PSB Holding Corp. is the holding company of Provident State Bank, Inc., a full-service financial institution serving the eastern shore of Maryland since 1904.
  • For more information on PSB Holding Corp. and Provident State Bank, Inc., visit www.providentstatebank.com .
  • Forward-looking statements relating to PSB Holding Corp. and its subsidiary, Provident State Bank, Inc. may include plans, strategies, objectives, expectations, intentions and adequacy of resources.

Ocean Capital Announces Formation of the Coalition of Concerned UBS Closed-End Bond Fund Investors

Retrieved on: 
Thursday, July 22, 2021
Banking, Professional services, Finance, Finance, Money, Financial services, Investment banks, Subprime mortgage crisis, UBS, Warburg family, PUERTO RICO, CNBC, Puerto Rican government-debt crisis, UBS tax evasion controversies, Banking, Professional services, Finance, Finance, Money, Financial services, Investment banks, Subprime mortgage crisis, UBS, Warburg family, PUERTO RICO, CNBC, Puerto Rican government-debt crisis, UBS tax evasion controversies

3 Market returns included in UBS Asset Managers of Puerto Rico Closed-End Funds Quarterly Report, Fourth Quarter 2020.

Key Points: 
  • 3 Market returns included in UBS Asset Managers of Puerto Rico Closed-End Funds Quarterly Report, Fourth Quarter 2020.
  • 4 Market returns included in UBS Asset Managers of Puerto Rico Closed-End Funds Quarterly Report, Fourth Quarter 2020.
  • 5 CNBC, UBS Group CEO on Puerto Rico: We could have done things better, June 18, 2018.
  • 6 CNBC, UBS Group CEO on Puerto Rico: We could have done things better, June 18, 2018.