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Bank of America Offers $26B Subprime Portfolio.(Brief Article)
Bank of America, Charlotte, N.C., is auctioning off $26 billion in subprime servicing rights as well as the Jacksonville, Fla.-based platform of its EquiCredit unit.
As Mortgage Servicing News went to press this month, no deal had been struck, but interested parties were lining up to take a look at an offering book on EquiCredit put together by Goldman Sachs.
Goldman also is shopping a $1 billion pool of EquiCredit subprime whole loans, a deal that has caught the attention of Fannie Mae and Freddie Mac, sources said. (Goldman, Fannie and Freddie all declined to comment.)
Late in the summer, Bank of America liquidated EquiCredit's lending network, selling all of the unit's 96 subprime wholesale branches to two buyers: Aegis Mortgage of Houston and Resource Bancshares Mortgage Group, Columbia, S.C.
BoA's sale of $26 billion in servicing is the largest auction ever of subprime receivables, excluding franchise sales such as Citigroup's purchase earlier this year of Associates First Capital, Irving, Texas.
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- Industry defends drug ads before House.
- News wire article from: United Press International June 13, 2001 700+ words
...recitations of potential side effects not suitable for dinner conversation are having a positive effect on the overall health of America, the pharmaceutical industry's leading association told lawmakers Wednesday. Erectile dysfunction aside, the drug industry...
- An International Asset.(Robert Diez of Colonial Bank)(Brief Article)
- Magazine article from: Florida Trend Vogel, Mike May 1, 2001 700+ words
In starting Colonial Bank's international division in...University of Miami, he worked at banks locally before returning to...Diez was with Eastern National Bank in 1998 when he followed Eastern...OFFICER, SENIOR VP / COLONIAL BANK MIAMI Recent reading: "Who...
- Counting on Growth.(Dean E. McQuiddy of Sawgrass Asset Management)(Brief...
- Magazine article from: Florida Trend Finotti, John May 1, 2001 700+ words
A focus on small caps is paying off for a group of former Barnett Bank money managers. Three years ago, Dean E. McQuiddy and a handful of fellow Barnett Bank money managers left to form Sawgrass Asset Management. The firm, which has...
- United Technology Corp.(Expansion)(Brief Article)
- Magazine article from: Florida Trend May 1, 2001 700+ words
Electronic component distributor United Technology Corp. of America has added about 12,000 square feet to its West Palm Beach facility and plans to create 60 jobs this year.
- Spreading The Word.(Florida informs low income families of its KidCare health...
- Magazine article from: Florida Trend Vogel, Mike May 1, 2001 700+ words
...likely to be children of service workers such as Baggleman -- bar managers, school bus drivers, hospitality industry workers or bank tellers who pull down $20,000 to $30,000 a year. They know they make too much to qualify for Medicaid but don't know...
- Florida's Hot Designers.(architectural services)(Brief Article)
- Magazine article from: Florida Trend May 1, 2001 700+ words
...showroom in the Miami Design District. * CVV and Partners, coral Gables The town planners are exporting New Urbanism to Latin America. * Hersh Vitalini Corazzini, coral Gables A private home in Brazil, a church in Miami and historic restoration work in Sarasota...
- Off to Work They Go.(top employee benefit consultants and professional employer...
- Magazine article from: Florida Trend May 1, 2001 700+ words
...Gables, FL 33134 9 10 Harden & Associates Inc. 806 Riverside Ave. Jacksonville, FL 32204 10 11(T) Marsh Advantage America 222 Lakeview Ave., Suite 410 West Palm Beach, FL 33401 10 2 Marsh USA Inc. 1511 N. Westshore Blvd., Suite 600 Tampa...
- Latin American Trade Will Benefit Small Firms.(Brief Article)(Column)
- Magazine article from: San Diego Business Journal ZION, LEE May 28, 2001 700+ words
...merchandise sales to Central and South America and the Caribbean amounted to only $398...Diego is not yet a true gateway to Latin America and Asia." The new agreement could change...greater San Diegan commerce with Latin America. The trade pact could lower all sorts...
