AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Chase Takes Over Big B&C Servicer.(Advanta Mortgage)(Brief Article)
Chase Manhattan Mortgage Corp., Edison, N.J., has agreed to pay $1.6 billion for the assets of Advanta Mortgage, Horsham, Pa., the fourth largest servicer of subprime residential loans.
Chase is expected to keep Advanta's large subservicing business intact.
According to Luke Hayden, executive vice president of J.P. Morgan Chase & Co., Chase will pay $1 billion for Advanta's mortgage assets which include its production facilities, servicing assets, its on-balance sheet loans, and another $600 million for Advanta's off-balance sheet loans.
Besides being the nation's fourth largest subprime servicer, Advanta Mortgage is the 24th largest B&C lender, according to the Quarterly Data Report. (After Chase integrates the company, the combined Advanta/Chase Manhattan Funding will rank 10th among subprime residential lenders.)
The sale is subject to approval by Advanta's shareholders and also requires regulatory approval.
Prior to the deal, the subprime division of Chase Manhattan Funding did not service subprime residential loans ...
- S&P Raises, Afms Rtgs on Var Advanta Mortgage Certs.
- Press release article from: Business Wire January 10, 2002 700+ words
...through certificates issued by Advanta Mortgage Loan Trust 1997-3 and 1997...raised on the M-1 class of Advanta Mortgage Loan Trust 1998-1 to triple...affirmed on all other classes of Advanta Mortgage Loan Trust's series 1997...
- Fitch Affirms Advanta Mortgage Loan Trust Transactions.
- Press release article from: Business Wire February 6, 2003 700+ words
...Ratings has performed a review of Advanta Mortgage Loan Trust transactions. Based...ratings have been affirmed: Advanta Mortgage Loan Trust 1997-1 Group 1...Class B1F 'BBB+'. Advanta Mortgage Loan Trust 1997-1 Group 2...
- Advanta Mortgage Prices $500 Million Floating-Rate Mortgage Loan Securitization.
- Press release article from: Business Wire September 11, 1998 700+ words
...wholly-owned subsidiary, Advanta Mortgage Conduit Services Inc., has...close on Sept. 23, 1998. Advanta Mortgage Loan Trust 1998-3 will consist...Aaa rating from Moody's. Advanta Mortgage will retain the servicing and...
- Advanta Mortgage Prices Revolving Home Equity Loan Trust 1998-A.
- Press release article from: Business Wire June 22, 1998 700+ words
...wholly-owned subsidiary, Advanta Mortgage Conduit Services, Inc. has...expected to be insured by AMBAC. Advanta Mortgage will retain the servicing and...Relations 215/444-5335 or Advanta Mortgage Mark Dunsheath, Vice President...
- Advanta Mortgage Prices $800 Million Mortgage Loan Securitization.
- Press release article from: Business Wire February 25, 1999 700+ words
...wholly-owned subsidiary, Advanta Mortgage Conduit Services Inc., has...to close on March 9, 1999. Advanta Mortgage Loan Trust 1999-1 consists...Aaa rating from Moody's. Advanta Mortgage will retain the servicing and...
- Advanta Mortgage Prices $517.5 Million Mortgage Loan Securitization.
- Press release article from: Business Wire May 27, 1999 700+ words
...its wholly owned subsidiary, Advanta Mortgage Conduit Services, Inc., has...to close on June 3, 1999. Advanta Mortgage Loan Trust 1999-2 will consist...Aaa rating from Moody's. Advanta Mortgage will retain the servicing and...
- Standard & Poor's Raises and Affirms ADVANTA Mortgage Loan Trust Ratings.
- Press release article from: PR Newswire February 5, 2001 700+ words
...s today raised its rating on ADVANTA Mortgage Loan Trust (Advanta) asset...percentage of about 2.05%. Advanta Mortgage Corp. USA currently services...OUTSTANDING RATINGS UPGRADED Advanta Mortgage Loan Trust 1997-2 Class To...
- Advanta Mortgage Loan Trust 1997-1 $466 Million ABS Rated 'AAA' By Fitch -...
- Press release article from: PR Newswire April 2, 1997 700+ words
...April 2 /PRNewswire/ -- Advanta Mortgage Loan Trust's (Advanta...were originated or purchased by Advanta Mortgage Conduit Services, Inc. The...Service, 212-908-0559/ CO: Advanta Mortgage Loan Trust ST: IN: FIN SU...
- Advanta Mortgage Loan Trust 1997-2 $650 Million Asset-Backed Certificates Rated...
- Press release article from: PR Newswire June 17, 1997 700+ words
...June 17 /PRNewswire/ -- Advanta Mortgage Corp.'s (Advanta) $650...were originated or purchased by Advanta Mortgage Conduit Services, Inc. The...908-0559/ (ADVNA) CO: Advanta Mortgage Corp. ST: IN: FIN SU: RTG...
- Standard & Poor's Removes CreditWatch Developing Rankings on Advanta Mortgage...
- Press release article from: PR Newswire March 12, 2001 700+ words
...its CreditWatch rankings on Advanta Mortgage Corp. USA as a residential...special servicer (see list). Advanta Mortgage Corp. USA was placed on CreditWatch...from double-'B'-minus. Advanta Mortgage Corp. USA's CreditWatch removal...
Source: HighBeam Research, Chase Takes Over Big B&C Servicer.(Advanta Mortgage)(Brief...