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Almost $32 Billion of Subprime Loan Receivables For Sale.(Brief Article)
Fairbanks Capital here, which likes to buy receivables from ailing companies, is eyeing assets at two of the nation's most troubled subprime firms: EquiCredit of Florida, and the New York-based Alliance Funding.
Late last week, Fairbanks executive Rick Lee declined to discuss either firm, saying that he has signed confidentiality agreements that prohibit him from talking.
Fairbanks, a subservicer of mostly subprime loans that keeps a low profile in the industry, has deep- pocketed investors that include GE Equity Partners, FGIC and Nomura.
Another specialty servicer that is rumored to be interested in EquiCredit's $26 billion in subprime servicing - or at least part of it - is Ocwen Financial, West Palm Beach, Fla. Ocwen chief executive Bill Erby declined to comment.
A spokeswoman for BankAmerica, Charlotte, N.C., EquiCredit's parent, said the bank is in the process of taking bids for the $26 billion in receivables.
A servicing platform also is included in the deal. The bank is acting as its ...
- DUFF & PHELPS RATES ALLIANCE FUNDING CORPORATION $106,500,000 MORTGAGE LOAN...
- Press release article from: PR Newswire December 23, 1993 700+ words
NEW YORK, Dec. 23...issued by Alliance Funding Corporation...originated by the Alliance Funding Division of...percent in New York, 13 percent...Co./ CO: Alliance Funding Corporation ST: New York IN: FIN SU...
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- Press release article from: Business Wire August 18, 1999 700+ words
...today announced that Alliance Funding, a subsidiary of...About Superior Bank/Alliance Funding Superior Bank FSB...Illinois. Through Alliance Funding, its consumer finance...headquartered in Orangeburg, New York, Superior engages...
- Cushman & Wakefield brokers $47M Alliance Funding lease.(Brief Article)
- Magazine article from: Real Estate Weekly May 3, 2000 700+ words
Alliance Funding, a division of Superior Bank FSB of...feet at 1 Ramland Road in Orangeburg, New York. The multi-year transaction, valued...facility, into corporate offices for Alliance Funding. "Alliance needed a location that...
- Alliance Funding exodus: longtime president quits, 5 defect to GMAC unit....
- Magazine article from: American Banker Hornblass, Jonathan S. March 2, 1995 700+ words
...executives have left Alliance Funding Co., the 25th...tired" of working at Alliance Funding. "Certainly the...reached for comment. Alliance Funding is a division of Superior...Dworman family of New York. According to David...
- Alliance Funding taps Florida company to arm its brokers with laptop system....
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Alliance Funding, a New Jersey-based second mortgage...Network, Plantation, Fla., will give Alliance Funding's brokers access to laptop computer...of Chicago and the Dworman family of New York. "This relationship will allow us...
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- Magazine article from: Origination News Muolo, Paul January 1, 2002 700+ words
By the time you read this, most of Alliance Funding, Orangeburg, N.Y., will be sold - the question is...Bank of Illinois is being offered through Hanover Capital, New York. A Hanover official declined to comment. Copyright c 2002...
- Fitch Affirms 3 Classes From 2 Alliance Funding Issues.
- Press release article from: Business Wire April 15, 2003 700+ words
Business Editors NEW YORK--(BUSINESS WIRE)--April 15, 2003 Fitch Ratings has taken rating actions on the following Alliance Funding Company issues: Series 1994-1 -- Class 2 A-1 affirmed at 'AAA'; -- Class 2 A-2 affirmed at...
- Dutch Development Agency Renews TB Alliance Funding with EUR 2 Million Grant.
- Press release article from: Business Wire February 3, 2005 700+ words
NEW YORK & AMSTERDAM -- The Department of Development Cooperation of the Netherlands Ministry of Foreign Affairs (DGIS), the leading...