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As a direct subsidiary of PlainsCapital Bank, PrimeLending is a national residential mortgage originator providing home loans, home renovation loans and mortgage refinancing. [30] PrimeLending has ranked as a Top 10 purchase lender yearly since 2012, based on purchase units. It reported originating US$23 billion in loans in 2020. [31]
PlainsCapital Bank conducts commercial and consumer banking in the state of Texas. The bank is a member of the Federal Deposit Insurance Corporation (FDIC) and states it is an Equal Housing Lender. The bank offers: Commercial lending and other commercial banking services; Treasury management; Small business banking; Private banking
The terms equal housing lender and equal opportunity lender are synonymous and refer to all banks insured by the Federal Deposit Insurance Corporation in the United States. . Such banks are prohibited from discriminating on the basis of race, color, religion, national origin, sex, handicap, or familial sta
The National Association of Affordable Housing Lenders (NAAHL) is a U.S. trade organization founded by Melvin J. Carriere, representing financial institutions that provide financing and investing to low- and moderate-income communities.
In the world of finance and lending, transparency is key. The Truth in Lending Act stands as a vital piece of legislation designed to ensure just that. Its provisions ensure that borrowers have ...
Under a typical subprime mortgage made during the housing boom, a $500,000 loan at a 5.5% interest rate for 30 years results in a monthly principal and interest payment of approximately $2,839.43. In contrast, the same loan at 8.5%, under a typical 3% adjustment cap for 27 years (after the adjustable period ends), results in a payment of about ...
Founded in 1852 and headquartered in San Francisco, Wells Fargo offers banking products, such as checking accounts, savings accounts, certificates of deposit (CDs), and loans to individuals, small ...
1993: The Federal Reserve Bank of Boston published "Closing the Gap: A Guide to Equal Opportunity Lending", which recommended a series of measures to better serve low-income and minority households, including loosening income thresholds for receiving a mortgage, influencing government policy and housing activist demands on banks thereafter.