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At 31 March 2020, UKAR and its subsidiaries had a total mortgage book of £4.7bn, down by £94.7bn since its establishment in 2010. [ 12 ] On 26 February 2021, UKAR announced the sale of its final assets from Bradford & Bingley and Northern Rock at a price of £5 billion to a consortium of Citibank and Davidson Kempner Capital Management LP .
Bradford & Bingley plc was a British bank with headquarters in the West Yorkshire town of Bingley.. The bank was formed in December 2000 by demutualisation of the Bradford & Bingley Building Society following a vote of the building society's members, who swapped their nominal share of the building society for at least 250 shares of the newly formed bank.
At the same time, the holding structure of the Group was inverted with the creation of a new UK top-co, Bluestone Consolidated Holdings Limited, which in June 2015 had net assets of £35m. Residential lending resumed in Australia in 2013, funded by a warehouse line from Macquarie Bank, and Bluestone started lending into the auto and equipment ...
A mortgage servicer is a company to which some borrowers pay their mortgage loan payments and which performs other services in connection with mortgages and mortgage-backed securities. The mortgage servicer may be the entity that originated the mortgage, or it may have purchased the mortgage servicing rights from the original mortgage lender. [ 1 ]
In 2006, the company was second only to HSBC Finance in issuing subprime mortgages, [3] making $51.6 billion in subprime loans. [7] Subprime mortgage loans are made to borrowers with limited or bad credit history. With a higher rate of default than prime loans, subprime mortgage loans are priced based on the risk assumed by the lender.
Platform Home Loans is the intermediary mortgage lending subsidiary of The Co-operative Bank. The current incarnation of the firm was launched in February 2003 following the merger of Britannia Building Society subsidiaries Platform Home Loans and Verso. The firm became part of the Co-operative Bank group when that firm merged with Britannia in ...
GoodLeap, formerly Loanpal, [2] is a finance technology company headquartered in Roseville, [3] that provides financing options for the residential solar energy industry. The company employs about 1,300 people. [ 4 ]
As of the end of 2006, the company had $48 billion, or 76% of its mortgage portfolio invested in subprime loans. [4] In January 2007, the company eliminated 1,000 jobs. [5] In October 2007, the company eliminated 3,000 jobs. [6] At the beginning of 2007, the company had 14,000 employees. [7] In May 2008, the company reported that it may run out ...