ESI Entertainment Systems Inc. (TSX: ESY) is pleased to announce that the Company has completed a loan agreement of USD $2 million bearing interest at the rate of 6% per annum and repayable in two installments with the first due on December 11, 2008 and the second due on June 11, 2009; the loan is secured by first ranking fixed charges on the entire issued share capital of two of the Company's principal subsidiaries, ESI Integrity Inc. and Citadel Commerce UK Limited.
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DebtX, the largest marketplace for commercial whole loans, today announced it has been selected by a major U.S. commercial bank to dispose of more than $52 million in commercial and multifamily real estate loans.
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First Financial Bankshares, Inc. (Nasdaq: FFIN) today reported the sale of approximately $50 million in student loans in April and May 2008, recognizing a before income tax premium of approximately $1.5 million, similar to amounts recorded in the second quarter of 2007.
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Citi released some guideline changes in the wholesale changes that can be described easily as the first big step towards killing stated income loans.
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In a lending environment where securing a loan is increasingly out of reach for borrowers, April 16 proved momentous for Hackensack-based Kennedy Funding, Inc. The direct private lending company closed four loans that day, three for land development and one for financial restructuring, totaling almost $40 million.
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The Federal Reserve on Friday approved the proposal, released Thursday by the Office of Thrift Supervision and the National Credit Union Administration. The proposal would give reasonable time to make payments and much more.
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Even as the housing slump sees home owners defaulting in record numbers and mortgage lenders writing off billions of dollars of bad loans, others are seeking the silver lining. Home prices are falling, and many consumers are betting that now may be the time to buy. These would-be home owners are finding, however, that buying their dream home might not be as easy as it was before the housing bust.
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The Federal Reserve is at it again, pumping another $50 billion in short-term loans in to the financial system to prevent a freeze up. That brings the total to a cool $360 billion since the auctions started in December. 83 bidders were represented looking for a slice of the loans which were granted at 2.87% interest.
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DebtX, the largest marketplace for commercial debt, today announced the sale of more than $218 million in residential and commercial real estate loans secured by properties across the United States.
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More than $1 million in U.S. Small Business Administration Disaster Assistance Loans have been approved for residents in Alabama who were affected by the February 2008 storms and tornadoes.
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New York Mortgage Trust, Inc. (OTC Bulletin Board: NMTR) announced that, on March 13 and 14, 2008, in connection with the Company's previously announced decision to reduce leverage in its portfolio of Agency mortgage-backed securities, the Company sold approximately $236 million of Agency MBS issued by Fannie Mae, resulting in a loss of approximately $6 million.
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Popular, Inc. announced today the completion of the previously announced sale by its Equity One subsidiary of a significant portion of its U.S. consumer-finance loan portfolio to American General Finance, Inc. for approximately $1.48 billion.
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