Bank M&A; USDA Rural and Disaster Updates; Freddie’s Single Security Proposal

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Posted To: Pipeline Press

The management teams at residential lenders across the nation have begun forecasting for 2017. Of course no one wants to tell their boss that they expect a 20% decline in volume, as some are estimating volume to be next year versus this year, so in some areas, and for some companies, grabbing residential market share will be the name of the game. Banc of California , owner of Banc Home Loans , was in the press yesterday , and not for the right reason. A Seeking Alpha contributor wrote a post on the stock claiming ties with fraudsters. The contributor, “Aurelius,” says that most of the senior officers at BANC as well as the company’s board members have extensive relationships with a man known as Jason Galanis. According to the post, Jason Galanis is known as a fraudster. In fact, SA said that…(read more)

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