May 15 average daily rates in Orange County for 30-year fixed loans with one-point fee: Conforming up to 5.943%, Jumbo up to 7.239% and Conforming-Jumbo up to 6.827% (Note: conforming-jumbo rates are for loans from $417,000 to $729,750, while conforming is up to $417,000 -- both types are sold to GSEs. Jumbos here are above $417,000 and not sold to GSEs.)
Source: Newspaper Chart Services 
Fremont expects to file for bankruptcy
May 9th, 2008, 12:52 pm · 2 Comments · posted by John Gittelsohn
Fremont General Corp. says “it is the expectation of the board of directors” that it will file for voluntary Chapter 11 bankruptcy as the Brea-based subprime lender heads toward complete liquidation.
The parent of Fremont Investment & Loan said it reached an agreement Thursday with Litton Loan Servicing LP, an affiliate of Goldman Sachs & Co., to take over servicing of its $12.2 billion loan portfolio.
In April, Fremont announced a purchase agreement with CapitalSource TRS Inc. to assume ownership of Fremont’s branches and banking operations, a process that is still awaiting regulatory approval.
Fremont said the bankruptcy will not affect the federally-insured deposits of its clients as long as their total accounts are worth less than $100,000.
Click HERE to see the company’s latest filing.
- Fremont to sell bank assets to CapitalSource
- Regulators give Fremont 60 days to raise capital or sell bank
- Fremont General running low on cash, will explore sale
- New Century’s bankruptcy report blames KPMG, executives for misstatements
May 9th, 2008 at 1:24 pm
downey saving may be next…
May 9th, 2008 at 4:48 pm
Best get educated on your FDIC insurance John! Everyone’s entitled to $100K of coverage, but you can have more coverage based on how your accounts are titled. For example, joint account holders are entitled to $100K per owner, and trust accounts are entitled to $100K per qualified beneficiary. Don’t let your apparent lack of knowledge about how FDIC insurance works cause everyone to panic.