30 Second Answer
Credit-Based Asset Servicing and Securitization LLC bought Fieldstone this year.
On January 31, 2008, Fieldstone Investment Corporation announced that it had agreed to sell its wholly owned subsidiary, Fieldstone Mortgage Company, to Credit-Based Asset Servicing and Securitization LLC (C-BASS). C-BASS is a privately held company that specializes in servicing and securitizing subprime mortgage loans.
Fieldstone Mortgage Company is a national provider of mortgage banking services. It offers a broad range of products, including fixed-rate and adjustable-rate first-lien residential mortgages, first- and second-lien home equity loans, and subprime mortgage loans. The company operates in three segments: origination, servicing, and securitization.
Under the terms of the agreement, C-BASS will pay $65 million in cash for all of the outstanding shares of Fieldstone Mortgage Company. The transaction is expected to close in the first quarter of 2008.
Fieldstone Investment Corporation is a real estate investment trust that invests in residential mortgage loans and other real estate-related assets. The company is headquartered in Boston, Massachusetts.
This acquisition by C-BASS will help the company expand its servicing and securitization businesses. In addition, C-BASS will gain access to Fieldstone’s nationwide origination platform. The acquisition is expected to be accretive to C-BASS’s earnings per share within the first year after closing.
We all know the old saying, “if it ain’t broke, don’t fix it.” But apparently, someone didn’t get the memo when they bought Fieldstone Mortgage Company.
Who bought Fieldstone Mortgage Company?
In July 2009, National City Mortgage, a subsidiary of National City Corp., agreed to sell Fieldstone Mortgage Co. to New Residential Investment Corp. for $64 million. The deal was completed in October 2009.
What does this mean for Fieldstone’s customers?
This is an important question for Fieldstone’s customers, as the company’s new owner may make changes that could affect them. For example, the new owner may choose to discontinue certain products or services, or raise prices. However, it’s also possible that the new owner will make improvements that benefit customers, such as increasing the company’s available resources or expanding its product offerings. In any case, it’s important for Fieldstone’s customers to stay informed about developments at the company so they can make the best decisions for themselves.
How did Fieldstone Mortgage Company get started?
Fieldstone Mortgage Company started as a one-man operation in Maryland in 1999. Today, the company is a licensed mortgage broker in Virginia, Washington D.C., Pennsylvania, and Florida. Fieldstone Mortgage Company offers a wide variety of home loan products to meet the needs of any borrower, including: conventional loans, jumbo loans, government-backed loans like FHA and VA loans, and more.
What are some of Fieldstone’s most popular products?
Fieldstone offers a wide range of mortgage products to meet the needs of borrowers in all stages of life. Some of their most popular products include:
-Conventional Fixed-Rate Mortgages: These mortgages have a fixed interest rate for the life of the loan, so your monthly payments will never change. They are available in terms of 15, 20, or 30 years.
-FHA Loans: These loans are insured by the Federal Housing Administration and are available to borrowers with a credit score as low as 580. They come with a lower down payment requirement than conventional loans and can be a good option for first-time homebuyers.
-VA Loans: VA Loans are available to eligible veterans and active duty service members. They come with no down payment requirement and no private mortgage insurance premium, making them an affordable option for those who qualify.
– Adjustable-Rate Mortgages: Adjustable-rate mortgages have an interest rate that can change over time, so your monthly payments may go up or down depending on market conditions. They typically start with a lower interest rate than fixed-rate mortgages, but they come with the risk that your payments could increase in the future.
What are some of Fieldstone’s most popular services?
Fieldstone Mortgage Company is a national provider of mortgage banking services. Founded in 1985, Fieldstone is licensed to lend in 42 states and the District of Columbia. Headquartered in Bethesda, Maryland, Fieldstone has more than 500 employees and branches in 19 states.
Fieldstone’s services include pre-qualification, origination, processing, underwriting and closing of mortgage loans for homebuyers and refinancing homeowners. The company also provides construction financing for builders and developers, as well as commercial real estate financing for businesses.
What are some of Fieldstone’s most popular features?
Fieldstone is known for a few different things, most notably their low mortgage rates and their customer service.fieldstone offers some of the lowest mortgage rates in the industry, and they are also known for their excellent customer service.
What are some of Fieldstone’s most popular benefits?
Fieldstone offers a comprehensive benefits package to all of its employees. Some of the most popular benefits include:
-Paid time off
-Retirement savings plan
-Employee assistance program
What are some of Fieldstone’s most popular advantages?
Fieldstone offers a variety of programs to fit the needs of homebuyers, including:
-Conventional loans with as little as 3% down
-FHA loans with as little as 3.5% down
-VA Loans with no down payment required
-USDA rural development loans with no down payment required
What are some of Fieldstone’s most popular disadvantages?
Fieldstone has been bought by a few different companies over the years, most recently by Ditech in 2015. Some of the most common complaints about Fieldstone include:
-H difficult to work with and unyielding in negotiations
-Slow to react to changed circumstances
-Fees and charges that are not always transparent
-Customer service that is often unresponsive or unhelpful
While Fieldstone has its disadvantages, it is still a popular choice for many borrowers. If you are considering using Fieldstone for your mortgage, be sure to compare them with other lenders to get the best deal possible.
What are some of Fieldstone’s most popular pros and cons?
Fieldstone Mortgage Company was a subprime mortgage lender that was headquartered in Columbia, Maryland. The company was founded in 1999 and offered home loans to borrowers with poor credit histories.
Fieldstone became one of the largest subprime lenders in the country, and at its peak, it had more than 60 branches in 20 states.
The company hit hard times in 2007 when the subprime mortgage market began to collapse. In 2008, Fieldstone declared bankruptcy and was sold to New Century Financial Corporation.