First And Second Mortgage
New finance company launched by Equitable Group
A new entrant to the finance industry, Bastion Finance Limited, was launched today by The Equitable Group.
The Equitable Group, which is owned by the Spencer family, currently has in excess of $350 million in funds under management.
Bastion Finance will offer a fixed interest first ranking secured debenture with returns generated primarily from commercial second mortgage property transactions and asset finance transactions on equipment, machinery, and commercial vehicles.
Investment will be made across a number of sectors, including rural, marine, manufacturing, and transport.
“The Equitable Group has had an exemplary record since 1972 of offering a range of investment products which have been secured by quality first mortgages," Bastion Chief Operating Officer, Ross Aitken, said.
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Mortgage Lenders Fund Record Loans - Production News From ...
DALLAS, Aug. 7 /PRNewswire/ -- Several major mortgage bankers originated a record volume of loans, according to second quarter financial data analyzed by MortgageDaily.com, the dominant source of online news for the mortgage industry.
NovaStar Financial Inc. closed $2.8 billion in mortgages during the second quarter -- $1.0 billion more than first quarter. The Kansas City, Mo.-based lender said the latest numbers represented an all-time record. Most of the real estate investment trust's business was delivered by mortgage brokers.
Melville, N.Y.-based American Home Mortgage Investment Corp. also saw all- time high production during the second quarter, with $14.9 billion in fundings. "Our production business experienced record originations, record market share, a strong gain-on-sale margin and improved warehouse income," said CEO Michael Strauss in the earnings statement.