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ECC Capital Corporation Completes $1 Billion Asset-Backed ...
IRVINE, Calif., Aug. 3 /PRNewswire-FirstCall/ -- ECC Capital Corporation (NYSE: ECR - News), a mortgage finance real estate investment trust that originates and invests in residential mortgage loans, announced today the successful sale of the notes from the BMAT Mortgage Asset NIM Trust, Series 2006-1. The sale represents the completion of the Bravo Mortgage Asset Trust 2006-1 securitization. The BMAT 2006-1 securitization was a private placement transaction with an initial closing on May 12, 2006 and subsequent prefundings on June 7 and June 30, 2006. The BMAT 2006-1 certificates are backed by a pool of approximately $1.058 billion of fixed and adjustable rate, subprime mortgage loans secured by first and second liens on one-to-four family residential properties transferred to the trust in the securitization.
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Auditor seeks details on Oakhill purchase
YOUNGSTOWN Mahoning County Auditor Michael V. Sciortino has told the county commissioners he needs more information before he can verify that money is available to pay for Oakhill Renaissance Place.
"I need to obtain information regarding all financial obligations the county will incur in connection with the building," and not just the $75,000 purchase price, Sciortino wrote Thursday in response to the commissioners' request that he certify that amount for purchase of the building.
Last week, U.S. Bankruptcy Judge Kay Woods approved the sale of the Oakhill building to the county for $75,000, with the county agreeing to assume all liens and mortgages on the building.
The liens listed in bankruptcy court documents are a $400,000 real estate tax bill, a $100,000 loan from Chase Bank, a $430,000 second mortgage to the Ohio Department of Development and an $8,000 mechanic's lien from Innerscope Technical Services.