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Delta Financial Corporation
Delta Funding Corporation (abbreviated to DFC) was a specialty consumer finance company that originated, securitized and sold non-conforming mortgage loans. History DFC was incorporated in 1996 as a ''Delaware corporation''. DFC was a sub-prime lender focused on lending to individuals who generally do not satisfy the credit, documentation or other underwriting standards set by more traditional sources of mortgage credit, including those entities that make loans in compliance with the conforming lending guidelines of Fannie Mae and Freddie Mac. In 2006, DFC originated $4.0 billion of loans; in 2005 it originated $3.8 billion. A substantial amount of these loans were obtained through telemarketing. Bankruptcy On December 17, 2007, DFC and its operating subsidiaries Delta Funding Corporation, Renaissance Mortgage Acceptance Corporation and Renaissance REIT Investment Corporation, filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code with the United Sta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Woodbury, Nassau County, New York
Woodbury is a hamlet and census-designated place (CDP) located within the Town of Oyster Bay in Nassau County, on Long Island, in New York, United States. The population was 9,335 at the 2020 census. Woodbury borders Laurel Hollow to the north, Plainview to the south, Syosset to the west, and Cold Spring Harbor, West Hills and South Huntington to the east. Woodbury is located approximately 35 miles (57 km) east of Midtown Manhattan. Geography According to the United States Census Bureau, the CDP has a total area of , of which 0.32% is water. The ZIP Code of the Woodbury Post Office is 11797. Demographics As of the census of 2000, there were 9,010 people, 2,851 households, and 2,297 families residing in the CDP. The population density was . There were 2,895 housing units at an average density of . The racial makeup of the CDP was 90.87% White, 0.98% African American, 0.06% Native American, 7.06% Asian, 0.01% Pacific Islander, 0.28% from other races, and 0.75% fr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Non-conforming Mortgage
A non-conforming mortgage is a term in the United States for a residential mortgage that does not conform to the loan purchasing guidelines set by the Federal National Mortgage Association /Federal Home Loan Mortgage Corporation (Fannie Mae and Freddie Mac). Mortgages which are non-conforming because they have a dollar amount over the purchasing limit set by FNMA/FHLMC are often called "jumbo" mortgages. Mortgages which are non-conforming because they do not meet FNMA/FHLMC underwriting guidelines (such as credit quality or loan-to-value ratio) are sometimes mistakenly called "subprime" mortgages. Non-conforming loans must remain in a lender's portfolio, or be sold to other companies who purchase non-conforming loans, or be securitized, with the securities being sold to investors seeking non-conforming mortgage-backed securities. Consequently, a premium Premium may refer to: Marketing * Premium (marketing), a promotional item that can be received for a small fee when redeeming pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fannie Mae
The Federal National Mortgage Association (FNMA), commonly known as Fannie Mae, is a United States government-sponsored enterprise (GSE) and, since 1968, a publicly traded company. Founded in 1938 during the Great Depression as part of the New Deal, the corporation's purpose is to expand the secondary mortgage market by securitization, securitizing mortgage loans in the form of mortgage-backed security, mortgage-backed securities (MBS), allowing lenders to reinvest their assets into more lending and in effect increasing the number of lenders in the mortgage market by reducing the reliance on locally based savings and loan associations (or "thrifts"). Its brother organization is the Federal Home Loan Mortgage Corporation (FHLMC), better known as Freddie Mac. In 2024, with over $4.3 trillion in assets, Fannie Mae is the largest company in the United States and the fifth largest company in the world, by assets. Fannie Mae was ranked number 27 on the Fortune 500, ''Fortune'' 50 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States
The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 contiguous states border Canada to the north and Mexico to the south, with the semi-exclave of Alaska in the northwest and the archipelago of Hawaii in the Pacific Ocean. The United States asserts sovereignty over five Territories of the United States, major island territories and United States Minor Outlying Islands, various uninhabited islands in Oceania and the Caribbean. It is a megadiverse country, with the world's List of countries and dependencies by area, third-largest land area and List of countries and dependencies by population, third-largest population, exceeding 340 million. Its three Metropolitan statistical areas by population, largest metropolitan areas are New York metropolitan area, New York, Greater Los Angeles, Los Angel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Services Companies Established In 1996
Finance refers to monetary resources and to the study and discipline of money, currency, assets and liabilities. As a subject of study, is a field of Business Administration wich study the planning, organizing, leading, and controlling of an organization's resources to achieve its goals. Based on the scope of financial activities in financial systems, the discipline can be divided into personal, corporate, and public finance. In these financial systems, assets are bought, sold, or traded as financial instruments, such as currencies, loans, bonds, shares, stocks, options, futures, etc. Assets can also be banked, invested, and insured to maximize value and minimize loss. In practice, risks are always present in any financial action and entities. Due to its wide scope, a broad range of subfields exists within finance. Asset-, money-, risk- and investment management aim to maximize value and minimize volatility. Financial analysis assesses the viability, stability, and pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Services Companies Of The United States
Finance refers to monetary resources and to the study and discipline of money, currency, assets and liabilities. As a subject of study, is a field of Business Administration wich study the planning, organizing, leading, and controlling of an organization's resources to achieve its goals. Based on the scope of financial activities in financial systems, the discipline can be divided into personal, corporate, and public finance. In these financial systems, assets are bought, sold, or traded as financial instruments, such as currencies, loans, bonds, shares, stocks, options, futures, etc. Assets can also be banked, invested, and insured to maximize value and minimize loss. In practice, risks are always present in any financial action and entities. Due to its wide scope, a broad range of subfields exists within finance. Asset-, money-, risk- and investment management aim to maximize value and minimize volatility. Financial analysis assesses the viability, stabil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Companies Based In New York (state)
A company, abbreviated as co., is a legal entity representing an association of legal people, whether natural, juridical or a mixture of both, with a specific objective. Company members share a common purpose and unite to achieve specific, declared goals. Over time, companies have evolved to have the following features: "separate legal personality, limited liability, transferable shares, investor ownership, and a managerial hierarchy". The company, as an entity, was created by the state which granted the privilege of incorporation. Companies take various forms, such as: * voluntary associations, which may include nonprofit organizations * business entities, whose aim is to generate sales, revenue, and profit * financial entities and banks * programs or educational institutions A company can be created as a legal person so that the company itself has limited liability as members perform or fail to discharge their duties according to the publicly declared incorporati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1996 Establishments In New York (state)
1996 was designated as: * International Year for the Eradication of Poverty Events January * January 8 – A Zaire Zaire, officially the Republic of Zaire, was the name of the Democratic Republic of the Congo from 1971 to 18 May 1997. Located in Central Africa, it was, by area, the third-largest country in Africa after Sudan and Algeria, and the 11th-la ...an cargo plane 1996 Air Africa crash, crashes into a crowded market in the center of the capital city of the Democratic Republic of the Congo, Kinshasa, killing around 300 people. * January 9–January 20, 20 – Serious fighting breaks out between Russian soldiers and rebel fighters in Chechnya. * January 11 – Ryutaro Hashimoto, leader of the Liberal Democratic Party (Japan), Liberal Democratic Party, becomes Prime Minister of Japan. * January 13 – Prime Minister of Italy, Italy's Prime Minister, Lamberto Dini, resigns after the failure of all-party talks to confirm him. New talks are initia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1996 Establishments In The United States
1996 was designated as: * International Year for the Eradication of Poverty Events January * January 8 – A Zairean cargo plane crashes into a crowded market in the center of the capital city of the Democratic Republic of the Congo, Kinshasa, killing around 300 people. * January 9– 20 – Serious fighting breaks out between Russian soldiers and rebel fighters in Chechnya. * January 11 – Ryutaro Hashimoto, leader of the Liberal Democratic Party, becomes Prime Minister of Japan. * January 13 – Italy's Prime Minister, Lamberto Dini, resigns after the failure of all-party talks to confirm him. New talks are initiated by President Oscar Luigi Scalfaro to form a new government. * January 14 – Jorge Sampaio is elected President of Portugal. * January 16 – President of Sierra Leone Valentine Strasser is deposed by the chief of defence, Julius Maada Bio. Bio promises to restore power following elections scheduled for February. * January 19 ** ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
