Ok - We have had Freddie Mac and McDonald's Big Mac, but now there's Penny Mac.
Apparently the private company (Private National Mortgage Acceptance Co - Penny Mac) was formed to purchase the recent shaky mortgage loans from other lenders as well as credit card and auto loans.
Now the big question is "Will they be treated a a mortgage company-servicer, or a debt collector?" for regulatory purposes.
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them.
No comments:
Post a Comment