california equity home loan mortgage

Fitch Affirms GreenPoint Mortgage's Alt-A and HE/HELOC Resi ...

NEW YORK--(BUSINESS WIRE)--July 12, 2006--Fitch Ratings affirms GreenPoint Mortgage Funding Inc.'s (GPM) residential primary servicer ratings for Alt-A and home equity/home equity lines of credit (HE/HELOC) loans at 'RPS2'. The ratings are based on the company's experienced management team, established technology, and expanded training programs. The ratings also reflect the financial strength of GPM's parent, North Fork Bancorporation (North Fork), which is rated 'A-', Rating Watch Negative by Fitch.

Headquartered in Novato, California, GPM is a wholly owned subsidiary of North Fork Bank, a regional bank holding company. North Fork conducts commercial and retail banking from 358 branches throughout the New York metropolitan area, Connecticut and New Jersey and is headquartered in New York.

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NY group challenges Golden West deal

A New York community group has filed a challenge to Wachovia Corp.'s proposed $25.5 billion purchase of Golden West Financial Corp.

In a 15-page filing with the Federal Reserve Board, Fair Finance Watch contends the planned merger may result in higher prices for consumers. The filing also questions Wachovia's lending record and mortgage data, "including disproportionately confining people of color to higher-cost loans."

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