Own Sweet Own: Detroit Home Mortgage
Thanks to funding support from the Kresge Foundation, the Ford Foundation, Michigan State Housing Development Authority and Huntington, FirstMerit, Flagstar, Talmer and Liberty Banks, CRF was able to launch Detroit Home Mortgage. Read below to find out how it will help increase home ownership in the city of Detroit.
As part of its Q1 earnings press release, the board of directors of Lending Club announced last week that it had accepted the resignation of Renaud Laplanche as Chairman and CEO following an internal review of sales of $22 million in near-prime loans to a single investor. This announcement also presented the company’s first quarter earnings reports, which showed Lending Club stock earning $0.01 per share, less than the $0.05 that was projected, but still a modest $4.1M contribution toward Net Income (up from a loss of $6.4M for the same period last year). This past Monday, after the markets opened, shares of the company were down as much as 26%.