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Bank of New York Mellon Corporation Sued By Knights of Columbus

Bank of New York Mellon Corp (NYSE:BK) is being targeted for allegedly violating state law while representing mortgage-bond investors, was accused ...

Bank of New York Mellon Corp Boosts Stake in Federal Agricultural Mortgage Corp. (NYSE:AGM)

Bank of New York Mellon Corp grew its stake in Federal Agricultural Mortgage Corp. (NYSE:AGM) by 3.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 70,914 shares of the credit services provider’s stock after buying an additional 2,183 shares during the period. Bank of New York Mellon Corp owned approximately 0.67% of Federal Agricultural Mortgage worth $6,346,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Swiss National Bank raised its holdings in shares of Federal Agricultural Mortgage by 6.8% in the 1st quarter. Swiss National Bank now owns 15,781 shares of the credit services provider’s stock worth $1,373,000 after purchasing an additional 1,000 shares during the period. BlackRock Inc. grew its position in shares of Federal Agricultural Mortgage by 6.9% in the 1st quarter. BlackRock Inc. now owns 863,558 shares of the credit services provider’s stock worth $75,147,000 after acquiring an additional 55,661 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Federal Agricultural Mortgage by 204.8% in the 1st quarter. Russell Investments Group Ltd. now owns 69,778 shares of the credit services provider’s stock worth $6,071,000 after acquiring an additional 46,883 shares in the last quarter. OppenheimerFunds Inc. lifted its holdings in shares of Federal Agricultural Mortgage by 10.8% in the 1st quarter. OppenheimerFunds Inc. now owns 7,857 shares of the credit services provider’s stock worth $684,000 after purchasing an additional 764 shares during the last quarter. Finally, Loomis Sayles & Co. L P lifted its holdings in shares of Federal Agricultural Mortgage by 1.0% in the 1st quarter. Loomis Sayles & Co. L P now owns 135,385 shares of the credit services provider’s stock worth $11,781,000 after purchasing an additional 1,381 shares during the last quarter. 64.23% of the stock is owned by institutional investors.

Bank of New York Mellon (BK) and Investar (ISTR) Critical Comparison

About Investar

Investar Holding Corporation operates as the bank holding company for Investar Bank that provides a range of commercial banking products for individuals and small to medium-sized businesses in South Louisiana. The company offers various deposit products and services, such as savings, checking, money market, NOW, and individual retirement accounts, as well as various certificates of deposit; debit cards; and mobile banking services. It also provides commercial real estate loans; loans for the construction of commercial projects, and single family residential and multifamily properties; commercial and industrial loans, such as working capital lines of credit and equipment loans; consumer loans comprising secured and unsecured installment and term loans, second mortgages, home equity loans and lines of credit, and auto loans, as well as loans for personal, family, and household purposes; and one-to-four family residential real estate loans consisting of second and other second mortgage loans. In addition, the company offers cash management products, including remote deposit capture, electronic statements, positive pay, ACH origination and wire transfer, investment sweep accounts, and business Internet banking services. Further, it provides various other banking services, such as cashiers' checks, direct deposit of payroll and social security checks, night depository, bank-by-mail, automated teller machine, and merchant card services. The company operates through a network of 20 full service branches. Investar Holding Corporation was founded in 2006 and is headquartered in Baton Rouge, Louisiana.

Emergency Economic Stabilization Act. Failed?

First, the $700 billion rescue for the economy was about buying devalued mortgage-backed securities from tottering banks to unclog frozen credit markets.

Then it was about using $250 billion of it to buy stakes in banks.


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