Over the past few years, homeownership levels have been at an all-time high in virtually every racial, income and geographical category, according to Cambridge, Massachusetts-based Harvard University's Joint Center for Housing Studies and the Department of Housing and Urban Development HUD. There are more loan programs than ever, opening...
The ideal time to market homeowners insurance and mortgage life and disability coverage to homebuyers is before they close the deal. Cross-selling to new mortgage customers has the potential to generate billions of dollars in insurance premiums. It's a sleeping giant that a few...
Capital America has decided to stop originating "buy-up" loans. The product, which was introduced by the firm earlier this year, became mired in controversy because the proceeds given to the borrower exceed the face amount of the note. Capital America contended that the complex product was...
Traditionally, there is nothing unusual about parents lending a hand to their children when they want to buy their first home. But if the help comes in the form of a guarantor mortgage, they would do well to tread carefully. The economic backdrop of falling house prices and rising unemployment...
Stan J. Liebowitz says that relaxed underwriting standards led to the housing bubble ("Anatomy of a Train Wreck," Oct. 20), and he is correct. I saw the change from within the industry: I worked for Herb and Marion Sandler's World Savings and Loan from 1994 to 1998. World Savings was...
A Carle Place mortgage lender is being sued by federal prosecutors in Brooklyn for allegedly manipulating application forms for $4 million worth of mortgage loans. The lawsuit says Madison Home Equities and its president, Nadine Malone, intentionally provided false information on applications for 12 Federal Housing Administration...
The Bond Buyer, SourceMedia's daily newspaperof municipal finance, and the Regional Bond Dealers Association todayannounced they will co-sponsor a first-of-its-kind National Municipal BondSummit at the Eden Roc Hotel in Miami on February 19-20, 2009. The event will bring together all sectors of the market -- frombroker-dealers specializing in underwriting, selling...
COSTA MESA, Calif., Oct. 13 /PRNewswire/ -- PriceMyLoan PML today announced the release of an integration to Freddie Mac's Loan Prospector automated underwriting system. The integration allows originators to obtain decisions from Loan Prospector from within the PML system. PML is an automated eligibility and pricing...
CHICAGO -- Fitch Ratings assigns an 'AAA' rating to New Jersey Environmental Infrastructure Trust's NJEIT $139.1 million environmental infrastructure bonds, series 2008A. The bonds are scheduled to sell competitively on October 29. Bond proceeds will be used to fund loans to eligible public and private borrowers throughout New Jersey. In...
The market chaos has left no top investment bank standing. Of the Big Five, Lehman, Bear and Merrill are gone, while Morgan Stanley and Goldman are becoming commercial banks, which means they can no longer put up the house to borrow billions for high-stakes deals. They’ll have to chop their...
WASHINGTON, Oct. 2 /PRNewswire-FirstCall/ -- Fannie Mae today announced that it would cancel the planned increase in its adverse market delivery charge. The 25-basis point (0.25 percent) increase was scheduled to go into effect for whole loan purchases and mortgage loans delivered into MBS with issue dates on...
ROCKVILLE, Md. -- Washington Real Estate Investment Trust WRIT (NYSE:WRE) announced that following its recently announced public offering of 1.5 million common shares, the underwriters exercised in full the over-allotment option to purchase an additional 225,000 common shares of beneficial interest from WRIT at the public offering price of $35.00...
INDIANAPOLIS -- Kite Realty Group Trust (NYSE: KRG) (the "Company") announced today that it plans to sell 3,000,000 common shares of beneficial interest in an underwritten public offering. The Company also plans to grant the underwriters a 30-day option to purchase up to an additional 450,000 common shares to cover...
Basic, traditionally underwritten, 30-year fixed-rate mortgages are the most suitable home loans for the majority of low- and moderate-income borrowers, according to an FDIC report. Lenders can make profitable fixed-rate mortgages and other loan products more widely available to such borrowers by adding certain flexible and innovative features, said the...
NEW BRITAIN, Conn., Sept. 29 /PRNewswire-FirstCall/ -- The Stanley Works (the "Company") today announced that it closed its offering of $250 million aggregate principal amount of senior notes due 2013. The notes bear interest at a rate of 6.15% per annum. The price to investors was...
ROCKVILLE, Md. -- Washington Real Estate Investment Trust WRIT (NYSE:WRE) announced today that it plans to offer 1.5 million common shares through an underwritten public offering. WRIT expects to grant the underwriters a 30-day option to purchase an additional 225,000 common shares. The net proceeds of this offering...
FOLSOM, Calif., Sept. 22 /PRNewswire-FirstCall/ -- Waste Connections, Inc. today announced it intends to issue 10 million shares of its common stock in a registered offering. The company also plans to grant the underwriters an option to purchase up to 1.5 million additional shares to cover over-allotments, if...
By now, many economists had projected that the "credit crunch" would have eased. But prospective home buyers -- including those with stable jobs and decent credit -- still confront unusually high hurdles to gain approval on their home-loan applications. "People in the mortgage industry are extremely hungry...
A troubled mortgage market marked by tighter underwriting standards and increased foreclosures has led to a number of alternatives being proposed to traditional mortgages. Among the options: "own-to-lease" programs, "shared appreciation mortgages," and even "rent-to-own." But not everyone is sold on such programs. Another credit union CEO says...
CHARLOTTE, N.C., Sept. 10 /PRNewswire-FirstCall/ -- Cogdell Spencer Inc. announced today that it commenced an underwritten public offering of 1,850,000 shares of common stock. Cogdell Spencer also plans to grant the underwriters an option to purchase up to an additional 277,500 shares of common stock. Banc of...
Articles 2008-09-10
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