Interest Rate Markets July 31, 2010
→ `five Smart Reasons to Buy a Home Now`
The economy is stabilizing. Home prices are holding. It's not just as good a time as ever to buy a house. It's one of the best times ever. -- Total Choice Realty, Inc.,Joanne Cleaver,Chicago 07/31/2010
→ Freddie Mac Will Not Issue a Reference Notes® Security on July 29, 2010
Freddie Mac (OTC Bulletin Board: FMCC) announced today that it will not issue a Reference Notes® security on July 29, 2010. The company's 2010 Reference Notes calendar designates dates that it may use to announce the issuance of Reference Notes securities. -- Freddie Mac,Michael Cosgrove,Mclean Va. 07/31/2010
→ Bankrate: Mortgage Rates Reset Record Lows
Mortgage rates were lower this week, with the average conforming 30-year fixed mortgage rate hitting a record low of 4.71 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.44 discount and origination points. -- Bankrate.com,Kayleen Yates,New York 07/31/2010
→ Credit News From Premier by Louis S. Barnes July 30, 2010
The end of July usually marks the quietest time of the year for markets. Big-shot bankers are away from trading desks, loading up for August in the Hamptons -- in the old days to kick sand at 98-pound weaklings, today to compete for most-obnoxious conduct on a beach with a cell phone. -- Premier Mortgage Group, Inc,Lou Barnes,Boulder Co 07/30/2010
→ Alliancebernstein Income Fund Releases Monthly Portfolio Update
AllianceBernstein Income Fund, Inc. (NYSE:ACG) (the "Fund") today released its monthly portfolio update as of June 30, 2010. -- AllianceBernstein Income Fund, Inc.,Shareholder Contact,New York 07/29/2010
→ Lendingtree`s Weekly Mortgage Rate Pulse Reports Rates Remain Stable at Record-Lows
Rates for 30-Year Fixed Mortgages Have Declined Faster Than 15-Year Rates -- LendingTree,Bethany Ciampa,Charlotte N.c. 07/29/2010
→ Gold and Silver Capitulation is Near
The National Inflation Association today released the following statement to its http://inflation.us/ members: -- National Inflation Association,Gerard Adams,Fort Lee N.j. 07/29/2010
→ J.D. Power and Associates Reports: Among Home Buyers, Satisfaction With Real Estate Companies Increases, While Satisfaction Among Home Sellers Decreases Considerably
Keller Williams Ranks Highest in Customer Satisfaction among Home Buyers for a Third Consecutive Year, While Prudential Ranks Highest among Home Sellers -- Perryman of J.D. Power and Associates,,John Tews,Westlake Village Calif. 07/29/2010
→ Ellie MAE Adds PHH Mortgage TO Encompass360ä Select Program
Encompass360 Select program provides automated loan pricing from PHH Mortgage, accessible from directly within the Encompass360 mortgage management software -- Ellie Mae Inc.,Rosalie Berg,Pleasanton California 07/29/2010
→ New Mortgage Industry Association Has Been Formed To Promote Thought Leadership and Innovation
PROGRESS in Lending Association affirms that the status quo is not what’s going to get the -- Progress In Lending,Tony Garritano,WILTON ct 07/28/2010
→ Mortgage Applications Decrease in Latest MBA Weekly Survey
The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending July 23, 2010. The Market Composite Index, a measure of mortgage loan application volume, decreased 4.4 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 4.2 percent compared with the previous week. -- CampusMBA,Melissa Key,Washington District of Columbia 07/28/2010
→ Mortgage Builder and Nylx Integrate Systems to Bring Advanced Pricing and Origination Capabilities to Mortgage Lenders
Alliance brings industry’s most reliable product eligibility and pricing technology to fingertips of Mortgage Builder users -- Mortgage Builder Software Inc,Keven Smith,Southfield Michigan 07/28/2010
→ New Home Prices Continue to be Weak in 2010
While progress is being made in leaving behind the worst residential real estate bear market in 68 years, this improvement is moving at a glacial pace. -- Winans International,Liz Boaz,Novato Calif. 07/28/2010
→ Unintended Consequences of Refinancing With Respect to Life Insurance Coverage
While the past couple years have created financial havoc for millions of Americans -- foreclosures, 10 percent unemployment and manic-depressive financial markets -- there has been a silver lining for millions of others: Mortgage interest rates. Rates have plummeted to historic lows and millions of homeowners have refinanced, often saving hundreds of dollars per month in the process. With such savings, they're paying off credit cards and increasing their savings. -- IntelliQuote,Jennifer Bulotti,El Dorado Hills Calif. 07/28/2010
→ 2010 Niobrara Oil Lease Rush Draws Oil and Gas Companies From Around the U.S. to Northern Colorado, Where the Nation`s Largest Block of Residential Building Lots Is Currently on the Market
Harrison Resource Corporation is offering a 9,200-lot, 4,587-acre $173 million land portfolio in the very area of Colorado where oil and gas companies from across the country are rushing to lease thousands of acres of land for as much as $3,200 an acre. -- Harrison Resource Corporation,Craig Harrison,Denver 07/28/2010
→ Fannie Mae Announces Semiannual Multifamily Investment Volumes
Fannie Mae (OTC Bulletin Board: FNMA) today announced that the company, through its lender and housing partners, provided $5.9 billion in investment to the multifamily rental housing market for the first half of 2010. -- HomePath,Heather Baker,Washington 07/28/2010
→ Icici Bank UK Wins the Your Money Awards for `best Online Savings Provider 2010`
ICICI Bank UK Plc has won the Your Money Direct Awards 2010 for 'Best Online Savings provider 2010' for its HiSave product range. -- ICICI Bank UK PLC,Lisa Donohue,London 07/28/2010
→ Suntrust Commences Tender Offer for $750 Million of Existing Debt Securities
SunTrust Banks, Inc. (NYSE: STI) announced today that SunTrust Bank has commenced a cash tender offer (the "Tender Offer") to purchase up to $750,000,000 aggregate principal amount (the "Maximum Tender Amount") of certain of its currently outstanding subordinated debt securities (the "Notes"). -- Suntrust Mortgage, Inc.,Steve Shriner,Atlanta 07/27/2010
→ With a Looming Shortage of Financial Advisors, Succession Planning Is a High Priority for Industry
Genworth Taps Matthew Matrisian for Expertise in Building Transferable Advisor Businesses -- Genworth Financial Inc.,Tom Topinka,Richmond Va. 07/27/2010
→ Pembrook Capital Management Provides $47.1 Million Loan
PCM provides $47.1 million of financing for landmark Jean Nouvel designed Manhattan condominiums -- Pembrook Capital Management, LLC,John Garth,New York 07/26/2010
→ Iberiabank Corporation Announces Fifth Fdic-Assisted Acquisition
IBERIABANK (www.iberiabank.com), the 123-year old subsidiary of IBERIABANK Corporation (NASDAQ:IBKC) , announced that it has entered into a purchase and assumption agreement with loss share arrangements with the Federal Deposit Insurance Corporation ("FDIC") to purchase certain assets and to assume certain deposits and other liabilities of Sterling Bank, a full service Florida-chartered commercial bank headquartered in Lantana. Based on available information as of March 31, 2010, Sterling reported: -- IBERIABANK,John R. Davis,Lafayette La. 07/26/2010
→ Southside Bancshares, Inc. Announces Net Income for the Three and Six Months Ended June 30, 2010
NASDAQ Global Select Market Symbol - 'SBSI' -- ,System Admin,Tyler Texas 07/26/2010
→ Union First Market Bankshares to Present at Kbw`s 11th Annual Community Bank Investor Conference on July 27, 2010
Union First Market Bankshares Corporation (NASDAQ:UBSH) announced that G. William Beale, CEO and D. Anthony Peay, EVP & CFO of Union First Market Bankshares Corporation, will be presenting at the Keefe, Bruyette & Woods (KBW) 11th Annual Community Bank Investor Conference at the Waldorf Astoria, in New York City on Tuesday, July 27, 2010. The presentation is scheduled for approximately 3:00 p.m. Eastern Daylight Time. -- Union Bankshares,D. Anthony Peay,Richmond Va. 07/24/2010
→ Twin Cities Commercial Real Estate Activity Improves Despite Weak Market Fundamentals
NorthMarq's 2010 Mid-Year 'Compass Report' on State of Twin Cities Market Released Today -- NorthMarq,Martha Nevanen,Minneapolis 07/23/2010
→ Florida`s Existing Home, Condo Sales Rise in June 2010
Sales of existing homes in Florida rose 15 percent in June, marking 22 consecutive months that sales activity has increased in the year-to-year comparison, according to the latest housing data released by Florida Realtors®. -- Florida Realtors,Marla Martin,Orlando Fla. 07/23/2010
→ Illinois Home Sales Up 10 Months in a Row, Chicago Region a Full Year
Statewide Home Prices Stabilizing -- Illinois Association of REALTORS,Mary Schaefer,Springfield Ill. 07/23/2010
→ Bankrate: Mortgage Rates Revisit Record Lows
Mortgage rates declined this week, with the average conforming 30-year fixed mortgage rate tying a record low of 4.74 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.39 discount and origination points. -- Bankrate.com,Kayleen Yates,New York 07/23/2010
→ Credit News From Premier By Louis S. Barnes July 23, 2010
One line in Perfesser Bernanke's testimony dominated the week, but in an odd way: it was an anti-forecast. "Uncertainty about the outlook for growth and unemployment... greater than normal...." -- Premier Mortgage Group, Inc,Lou Barnes,Boulder Co 07/23/2010
→ Monarch Financial Reports Record Profitability and Strong Asset Growth
Monarch Financial Holdings, Inc. (NASDAQ:MNRK) , the bank holding company for Monarch Bank, reported the best quarterly profits in the company's history, along with strong asset and deposit growth, and improving asset quality. Second quarter 2010 highlights are: -- Monarch Financial Holdings, Inc.,Brad E. Schwartz,Chesapeake Va. 07/21/2010
→ Lendingtree Weekly Mortgage Rate Pulse Reports Record-Breaking Low Rates
Current Coupon Drops to 3.51% -- LendingTree,Bethany Ciampa,Charlotte N.c. 07/21/2010
→ Growth Expectations Shifting Down According to Fannie Mae`s Economics & Mortgage Market Analysis Group
External and Internal Fundamentals Signal Lower Growth for 2010 Economic Outlook Podcast Available -- HomePath,Pete Bakel,Washington 07/21/2010
→ Winner Chosen for Peter L. Bernstein Award
Joseph R. Prendergast has been chosen as the winner of the Peter L. Bernstein Award for his paper that offers striking new insights, using creative statistical analysis, into the factors that affected capital markets during the financial crisis. The paper, "Fundamental, Flight-to-Quality, and Flight-to-Liquidity Components in Subprime Mortgage-Backed Security Returns," appeared in the Summer 2009 issue of The Journal of Fixed Income (www.iijfi.com) published by Institutional Investor, Inc., Journals Division (www.iijournals.com). -- The Journal of Portfolio Management,Andrew O'Donnell,New York 07/21/2010
→ S&P Valuation and Risk Strategies Expands Cross-Asset Class Price Evaluation Research Capabilities on its Global Credit Portal
Independent Pricing Evaluation Data, Market-Based Assumptions and Related Market and Regulatory Data Now Searchable Across Fixed Income and Structured Finance Asset Classes -- Standard & Poor`s,Michael Privitera,New York 07/21/2010
→ Financial Trust Index Reaches All Time High at 26%
All components measured show increase in trust, including large corporations -- Kellogg School of Management,Meg Washburn,Chicago 07/21/2010
→ LBC Credit Partners Provides a $42.5 Million One-Stop Facility for Mcmc Llc, a Leading Managed Care and Cost Containment Company
LBC Credit Partners, a leading provider of financing solutions to middle market companies, today announced the funding of a $42.5 million one-stop facility to support the refinancing of MCMC LLC, a diversified managed care and cost containment provider primarily servicing insurance companies, third party administrators, self insured employers and governmental agencies. -- LBC Credit Partners,John Brignola,Philadelphia 07/21/2010
→ Wyncrest Group to Expand Strategically in Property and Casualty Line
Wyncrest Group, Inc. (Pink Sheets: WNCG), a growing financial services organization, has added a new expanded direction to its Property and Casualty Company, Atlantis Financial Group, Inc. Wyncrest Group has aggressively entered this market in 2010 and continues to execute its strategic plan by expanding Atlantis Financial Group, Inc. to now address Commercial Markets. Wyncrest Group believes it will be able to continue to create sales and marketing synergies between its portfolio of subsidiary companies. -- Wyncrest Group, Inc.,Investor Relations,Palos Park Ill. 07/21/2010
→ Appraisal Institute Praises Senate for Passage of Financial Regulatory Reform Bill
The Appraisal Institute, the nation’s largest professional organization of real estate appraisers, today applauded the U.S. Senate for passing a sweeping financial regulatory reform bill that includes the first modernization of real estate appraisal regulations in more than 20 years. -- Appraisal Institute,Ken Chitester,Chicago Illinois 07/21/2010
→ Extending Unemployment Benefits Will Increase Unemployment, Hurt Economy
The Senate today approved an extension of federal unemployment benefits to a maximum of 99 weeks. This move is likely to create unintended negative consequences which will have effects throughout the economy. -- Competitive Enterprise Institute,Richard Morrison,Washington Dc 07/21/2010
→ China HGS Provides Updates on Hanzhong Real Estate Projects and Reaffirms 2010 Outlook
China HGS Real Estate Inc. (OTC:CAHS) (BULLETIN BOARD: CAHS) ("China HGS" or "the Company"), a leading residential property developer in Hanzhong, China, today provided updates on the Company's Ming Zhu Xin Ju Project ("Xin Ju"), Ming Zhu Nan Yuan Project Phase II and Phase III, and Yang Zhou Ming Zhu Project ("Yang Zhou"), all located in Shaanxi Province, China. -- China HGS Real Estate Inc.,Mr. Ran Xiong,Hanzhong China 07/20/2010
→ Fraud Breaks Gbp1bn Barrier in 6 Months
The growth of fraud in the UK continues unabated according to BDO LLP's six monthly update on reported fraud. For the first six months of this year fraud losses rocketed to GBP1.06bn and eclipsed previous half-year figures, and were almost the same as for the whole of 2008. -- BDO LLP,System Admin,London 07/20/2010
→ Rightmove Forecasts Second Half of the Year Price Falls to Wipe Out First Half Gains
The Rightmove House Price Index for July records that the average asking price for a property in the UK is currently 236,332 pounds Sterling, a drop of -0.6% on June figures. -- Rightmove,Tom McGuigan,London 07/20/2010
→ Suntrust Completes Strategic Review of Ridgeworth Capital Management
Federated Investors, Inc. to Acquire $17 Billion in Managed Liquidity Assets -- Suntrust Mortgage, Inc.,Michael McCoy,Atlanta 07/19/2010
→ Nationwide Commercial Property Financing 45 days Funding
Purchase, Refinance, Construction, Rebabilitation -- Atlantic Equity Partners LLC.,Reginald Ollison,nationwide all 07/19/2010
→ Project Funding Monetized JP Morgan CD Program
This process is to secure a Leased CD from Chase Manhattan with a Face Amount of $100,000,000 dollars (One Hundred Million USD). -- Atlantic Equity Partners LLC.,Reginald Ollison,Raleigh North Carolina 07/19/2010
→ Proof Of Funds Escrow or Bank Account For Real Estate Transactions
Proof of funds supporting a commitment to fund your transaction. Some common uses of the service are the following: -- Atlantic Equity Partners LLC.,Reginald Ollison,Raleigh NC 07/19/2010
→ CD Leased Instrument Program Project Funding
Project Funding -- Atlantic Equity Partners LLC.,Reginald Ollison,Raleigh NC 07/18/2010
→ Care Investment Trust Inc. Announces Self-Tender Offer
Care Investment Trust Inc. (NYSE:CRE) ("Care" or the "Company"), a real estate investment and finance company investing in healthcare-related real estate and commercial mortgage debt, today announced the commencement of a tender offer to purchase up to 100% of its currently issued and outstanding common stock at a price of $9.00 per share subject to a minimum subscription of 10,300,000 shares and certain other conditions. -- Care Investment Trust Inc.,Torey Riso,New York 07/16/2010
→ Parking Rates Defy Other Real Estate Market Segments
North American Garage Operators Hold the Line on Rates -- Colliers International,Richard Mulieri,Seattle 07/15/2010