Ideal Mortgage Bankers, Ltd. (Company), one of the country’s fastest growing FHA lenders, announced today that it would exit the wholesale lending business, which operates under the name Ideal Mortgage, to concentrate on expanding Lend America its rapidly growing retail lending platform. The Company joins a growing list of banks and mortgage companies to abandon [...]
The number of new mortgages approved for house purchases has fallen to its lowest level since current records started, Bank of England figures show. The number of home loans approved in June fell to 36,000, down from 41,000 in May, as the slowdown continued. The increase in total mortgage lending was also lower than many [...]
Mortgage insurers require higher credit scores and bigger down payments than they did a month or two ago. Underwriting software used by brokers and loan officers is issuing fewer approvals than at the end of May. Most buyers can still get home loans, but some find themselves pushed out of the private mortgage insurance, or [...]
It’s easy to get caught up in the hype of investing. There’s the scramble for information, monitoring share and unit prices, trying to discern the nuances behind every Reserve Bank statement on the economy, watching the performance of the markets. Management of your investments requires constant vigilance and occasional frantic activity. But perhaps, now and [...]
Another high yield mortgage style trust has gone down the gurgler, threatening $300 million of investors’ funds. Australian Capital Reserve (ACR) offered its mostly elderly investors aggressive rates of returns on investments that it then lent on to other companies to invest in residential property developments. Investors have been told that all their investments are [...]
Demand for industrial commodities from countries such as China and India is still accelerating, but may not be sustainable, independent forecaster Access Economics says. “But stronger for longer does not mean stronger forever,” Access director Chris Richardson warns. “The short-term outlook is now so sweet that it risks being unsustainable.”
And any subsequent downturn in commodity [...]
After months of searching for ways to defend its oft-maligned Windows operating system, Microsoft may just have found its best weapon: Vista’s skeptics. Spurred by an e-mail from someone deep in the marketing ranks, Microsoft last week traveled to San Francisco, rounding up Windows XP users who had negative impressions of Vista. The subjects were [...]
AOL is scrapping some online destinations but will push others harder in an attempt to improve its finances, according to internal memos. Among those products to be shuttered are Bluestring, a site to share videos, music, and photos; Xdrive, a general-purpose online storage service; and AOL Pictures, where people could store and share photos, according [...]
Real estate professionals have, for decades, benefited from a major advantage: Information asymmetry. REALTORS? (which is how the National Association of Realtors insists on writing the word) were the ones with the market data and the expertise in navigating the processes involved in the acquisition and disposal of property.
But with the rise of the ‘Net [...]
For as long as some have been talking about “The Year of the Linux Desktop,” I’ve been hearing the same thing about “The Year of Embedded Linux.” My first open-source company was Lineo, an embedded-Linux vendor. I used to preach the gospel of embedded/mobile Linux.
But its “year” never came. As with Godot, we’re always waiting [...]
