latest News on Mortgage Investment
Investors are worried about mortgage finance company Freddie Mac's plans to shore up its finances. Shares of the McLean, Va.-based company fell nearly 9 percent on Thursday after a report in the Wall Street Journal highlighted concerns about potential trouble with the company's plans to raise $5.5 billion in capital through stock sales.
Mortgage investor Impac Mortgage Holdings Inc. said Thursday it has refinanced an outstanding repurchase financing facility, replacing it with a term loan from UBS Real Estate Securities Inc.
Impac Mortgage Holdings, Inc. , or the "Company" a Maryland corporation, being taxed as a real estate investment trust , is pleased to announce the restructuring of its existing repurchase agreement financing facility with UBS Real Estate Securities, Inc.
Rates on 30-year mortgages, which had been rising for five straight weeks, posted a decline this week as signals from the Federal Reserve eased worries about imminent rate increases.
An even gloomier scenario may be in store for an already ailing U.S. housing market if the overall economy slips into a recession, according to UBS Securities analysts.
Freddie Mac says 30-year fixed rate fell to 6.35% in latest week as the Federal Reserve indicates that inflation should moderate this year.
Fannie Mae will redeem the principal amounts indicated for the following securities issues on the redemption dates indicated below at a redemption price equal to 100 percent of the principal amount redeemed, plus accrued interest thereon to the date of redemption:
LAS VEGAS----Vestin Realty Mortgage I announced today that it experienced a significant increase in problem loans during the quarter ended June 30, 2008. As of that date, the Company has 31 loans outstanding with an aggregate principal amount of approximating $54.1 million, of which, 18 loans with an aggregate principal amount of approximately $41.5 million were not current in making interest payments.
LAS VEGAS----Vestin Realty Mortgage II announced today that it experienced a significant increase in problem loans during the quarter ended June 30, 2008. As of that date, the Company has 43 loans outstanding with an aggregate principal amount of approximating $288.0 million, of which, 24 loans with an aggregate principal amount of approximately $201.3 million were not current in making interest payments.
Major business events and economic events scheduled for Thursday: NEW YORK -- The Institute for Supply Management releases its non-manufacturing index, 10 a.m.
The financial giant faces worsening home-equity woes.
Fannie Mae will redeem the principal amounts indicated for the following securities issues on the redemption dates indicated below at a redemption price equal to 100 percent of the principal amount redeemed, plus accrued interest thereon to the date of redemption: