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Mortgage News for Monday - August 4, 2003

More Mortgage News
• Buy-to-let market healthy
• HK will increase mortgage limit to boost apartment market
• Homeowners' rate warning
• First-time buyers staking a house
• Singapore banks hit by second-quarter profit drop
• New Albany bank establishes branch in St. Matthews
• Tax bills sent to property owners
• PMI Group, others to acquire GE unit for $2.1 billion
• Before mortgage refinancing know the real cost of renovation
• FHFC commits $50M for first-time home buyers
• 2003 may be the best year ever for local home sales
• CRAIG/is tops list
• Real estate bubble or no bubble? Depends who you ask
• For movers, home sales make up for fewer businesses relocating
• The Bank of Hemet Joins MoneyLine Lending Services to Offer Full-Service Mortgage Lending Program
• Mortgage Refinancings Drop; 'Party Is Over,' Lender Says
• Bank of Internet Posts New High in Profits; Annual Pre-tax Income Surges 176%
• Factory orders 1.7% higher in June
• Low interest rates add new curve to real estate financing
• Fed sees new signs of growth
Mortgage News
Tax bills sent to property owners - 2003-08-04
Real Estate Tax bills for the year 2002 were sent out today to Effingham County residents.

Property owners whose taxes are placed in escrow with their mortgage company are encouraged to check with the Effingham County Treasurer's Office to ensure their mortgage company has paid the tax bill. If a tax bill is mailed to the property owner, but the mortgage company is responsible for paying the taxes, the property owner must forward the bill to the mortgage company.
Read the full story at Effingham Daily News
 
PMI Group, others to acquire GE unit for $2.1 billion - 2003-08-04
It's done. After weeks of speculation, The PMI Group Inc. said it, along with a group of investors, will acquire Financial Guaranty Insurance Co. from General Electric Capital Corp. for $2.16 billion.

Walnut Creek-based mortgage and lending services firm PMI will take about a 42 percent stake in the firm, with The Blackstone Group and The Cypress Group each owning about 23 percent of the newly acquired firm.
Read the full story at San Francisco Business Times
 






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