TCF Financial: interest rates negatively affect lending revenue - 2004-01-15
TCF Financial Corp., the parent of TCF National Bank, Thursday revealed its fourth-quarter income dropped slightly, missing Wall Street estimates, as low interest rates continue to hurt lending profits.

"TCF failed to meet its earning goals due to the 40-year low in interest rates which was not anticipated," said William A. Cooper, TCF's chairman and chief executive. "These very low interest rates caused a high level of prepayments in our residential loans and mortgage-backed securities portfolio."
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Ohio Agency Investigates Actions of Defunct Westerville Mortgage Firm - 2004-01-15
The Ohio Department of Commerce has begun an examination of Ameribanc Mortgage Inc. as questions continue about what happened at the Westerville company.

In a related development, the court-appointed receiver in charge of Ameribanc's operations said yesterday that anyone who refinanced through Ameribanc in the past year should be concerned that their previous mortgage might not have been paid off.
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