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Mortgage News for Wednesday - January 21, 2004

More Mortgage News
• Home builders have best year since 1978
• US Senator-Don't eliminate Fannie,Freddie benefits
• Freddie Mac indicates 2003 earnings report on track
• Money worries in your 20s? There could be hope
• US requests for loans to acquire homes at record high
• Fannie Mae fourth-quarter profit more than doubles
• Fannie Mae investment portfolio lower in December
• Lower mortgage demand drags down Washington Mutual profit
• S&P Downgrades Mortgage Buyer Fannie Mae to Hold
• Probability of interest rate hike increased
• HUD wants zero-down mortgage loans
• Wachovia unit appoints real estate exec
• MORTGAGE DEBT STILL GROWING TOO RAPIDLY
• MORTGAGE LENDING SURGED 25% IN 2003
• Getting city's poor to use tax credits
• Winton Financial Corporation Posts First Quarter Fiscal 2004
• NEW LENDING FIGURES ARE REASON FOR CONCERN
• Bank Mutual Corporation Posts Earnings for the Year of 2003 and the Fourth Quarter of 2003
• US home building shares up as news impresses investors
• Mortgage Rates and Bush ... better lucky?
• Prudential Huntoon Paige Processes $16 Million in Loans
• Thornburg Mortgage licenses 3t Systems loan processing platform
• Economists expect decrease in home sales, construction
• Neighborhood looks to broaden housing design standards
Mortgage News
Getting city's poor to use tax credits - 2004-01-21
Philadelphia's working poor could share in $85 million by April if the city can find 50,000 low-income workers who are believed to be eligible for federal tax credits but who have not submitted the necessary forms.

But Elizabeth Crespo, a single mother who earns a modest salary as a intake worker for a social-service center, obtained $3,300 from the Earned Income Tax Credit last year. So instead of paying a $800 a month in rent, she is now paying a $535 mortgage.
Read the full story at Philadelphia Inquirer
 
Winton Financial Corporation Posts First Quarter Fiscal 2004 - 2004-01-21
Winton Financial Corporation, the parent of Winton Savings and Loan Co., posted quarterly net earnings for the first quarter ended December 31, 2003 of $910,000 or $.20 per diluted share.

Other income was impacted by a decrease in mortgage banking income of $462,000, quarter to quarter, and non-recurring gains on sales of real estate of $243,000 and gains on sale of investment securities designated as available for sale of $97,000 which occurred in the prior year's quarter.
Read the full story at PR Newswire via Yahoo!
 






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