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Mortgage News for Thursday - January 29, 2004

More Mortgage News
• Rates likely to remain near current levels
• Freddie Mac Capital Requirement Increased
• IndyMac says 4th-qtr net higher, mortgage share up
• NetBank drops 10% after earnings warning
• House price increases 'slowing down'
• Fed modifies wording on interest rate plans
• Mortgage Rates Around the Country Higher
• Whittier, Calif.-Based Bank Holding Company Posts Drop in Quarterly Profits
• Japan Banks Mizuho, Sumitomo Mitsui to Lower Mortgage-Loan Rates
• Lender says house-price rises will taper
• Mortgage requests drop
• Borrowers beware: Interest Rates will rise again
• Executives at U.K. Insurer Aware They Were Mis-Selling Mortgage Endowments
• Adelaide Mortgage Bank forsees strong year
• Advantages of home ownership touted
• Home is usually protected during bankruptcy
• Prophets of doom can't stop house prices
• Sales of new homes lower by 5 percent
• Council approves housing program
• Mortgage rate hike expected
• E-Loan replaces president after difficult fourth quarter
• Mortgage Corp. has five year agreement
• $1 million allocated for housing programs
• FHLB mortgage finance program grows rapidly in '03
• FREDDIE MAC UNVEILS OFHEO ACTION CONCERNING CAPITAL SURPLUS
• Midland Loan Services Activates Enterprise! Loan Management System
Mortgage News
E-Loan replaces president after difficult fourth quarter - 2004-01-29
E-Loan Inc. saw fourth-quarter revenues decrease 17 percent as the mortgage boom began to wind down. Citing a need for "a new set of skills," the Pleasanton online lender replaced its president with a member of the board.

In an earnings report Thursday, the company reported revenue of $27.4 million, down 17 percent from the fourth quarter of 2002.
Read the full story at San Jose Business Journal
 
Mortgage Corp. has five year agreement - 2004-01-29
The Bahamas Mortgage Corporation and the Bahamas Public Services Union reached a five-year contract on Tuesday, concluding negotiations, which reportedly took place in three sittings over a three-month period.

The agreement, which is said to have set a precedence with regard to the time frame of negotiations, is retroactive from Oct. 1, 2003.
Read the full story at Nassau Guardian
 






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