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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
IndyMac says 4th-qtr net higher, mortgage share up - 2004-01-29
IndyMac Bancorp Inc., one of Southern California's biggest savings and loans, on Thursday said fourth-quarter per-share profit increased 19 percent, helped by a rising market share in the single-family residential mortgage market.

The Pasadena-based company said net income totaled $43.3 million, or 75 cents per share, matching the average analyst estimate according to Reuters Research, a unit of Reuters Group Plc. It said profit was 63 cents per share a year earlier.
Read the full story at Reuters
 
NetBank drops 10% after earnings warning - 2004-01-29
Shares of NetBank dropped as much as 10 percent Wednesday, after the Alpharetta-based financial services company warned that analysts' earnings estimates for the current quarter could be too high.

Although it's widely known for its Internet banking operations, NetBank also has large mortgage-banking operations and recently expanded into payments processing.
Read the full story at Atlanta Journal And Constitution
 






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