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Mortgage News for Wednesday - March 3, 2004

More Mortgage News
• House price slowdown tied to mortgage rate rises
• U.S. services boomed in February but jobs scarce
• Banks not exempt from LA, Arkansas loan laws - S&P
• US mortgage refinancing requests touch 7-month high
• Western United, Mortgage Met's biggest unit, under state control
• Mortgage Giant Freddie Mac chief lobbyist planning to leave-WSJ
• Onwards and upwards for house prices
• Higher interest rates fail to keep down house prices
• Bank of America Plans to Use American-Indian Mortgage Programs
• Fed's Beige Book sees tepid jobs growth
• New Mortgage Misery Manifests at U.K. Insurer Legal & General
• More than $100 million reportedly lost in mortgage investment scheme
• Atlanta-Based HomeBanc Mortgage Plans to Go Public
• IL&P planning more cost cuts, mortgage lending strong
• Mortgage Brokers finding a new niche in commercial loans
• Sydney house prices drops 2pc from Dec levels
• Wamu And Mortgage Giant Fannie Mae Boost Homeownership
• Is Adjustable Rate Mortgage a better loan deal?
• House Prices Higher
• Jury to decide fate of business people in mortgage racketeering trial
• ChoicePoint(R) Unveils System to Detect Mortgage Fraud
• Poll finds that 82 per cent of Canadians believe mortgage rates are as low as they will go
Mortgage News
Atlanta-Based HomeBanc Mortgage Plans to Go Public - 2004-03-03
Atlanta-based HomeBanc Mortgage Corp., among the metro area's leading home lenders, will go public with a $500 million offering this summer.

HomeBanc, which closed nearly $6 billion in mortgage loans in 2003, plans to become HomeBanc Corp., a new publicly traded real estate investment trust, the company said Tuesday.
Read the full story at Miami Herald
 
IL&P planning more cost cuts, mortgage lending strong - 2004-03-03
Irish Life & Permanent has posted pre-tax profits of €261.8m for last year, almost €30m lower than in 2002. The fall was mainly due to a €50m loss on the sale of its last remaining US business Guarantee Reserve Life.

Profits at Permanent TSB grew by 32% to €128.8m, driven by the continuing surge in mortgage lending - up 30% to €3.8 billion. Total loans increased 33% to €6 billion.
Read the full story at OnBusiness
 






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