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Mortgage News for Tuesday - July 20, 2004

More Mortgage News
• US housing starts tumble to lowest for a year
• Home prices set new record in state
• Attorney Accused Of Mortgage Fraud
• United Bank reports modest rise in profits
• Wells Fargo Q2 net profits up over year ago
• Buying own home just a 'pipe dream'
• AccessBanc: New 5 Year Fix-Pay Adjustable Rate Mortgages
• Demand from first-time home buyers and empty-nesters fuels the condo market
• First Horizon reorganizes
• RBC Mortgage and Victoria Homes Sign Interest Rate Lock Agreement
• Abandoned Homes Give Neighborhoods A Run-Down Look
• June 'big month' for county home sales
• Wachovia to buy SouthTrust for $14.3B
• Cendant near sale of mortgage unit
Mortgage News
First Horizon reorganizes - 2004-07-20
First Horizon National Corp. has cut back its number of financial reporting segments to four from five, and has realigned them to make operations more transparent, the company announced Tuesday.

The company will now report financials under the segments retail/commercial banking; mortgage banking; capital markets and corporate.
Read the full story at Memphis Business Journal
 
RBC Mortgage and Victoria Homes Sign Interest Rate Lock Agreement - 2004-07-20
RBC Mortgage announced that it has signed a builder forward commitment with Victoria Homes of Imperial Valley, CA, to make sure that Victoria Homes' customers have access to stable mortgage rates through 2006.

RBC Mortgage's National Builder Commitment Program provides, in essence, "rate insurance" for preferred builders, allowing the builder to secure future, in process or unsold home inventory.
Read the full story at Market Wire
 






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