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Fitch Affirms 38, Places 2 Classes on Rating Watch from 3 CSFB ...
The collateral of the above transactions consists of first and second lien, fixed-rate and adjustable-rate subprime mortgage loans. As of the March 2007 distribution date, the transactions are seasoned from a range of 11 months to 13 months, and the pool factors (current collateral balance as a percentage of original collateral balance) range from approximately 72% to 87%. All of the mortgage loans were purchased by an affiliate of the depositor from various sellers in secondary market transactions. The affirmations reflect adequate relationships of credit enhancement (CE) to future loss expectations and affect approximately $2.222 billion of outstanding certificates. Two classes in the 2006-1 and 2006-2 series, representing $10.4 million of outstanding certificates, were placed on Rating Watch Negative due to early trends in the relationship between serious delinquency and credit enhancement.
How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? What about other factors having to do with your mortgage, such as mortgage insurance and rising payment amounts? .
/ CORRECTION - Milberg Weiss Announces the Continuation of ...
Milberg Weiss Announces the Continuation of Investigation Relating to Class Action Lawsuits Filed on Behalf of Certain Investors of Accredited Home Lenders Holding Co. -- LEND NEW YORK, NY -- (MARKET WIRE) -- May 01, 2007 -- In the news release, "Milberg Weiss Announces the Continuation of Investigation Relating to Class Action Lawsuits Filed on Behalf of Certain Investors of Accredited Home Lenders Holding Co. -- LEND," issued earlier today by Milberg Weiss & Bershad LLP, we are advised by the company that the following subhead was omitted from the original transmission: "ATTORNEY ADVERTISING. PRIOR RESULTS DO NOT GUARANTEE A SIMILAR OUTCOME." Complete corrected text follows. Milberg Weiss Announces the Continuation of Investigation Relating to Class Action Lawsuits Filed on Behalf of Certain Investors of Accredited Home Lenders Holding Co.
Gershman Mortgage closes $3M Centennial Plaza loan
Gershman Mortgage recently closed a $3.19 million loan to renovate Centennial Plaza Apartments in St. Louis, the firm said Wednesday. Gershman said it also recently closed loans for three other commercial developments outside the area totaling more than $6 million. Centennial Plaza Apartments, a 77-unit complex, is located at 4115 McPherson Ave. .
Tickets to be issued at home
European Union drivers committing traffic offences abroad will be punished in their home country on return under a proposed new law. "The idea is to make it possible to punish traffic offences committed in one EU country, in another EU country," Transport Commissioner Jacques Barrot said. The planned law will target drink-driving, speeding and failure to wear a seat-belt. The legislation, which must be cleared by EU governments, will require heavy work before implementation because members must first create a system to exchange information on driving offences and agree on their mutual recognition. Some countries already co-operate. Belgian drivers photographed speeding in France are likely to receive tickets at home, but Poles can feel safe once they cross their border.
American Spectrum Realty Announces Purchase of Multi-Tenant ...
HOUSTON--(BUSINESS WIRE)--American Spectrum Realty, Inc. ("ASR") (AMEX:AQQ), a real estate investment and management company, headquartered in Houston, Texas, announced today the purchase of Beltway Industrial Park, a multi-tenant industrial park in Houston, Texas, on April 27, 2007. The project, located in West Houston one mile west of the Beltway 8 and Highway 290 intersection, consists of approximately 400,000 square feet and is currently 73% leased. One of the property's 23 buildings, which accounts for 22,000 square feet of the property, was acquired in March 2007. William J. Carden, President and CEO, stated, "We are pleased to add this large industrial project to our portfolio. This acquisition increases our Texas portfolio to nearly 2,000,000 square feet. We plan on acquiring more real estate this year in Houston, Texas, one of our core markets." Management and leasing of Beltway Industrial will be handled by personnel in ASR's corporate headquarters located in Houston.
Woolwich reduces rate on 2 year fixed rate mortgage deal
In the face of increasing SWAP rates which are pushing fixed rate mortgage deals higher Woolwich has chosen to simplify its range which has allowed it in some cases to actually reduce the rates on its fixed rate deals.
By standardising the loan to value at 95 per cent on all its 2, 3 and 5 year fixed rates Woolwich is able to reduce the rate on its two and five year fixed deals from 5.99 per cent to 5.79 per cent for 95 per cent loan to value, with a fee of £595. The fee free 2 year fixed rate has seen the rate on 95 per cent loan to value drop from 6.19 per cent to 5.99 per cent. This has the effect of making all these deals much more attractive to first time buyers.
Andy Gray, head of mortgages for Woolwich, said: “There is usually an up lift in mover activity at this time of the year, and we are targeting those having smaller deposits, most often first time buyers.
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