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Volume 2 - Number 16 | August 24, 2004
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LEGISLATIVE WATCH: Advocates and Politicians Join To Push Housing Trust Bill Through Congress
By Sule Aygoren Carranza
Affordable housing advocates and several members of the US House of Representatives have banded together to put a proposed bill into motion on Capitol Hill. The bill would establish a national housing trust fund with a dedicated source of funding: the multi-billion-dollar surplus from the Mutual Mortgage Insurance Fund, the Federal Housing Administration’s largest single-family homeownership insurance program.
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It's Official: Berkshire Mortgage To Join Deutsche Bank's Folds
By Sule Aygoren Carranza
Confirming rumors that had been circulating for months, Deutsche Bank has entered into a definitive agreement to acquire Berkshire Mortgage Finance LP, taking virtually all of the Berkshire Group subsidiary’s origination and servicing assets. The terms of the deal, which is expected to close in the fourth quarter of this year, were not disclosed.
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WaMu's Troubles Rattle Mortgage-Lending Business
By Sule Aygoren Carranza
Over the past several weeks, Seattle-based mortgage-banking powerhouse Washington Mutual Inc. has been roiled with change. The nation's largest holder of multifamily debt has, in addition to shuttering some offices, said that earnings for full-year 2004 would be lower than expected, at $3.00 to $3.60 per diluted share, down from $4.35. The bank attributes the decrease to rising interest rates’ impact on its mortgage-banking unit.
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