Interest Rate Markets News     Click to continue . . .

  •   Suntrust Announces Final Results of Tender Offer
SunTrust Banks, Inc. (NYSE: STI) announced today the final results of SunTrust Bank's cash tender offer (the "Tender Offer") to purchase up to $750,000,000 aggregate principal amount (the "Maximum Tender Amount") of certain of its currently outstanding subordinated debt securities (the "Notes"). The Tender Offer expired at 11:59 p.m., New York City time, on August 20, 2010.
Suntrust Mortgage, Inc.,Mike McCoy,Atlanta   09/02/2010

  •   Northern Rock Launches Issue 2 of the Little Rock Fixed Rate Bond
Northern Rock has launched a new issue of its Little Rock Fixed Rate Bond to help children save for their future following the unprecedented popularity of the Little Rock Fixed Rate Bond (Issue 1) that was launched in early August.
Northern Rock,Jule Wilson,Gosforth England  09/02/2010

  •   Forest City Announces Closing of $46.1 Million Financing for D.C. Apartment Project at The Yards
Forest City Enterprises, Inc. (NYSE:FCEA) (NYSE:and) (NYSE:FCEB) today announced that a subsidiary closed a $46.1 million HUD-insured mortgage loan for Foundry Lofts, a 170-unit, 80/20 multifamily apartment building at The Yards, Forest City's mixed-use project in southeast Washington, D.C.
Forest City Enterprises, Inc.,Robert O'Brien,Cleveland   09/01/2010

  •   Chinaventure`s Cvsource Report - 2005 Vintage USD Funds in China: IRR 5%
USD funds have been the first choice for local enterprises looking for private placements since foreign VC/PE institutions flocked to China in 2004. Close analysis of returns earned by China-focused VC/PE USD funds found that, by the end of 2009, the Remaining Value to Paid-in Capital of most post-2004 vintage USD funds is more than 80%, and their Distribution to Paid-in Capital varies in the 0-5% range. In general, post-2008 vintage growth funds tend to be more profitable than venture funds.
ChinaVenture,Swigee Ma,Beijing   09/01/2010

  •   Independent Bank Corporation Announces 1-For-10 Reverse Stock Split
Independent Bank Corporation (NASDAQ:IBCP) , the holding company of Independent Bank, a Michigan-based community bank, announced today that it has taken steps to initiate a one-for-ten reverse stock split of the Company's common stock to be effective Aug. 31, 2010. As a result of the reverse stock split, every ten shares of the Company's common stock issued and outstanding immediately prior to the effective date will be combined into one share of common stock. The Company will not issue fractional shares of common stock. Fractional shares resulting from the reverse stock split will be rounded up to the nearest whole share. The Company expects that trading of its common stock on the NASDAQ Global Select Market on a split-adjusted basis will begin at the open of trading on Sept. 1, 2010. Completion of the reverse stock split is subject to the Company's completion of the steps necessary to implement the reverse split, which are expected to occur prior to the planned effective date of Aug. 31, 2010.
Independent Bank Corporation,Robert Shuster,Ionia Mich.  09/01/2010

  •   Wolf Popper and Greenbaum Rowe Report on Class Action Concerning the Schwab Total Bond Market Fund (`swlbx`)
Wolf Popper LLP and Greenbaum Rowe Smith & Davis LLP, co-lead counsel for the named plaintiff in Northstar Investment Advisor Inc. v. Schwab Investments, 08 cv 4119 (N.D. Cal.), invite interested shareholders in the Schwab Total Bond Market Fund (symbol: SWLBX) to contact Robert Finkel (212-451-9620) or Marc Gross (973-577-1810) to discuss the status of the action. The Northstar complaint alleges that defendants deviated from the Fund's stated investment policy to track the Lehman Brothers U.S. Aggregate Bond Index by investing in high-risk non-U.S. agency collateralized mortgage obligations, rather than the conservative debt instruments that were part of the Index. On August 12, 2010, the Ninth Circuit granted defendants' appeal seeking to dismiss plaintiff's claim under the Investment Company Act of 1940. Other state law claims remain in the action and are being aggressively prosecuted by co-lead counsel.
Wolf Popper LLP,Robert C. Finkel,San Francisco   09/01/2010

Mortgage Lending News     Click to continue . . .

  •   Pardee Homes` Execs Earn Exclusive Rankings from National Association of Home Builders
LAS VEGAS, NV, September 03, 2010 /24-7PressRelease/ -- Pardee Homes, long known as a leader in green building, just got a little greener. The company, which was recently named Green Building Corporate Advocate of the Year by the National Association of Home Builders (NAHB), has yet another green feather in its cap.
24/7 Press Release Newswire,24/7 Media,   09/03/2010

  •   Jackson Design & Remodeling Launches Painting Division: Expert Designers Help Homeowners Solve Color Dilemmas
SAN DIEGO, CA, September 03, 2010 /24-7PressRelease/ -- San Diego remodeling firm Jackson Design and Remodeling today announced the launch of its new painting division, offering clients one-on-one personal color consultations with professional interior design staff.
24/7 Press Release Newswire,24/7 Media,   09/03/2010

  •   LV= Reports Kids Come First as Parents Increase `Back to School` Spending to GBP709 Million
LONDON, ENGLAND, September 03, 2010 /24-7PressRelease/ -- LV=`s new Cost of a Child study has found that parents will spend GBP709 million* on `back to school` basics including uniforms, stationery, sportswear and winter coats as parents prepare to kit their children out for the start of the new school year. This is equivalent to parents spending an average of GBP122 on their children. This rises to GBP139 for secondary school aged children, compared to GBP96 for infants. Parents living in London spend the most preparing for their kids to go back to school at GBP158 on average.
Midflorida Schools Federal Credit Union,24/7 Media,   09/03/2010

  •   At Home with Yara Realty Provides Top-Notch Real Estate Services to Westchester County, NY
WESTCHESTER COUNTY, NY, September 03, 2010 /24-7PressRelease/ -- Yara Annechiarico of At Home with Yara Realty offers Westchester County, NY real estate services in New Rochelle, Larchmont, Mamaroneck, Rye, Rye Brook, Port Chester, White Plains, Greenburgh, Scarsdale, Eastchester, Hartsdale, Harrison, Valhalla, Bronxville, Yonkers and others areas of Westchester County.
24/7 Press Release Newswire,24/7 Media,   09/03/2010

  •   Securities Unit of Bankrupt Capmark Lands with MountainView
MountainView Capital Holdings recently announced that it has acquired the fixed income broker-dealer arm of the bankrupt commercial real estate lender Capmark Financial Group. Capmark sold off its North American loan origination and servicing businesses to Berkadia Commercial Mortgage at the end of last year, and its real estate equity advisory subsidiary, Capmark Investments, to Trecap Partners in March 2010.
DSNews.com,Admin,   09/02/2010

  •   NAR`s Index of Pending Home Sales Unexpectedly Climbs
Following a sharp drop in the months immediately after the homebuyer tax credit expired, the National Association of Realtors' gauge for future sales of previously owned homes has risen. NAR reported Thursday that its Pending Home Sales Index, based on contracts signed in July, increased 5.2 percent from last month's reading. The month-to-month jump was an unexpected development, and some analysts say it may be a sign that the post-tax credit lull in home sales will soon come to an end.
DSNews.com,Admin,   09/02/2010