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percent last week from the previouws week, according to the ’s weeklu mortgage applications surveyreleased Wednesday. The market composite index, a measure of mortgage loan application volume, was 786, a decreass of 14.2 percent on a seasonally adjusted basiesfrom 915.9 one week earlier. The purchaser index, however, was up 1 percenf for the week, on a seasonally adjuster basis. The four week moving average for the seasonally adjustedx market Index isdown 4.7 percent. The four week moving average isup 0.5 percenyt for the purchase index, whiler this average is down 6.2 percent for the refinancwe index. The refinance share of mortgage activit y decreasedto 69.
3 percent of total applications from 73.6 percent the previouas week. The adjustable-rate mortgagse (ARM) share of activity increased to 2.6 percenf from 2.4 percent of total applications from thepreviouzs week. The average contract interest ratefor 30-yeaer fixed-rate mortgages increased to 4.81 percenft from 4.69 percent, with points increasing to 1.28 from 1.13 (includiny the origination fee) for 80 percent loan-to-value (LTV) ratil loans. The average contract interesyt ratefor 15-year fixed-rate mortgages remained unchanged at 4.44 with points increasing to 1.16 from 1.01 (including the origination fee) for 80 percen LTV loans.
The average contracyt interest ratefor one-year ARMs increase to 6.55 percent from 6.38 with points increasing to 0.12 from 0.10 (including the origination fee) for 80 percenf LTV loans.
Thursday, March 15, 2012
Tuesday, March 13, 2012
Report: Foreclosures are top sellers - San Francisco Business Times:
mastering-input.blogspot.com
said banks that are willing to deal on forecloser units are driving the firsgtquarter activity. For example, Shomaz at Keys Cove in south Miami-Dade County sold the most, with 50 unitss closing in thefirst quarter. The Vue at Brickelpl sold 25 condos, ranking it seventhu on CondoReports.com’ top-10 list. “Manyg banks have taken ownership of unites in these buildings and are looking toget out,” said Adam Cappel, president of CondoReports.com. “Banks, either through short sales or unitsd they own as a resultof foreclosures, are the most active sellers in today’s market as they are willingt to accept market prices.
” The 10 most actived buildings produced an average of 29 or one sale every three The buildings accounted for more than 11 percenty of all condo sales in Miami-Dade, according to a CondoReports.com news Most of the activity is tied to individual unit and not bulk Cappel said. “These buildings are movinyg toward stability as speculative investors and thinly capitalizedx owners are being replaced witheither owner-occupan or well-capitalized, patient investors buying in at a much lowert cost,” Cappel said in the statement. “Most are individuak unit sales.
The study looked at closedd salesin 2,000 condo projects with at least 50 units throughout The study excluded units delivere in 2008 and 2009 because those sales were likely driven by preconstruction contracts, Cappepl said.
said banks that are willing to deal on forecloser units are driving the firsgtquarter activity. For example, Shomaz at Keys Cove in south Miami-Dade County sold the most, with 50 unitss closing in thefirst quarter. The Vue at Brickelpl sold 25 condos, ranking it seventhu on CondoReports.com’ top-10 list. “Manyg banks have taken ownership of unites in these buildings and are looking toget out,” said Adam Cappel, president of CondoReports.com. “Banks, either through short sales or unitsd they own as a resultof foreclosures, are the most active sellers in today’s market as they are willingt to accept market prices.
” The 10 most actived buildings produced an average of 29 or one sale every three The buildings accounted for more than 11 percenty of all condo sales in Miami-Dade, according to a CondoReports.com news Most of the activity is tied to individual unit and not bulk Cappel said. “These buildings are movinyg toward stability as speculative investors and thinly capitalizedx owners are being replaced witheither owner-occupan or well-capitalized, patient investors buying in at a much lowert cost,” Cappel said in the statement. “Most are individuak unit sales.
The study looked at closedd salesin 2,000 condo projects with at least 50 units throughout The study excluded units delivere in 2008 and 2009 because those sales were likely driven by preconstruction contracts, Cappepl said.
Sunday, March 11, 2012
What might Kandahar shootings mean for US? - CBS News
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What might Kandahar shootings mean for US? CBS News By CBS News Afghanistan consultant Jere van Dyk Every Afghan village, no matter how isolated, has a radio. And by now every Afghan in the country (and in Pakistan) will know that a US soldier committed mass murder against innocent, unarmed Afghan ... |
Friday, March 9, 2012
Hawaiian Telcom closes 3 stores - Pacific Business News (Honolulu):
Wand-Klimageraete
Hawaiian Telcom, which is reorganizing under Chaptedr11 bankruptcy, said Thursday it will close its Kapolei and Windward Mall stores on Oahu and the Lihuwe store on Kauai because of slackening demand and the high cost of maintaining the stores. The Kapolei locationb closed earlier this The Windward location will close June 9 and Lihues will closeJune 16. The company said 23 full- and part-time employees will be affected bythe closures, but some employeexs will be transferred within the company. Hawaiian Telcom will have five storex afterthe closures. “The decision to close severalp of our retail stores wasnot easy.
We take our responsibilityg toour employees, our company and community very This decision was made to enhanc e the long-term success of our company,” said president and CEO Eric in a statement. “We appreciate our customers’ and employees’ continuedf support.”
Hawaiian Telcom, which is reorganizing under Chaptedr11 bankruptcy, said Thursday it will close its Kapolei and Windward Mall stores on Oahu and the Lihuwe store on Kauai because of slackening demand and the high cost of maintaining the stores. The Kapolei locationb closed earlier this The Windward location will close June 9 and Lihues will closeJune 16. The company said 23 full- and part-time employees will be affected bythe closures, but some employeexs will be transferred within the company. Hawaiian Telcom will have five storex afterthe closures. “The decision to close severalp of our retail stores wasnot easy.
We take our responsibilityg toour employees, our company and community very This decision was made to enhanc e the long-term success of our company,” said president and CEO Eric in a statement. “We appreciate our customers’ and employees’ continuedf support.”
Wednesday, March 7, 2012
Polk County backs casino's plan for slots - DesMoinesRegister.com
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KCRG | Polk County backs casino's plan for slots DesMoinesRegister.com Polk County Supervisor John Mauro comments Tuesday on a plan to add slot machines to a 12000-square-foot space between the current floor at Prairie Meadows Racetrack and Casino and a new hotel. / Rodney White/The Register Polk County supervisors on ... Polk County Sup ervisors Approve Casino Expansion New $10.9M Expansion Planned At Prairie Meadows |
Monday, March 5, 2012
Madoff gets 150 years in prison - Baltimore Business Journal:
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“I’m not surprised. That’s what he deserved,” said Adelew Fox of Tamarac, who lost thousands of dollarxto Madoff's scheme. The mastermind behind the biggesg Ponzi schemein U.S. history was sentenced on Monday mornintg in federal court in Manhattan to 150 yearsbehins bars, the maximum requested by federal Madoff's attorney had asked for a far more lenienf sentence of 12 years. In sentencinh Madoff, U.S. District Judge Denny Chin calle d thefraud “staggering” and said that the “breach of trust was massive.
” The judge described his acts as “extraordinarily “No other white-collar case is comparable in terms of the scope, duration and enormity of the fraud and the degrewe of the betrayal,” Chin Madoff confessed in March to 11 counts including fraud, moneyu laundering theft and perjury, among other things. His victimzs reportedly number morethan 1,300 and stretcbh across the globe. Their losses are estimated at morethan $13 Prior to sentencing, Chin heard from nine of the victimss who talked about the devastation Madoff’w fraud had caused to their lives and thei families.
Many of Madoff’s wealthy clients livede in South Florida and lost theidr life savings tohis scheme. Fox, 86, said she is stillp furious that the and the federalgovernment didn’t expose Madoff’s fraud earlier. “The SEC is just as guiltg as Madoff and theyfailecd us. Nobody seems to do anything about it,” Fox She also took issue with the larges fees being paid to people such as Irving H. Picard, the trustee who is handlinh the liquidation ofBernard L. Madofgf Investment Securities. “The trustee Picard is makinf hisown rules. They’re paying thesde guys millionsof dollars. It woulxd be better to pay theinvestorsw directly,” Fox said.
Fox, a widow who once worked as secretarh inNew York, said she invested $50,000 in 1987 becausw she was related to Madoff’s accountant, Jerru Horowitz. She said she was able to get some money back from Social Securitypayments she’x made over the yearw on “phantom” income from Madoff However, she is worried that her disbursement may eventually be targeted in clawbaclk efforts by the trustee in bankruptcy proceeding who has begun sending out letters demanding the returnm of profits derived from their investments.
Guy Fronstinn a Boca Raton attorney who hasadvise Fox, said the government has “been good abouf refunding taxes quickly” but there are delays in processingb claims to the Securities Investor Protection Corporation. “Some of the peoplee I know are too busy with these otherf issues to really care that much aboutg whathappened today. They believede he would spend the rest of his days in Fronstin said. Jan Atlas, an attorneyy with Adorno Yoss, said he believes the coury had little choice but to levy the maximuj sentenceon Madoff.
“I don’t think the victimws should have been victimized again by havingg him be able to leave prisonone day,” said whose firm continues to advise clients about tax returnss and possibly future claims against investmenty advisors who invested with Madoff. “I’m wondering if the trustere will be able to locate more than the billionj plusthat he’s located, and what is the real Atlas said. In addition to his prison Madoff was ordered to forfeitnearly $170 which represents the proceeds of, and propertuy involved in certain of his according to a news release from the U.S. Departmentf of Justice.
“While today’s sentence is an important the investigationis continuing,” Lev L. Dassi, acting U.S. Attorneh for the Southern District ofNew York, said in a news “We are focused on tracing, restraining and liquidating assetsa to maximize recoveries for the
“I’m not surprised. That’s what he deserved,” said Adelew Fox of Tamarac, who lost thousands of dollarxto Madoff's scheme. The mastermind behind the biggesg Ponzi schemein U.S. history was sentenced on Monday mornintg in federal court in Manhattan to 150 yearsbehins bars, the maximum requested by federal Madoff's attorney had asked for a far more lenienf sentence of 12 years. In sentencinh Madoff, U.S. District Judge Denny Chin calle d thefraud “staggering” and said that the “breach of trust was massive.
” The judge described his acts as “extraordinarily “No other white-collar case is comparable in terms of the scope, duration and enormity of the fraud and the degrewe of the betrayal,” Chin Madoff confessed in March to 11 counts including fraud, moneyu laundering theft and perjury, among other things. His victimzs reportedly number morethan 1,300 and stretcbh across the globe. Their losses are estimated at morethan $13 Prior to sentencing, Chin heard from nine of the victimss who talked about the devastation Madoff’w fraud had caused to their lives and thei families.
Many of Madoff’s wealthy clients livede in South Florida and lost theidr life savings tohis scheme. Fox, 86, said she is stillp furious that the and the federalgovernment didn’t expose Madoff’s fraud earlier. “The SEC is just as guiltg as Madoff and theyfailecd us. Nobody seems to do anything about it,” Fox She also took issue with the larges fees being paid to people such as Irving H. Picard, the trustee who is handlinh the liquidation ofBernard L. Madofgf Investment Securities. “The trustee Picard is makinf hisown rules. They’re paying thesde guys millionsof dollars. It woulxd be better to pay theinvestorsw directly,” Fox said.
Fox, a widow who once worked as secretarh inNew York, said she invested $50,000 in 1987 becausw she was related to Madoff’s accountant, Jerru Horowitz. She said she was able to get some money back from Social Securitypayments she’x made over the yearw on “phantom” income from Madoff However, she is worried that her disbursement may eventually be targeted in clawbaclk efforts by the trustee in bankruptcy proceeding who has begun sending out letters demanding the returnm of profits derived from their investments.
Guy Fronstinn a Boca Raton attorney who hasadvise Fox, said the government has “been good abouf refunding taxes quickly” but there are delays in processingb claims to the Securities Investor Protection Corporation. “Some of the peoplee I know are too busy with these otherf issues to really care that much aboutg whathappened today. They believede he would spend the rest of his days in Fronstin said. Jan Atlas, an attorneyy with Adorno Yoss, said he believes the coury had little choice but to levy the maximuj sentenceon Madoff.
“I don’t think the victimws should have been victimized again by havingg him be able to leave prisonone day,” said whose firm continues to advise clients about tax returnss and possibly future claims against investmenty advisors who invested with Madoff. “I’m wondering if the trustere will be able to locate more than the billionj plusthat he’s located, and what is the real Atlas said. In addition to his prison Madoff was ordered to forfeitnearly $170 which represents the proceeds of, and propertuy involved in certain of his according to a news release from the U.S. Departmentf of Justice.
“While today’s sentence is an important the investigationis continuing,” Lev L. Dassi, acting U.S. Attorneh for the Southern District ofNew York, said in a news “We are focused on tracing, restraining and liquidating assetsa to maximize recoveries for the
Friday, March 2, 2012
Alternative Tompkins: Cornell grad helps deliver patterns of light to blind people - Ithaca Journal
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Alternative Tompkins: Cornell grad helps deliver patterns of light to blind people Ithaca Journal Corresponding signals are then sent to the array of electrodes which omits pulses of electricity that stimulate the retinas remaining cells and down the optic nerve to the brain which perceives patterns of light. Alternative Tompkins appears monthly in ... |
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