President Bush did not spell out any new plans to help New Orleans and the Gulf Coast states rebuild in his state of the union speech Tuesday evening."We're providing debris removal and repairing highways and rebuilding levees," the president said in his Jan. 31 speech to Congress. "We're providing business loans and housing assistance." Congress has already appropriated $85 billion to assist with the cleanup, and only $23 billion has been spent so far. The Bush administration recently announced that $11.5 billion is available to help hurricane victims rebuild their homes. But the president has nixed the creation of a new government agency, the Louisiana Recovery Corp., proposed by Rep. Richard Baker, R-La., to oversee and finance the cleanup and rebuilding of New Orleans and other hard-hit areas of the state. Despite Bush administration opposition to the Baker plan, Senate Banking Committee Chairman Richard Shelby, R-Ala., still plans to hold a hearing in mid-February to examine proposals to rebuild the Gulf Coast region, including taking a close look at the Baker proposal. "We will give it a full airing before the committee," a committee spokesman said.
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
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Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
11h ago -
Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
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The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
March 28 -
But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
March 28 -
Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
March 28