Emeritus Assisted Living, Seattle, has announced that it will delay reporting its third-quarter financial results pending completion of a review of issues related to previously announced earnings restatements for 2003 and 2004.The restatements will correct the booking of a 2003 transaction as a sale-leaseback that should have been booked as a refinance under Financial Accounting Standard No. 98, Accounting for Leases, Emeritus said. The company said it expects the restatements to decrease net income to common shareholders by approximately $470,000 in 2003, increase net loss to shareholders by approximately $310,000 in the first quarter of 2004, and decrease net loss to shareholders by approximately $10,000 in the second quarter of 2004. The company can be found online at http://www.emeritus.com.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
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In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
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The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
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The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
April 18 -
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
April 18 -
The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
April 18