Hanover Capital Mortgage Holdings Inc., Edison, N.J., has reported net earnings of $9.3 million for 2003 ($1.60 per share) versus $5.1 million ($1.16 per share) the year before, a 38% increase in earnings per share.For the fourth quarter, Hanover Capital reported earnings of $2.4 million ($0.30 per share), compared with $928,000 ($0.21 per share) a year earlier. "Over the past three years our earnings per share have increased at a 41.9% compound annual growth rate," said John A. Burchett, the company's chief executive officer. "Our decision to distribute a special dividend of $0.40 per share demonstrates management's commitment to distribute substantially all of our GAAP earnings to stockholders."
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
March 28 -
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.
March 28 -
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.
March 28 -
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