Innkeepers USA Trust, a real estate investment trust based in Palm Beach, Fla., has announced an increase in its revolving unsecured line of credit from $135 million to $205 million.The hotel REIT said the line of credit has also been amended to extend the maturity to September 2008 and to reduce the interest rate from a range of 140-225 basis points over the London interbank offered rate to a range of 115-175 bps over LIBOR. In addition, the facility can be expanded to $275 million under certain circumstances, Innkeepers USA said. The REIT can be found on the Web at http://www.innkeepersusa.com.
-
The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
5h ago -
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
9h ago -
Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
April 24 -
A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
April 24 -
The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
April 24 -
The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
April 24