LTC Properties Inc., Malibu, Calif., has called for a redemption of nearly 2 million shares of 9.0% series B cumulative preferred stock, which represents all the outstanding shares of the series B stock.The company said the redemption price will be $25 per share plus accrued and unpaid dividends, or $25.1875 per share. The redemption date will be March 31, 2004. LTC, a real estate investment trust that invests in long-term care and other health care facilities, can be found on the Web at http://www.ltcproperties.com.
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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.
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But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
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Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
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In an interview, Candor Technology's Sara Knochel recounts how she applies her childhood interest in languages and numbers to crucial home lending issues.
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Harmonizing standards for liquidity coverage ratios and discount window pledges could prevent the type of strains that led to last year's bank failures, according to a new paper whose authors include former Federal Reserve Govs. Dan Tarullo and Jeremy Stein.
March 27