Nonprime lender New Century Financial Corp. has been added to the Russell 1000 Index, which includes the largest 1,000 securities in the Russell 3000 Index.New Century was previously a member of both the Russell 2000 Index and the Russell 3000 Index. "We are very pleased to become a member of the Russell 1000 Index as this accomplishment reflects our strong performance, continued growth and focus on increasing stockholder value," said Robert K. Cole, New Century's chairman and chief executive officer. "Additionally, we believe that being a member of this large-cap index will increase our visibility to the investment community," he said. New Century can be found online at http://www.ncen.com.
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The threats to companies loom as borrowers face soaring homeowners insurance costs, ex-Ginnie Mae head Ted Tozer explains.
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The Federal Housing Administration, the Department of Veterans Affairs and the Federal Housing Finance Agency have started gathering data and analyzing how climate risk will impact the housing ecosystem.
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A special committee is exploring any possible structural "strategic alternatives," which would be aimed at increasing shareholder value, the real estate investment trust said.
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An insurance-indexed debt-to-income ratio could help mitigate borrowers' rising premiums, and help maintain a healthy servicing portfolio, experts said.
April 22 -
But the number of properties whose mortgage is more than 90 days late is at its lowest since 2006, ICE Mortgage Technology said.
April 22 -
Industry leaders expressed a high degree of satisfaction with technology in use, but also said a product's cost is the most important criteria for them when partnering with vendors, according to Fannie Mae research.
April 22