Capital Alliance Income Ltd., a residential mortgage real estate investment trust based in San Francisco, has reported receiving notification from the American Stock Exchange that it is not in compliance with Amex's continued listing standards.The warning letter from Amex gives the REIT until June 16 to file Form 10-QSB for the three months ended March 31 with the Securities and Exchange Commission. Richard Wrensen, CAIT's chief executive officer, said the reason for the delay in the filing is the additional time required to reclassify and report its taxable subsidiary, Capital Alliance Funding Corp., as an asset held for disposal at year-end 2005.
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The new Financial Stability Oversight Council report also recommends an expanded Ginnie Mae PTAP facility and an industry-funded liquidity resource.
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The publicly traded title holding companies all had stronger earnings as the mortgage market improved from one year prior.
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One in every 37 residential properties nationwide had a loan-to-value ratio of 125% or greater to begin the year, according to a new report.
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There's temporary leeway on formal compliance with replacement-cost value requirements in order to sort out insurer concerns with a recent re-emphasis on them.
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Max Levchin, CEO of the buy now/pay later lender, said recent tests show young adults prefer interacting with intelligent chatbots over phone-based agents, but the company doesn't foresee major cost savings from generative AI for a few more years.
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May 10