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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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
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Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
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Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
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Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
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Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
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Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
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