The board of directors of U.S. Bancorp, Minneapolis, the parent company of U.S. Bank Home Mortgage, has authorized a program to repurchase up to 150 million shares of its outstanding common stock.The authorization replaces the company's existing share repurchase program. U.S. Bancorp's common stock may be repurchased through December 2008 in the open market or in privately negotiated transactions, and the reacquired shares will be held as treasury shares and may be reissued for various corporate purposes, the company said. U.S. Bank can be found online at http://www.usbank.com.
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The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.
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The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
April 18 -
In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
April 18 -
The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
April 18 -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
April 18