Zacks Investment Research, Chicago, has put American Home Mortgage Investment Corp., a lender based in Melville, N.Y., on its High Rank Value Profit Track list.The company said value investors look for stocks that trade at a price-to-earnings multiple below 15 and a price-to-book multiple below 3. The list is created from stocks that meet those criteria and are ranked by Zacks as either "#1 Strong Buy" or "#2 Buy." American Home had a P/E multiple of 5.21 and a P/B multiple of 1.19 as of the morning of March 8. Zacks noted that American Home's fourth-quarter earnings amounted to $1.21 per share, well above the fourth-quarter 2005 EPS of $0.27, beating the consensus estimate by nearly 2%.
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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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Test your knowledge of the biggest mortgage headlines of the week. No. 2 pencil not required!
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