American Home Mortgage NEWS
First American: Home prices point to trouble ahead
... income has increased 2.9% since September 2017 and 53% since January 2000. First American
Chief Economist Mark Fleming said the importance of household income growth's ability to mitigate the loss of affordability from a rising mortgage
rate is clear.
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American Home Mortgage Investment Corporation (OTC Pink: AHMIQ) was the 10th largest retail mortgage lender in the United States and was structured as a real estate investment trust (REIT).It has filed for bankruptcy. The company stated that it was focused on earning net interest income from self-originated loans and mortgage-backed securities, and through its taxable subsidiaries, from originating and servicing mortgage loans for institutional investors.Mortgages were originated through the company's employees as well as through mortgage brokers and purchased from correspondent lenders and were serviced at the company's servicing center in Irving, Texas.The company filed for Chapter 11 bankruptcy protection in Wilmington Delaware federal court, on August 6, 2007. The week before the filing, the company said that many of its lenders had demanded their money back, and that AHM was also unable to deliver on about US$800 million in commitments for housing loans, and had laid off nearly ninety percent of its 7,000 employees.
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