Standard Pacific Corp. Reports 2007 Fourth Quarter And Fiscal Year Loss Feb 5, 2008
In addition, the Company began to retire its $150 million of 6 1/2% senior notes due October 1, 2008 through the open market purchase in the fourth quarter of $24 million of those notes, and the Company paid down its trust deed notes payable by nearly $66 million ... " The valuation allowance resulted in a $180.5 million noncash charge in the 2007 fourth quarter. To the extent that the Company generates eligible taxable income in the future to utilize the tax benefits of the related deferred tax... (PR Newswire)
Vibrant Downtown Medical Village At Risk Jan 31, 2008
Mike's Traveling Miracle Medicine Show" will be out soon To property check wrote on Jan 30, 2008 3:36 PM:It's easy to find property on a residence, but locating property through relatives, trusts, buisness names and/or partnerships is difficult. Also, the county charges for the information. For one individual I mentioned there were 48 document numbers, another had 24. Robroy had five trust deeds. Talk about the rich getting richer! To: What next ??? wrote on Jan 30, 2008 3:38 PM: With Fiction... (North County Times)
Investor Report: Short Sales Transactions Hot Jan 11, 2008
Take one of the most commonplace sticky situations-houses that have not just one mortgage liens against them, but two or even three: A first mortgage or trust deed, a "piggyback" second trust and a home equity line. The home owner may be four months behind on the first trust and the property may be worth $100,000 less than its original price, but all of the lenders with liens on the property need to agree on terms before a short sale can proceed. (RealtyTimes)
Despite crunch, real estate still lands big loans Dec 25, 2007
Specific loan data was provided to the Business Journal by of Denver, and based on trust deeds filed through November 2007. A trust deed -- also called deed of trust -- is a security instrument for any type of loan, where real estate is used as collateral for the loan ... Trust deeds are public documents and include loan information. (Denver Business Journal, CO)
NZ Bridgecorp receivers issue warning Dec 18, 2007
The receivers have referred potential breaches of legislation or Bridgecorp's trust deed to government authorities. They are also investigating matters including third party dealings with Bridgecorp, the activities of Bridgecorp officers, the company's financial reporting, and compliance with the Securities and Companies acts and other legislation. (Sydney Morning Herald -- Business)
Mortgage fraud scheme: Despite the woes, some walked away winners from foreclosures Dec 6, 2007
The Standard Democrat. Serving Scott, New Madrid, Mississippi And Stoddard Counties. (Skieston Standard Democrat, MO)
Is This Rally for Real? Nov 30, 2007
Or they find a trust deed for a piece of raw land that no one seems to know about. This happens all the time and it is a big mistake. (Human Events Online)
Macquarie guilty of breaches Nov 21, 2007
Macquarie Media Group spokeswoman Karen Halbert said: "Macquarie Media disputes that there was a breach of the act. When ACMA raised their concerns in May 2006, Macquarie Media immediately co-operated to resolve their concerns and revised the Debenture Trust Deed to reflect the original intent of the agreement.". send photos, videos & tip-offs to 0424 SMS SMH (+61 424 767 764), or us. (Sydney Morning Herald -- Business)
Superannuation: Withdrawing your superannuation Nov 21, 2007
If you haven't done this, the trustee decides who they pay the money to based on what is set out in the trust deed ... The trust deed will tell the trustees what to do in this situation, but usually there will be a pension-type payment until you return to work. (Sydney Morning Herald -- Business)
Superannuation: Regulation, complaints & disputes Nov 21, 2007
a copy of the trust deed and the insurance contract (if relevant). a current statement of benefits. (Sydney Morning Herald -- Business)
Israel Perseveres Nov 20, 2007
That was, and is, a trust deed, conferred to a people humble by earthly standards. And especially since there never was a republic or nation or government of Palestinians, that trust deed is still in effect ... But we felt everywhere among the Israelis the sense, the confidence, that can only come from the assurance of a divine right, an irrevocable trust deed that guarantees their existence in their land. (Newsmax)
Jacko -- Backo Against Wall in Neverland Default! Nov 13, 2007
The notice specifically states that "a breach of, and default in, the obligations for which the Trust Deed is security -- has occurred" -- because payment hasn't been made. A silver lining for the King of Pop. (TMZ.com)
Wine trust locks horns with MPs Nov 8, 2007
Even if some of them were overseas, he said, the trust deed provided for a teleconference. He said that as the trust was strapped for cash, if trustees were travelling overseas on Sawit business, they should be made to pay the travel costs of Tshililo Ramabulana and Masiphula Mbongwa. (Business Report, South Africa)
Golding to swoop on KWV Oct 31, 2007
"We're exploring at least three different options with Phetogo Holdings and are also looking at the formation of a special purpose vehicle where we might not have to sell. That should be finalised next week.'' Pieterse acknowledged that industry speculation that Bawsi stood to make R30 million if it sold its shares was "close". Asked if Bawsi came under ministerial pressure not to sell its shares, Pieterse said the association was a sovereign organisation and was governed by its constitution,... (Business Report, South Africa)
Borrowing between friends just got easier Oct 25, 2007
Mortgage loans also might need a trust deed and a lien on the property to be filed with the county. If the interest on the loan is deductible, whoever collects the payments needs to report to the IRS the amount of interest paid by the borrower and received by the lender. (Fresno Bee -- Business)
Running Horse battle still looms Oct 13, 2007
Attorneys representing the subcontractors will argue they have priority because they performed their services before La Jolla filed a trust deed on May 12, 2005. La Jolla did not object to giving Evans more time to find a new owner. (Fresno Bee)
2 comment(s) Valley Center dog attack case set for criminal trial Oct 9, 2007
She said she has taken a second and third trust deed out on her house, and her husband turned in his life insurance policy last month to cover other expenses. The debt, coupled with the fact that Matthews isn't able to work because of physical pain and a "paralyzing" fear of dogs, has left the family financially burdened, she said. (North County Times)
Best Denki Co., Ltd UK Regulatory Announcement: Conversion of Securities Oct 4, 2007
6 of the Trust Deed with respect to the Bonds, the Conversion Price of the Bonds shall be adjusted as follows: Conversion Price before adjustment: Yen 846 Conversion Price after adjustment: Yen 844. 4 Effective date: October 5, 2007 (Japan time). (BusinessWire)
BMB Munai, Inc. Extends Expiration of Exchange Offer for Its Convertible Notes to September 18, 2007 Sep 11, 2007
0 per cent. Convertible Notes due 2012 issued pursuant to a Trust Deed dated July 13, 2007 (the "Original Notes") the opportunity to exchange all of their Original Notes for U.S. $60,000,000 5. 0 per cent Convertible Senior Notes due 2012 to be issued pursuant to a New York law-governed trust indenture to be entered into on the closing of the exchange offer. (PR Newswire)
NZ trustees to get wider powers Sep 7, 2007
Trustee companies currently had limited ability to act unless a company has breached its trust deed, Ms Edwards said. "We certainly recognise that the additional regulations that the Securities Commission is recommending bringing in will give us a lot more power, and we're very supportive of that.". (Sydney Morning Herald -- Business)
NZ finance company Nathans collapses Aug 20, 2007
Nathans' trustee Perpetual Trust was in talks with the finance company's directors and said it had found the company in breach of its trust deed. A spokesman said he could not say how much the company owed, but another statement was due out on Tuesday morning. (Sydney Morning Herald -- Business)
BMB Munai, Inc. Announces Offer to Exchange Convertible Notes Aug 11, 2007
0 per cent. Convertible Notes due 2012 of the Company issued pursuant to a Trust Deed dated July 13, 2007 (the "Original Notes"). BMB Munai was required to commence the exchange offer under the terms of the Trust Deed. (PR Newswire)
Bendigo Bank Ld UK Regulatory Announcement: Publication of a prospectus Jul 30, 2007
This Note is one of a Series (as defined below) of Notes issued by Bendigo Bank Limited (ABN 11 068 049 178) (the Issuer ) constituted by a trust deed (such trust deed as modified and/or supplemented and/or restated from time to time, the Trust Deed ) dated 15 May 1998 between the Issuer and BNY Corporate Trustee Services Limited, formerly J.P. Morgan Trustee and Depositary Company Limited (the Trustee , which expression shall include any successor as trustee) ... The Trustee acts for the... (BusinessWire)
Going with the flow Jul 30, 2007
They financed their venture by taking out a second trust deed for $35,000 each on their respective homes. They used the $70,000 to open their first ComputerLand store on Convoy Street in Kearny Mesa in 1977. (San Diego Union-Tribune)
Excessive fees on funds Jul 12, 2007
Legislation should be introduced, forcing ERFs to produce their own trust deed and provide audited financial statements which clearly show income and expenditure associated with the management of the fund. Bresnahan also wants the trustees of all super funds to formally review their nominated ERF at least every three years. (Sydney Morning Herald -- Business)
Labor & your groceries: Chains can afford to share the wealth Jun 22, 2007
No, neither is germane but he holds them up like holding a cross before a vampire, and demands "respect. An employers duty is to pay as little as possible so as to make a profit and repay investors. An employee's job is to find a job that he/she can do that pays the most money, commensurate with their education, skill, and/or physical drive. Business is not a charity. Doesn't ANYONE teach basic economics any more? (That is an apocryphal question, and if you don't understand the word that is why... (North County Times)
24-Year-Old Maverick Millionaire Promotes Gen X/Y Financial Responsibility in New Book Jun 16, 2007
Today, at age 24, Jordan owns a multi-million-dollar trust deed investment company in Las Vegas, NV, called Diamond Bay Investments. According to a recent survey, 80% of 18- to 25-year-olds listed getting rich as their most important goal; however, 63% said their most important problem was money and finances. (Yahoo News -- Press Releases)
Philanthropist's trust halts plan to share masterpiece Jun 7, 2007
6 million Tom Roberts masterpiece has been halted by the Supreme Court because of a trust deed dating back to the reign of King George V.. The 1894 painting, Mosman's Bay, was one of 1000 works donated by the philanthropist and collector Howard Hinton in the 1930s and '40s to the "Teachers' Training College of His Majesty at Armidale" after the collector fell out with the Art Gallery of NSW.. (Sydney Morning Herald -- Entertainment)
Half is better than none May 30, 2007
I understand that and suggest that perhaps you go 60% of the way with a new 15 year loan for 60% of what you owe and the rest in a HELOC or second trust deed ... I understand that and suggest that perhaps you go 60% of the way with a new 15 year loan for 60% of what you owe and the rest in a HELOC or second trust deed. (Townhall.com)
Housing Counsel: Working With Real Estate Professionals May 21, 2007
Hopefully, you will never hear from the trustee until you have paid off your loan and will have the trust deed released from the land records. Real estate attorney: as a buyer, you have the right to retain an attorney of your choice to represent you during the entire transaction from contract negotiation through settlement. (RealtyTimes)
Housing Counsel: Taking Back a Second Trust May 14, 2007
Some states still use mortgages, which in effect provides a lender with the same security as does the trust deed. The basic difference, however, between a deed of trust and a mortgage is that where there is a mortgage, the lender will have to go to court to force a sale. (RealtyTimes)
Rev Up Your IRA May 9, 2007
True diversification encompasses a variety of investments including securities, debt instruments (such as first trust deeds or REITs) and real estate. This article explains the parameters for investing IRA funds in first trust deeds, REITs and land as investment alternatives for your IRA that you may be unfamiliar with ... When investing in trust deeds, REITs or land, the custodian will actually make the investment for you from your IRA account. (Forbes)
Going For Broke! May 5, 2007
In Scotland, the equivalent of personal bankruptcy is known as Sequestration, and the equivalent of an IVA is a Protected Trust Deed ... ProtectedTrust Deeds. (Sky News)
Standard Pacific Corp. Reports 2007 First Quarter Results Apr 27, 2007
STANDARD PACIFIC CORP AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in thousands) March 31, December 31, 2007 2006 ASSETS (unaudited) Homebuilding: Cash and equivalents $3,842 $17,376 Trade and other receivables 46,812 77,725 Inventories: Owned 3,140,784 3,268,788 Not owned 199,039 203,197 Investments in and advances to unconsolidated joint ventures 303,371 310,699 Deferred income taxes 209,858 185,268 Goodwill and other intangibles, net 102,167 102,624 Other assets 65,688... (PR Newswire)
Experts' responses Apr 26, 2007
This is a clear warning to all cohabiting couples to enter into a trust deed or co-habitation agreement at the very beginning. This may be very difficult advice for the rose-tinted love struck couple who think nothing will ever go wrong, but by having one they can potentially save thousands of pounds and huge amounts of grief and bitterness if the relationship breaks down. (Times Online)
The Market Doesn't Matter Apr 9, 2007
A higher interest second would be obtained for part of the financing and the seller would carry a reasonable third trust deed for the balance. We would wind up with a "blended" rate equivalent to 11 or 12 percent. (RealtyTimes)
Condo project seeks haven Mar 21, 2007
Nevada State Bank holds a $17 million first trust deed loan on the property, followed by OneCap Mortgage, a private lender, with a $6 million second trust deed loan. The Las Vegas market is strong, Ryan Langson said. (Las Vegas Review-Journal -- Business)
INSIDE BUSINESS Mar 20, 2007
Builder's Capital, a commercial real estate lending and trust deed investment firm, named Janet Avance administration director. Martin n Civil Engineers and Surveyors named Patrick Dow project manager. (Las Vegas Review-Journal -- Business)
USA Capital yields reins to Compass Partners Mar 15, 2007
Compass Partners was the high bidder at a bankruptcy court auction Monday and paid $67 million to USA Capital for the right to service most of the outstanding loans and for the assets of one of two investment funds, USA Capital First Trust Deed Fund ... About 6,000 investors around the country bought fractional interests in trust deed loans or invested in the two loan investment funds managed by USA Capital ... The bankruptcy court has appointed a trustee for USA Commercial, the former loan... (Las Vegas Review-Journal -- Business)
Compass Partners hopes to resolve loans in 2007 Feb 23, 2007
Compass bought the loans held by USA Capital Trust Deed Fund, one of two mortgage loan investment funds managed by USA Capital ... The plan of reorganization designates Geoffrey Berman of Los Angeles as the trustee for the USA Commercial Mortgage Trust and Michael Tucker of Phoenix as the administrator of the USA Diversified Trust Deed Fund. (Las Vegas Review-Journal -- Business)
REITs a liquid proxy to physical real estate Feb 5, 2007
In Malaysia, REITs are governed by the Securities Commissions Guidelines on REITs, and the respective REITs Trust Deed. Assets under the REIT are held in trust by a Trustee while the properties are managed by a REIT manager. (The Star Online, Malaysia -- Business)
Judge allows Tree Moss bankruptcy Jan 30, 2007
USA Capital, a private lender controlling $962 million in assets, solicited money from investors and used the money to make short-term, or trust deed, loans that were secured by real estate ... USA Investment Partners owns Tree Moss Partners, which owes the USA Capital Diversified Trust Deed Fund, one of two USA Capital funds, $22 million. (Las Vegas Review-Journal -- Business)
Foreclosures Soar As Prince's House Sits On Market for $135 Million Jan 26, 2007
He admits he became overextended when he took out a second trust deed on his adjustable rate mortgage, and then got caught in a financial down draft when adjustable rates began climbing last year. His three-bedroom, two-bath starter home is now in the hands of his lender. (ABC News)
USA Capital dissidents follow wrong protocol, judge decides Jan 23, 2007
Investors were attracted by high interest rates, typically around 12 percent, that they could earn on the so-called trust deed loans. When borrowers stopped paying on mortgage loans, however, USA Capital continued paying interest and principal on loans as if the past-due borrowers were current. (Las Vegas Review-Journal -- Business)
Ask George & Chuck: Questions from Consumers Jan 23, 2007
Question (CA): Re: Inquiry concerning EMC Mortgage problem from California borrower: Last time I checked, under California law, insurance proceeds for flood damage are not part of the security for the trust deed unless flood damage specifically mentioned in the trust deed as a category of required insurance. I actually won a case where the trust deed did not specifically mention wind damage, and received the insurance proceeds after they were held at the lender's order for six years ... You... (RealtyTimes)
Reorganization plan for USA Capital in jeopardy Jan 19, 2007
Earlier this month, Smith explained that his group of 300 investors wanted the ability to cancel loan servicing agreements that Compass Partners of New York agreed to buy along with assets from the USA Capital First Trust Deed Fund for $67 million. In the worst case scenario, USA Capital may run out of money and be forced into Chapter 7 bankruptcy, which calls for liquidation of assets, said Mark Olson, chief operating officer for USA Capital. (Las Vegas Review-Journal -- Business)
USA Capital's failure creates painful fallout for investors Jan 18, 2007
These investors could make 12 percent on a typical first trust deed or mortgage loan with first priority for payment. "Where in the world am I going to get 12 percent," they would say, according to Olson. (Las Vegas Review-Journal -- Business)
Probe into SAA share scheme is still on course Jan 8, 2007
The report says: "The initial trustees did not do anything. In consequence, they were in breach of their duties under the trust deed and under the Trust Properties Control Act.". In terms of the rules of the scheme, the share price would be set by a third party, based on a valuation of SAA on March 31 each year. (Business Report, South Africa)
Procedures set for $9.75 million feud Jan 5, 2007
One will be a new USA Capital Diversified Trust Deed Fund, and the second will be the USA Capital Liquidating Trust. The two entities are expected to file lawsuits against former insiders at USA Capital in an effort to secure assets for the benefit of creditors and investors in USA Capital. (Las Vegas Review-Journal -- Business)
Judge tells man not to spend proceeds from sale of hotel Dec 29, 2006
USA Capital solicited money from individual investors and used the money to make short-term, so-called trust deed loans secured by real estate. Its Diversified fund pooled investor money to make numerous loans, but other investors bought fractional interests in specific loans. (Las Vegas Review-Journal -- Business)
Debt Can Lead To Profit Dec 24, 2006
The Scottish equivalent of an IVA is a Protected Trust Deed ... New trust deed appointments signed in October and November are up 44. (Sky News)
Judge will confirm USA Capital reorganization plan Dec 22, 2006
The New York company, which submitted a winning bid of $67 million, also is buying the assets of USA Capital First Trust Deed Fund, one of two mortgage loan funds managed by USA Capital ... USA Capital solicited money from individual investors around the country and used the money to make short-term mortgage loans secured by real estate, sometimes called trust deeds ... Compass intends to continue originating trust deed loans and working out problems with the remaining loans. (Las Vegas Review-Journal -- Business)
Judge calls for trustee to watch deal involving USA Capital fund Dec 22, 2006
Judge Linda Riegle on Tuesday ordered the appointment of a trustee to protect the interests of USA Capital Diversified Trust Deed Fund investors in Hotel Zoso, a property in Palm Springs, Calif ... The company solicited money from investors including Reale and made short-term, or trust deed, loans to developers. (San Diego Union-Tribune -- Business)
Mortgage lender sparks bid battle Dec 8, 2006
Others invested through USA First Trust Deed Fund and USA Diversified Trust Deed Fund, which served like mutual funds for these real estate-backed loans ... 5 million to buy out investors in the First Trust Deed Fund ... Attorney Frank Merola for the First Trust Deed Fund said he hopes investors in the First Trust Deed fund will get a check from Compass for the fund's assets by March. (Las Vegas Review-Journal -- Business)
Tempers flare at USA Capital session Dec 6, 2006
Some investors bought fractional interests in the secured loans, sometimes called trust deeds, but others invested in one of two funds that operated like mutual funds for trust deeds ... Silver Point or another bidder will buy assets from USA Capital First Trust Deed Fund and will have financial interests aligned with direct lenders, Bullard said. (Las Vegas Review-Journal -- Business)
Business Events Calendar Nov 27, 2006
An informal investment mixer to introduce local investors to the opportunities available in the trust deed investment market. Sponsored by Commercial Services Group of Universal Mortgage. (Fresno Bee)
DIY super fund owners don't have to go it alone Nov 18, 2006
Obtaining a trust deed is the first step, says Peter Kelly, technical services manager at advisory firm Professional Investment Services ... Brett Davis, of the tax and superannuation specialist law firm Brett Davis Partners, runs the LawCentral website, which enables clients to log on and buy a trust deed for their self-managed funds ... "The self-managed trust deed is one of the most popular documents on that website," Davis says. (Sydney Morning Herald -- Business)
Ask Realty Times Nov 17, 2006
He is not yet on the trust deed -- it is only in my name ... Is that correct -- or must he be on the trust deed first. (RealtyTimes)
USA Capital documents get approval Nov 14, 2006
USA Capital First Trust Deed Fund, a fund registered with the Securities and Exchange Commission, is expected to recover 65 cents on the dollar for its investors ... Silver Point is a first bidder, or a stalking horse, but another firm may win the First Trust Deed assets and loan servicing contract based on a higher bid than Silver Point's. (Las Vegas Review-Journal -- Business)
A fistful of dollars Nov 11, 2006
" The Herald has requested a paper copy of the Telstra Growthshare Trust Deed from the Securities and Exchange Commission. Telstra has ADRs listed on the New York Stock Exchange, which has a stricter disclosure regime than the Australian Stock Exchange when it comes to issues of equity for company executives. Potentially, this clause could cost shareholders millions of dollars and remove an incentive for key executives. Kerin has another point. "Telstra is wasting the LTIs by spreading them over... (Sydney Morning Herald -- Business)
Lawyer bids to seal records Nov 10, 2006
The private lender solicited money from individual investors and used the money to make short-term mortgage loans, sometimes called trust deeds, to developers ... Direct lenders, investors who bought fractional interests in trust deeds, will keep their rights under loan documents ... The plan provides for sale of loan servicing agreements, except those in which the USA Capital Diversified Trust Deed Fund is the sole or main lender. (Las Vegas Review-Journal -- Business)
Opaque trusts are the black hole of BEE's roll-out Oct 31, 2006
To be registered a trust must file a trust deed, which governs its working, with the master's office. While the trust deed and the names of the trustees are public information, everything else about the trust and its workings is not. (Business Report, South Africa)
Fees totaling $6.6 million OK'd in USA Capital case Sep 30, 2006
The lawyers' fees will not come out of interest and principal payments made to investors who were so-called direct lenders and own fractional interests in mortgage loans, sometimes called trust deeds ... Riegle authorized Stutman Treister & Glatt of Los Angeles, an attorney for USA Capital First Trust Deed Fund, to receive $565,000; Shea & Carlyon, the local law firm for the First Trust fund, $297,000; Orrick, Herrington & Sutcliffe, the Sacramento, Calif. (Las Vegas Review-Journal -- Business)
USA CAPITAL CASE: Managers to sell assets of one fund Sep 14, 2006
The terms of the agreement were not disclosed, but investors in USA Capital First Trust Deed Fund would receive a payment for their share of the payment made by Silver Point ... Investors in the First Trust Deed Fund might recover additional payments from assets that the estate recovers for creditors ... In addition, First Trust Deed investors received $1. (Las Vegas Review-Journal -- Business)
Lender talking new plan Sep 1, 2006
Investors either purchased fractional interests in specific mortgage loans or so-called trust deeds, or they bought shares in two funds that pooled investor funds to make numerous loans ... USA Capital First Trust Deed Fund was sent a check earlier, and checks to investors in that fund were being mailed Thursday, said Candace Carlyon, an attorney for the fund's committee ... Investors in a second fund called USA Capital Diversified Trust Deed Fund did not get distributions in the first round and... (Las Vegas Review-Journal -- Business)
