by Associated Press Published: January 12,2012
Tags: banking and finance, Banks, bubble, economy, financial institutions, foreclosures, home loans, homeownership, homes, houses, loans, mortages, real estate, recession, residences, residential real estate, residents
ACROSS MISSISSIPPI — The pace of home foreclosures in Mississippi slowed substantially in 2011, following a national trend that may soon be reversed, a national foreclosure tracking firm said yesterday. Irvine, Calif.-based RealtyTrac said that in 2011, 3,172 homes in the state were hit by some sort of foreclosure action. Those range from an initial [...] [...]
NATCHEZ — The city of Natchez has borrowed $350,000 of its $400,000 tax-anticipation loan since December to help cover payroll expenses. City Clerk Donnie Holloway tells The Natchez Democrat the city originally budgeted for the $400,000 tax-anticipation loan, but he said the city would not need the additional $50,000. The Natchez Board of Aldermen approved [...] [...]
ITAWAMBA COUNTY and MONROE COUNTY — The U.S. Small Business Administration announces today that federal economic injury disaster loans are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes located in Itawamba and Monroe counties in Mississippi as a result of the excessive rain, [...] [...]
by Associated Press Published: December 9,2011
Tags: banking and finance, federal government, financial institutions, home improvements, home ownership, homeowners, homes, houses, loans, real estate, refinancing, residences, residential real estate
BILOXI — Biloxi residents learned this week about an FHA loan program that will let them borrow up to $271,050 to buy, refinance or improve their homes. The Sun Herald reports the Federal Housing Administration 203(k) loan program is designed to rehabilitate the nation’s older homes. Bo Smith, a mortgage financing expert from Jackson, says [...] [...]
by MBJ Staff Published: December 8,2011
Tags: banking and finance, Banks, community development, credit unions, economic development, federal government, financial institutions, jobs, lending, loans, small businesses
JACKSON — The U.S. Small Business Administration (SBA) has approved Hope Enterprise Corporation (HOPE) as its first lender in the Community Advantage Loan program in Mississippi. HOPE CEO Bill Bynum said, “For small, rural and minority entrepreneurs, financing can be the most elusive resource. With the Community Advantage program, we can help even more companies [...] [...]
by Associated Press Published: November 10,2011
Tags: banking and finance, Banks, brokers, courts, financial institutions, home loans, homes, houses, loans, mortgage fraud, mortgages, real erstate, residences, sentencing, trial
JACKSON — Former mortgage brokers Jason Ellis and Michael Persac will forfeit more than $3 million and pay more than $781,000 in restitution for their part in a mortgage fraud scheme. Ellis and Persac, out on bond since they were charged in 2005 in a mortgage fraud case, also are going to prison after their [...] [...]
WAVELAND — The City of Waveland has borrowed $486,000 to pay on two public works bond issues from 2004. Mayor David Garcia tells the Sea Coast Echo the city borrowed money against its anticipated 2012 property taxes. In 2004, Waveland took out two bonds totaling more than $6 million for public works projects such as [...] [...]
by MBJ Staff Published: October 26,2011
Tags: bankinf and finance, Banks, expansions, financial institutions, homeowners, homes, houses, loans, mergers and acquisitions, mortgages, real estate, residences
FLOWOOD — Magnolia State Bank has opened its new location in Flowood, and has completed the acquisition of Advantage Mortgage Corp. The new mortgage division is set to open Nov. 1 as Advantage Mortgage, A Division of Magnolia State Bank. The office is located at 437 Katherine Drive and will house seven employees. The location [...] [...]
by MBJ Staff Published: October 26,2011
Tags: banking and finance, Banks, disaster, disaster loans, disaster recovery, drought, financial institutions, heat, loans, natural disaster, severe weather, small businesses, Weather
ACROSS MISSISSIPPI — The U.S. Small Business Administration’s economic injury disaster loans are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes located in Mississippi as a result of drought and excessive heat that occurred from Jan. 1 – Aug. 30, 2011. “When the [...] [...]
JACKSON — Trustmark National Bank recently expanded its mortgage division by opening a loan production office in Hoover’s Chase Corporate Center in Birmingham, Ala. “Alabama fits perfectly into our plans to extend Trustmark’s mortgage footprint from the solid customer base we have established during the last 20 years,” said Breck Tyler, Trustmark’s executive vice president [...] [...]
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