"Pulte Homes, which announced plans eight months ago to slash its nationwide work force by 16 percent, is cutting 55 jobs in the Washington and Baltimore areas, about 20 percent of its local work force.
The Bloomfield Hills, Mich.-based homebuilder says it has consolidated its Baltimore and Washington operations under one management team, with the most of its local work force to be concentrated at its Fairfax offices. It will keep sales and support staff in both Washington and Baltimore, according to Pulte spokeswoman Melanie Hearsh.
Lou Baker, president of Pulte's Maryland division, will oversee both markets. Pulte will still have about 230 area employees.
Pulte Homes lost $787.9 million in the third quarter, compared to $191.5 million in profits in the same quarter a year ago. The company's orders fell 37 percent. It will report fourth quarter results Jan. 31."
Tuesday, January 22, 2008
Pulte Cuts 55 Local Jobs
Posted by Harriet at 10:24 AM
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3 comments:
Another seller of overpriced junk that starts falling apart in a few years.
It is not here... yet
To: All Flagstar Bank Wholesale Lending Customers
From: Wholesale Lending
Subject: New FHA $100 HUD Repo Program
Date: 1/18/08
Memo #: 08019
SUBJECT AND EFFECTIVE DATE
Effective Friday, January 18, 2008, Flagstar is offering a new suite of Federal Housing Administration (FHA) products to accommodate a U.S. Department of Housing and Urban Development (HUD) program that allows borrowers to buy a HUD-owned home with only a $100 downpayment. The new program is the FHA $100 HUD Repo program (Doc. #5813).
HUD’s program also includes additional borrower incentives in some markets that may be as high as $2,500 that can be used toward closing costs and prepaid expenses. In more limited markets, selling real estate agents may also be eligible for up to $500 in sales incentives when borrowers choose certain FHA financing. These incentives are provided by HUD, not by Flagstar, and may be changed or discontinued by HUD at any time.
FHA $100 HUD REPO PROGRAM
The new products are available in all states/territories within which HUD is currently offering its $100 down program. Those states and territories are: Alabama, Arkansas, Colorado, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Michigan, Minnesota, Mississippi, Montana, Nebraska, New Mexico, North Dakota, Ohio, Pennsylvania (ONLY eligible in the following counties: Bucks, Chester, Delaware, Montgomery and Philadelphia), North Carolina, South Carolina, South Dakota, Tennessee, Texas, Utah, Wisconsin, Wyoming and the U.S. Virgin Islands.
FHA 203(b) product options are available for one- to four-unit properties, and FHA 234(c) product options are available for condominiums. The product names you will see in Loantrac are as follows:
Product Name
Term
• FHA $100 HUD Repo 203(b) 30-Year
30 years
• FHA $100 HUD Repo 203(b) 25-Year
25 years
• FHA $100 HUD Repo 203(b) 20-Year
20 years
• FHA $100 HUD Repo 203(b) 15-Year
15 years
• FHA $100 HUD Repo 203(b) 10-Year
10 years
• FHA $100 HUD Repo 203(b) 1/1 ARM
30 years
• FHA $100 HUD Repo 203(b) 3/1 ARM
30 years
• FHA $100 HUD Repo 203(b) 5/1 ARM
30 years
• FHA $100 HUD Repo 234(c) Condo Unit 30-Year
30 years
• FHA $100 HUD Repo 234(c) Condo Unit 25-Year
25 years
• FHA $100 HUD Repo 234(c) Condo Unit 20-Year
20 years
• FHA $100 HUD Repo 234(c) Condo Unit 15-Year
15 years
• FHA $100 HUD Repo 234(c) Condo Unit 10-Year
10 years
• FHA $100 HUD Repo 234(c) 1/1 ARM
30 years
• FHA $100 HUD Repo 234(c) 3/1 ARM
30 years
• FHA $100 HUD Repo 234(c) 5/1 ARM
30 years
Underwriting
All FHA $100 HUD Repo loans will be manually underwritten according to standard FHA guidelines. However, borrowers are not required to make the normal 3% investment into the transaction.
Pricing
Loans will be priced using standard FHA rates and pricing adjustments.
CONCLUSION
To view the new program description, or for information about other Flagstar products, please refer to the Seller’s Guide available at wholesale.flagstar.com.
Thank you for your continued business.
Thanks for posting, John.
Here's the link to HUD-owned properties. I'll post this on the front page of the blog at some point.
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