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NAHREP Dallas April 2010 Newsltter
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Citi Wows Street with $4.4
Billion Dollar Profit
April 2010
N a t i o n a l A s s o c i a t i o n o f H i s p a n i c R e a l E s t a t e P r o f e s s i o n a l s
NEW YORK (CNNMoney.com) -- Citigroup delivered its strongest results since the start of the financial crisis, as the banking giant reported a first-quarter profit of $4.4 billion Monday.
Earnings for the bank, one of the hardest hit insti-tutions in the financial crisis, easily shattered Wall Street estimates. On a per share basis the company said it earned 15 cents. Analysts polled by Thom-son Reuters expected the company to break even for the quarter.
Citigroup (C, Fortune 500) shares, which are up
55% from a year ago, gained over 3% in afternoon trading on the news.
Investors have been anxious for Citigroup to return
to a sustained level of profitability after the bank endured billions of dollars in losses over the past two years. The latest results, Citi's biggest profit since the second quarter of 2007, suggest that it
may have finally found its footing.
"Citi today is fundamentally a very different com-pany from what it was only two years ago," Citi-group CEO Vikram Pandit said in a statement.
The company also made a point of disclosing it was not involved with last Friday's announcement by the Securities and Exchange Commission, which
alleged that competitor Goldman Sachs defrauded investors in a sale of securities tied to subprime mortgages.
By David Ellis, staff writer CNN Money
Newsletter Design and Layout by
Need more information
about NAHREP?
Contact: Alfred Rodriguez 469-767-9681
JoAnn Burgos, 469-682-8284
Alex Streng,
469-233-9504 [email protected]
NAHREP 2010
Executive Board
Alfred C. Rodriguez
President
JoAnn Burgos President Elect
Alex Streng - Secretary
Mark J. Ciolfi - Treasurer
Joe Velazquez
Parliamentarian
Jose "Pepe" Fernandez Membership Director
Guillermo Ramos
Board Member at Large
Maria Samano Board Member at Large
Robert Preston
Immediate Past President
Now you can join
NAHREP DALLAS on
Place your business
card here and
advertise $75.00
for three months
See Our Newsletter on Facebook
NAHREP Dallas will be launching its new website and logo in the next few weeks!
A Word from the President
Alfred Rodriguez
Hurry Hurry Hurry Rush Rush Rush, it seems that is how we live these days
and especially when we are under the gun trying to service all our clients in a professional and timely
manner, also dealing with all the challenges that come our way both per-
sonally and professionally. Now take a few minutes to analyze yourself. Take some time to check on your health. When was the last time you had a medical checkup.
Blood pressure, diabetes, heart, etc. If we do not take the time to check on our own health then we only doing ourselves harm and especially hurting those who may be counting on us to be
there for them (our families). If you think you are not healthy enough or not getting enough exercise then go see your doctor for advice. We
constantly have changes in our lives that create stress but exercise; good eating habits will help deal with those issues. I realize that our commis-sion checks are our priory but our health needs
to be a priory as well. Each of you are important to your families (Husbands, wives, and children). Take time to focus on what is important, your
health. You are important to me and to the NAHREP family.
The NAHREP March 2010 Luncheon Contacts: Treasury Public Affairs, (202) 622-2960
HUD Public Affairs, (202) 708-0980
ADMINISTRATION RELEASES MARCH LOAN MODIFICATION REPORT
Homeowners Have Saved a Cumulative $3
Billion Under HAMP to Date
WASHINGTON - The U.S. Department of the Treasury and the Department of Hous-ing and Urban Development today released March data for the Administration's Home Affordable Modification Program (HAMP). As of the end of the month, more than 1.4 million homeowners received offers for trial modifications, and more than 1.1 million borrowers were receiving a median savings of $500 each month. Perma-nent modifications have been granted to more than 230,000 homeowners, and an additional 108,000 permanent modifications have been approved by servicers and are pending only borrower acceptance. Homeowners' lower monthly mortgage pay-
ments under HAMP represent a cumulative savings of more than $3 billion.
Over 230,000 Homeowners Granted Permanent Modifications
•More than 230,000 total permanent modifications have been granted to home-owners, who are guaranteed lower payments for five years. •In addition, more than 108,000permanent modifications have been approved by servicers and are pending borrower acceptance. Over 1.1 Million Trial Modifications for Homeowners
•More than 1.1 million trial modifications have begun under the program. •57,000 new trial modifications were added in March, down from 72,000 in Feb-ruary, reflecting servicers increasingly requiring upfront documentation from homeowners to comply with pending HAMP policy requirements. •Borrowers realize immediate relief with the first trial payment. •More than 1.4 million homeowners have received offers for trial modifications. •Of the 1 million borrowers in active modifications (trial and permanent), more than 227,000 borrowers are in permanent modifications. •The lower monthly mortgage payments for homeowners in HAMP represent a cumulative reduction of over $3 billion. Servicers Making Progress on Trial Modification Decisions
•Over 60,000 trial modifications converted to permanent modifications in March, an increase of almost 15% from the nearly 53,000 in February.
Join us every 3rd Tuesday of the month for our Luncheon
@ El Fenix in the West End
Networking 11:00 am—11:30 am
Meeting: 11:30 am—1:00 pm
The first 10 Real Estate Agents (with a business card) who have never attended a
NAHREP of Dallas Luncheon will enjoy their next lunch FREE!!!
The NAHREP March 2010 Luncheon Contacts: Treasury Public Affairs, (202) 622-2960
HUD Public Affairs, (202) 708-0980
ADMINISTRATION RELEASES MARCH LOAN MODIFICATION REPORT
Homeowners Have Saved a Cumulative $3
Billion Under HAMP to Date
WASHINGTON - The U.S. Department of the Treasury and the Department of Hous-ing and Urban Development today released March data for the Administration's Home Affordable Modification Program (HAMP). As of the end of the month, more than 1.4 million homeowners received offers for trial modifications, and more than 1.1 million borrowers were receiving a median savings of $500 each month. Perma-nent modifications have been granted to more than 230,000 homeowners, and an additional 108,000 permanent modifications have been approved by servicers and are pending only borrower acceptance. Homeowners' lower monthly mortgage pay-
ments under HAMP represent a cumulative savings of more than $3 billion.
Over 230,000 Homeowners Granted Permanent Modifications
•More than 230,000 total permanent modifications have been granted to home-owners, who are guaranteed lower payments for five years. •In addition, more than 108,000permanent modifications have been approved by servicers and are pending borrower acceptance. Over 1.1 Million Trial Modifications for Homeowners
•More than 1.1 million trial modifications have begun under the program. •57,000 new trial modifications were added in March, down from 72,000 in Feb-ruary, reflecting servicers increasingly requiring upfront documentation from homeowners to comply with pending HAMP policy requirements. •Borrowers realize immediate relief with the first trial payment. •More than 1.4 million homeowners have received offers for trial modifications. •Of the 1 million borrowers in active modifications (trial and permanent), more than 227,000 borrowers are in permanent modifications. •The lower monthly mortgage payments for homeowners in HAMP represent a cumulative reduction of over $3 billion. Servicers Making Progress on Trial Modification Decisions
•Over 60,000 trial modifications converted to permanent modifications in March, an increase of almost 15% from the nearly 53,000 in February.
Join us every 3rd Tuesday of the month for our Luncheon
@ El Fenix in the West End
Networking 11:00 am—11:30 am
Meeting: 11:30 am—1:00 pm
The first 10 Real Estate Agents (with a business card) who have never attended a
NAHREP of Dallas Luncheon will enjoy their next lunch FREE!!!
Citi Wows Street with $4.4
Billion Dollar Profit
April 2010
N a t i o n a l A s s o c i a t i o n o f H i s p a n i c R e a l E s t a t e P r o f e s s i o n a l s
NEW YORK (CNNMoney.com) -- Citigroup delivered its strongest results since the start of the financial crisis, as the banking giant reported a first-quarter profit of $4.4 billion Monday.
Earnings for the bank, one of the hardest hit insti-tutions in the financial crisis, easily shattered Wall Street estimates. On a per share basis the company said it earned 15 cents. Analysts polled by Thom-son Reuters expected the company to break even for the quarter.
Citigroup (C, Fortune 500) shares, which are up
55% from a year ago, gained over 3% in afternoon trading on the news.
Investors have been anxious for Citigroup to return
to a sustained level of profitability after the bank endured billions of dollars in losses over the past two years. The latest results, Citi's biggest profit since the second quarter of 2007, suggest that it
may have finally found its footing.
"Citi today is fundamentally a very different com-pany from what it was only two years ago," Citi-group CEO Vikram Pandit said in a statement.
The company also made a point of disclosing it was not involved with last Friday's announcement by the Securities and Exchange Commission, which
alleged that competitor Goldman Sachs defrauded investors in a sale of securities tied to subprime mortgages.
By David Ellis, staff writer CNN Money
Newsletter Design and Layout by
Need more information
about NAHREP?
Contact: Alfred Rodriguez 469-767-9681
JoAnn Burgos, 469-682-8284
Alex Streng,
469-233-9504 [email protected]
NAHREP 2010
Executive Board
Alfred C. Rodriguez
President
JoAnn Burgos President Elect
Alex Streng - Secretary
Mark J. Ciolfi - Treasurer
Joe Velazquez
Parliamentarian
Jose "Pepe" Fernandez Membership Director
Guillermo Ramos
Board Member at Large
Maria Samano Board Member at Large
Robert Preston
Immediate Past President
Now you can join
NAHREP DALLAS on
Place your business
card here and
advertise $75.00
for three months
See Our Newsletter on Facebook
NAHREP Dallas will be launching its new website and logo in the next few weeks!
A Word from the President
Alfred Rodriguez
Hurry Hurry Hurry Rush Rush Rush, it seems that is how we live these days
and especially when we are under the gun trying to service all our clients in a professional and timely
manner, also dealing with all the challenges that come our way both per-
sonally and professionally. Now take a few minutes to analyze yourself. Take some time to check on your health. When was the last time you had a medical checkup.
Blood pressure, diabetes, heart, etc. If we do not take the time to check on our own health then we only doing ourselves harm and especially hurting those who may be counting on us to be
there for them (our families). If you think you are not healthy enough or not getting enough exercise then go see your doctor for advice. We
constantly have changes in our lives that create stress but exercise; good eating habits will help deal with those issues. I realize that our commis-sion checks are our priory but our health needs
to be a priory as well. Each of you are important to your families (Husbands, wives, and children). Take time to focus on what is important, your
health. You are important to me and to the NAHREP family.
