April 6, 2012

Beacon Roofing has entered into $565 million of new five-year credit agreements consisting of a $550 million U.S. credit facility and a C$15 million Canadian credit facility with Wells Fargo Bank, National Association as administrative agent and as a lender. Other lenders also participated. 

January 23, 2012

Standard & Poor's Ratings Services has lowered its rating on the unsecured notes of Building FirstSource to 'CC' from 'CCC-' and revised its recovery rating to '6' from '5' to reflect diminished recovery prospects, given a higher level of first-lien obligations, the credit rating company announced. The '6' recovery rating indicates an expectation for a negligible (0% to 10%) recovery in the event of a payment default.

December 2, 2011

The National Lumber and Building Material Dealers Association (NLBMDA) applauded Congress for reinstating the higher conforming loan limits for the Federal Housing Administration (FHA) through 2013, helping reduce uncertainty for an already fragile housing market. 

By increasing the loan limits guaranteed by FHA to $729,750, Congress has taken a step to stabilize home values while enabling creditworthy consumers to get home loans with the best mortgage rates, lowest fees and better down payment requirements, the NLBMDA said.

October 17, 2011

Louisiana-Pacific Corp. one of the industry’s leading suppliers of oriented strand board and other building materials, has announced a $100 million extension to its revolving credit agreement with its lenders and Bank of America, N.A., as administrative agent.

Among other changes, the fourth amendment:

August 17, 2011

BlueLinx Holdings, a leading distributor of building products in North America, announced that its indirect subsidiary BlueLinx Building Products Canada has entered into a revolving credit agreement with CIBC Asset-Based Lending. The new credit facility provides for borrowing capacity of up to $10 million and has a term of three years, maturing on Aug. 12, 2014.

June 7, 2011

BuildFax, the national database of building permit activity and creator of the BuildFax Remodeling Index, has joined forces with Equifax, one of the nation’s largest credit monitoring firms. The new partnership will give property and casualty insurance carriers immediate access to property history information, improving the accuracy of their underwriting to develop better pricing strategies and reduce the potential for fraud.  

June 7, 2011

A study released today by CoreLogic, a real estate data and analysis firm, indicates that 38% of homeowners who took out home equity loans on their houses were “underwater” at the end of the first quarter of 2011, compared with 18% of borrowers with no home equity loans. More than 40% (4.5 million) of all negative equity borrowers have home equity loans.

May 20, 2011

A federal grand jury has indicted Ronald Kiser, a former credit specialist for G.E. Consumer Finance, with bank fraud for diverting $465,000 worth of checks into his mother’s bank account. Kiser, 40, handled the Lowe’s account for G.E. 

May 11, 2011

Building Industry Partners (BIP), a private equity investment and mergers & acquisitions advisory firm specializing in the middle-market U.S. building industry, has announced the formation of its Debt Advisory & Placement Practice, which will leverage its relationships with the lender community to advise building products companies in restructuring and/or refinancing existing loans, as well as sourcing and optimizing terms on new senior, mezzanine and/or other debt capital.

April 7, 2011

The National Association of Home Builders is among the industry groups lining up against a planned 20% down payment rule for qualified residential mortgages. Here's what we heard from readers.

"I believe a 20% down payment would end up making a much healthier housing industry in the long run." — Tim Stine Stine Lumber

November 29, 2010

Builders FirstSource has announced the amendment of a 2007 senior secured revolving credit facility that...

October 3, 2010

The September issue of Home Channel News included an item about the origin of Do...

October 29, 2008

The home builder delivered 555 homes in the third quarter, down 29 percent from 787...

September 4, 2008

A credit manager and a commercial bankruptcy attorney will give expert advice on how to...

August 10, 2008

Building Materials Holding Corp. can borrow up to $60 million through Sept. 30 while it...

July 29, 2008

The San Francisco-based pro dealer is “in discussions” with its lenders over a failure to...

February 3, 2008

The San Francisco-based pro dealer is asking for a temporary waiver of covenants and a...