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. 

March 20, 2012

By late 2008, Mike Petro had seen enough. It was, for many, the height of the financial mess in this country, marked by bank failures, mortgage crisis, and bailouts; in his view, the financial structure of the United States was teetering on the brink.

“Middle-class workers were taking out home equity loans to pay bills because they were maxed out on their credit cards; their 401(k) plans were shrinking,” Petro said.

December 8, 2011

The Occupy Wall Street movement, once focused on financial institutions and the unequal distribution of wealth, has broadened to include the collapse of the housing market and its effect on the American family, according to an article in the Los Angeles Times. 

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 4, 2011

A survey conducted in September at the annual Shop.org Retail Summit in Boston showed that that almost half of all retailers surveyed planned to offer eGifting this holiday season and 44% were looking at location-based deals as a key element of their mobile marketing strategy.

August 23, 2011

Bad news for the housing market was delivered Aug. 22 by the Mortgage Bankers Association, which reported that the percentage of homeowners who have missed at least one mortgage payment on their homes has risen for the second straight quarter. 

August 12, 2011

In an attempt to shore up the housing market and also provide more affordable rentals, the federal government is considering the idea of turning some of the 250,000 foreclosed homes it owns into rental units. On Aug. 10, the U.S. Department of Housing and Urban Development (HUD) announced it was seeking public input on “new options” for selling single-family homes owned by Freddie Mac and Fannie Mae. 

June 27, 2011

An analysis published by the Wall Street Journal showed that the nation’s 10 largest mortgage lenders denied 26.8% of loan applications in 2010, an increase from 23.5% in 2009. 

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.

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

April 4, 2011

The first face-to-face meeting between top bank executives and government officials over irregularities in foreclosure procedures may be followed by months of further negotiations, according to a report in the Los Angeles Times.

March 1, 2011

The Scottsdale Police Department, working with fraud investigators from eBay, Home Depot, Walmart and federal authorities, arrested 36 suspects involved in a major retail theft syndicate that returned stolen merchandise to retailers and then auctioned the gift cards on eBay, according to a Feb. 25 news release from the Maricopa County Attorney’s Office. The case has uncovered more than $1.2 million in proceeds from the crime, authorities said. 

November 29, 2010

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

November 21, 2010

This week, Pittsburgh-based Busy Beaver’s Black Friday Wow! ad hit our inboxes early....

October 11, 2010

84 Lumber will receive a $5 million low-interest loan from Washington County, Pa., as part...

October 3, 2010

The ability to bring instant credit to the sales floor of Ace Hardware stores is...

October 3, 2010

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

September 10, 2010

Oak Brook, Ill.-based Ace Hardware Corp. is bringing its 19-million strong Ace Rewards customer loyalty program to a new level, with the help of Visa.

The new Ace Rewards Visa has been launched nationwide -- marking the first time for a hardware co-op to pair up with one of the big payment networks with a rewards card. Issued by U.S. Bank, the Visa card is available in a consumer version, plus a version designed for small business owners.

September 9, 2010

Through a credit card issued by U.S. Bank, Ace Hardware Corp. is upgrading its Ace...

December 30, 2008

One year ago we made a few predictions about the home improvement industry. Some were...

December 14, 2008

When most magazines make predictions, they are long forgotten by the time actual events reveal...

October 8, 2008

Pre-paid bankcards, offered by Visa and American Express, will continue to be the most desired...

September 25, 2008

Sales in August reflected higher interest rates, which have lowered following the government takeover of...

September 4, 2008

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