Second Mortgage Form
Auditor seeks details on Oakhill purchase
YOUNGSTOWN Mahoning County Auditor Michael V. Sciortino has told the county commissioners he needs more information before he can verify that money is available to pay for Oakhill Renaissance Place.
"I need to obtain information regarding all financial obligations the county will incur in connection with the building," and not just the $75,000 purchase price, Sciortino wrote Thursday in response to the commissioners' request that he certify that amount for purchase of the building.
Last week, U.S. Bankruptcy Judge Kay Woods approved the sale of the Oakhill building to the county for $75,000, with the county agreeing to assume all liens and mortgages on the building.
The liens listed in bankruptcy court documents are a $400,000 real estate tax bill, a $100,000 loan from Chase Bank, a $430,000 second mortgage to the Ohio Department of Development and an $8,000 mechanic's lien from Innerscope Technical Services.
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The PMI Group, Inc. Reports Second Quarter 2006 Net Income of ...
WALNUT CREEK, Calif.--(BUSINESS WIRE)--Aug. 3, 2006--The PMI Group, Inc. (NYSE:PMI) (the "Company") today reported net income of $109.6 million for the second quarter of 2006 compared to net income of $104.6 million for the second quarter of 2005. Net income per diluted share grew by approximately 10 percent to $1.14 for the second quarter of 2006 compared to $1.04 for the second quarter of 2005.
Highlights in the second quarter of 2006 include:
-- U.S. Mortgage Insurance Operations(1)-- growth in premiums written, premiums earned and average premium rate as well as favorable credit performance with a sequential decline in delinquencies and claims paid;
-- International Operations(2) -- solid growth in PMI Australia's new insurance written, insurance in force and risk in force partially offset by credit performance trending towards historic norms;
-- Financial Guaranty(3)-- continued expansion of FGIC's operations, strong premium earnings and favorable credit performance;
-- Common Share Repurchases -- the Company repurchased approximately 3.2 million common shares in the second quarter of 2006 at a cost of $146.5 million.