House Committee Approves Two Bills on Home Insurance in live concerns

The House Financial Services Committee approved two measures on Tuesday, April 27, that will alter the landscape for home mortgage insurance. In one measure, the committee took a step to bolster the finances of the Federal Housing Administration. The committee approved a measure to strengthen the FHA's finances by giving it authority to raise annual mortgage insurance premiums. The bill would raise the cap of annual premium payments collected by the FHA from 0.50% to 1.5%.
Rep. Maxine Waters (D-California), Chairwoman of the Housing and Community Opportunity Subcommittee, drafted the FHA Reform Act of 2010 (H.R. 5072) in response to the housing crisis that caused the FHA’s Capital Reserve Account to fall below the 2% level required by law. The Act will empower the FHA to improve its financial position by allowing the agency to adjust its premium structure for new borrowers.
In the other measure, the committee approved by a vote of 39-26 the Homeowners’ Defense Act, legislation intended to reduce insurance premiums for homeowners around the country.

The bill, which was authored by Rep. Ron Klein (D-Florida), allows states that choose to participate to join a national catastrophe insurance pool, with the intent of driving down costs. The pool could include the risk for hurricanes in Florida, earthquakes in California, wildfires in Arizona, and more.
Klein said in a statement, “By working across party lines with Democrats, Republicans and Independents, we have passed a private-market solution to drive down premiums and make a real difference for homeowners around the country.”

The House Financial Services Committee approved two measures on Tuesday, April 27, that will alter the landscape for home mortgage insurance. In one measure, the committee took a step to bolster the finances of the Federal Housing Administration. The committee approved a measure to strengthen the FHA's finances by giving it authority to raise annual mortgage insurance premiums. The bill would raise the cap of annual premium payments collected by the FHA from 0.50% to 1.5%.
Rep. Maxine Waters (D-California), Chairwoman of the Housing and Community Opportunity Subcommittee, drafted the FHA Reform Act of 2010 (H.R. 5072) in response to the housing crisis that caused the FHA’s Capital Reserve Account to fall below the 2% level required by law. The Act will empower the FHA to improve its financial position by allowing the agency to adjust its premium structure for new borrowers.
In the other measure, the committee approved by a vote of 39-26 the Homeowners’ Defense Act, legislation intended to reduce insurance premiums for homeowners around the country.
The bill, which was authored by Rep. Ron Klein (D-Florida), allows states that choose to participate to join a national catastrophe insurance pool, with the intent of driving down costs. The pool could include the risk for hurricanes in Florida, earthquakes in California, wildfires in Arizona, and more.
Klein said in a statement, “By working across party lines with Democrats, Republicans and Independents, we have passed a private-market solution to drive down premiums and make a real difference for homeowners around the country.”
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NAR: Extend flood home insurance program in live concerns

A recent hearing on Capitol Hill featured testimony from a real estate industry group about the importance of extending a national home insurance program for flood damage.A recent hearing on Capitol Hill featured testimony from a real estate industry group about the importance of extending a national home insurance program for flood damage.

The National Association of Realtors said the federal government should approve a five-year extension of the National Flood Insurance Program, which is administered by the Federal Emergency Management Agency. Congress recently approved prolonging the NFIP until May 31 of this year.

Maurice Veissi, first vice president with the NAR, told the House Subcommittee on Housing and Community Opportunity that extending the program on a montly basis is not an efficient way to administer it.

"And it creates financial and real estate market uncertainty for millions of taxpayers, financial market lenders, and insurers who can’t, or won’t, operate under these uncertainties," Veissi said.

Although standard home insurance policies cover storm issues, consumers have to purchase a separate flood policy to be protected against flood damage. In fact, some lenders may require consumers get flood insurance protection if their property is in an area that faces flood dangers.

If Congress allows the NFIP to expire again, new policies will not be allowed, nor will extensions to existing policies.

The National Association of Realtors said the federal government should approve a five-year extension of the National Flood Insurance Program, which is administered by the Federal Emergency Management Agency. Congress recently approved prolonging the NFIP until May 31 of this year.

Maurice Veissi, first vice president with the NAR, told the House Subcommittee on Housing and Community Opportunity that extending the program on a montly basis is not an efficient way to administer it.

"And it creates financial and real estate market uncertainty for millions of taxpayers, financial market lenders, and insurers who can’t, or won’t, operate under these uncertainties," Veissi said.

Although standard home insurance policies cover storm issues, consumers have to purchase a separate flood policy to be protected against flood damage. In fact, some lenders may require consumers get flood insurance protection if their property is in an area that faces flood dangers.

If Congress allows the NFIP to expire again, new policies will not be allowed, nor will extensions to existing policies.
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COBRA health insurance subsidy is extended in live concerns

If you've been laid off from a job that also provided health insurance, we want to alert you to a recent extension to the COBRA subsidy, first announced by President Obama in February 2009.

Under COBRA (which stands for Consolidated Omnibus Budget Reconciliation Act of 1985), employees of companies that offer health insurance and who were not fired for cause are eligible to continue coverage for themselves and any previously covered dependents. But continuing that coverage can be expensive.

Employers often cover at least a portion of health insurance costs for employees and their dependents, but they are permitted — and most do — to charge 102% of their cost to workers who lose their jobs and choose to continue coverage. A survey last year by Washington, D.C.-based advocacy group FamiliesUSA found that the typical monthly cost for families to continue health coverage under COBRA was $1,069, or 83.6% of unemployment benefits. The COBRA subsidy reduces that cost to 35% of the monthly premium, and that premium has been extended twice since it was first announced.
The latest extension applies to anyone who involuntarily lost a job between April 1 and May 31 of this year. The subsidy lasts for 15 months from when coverage begins. (COBRA coverage typically lasts 18 months; in some cases it can be extended to 36 months.) To qualify for the subsidy, you must apply for coverage within 60 days of losing benefits, not be eligible for Medicare and not be eligible for any other group health plan, such as one offered by a new job or by a spouse's employer.

You can get additional information at http://www.dol.gov/COBRA or by calling a Department of Labor benefits advisor toll-free at (866) 444-3272.

It's possible the subsidy could be extended to people who lose their job after May 31, says Kelly Traw of the Washington, D.C., office of benefits consulting firm Mercer & Co. But she notes: "There was much debate and discussion before the last two extensions, causing a fair amount of anxiety for people who worried they might lose their jobs, and their insurance."

Much more preferable would be to have the next extension apply to anyone who loses a job through the end of 2010, "but, because of concern over cost, I suspect future extensions will also be incremental," Traw says.

So watch this space. We'll keep you updated.
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This Week in Credit Card News for live concerns

Our new weekly roundup of what happened in the credit card industry this week.
Visa net climbs 33% as spending picks up. Visa's second quarter profit grew by a third and exceeded analysts' expectations. Consumers spent more and Visa processed a greater number of payments, another encouraging sign that the economy is stabilizing. Spending on Visa-branded cards during the quarter jumped 13% from a year ago to $745 billion. The 10.6 billion transactions during the three-month period represented a 14% increase over year ago levels.
Brazil will limit fees credit card issuers charge consumers
Brazil's government is giving itself the authority to limit the fees that credit card companies can charge consumers. The National Monetary Council will be allowed to make rules on credit card fees and possibly broaden their authority to regulate credit cards.
The most expensive credit cards
Banks offer exclusive, high-end credit cards to their most affluent customers that the rest of us can only dream about. These cards come with high annual fees. For example, the American Express Centurian Card charges a $2,500 annual fee. Minimum spending requirements can be above $250,000. Only a small percentage of the population can qualify for these cards. But this is an attractive and profitable market for issuers since these households typically have excellent credit and a minimal risk of delinquency.
Protecting yourself against further APR increases
The Federal Reserve continues to keep short-term interest rates near zero. The prime rate will remain at 3.25%, its lowest level in decades but consumers are paying the highest interest rate in years on their credit cards. If the prime rate does start to increase later this year as some analysts predict, the APR for all variable rate credit cards will also increase. Here are a few steps consumers can take now to lower rates and pay off debts before interest rates rise again.
Federal Reserve posts new website for gift card rules
The Federal Reserve has created a new website that describes the Fed's rules and protections for gift cards which go into effect on August 22, 2010. The key changes include a limitation on the fees that can be charged on a gift card; all fees must be clearly disclosed; and the money on a gift card is good for five years.
Visa to crack down on misleading tactic
In response to a Congressional investigation, Visa is restricting the practice of "data pass." Investigators found that online customers were being billed for goods or services without ever intentionally providing their credit card numbers. Starting Sunday, Visa will not allow credit card companies to pass credit card information to third parties. The U.S. Senate Commerce Committee estimated that "data pass" had cheated 35 million consumers out of more than $1.4 billion in the past decade.
LowCards.com weekly credit card rate report
Based on the 1000+ cards in the LowCards.com Complete Credit Card Index, the average advertised APR for credit cards this week increased to 13.56%, up slightly from the 13.55% last week. Six months ago, the average was 12.60%. One year ago, the average was 11.61%.
Candian credit cards at a turning point
Technology, government regulation and a lingering recession are transforming Canada's credit card industry. This could mean greater competition among issuers for premium customers. It may also create lower interest rates and greater payment flexibility for consumers. Credit card issuers must conform to stricter requirements for transparency which will enable customers to more clearly compare credit cards.
AO report says debt settlement firms misled consumers
A government investigation of the debt-settlement industry indicates that many firms exaggerated their ability to reduce consumers' loans and inflated their success rates. Some companies claimed success rates from 85% to 100% but the investigation found the rate to be less than 10%. Next week, a bill will be introduced in the Senate that prohibits certain fees and caps the total amount charged. It would also give consumers the power to cancel the program and receive a refund.

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At Least U.S. Health Care Works For Somebody – Health Insurance Company Profits Soar in Q1 2010. in live concerns

Don’t talk to the insurance industry about the failures of the U.S. health care system, especially when insurance company profits are soaring in the first quarter of 2010.
WellPoint, the company that drew attention last year by proposing a 39 percent rate hike for some insurance customers in California, showed a first quarter 2010 profit of 51 percent, shattering Wall Street expectations.
Analysts say part of the reason for huge insurance company profits is “conservative” pricing, meaning a refusal to drop premium rates even though insurers have been blasted by the Obama administration for extraordinary rate hikes in times of high profits.
Another contributing factor to insurance company profits this year was a weak flu season last year. WellPoint estimates gaining $35 – $50 million in Q1 profit due to a flu season that failed to live up to the dire warnings of global health authorities.
WellPoint earned $876.8 million in Q1 2010, up from $580.4 million a year ago, while paying 3 percent fewer claims compared to the same period last year.
Analysts say that health insurance company profits would have been larger but for worry about the affect on profits resulting from the passage of the new health care reform bill.
“At least the U.S. health care system is working for somebody,” said Glynna Prentice, a U.S. citizen living in Campeche, Mexico. “It sure didn’t work for me as a customer. Now that I live in Mexico I pay about a third what I did in the U.S. for insurance, and the care is better, in my opinion.”
Prentice moved to Mexico five years ago for the warm weather and Latin culture, but found that her cost of living went down significantly as well.
“Health care in Mexico is a big part of my savings and improved quality of life compared to the U.S.,” said Prentice. “The health care system has the kind of personal service that has been lacking in the U.S. since the system was taken over by insurance companies. And the costs for specific medical services are almost ridiculously low compared with costs the same services in the U.S.”
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Cheapest Car Insurance Rates– GEICO, Progressive, All State, and Nationwide, Who Has the Lowest Auto Policy Quotes Today, April 30th? in live concerns

Many people are searching for the cheapest car insurance rates from companies like GEICO, Progressive, All State and Nationwide.  They are trying to find the company that offers the lowest auto policy insurance quotes to save money.  If you are one of these people, there are several considerations to take into account. First, what is the overall driving record for those on the policy?  If someone in the household has a poor driving record, such as traffic violations, speeding tickets, DUI, or auto accidents, then the car insurance policy cost will be substantially more than if all of the insured have a clean driving record.
Another point to consider is “bundling” insurance. Many companies that offer homeowners’ insurance will also offer auto insurance, and may have incentives for those that insure both with the same company.

Filed under Car Insurance Tagged All State, Car Insurance, car insurance discount, cheap car insurance, cheaper auto insurance, cheapest car insurance, cheapest online insurance quotes, churchill, discount car insurance quotes, Esure, Geico, Nationwide, online car insurance, online car insurance quotes, Progressive, Quinn Bank, State Farm, tesco, Ulster Bank

  

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Quinn allowed to sell all car insurance again in the UK in live concerns

Quinn Insurance, which is in administration, has been allowed by the Irish Financial Regulator to re-enter the UK private motor insurance market for full licence drivers, after initially being allowed to underwrite provisional license holders.
However, the insurer warns that re-entry into full licence drivers incorporates significant pricing changes which it believes will lead to significantly lower volumes than were previously written by Quinn in the UK private motor market.
A leading motor broker in Northern Ireland yesterday [29 April 2010] told www.broking.co.uk that he hadn't understood Quinn's previous pricing policies.
In a statement Quinn Insurance noted: "This is an important step in the process of ensuring the return of Quinn to a sound financial and commercial footing. We continue to work with the Financial Regulator in relation to the potential of reopening other business lines."

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Insurance Rates For Cars Today – Is Good Car Insurance Easy To Find? in live concerns

Car insurance is not hard to find. Cheap car insurance is. Car insurance companies provide insurance to people based off of different risk factors. Depending on your risk factors, you will pay a lot in car insurance or you will pay little in car insurance.
Your risk factors include age, vehicle type, driving history, and a few other things. These car insurance providers understand the odds of you ending up in an accident.
Some states do away with a few of these procedures, and make everyone pay more just in case. States like Michigan, are called no-fault states. It doesn’t necessarily matter who caused the accident, no single party is in trouble, and both vehicles will be taken care of.
If you visit the insurance websites, you can put in a little bit of information and get a free online quote very quickly. This quote will help you understand what you can expect to pay monthly for auto insurance. If you are unsatisfied with what you find on the website, you can always call the company directly and ask your questions to a real person. Don’t forget to ask about discounts. Many people receive discounts just because you asked for them. Never be afraid to find ways to save money.
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what about armani collections and mortgage loan in live concerns

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Health Insurance Companies Fight to Keep Rescission Alive in live concerns

magine that you have been diagnosed with a life-threatening illness, one that will require lengthy and expensive medical treatment. The concerns and worries you might have are obvious and likely endless: Will I fully recover? Will I be able to continue working? Will I be able to support my family? The one question no one in this situation should have to ask is, Will my health insurance company suddenly decide that I am not entitled to coverage, and leave me without the resources to seek the medical treatment I desperately need?
Unfortunately, due to a practice known as “rescission,” tens of thousands of Americans have been faced with that very situation at the time when they were most vulnerable. The practice – denying coverage for certain medical conditions or entirely cancelling a policy after an insured has been diagnosed with a particular medical condition – has been well documented by law enforcement agencies, state regulators and a congressional committee. Many times, the basis for the denial or the cancellation is flimsy at best, and erroneous at worst.
A recent Reuters article described the tragic circumstances that occur when an insurance company places profits above the interests of the consumers it has promised to insure. The article describes the plight of three women – successful, active adults – who were diagnosed with breast cancer. Although the three women were from different from one another in many ways – they lived in different states and worked in different professions – in addition to sharing this frightening and life-changing diagnosis, they also shared another unfortunate trait: each of them had purchased health insurance from WellPoint, one of the largest insurers in the United States.
As the article describes, shortly after receiving the diagnosis of breast cancer, each of the women profiled received notification from WellPoint that her health insurance coverage had been canceled. The ramifications of the cancellation were swift and devastating. One of the women was required to delay undergoing a much-needed double mastectomy, drastically reducing her chances for survival. Another woman was financially devastated by the cost of obtaining the treatment she needed for a staph infection caused by her stay in the hospital.
Recently, federal investigators determined that WellPoint was specifically targeting women with breast cancer for aggressive investigation with intent to cancel their coverage. A computer algorithm used by the company identified women with that diagnosis, and immediately triggered a fraud investigation intended to uncover some pretext for dropping their policies. The federal investigation revealed that, at the time when these successful, responsible women needed their health insurance coverage the most, WellPoint was expending considerable effort to find a reason to abandon them.
The most frightening thing about the women profiled in the article is that they are not alone. Other insurance companies – the article mentions Anthem Blue Cross in particular – are known to have wrongfully rescinded the coverage of their insureds. Some individual insurers, including WellPoint, note that they have made internal efforts at preventing wrongful rescissions and denials of coverage. During the recent debate over the health care reform bill, however, WellPoint lobbyists actively campaigned against the creation of a Federal Office of Health Insurance Oversight that would have monitored and regulated insurance practices like rescission. They also sought to quash proposed provisions that would have required third-party review of decisions to cancel customers’ policies. Neither the new Office nor the proposed provisions made it into the final version of the health care reform law.
Issues like this one remind us of the important role played by attorneys who represent the rights of injured people. It is easy to imagine how someone faced with a tragic, life-altering situation like the ones described in the article might feel: scared and alone in a fight against a large corporation. Already overwhelmed by a profoundly terrifying medical diagnosis, a person who has fallen victim to the bad faith practices of her health insurer might feel like she doesn’t have the energy or the wherewithal to seek justice. What she needs is someone who is willing to help her fight for the coverage she deserves: the coverage she paid for and has every right to expect.
Attorneys at Spangenberg Shibley & Liber are working to protect the rights of individuals who were denied coverage or were subject to higher premiums because of a health insurance company’s misconduct. If you or a loved one were denied health insurance coverage, were subject to higher premiums, or had health insurance coverage cancelled, contact us for a consultation.
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SD coach's widow settles life insurance lawsuit in live concerns

SIOUX FALLS, S.D. (AP) - The widow of a record-breaking South Dakota high school basketball coach has settled a lawsuit against a Nebraska insurance company.
The settlement between Micki Tibbetts and United of Omaha Life Insurance Co. was reached just days before a jury trial was to begin. Terms were not disclosed.
Fred Tibbetts died in 2008 after a battle with colon cancer. His wife accused the life insurance company of wrongfully denying her an $83,000 life insurance claim. The company said it did not have to pay because Tibbetts was disabled when the policy took effect.
Tibbetts' 551 career wins included a 111-game win streak by the Sioux Falls Roosevelt High School girls team.
Information from: KDLT-TV, http://www.kdlt.com


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Ping An Insurance 1Q Net Profit Up 94% At CNY4.55Bln in live concerns

SHANGHAI (Dow Jones)--Ping An Insurance (Group) Co. of China (2318.HK) said Thursday its first-quarter net profit rose 94% on year on stronger demand for its life insurance and banking services as well as higher investment returns.
China's second-largest life insurer by premiums, after China Life Insurance Co., said its net profit for the three months ended March 31 was CNY4.55 billion, up from CNY2.35 billion a year earlier.
Its gross premiums and policy fees totaled CNY48.09 billion in the first quarter, up from CNY30.79 billion a year earlier.
In a statement, Ping An also said its first-quarter investment income rose 12% to CNY6.12 billion from CNY5.45 billion a year earlier.
Without giving a specific forecast, the Shenzhen-headquartered life insurer said uncertainties surrounding China's macroeconomic policy controls, the domestic stock market and rising costs induced by inflation expectations will put greater pressure on the company. "It will also bring about uncertainties over the sustainability of the company's results during the next three quarters," Ping An said.
The results come as Ping An has been working to expand in its home market after incurring a $3.3 billion loss from its investment in Fortis NV in 2008. Chairman Peter Ma has said he envisions turning the insurer into a diversified financial conglomerate, with equal strength in insurance, banking and asset management.
As part of its effort to beef up its banking business, Ping An is planning to boost its stake in medium-sized Shenzhen Development Bank Co. (000001.SZ) to 30% from 5% for CNY22.13 billion. Shareholders of both companies have approved the deal, which is still subject to regulatory approval.
-By Aries Poon and Shen Hong, Dow Jones Newswires; 852-2832-2332; aries.poon@dowjones.com
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Mesothelioma Research Examines Survival Benefit Associated with Surgery in live concerns

A study recently published in the European Journal of Cardio-Thoracic Surgery evaluated the survival benefit associated with surgical intervention in malignant mesothelioma.
Malignant mesothelioma is a rare cancer caused by asbestos exposure that exhibits a long latency period of 20 to 50 years before symptoms arise. Presently there is no proven cure for the cancer but a small number of mesothelioma patients have experienced extended or complete remission of the cancer. Worldwide research is being conducted to improve mesothelioma life expectancy and the search for a cure is ongoing.
This study included four groups of mesothelioma patients identified by ascending level of therapeutic intervention: (A) no surgery; (B) thoracotomy but no resection; (C) resection but no adjuvant treatment; and (D) resection as part of multimodality treatment. Researchers sought to identify mean survival times for each level of treatment.
Data revealed that mean survival was 16.8, 17.8 and 17 months for those having no surgery, thoracotomy alone and resection with no adjuvant treatment, respectively (groups A, B and C), and mean survival for those undergoing multimodality treatment (group D) was 32.9 months. Additionally, mean survival rate was 25.6 months in patients who had resection and 17.1 months in patients who did not.
Furthermore, researchers noted, “The survival advantage of any management that included surgical resection was estimated as being no more than 9 months. This is the most optimistic estimate and requires all observed differences in survival to be attributed to the effect of treatment and none to selection for treatment. Furthermore, within this upper estimate is included any benefit from other components of multimodality treatment.”
In conclusion, the researchers reported that “Given the burden of morbidity of resection in the management of pleural mesothelioma, this most optimistic estimate of the magnitude of any survival benefit should be taken into account in any policy decision, in clinical trial proposals and in strategies adopted by clinical teams.”
Additional information on mesothelioma and treatment options may be found through the Mesothelioma Center.

<<  Mesothelioma and Asbestos Exposure Highlighted by Workers’ Memorial Day

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Family of Navy Veteran Awarded $6 Million in Mesothelioma Lawsuit in live concerns

A jury in Virginia has awarded a $6 million verdict to the family of Robert Hardick, a United Stated Navy veteran, and mesothelioma victim.  The wife of the late Mr. Hardick filed a mesothelioma lawsuit in March 2009 against John Crane Inc. and Garlock Sealing Technologies.  Robert Hardick died in March 2009 from malignant mesothelioma that he and his family believed had been the result of his service in the US Navy.  Hardick had been a Petty Officer in the Navy and had served aboard various naval vessels during his career, but none for as long as his service aboard the U.S.S. Newport News.  The Newport News was a Des Moines-Class heavy cruiser, which like other ships in the naval fleet from 1940 to 1980 used asbestos in nearly every compartment and area of the ship.
Many Navy veterans like Petty Officer Hardick have been diagnosed with malignant mesothelioma because of their service on board naval vessels during a time when safety regulations regarding asbestos materials and products were practically nonexistent.  Asbestos insulation and asbestos components were used in various capacities on board naval vessels during the 1940s through 1970s because of asbestos’ heat and flame resistant properties.  When asbestos deteriorates over time the fibers can become friable, or airborne, leading to possible inhalation by humans and even lead to a potential diagnosis of mesothelioma.  Thankfully since the late 1970s, the federal government with the help of the Environmental Protection Agency began to crack down on the lax safety regulations on asbestos in the work place and naval ships. But for many generations of workers and veterans, the legal changes came too late.
Mrs. Hardick’s mesothelioma lawyers were able to prove that the same asbestos fibers breathed in by her late husband was the same asbestos manufactured and sold to the Navy by Garlock Sealing Technologies and John Crane Inc.  This connection proved enough evidence to the jury to warrant the wrongful death verdict and the sizeable award being divided between the two offending companies.  In mesothelioma lawsuits, the toughest part of the case is proving that one’s diagnosis of mesothelioma was caused by an occupation known for asbestos exposure, and then being able to personally identity the asbestos manufacturer that made the asbestos containing products and materials used by the victim.
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Registry to track mesothelioma epidemic in live concerns

A new mandatory mesothelioma registry will more accurately detail information about disease sufferers, whose numbers have been under-reported, Deputy Prime Minister Gillard says.
Ms Gillard launched the Australian Mesothelioma Registry on Friday, saying it was a big advance on the voluntary system previously in place.
The registry will collect detailed information about sufferers, such as when and where the disease may have been contracted.

Registry to track mesothelioma epidemic

May 1, 2010 - 12:04AM

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A new mandatory mesothelioma registry will more accurately detail information about disease sufferers, whose numbers have been under-reported, Deputy Prime Minister Gillard says.
Ms Gillard launched the Australian Mesothelioma Registry on Friday, saying it was a big advance on the voluntary system previously in place.
The registry will collect detailed information about sufferers, such as when and where the disease may have been contracted.
It will then be used by experts to track asbestos exposure, so authorities can deal with future
risks.
"We ... want to make sure that as mesothelioma cases come to light from past exposure, we know where that past exposure was, so that any remaining risks can be dealt with," Ms Gillard told the launch, held at the Bernie Banton Centre at Sydney's Concord Hospital.
"Part of making sure we can fight this disease is having the best possible information about who has it, and what exposure they had which caused the disease.
"It will work with our agencies around the country that deal with cancer, so we can bring together, in the one place, the best possible information."
Ms Gillard said the voluntary system had under-reported the prevalence of mesothelioma.
With scientists predicting an increase in sufferers - Australia was once the highest per capita consumer of asbestos in the world - she said the new registry would help keep tabs on the disease.
"Unfortunately the projections show that we are expecting increasing disease diagnosis rates over the next four to five years," she said.
"Mesothelioma is a cruel and unpredictable disease. It is also a disease with a long latency period for some individuals. That is that they can get mesothelioma having been exposed to asbestos 15, 20, 25 years before.
"Consequently we are still seeing people being diagnosed from asbestos exposure quite a long time in the past."
The registry will be managed by a consortium led by the Cancer Institute of NSW.

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Free Online Mortgage Calculators in live concerns

When it comes to purchasing a new home one of the basic questions a potential buyer has is how much their monthly payments will be. It is very important for an individual to know exactly how long it will take to pay off the mortgage and how much the monthly payments will calculate to. Many people are just not aware of the fact that lenders have their own complex formulas they use to determine how much the borrower can really afford. One way for an individual to find out for themselves how much they can afford is by using a mortgage calculator.
This can be found right here on the internet and also at your local banking institution. One of the main purposes of a mortgage calculator is to provide an exact amount on how much a borrower can afford. But make sure you have the required information on hand before trying to use this calculator. The information you will be needing is the loan amount, length of the mortgage in years, and the interest rate being offered. There is no charge to use these calculators.The easiest way to use a mortgage calculator is right here online. If you simply type in “mortgage calculator” in your favorite search engine you will find countless websites that will have a calculator for you to use without having to pay any fee. This  has got to be one of he most effective tools for an individual to figure out what type of mortgage they can actually afford. But make sure the information you enter is 100% accurate or else the results will not be accurate. Remember the results of the calculation are only as good as the information you had entered.
Mortgage calculators basically input the information you give it into a mathematical formula designed to be easy and accessible for the user, much like an excel program
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Bernanke Says Mortgage Rates Headed Higher: Ignore Him in live concerns

Federal Reserve Chairman Ben Bernanke recently warned of rising mortgage rates. But when
you take a closer look at the testimony, he's referring to a couple years down the road -- probably closer to 2012 than 2010.

In his April 27 testimony before President Obama's federal deficit committee, Bernanke expressed concern about the annual deficit through 2020, which could lead to a ratio of federal debt to GDP of 70 percent by 2012. And that could start to raise concerns among investors.

Under a worst-case scenario: If tax cuts are extended, the deficit by the end of 2020 could be 9 percent of GDP and the federal debt would "balloon to more than 100% of GDP." At that point the U.S. would definitely be paying higher interest rates to borrow money and that would likely lead to higher mortgage rates.

But remember, that's not going to happen anytime soon.

In fact, in recent testimony, Ben Bernanke told the U.S. Congress Joint Economic Committee that at the end of the Fed's $1.25 trillion purchases of mortgage assets, it "appears to have improved market functioning and reduced interest-rate spreads not only in the mortgage market but in other longer-term debt markets as well."

That indicates a strong likelihood for continuing low mortgage rates.

The Federal Reserve maintained interest rates at all time lows at the end of today's Federal Open Market Committee (FOMC), so you can count on mortgage rates staying in about the same ballpark for months to come. While the FOMC concluded that the "growth in household spending has picked up," the economy "remains constrained by high unemployment, modest income growth, lower housing wealth, and tight credit."

In other words, the economy is still struggling and the FOMC gave no signal that it intended to raise the federal funds rate above the current 0 to 1/4 percent target range. In fact the FOMC expects current economic conditions to remain "subdued" and said that with "stable inflation expectations" the federal funds rate will remain at "exceptionally low levels" for an "extended period."

In the area of housing, the FOMC said, "Housing starts have edged up but remain at a depressed level." So if you're worried about interest rates going up, don't.

Some were concerned that the mortgage rate would go up when the Fed stopped buying mortgage assets, but those fears appear to be unfounded. In fact just the opposite appears to be happening now that private mortgage insurers are back in the game. That should encourage even more private investors to get back into the mortgage market as well.

You'll more likely see improving conditions for home purchase loans, now that private mortgage insurers are insuring loans with as low as 5 percent down in most markets. You won't see those favorable rates in the depressed markets right away, but as the economy improves you'll find them there as well.

Lita Epstein has written more than 25 books, including Reading Financial Reports for Dummies and The Complete Idiot's Guide to the Federal Reserve.

http://liveconcerns-waleed.blogspot.com/

30-Year Fixed Rate Mortgage Refinancing Can Bring Lower Mortgage Payment For Homeowners in live concerns

30-year fixed rate mortgages have been low as mortgage rates have stayed around 5%. While some people have gotten rates lower than 5% or some slightly higher, many homeowners are refinancing so that they may take advantage of a lower rate and possibly a lower monthly mortgage payment.
Homeowners have been struggling with their mortgage payments as of late due to the troubling economy. Also, underwater mortgages and unemployment have caused mortgage trouble for homeowners. While there are options for homeowners in these cases, many homeowners that are just looking to get a lower interest rate for the lower payment that it may bring are simply refinancing their home loan.
Refinancing can be beneficial for some people, however, it’s not going to be affordable or in the best interest for everyone. In the past, some homeowners have refinanced in order to get money back from their home’s equity and have used this money for a variety of purchases or repairs on their home.
However, some people are refinancing for this lower mortgage rate, getting a lower monthly mortgage payment, and using that money to pay on their mortgage principal. This is too can help a homeowner when it comes to their overall mortgage payment, but many homeowners are simply looking at the benefits of a lower mortgage payment when refinancing.
Anyone considering refinancing to a 30-year fixed rate mortgage may want to talk with their lender and be sure that it is in their best financial interest before doing so. Again, refinancing can be beneficial but it’s not going to be for everyone.

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The Challenges of Getting a Mortgage Loan for a Second Home in live concerns

When getting a mortgage loan, second home purchases make the process much more difficult. While it is relatively easy to get a mortgage for your primary residence, there are more challenges getting a mortgage for a second home. Here are a few things to consider when trying to get a mortgage for a second home

In order to be able to secure a mortgage loan for a second home, you will need to have a very good credit score. In most cases, lenders will require you to have a better credit score than if you were just applying for a primary mortgage. Therefore, you need to make sure that your credit score is in good shape before applying for a second mortgage.
Increased Income
Lenders will also want to see the you have a substantial amount of income coming in. The income requirements will usually be much higher than they would be with a normal mortgage. In most cases, you will have a mortgage on your primary residence and a new mortgage to take care of. Be sure that your income is high enough to cover both your principal residence and your second home mortgages. Also, be sure that you have sufficient money to cover all your monthly debt obligations, such as credit card payments or car loans.
Liquid Assets
The liquid assets requirements are typically what give borrowers the most trouble when applying for a second mortgage. You will need to have substantial amounts of liquid assets in order to be able to qualify. Each lender will be different as far as how much will be required. Most commonly, lenders require that you have enough money in reserves to cover six months worth of mortgage payments for both properties. Therefore, you may have to start saving up some money before you can qualify for this type of mortgage.
Cash Flow Statement
Many people intend to purchase a second home and rent it out. Whether it is a vacation home or a traditional home, this could provide you with some significant cash flow. However, lenders will want you to be able to prove that you can generate cash flow from the property. You will need to look at similar properties and develop a cash flow statement that you can show to the lender. They will look at the cash flow statement and try to evaluate whether it looks like a sound investment. Many lenders are very leery to invest money into a rental property. They have trouble selling these mortgages on the secondary market. Therefore, you are going to have to be able to prove that significant cash flow can be produced.
Property Condition
In addition to looking at your financial situation, the lender is also going to want to take a good look at the property itself. They will need to appraise the property and make sure that it is in good condition. They do not want to invest money in a mortgage for a second home that is not in good shape. It can be difficult to obtain a mortgage for second home if the house is a fixer-upper

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Jumbo Loans Easier to Find in live concerns

Getting a jumbo mortgage is becoming a little easier for home buyers in the New York area.
Jumbos in the tri-state area are mortgages that exceed $729,750, the limit set to receive government backing or for lenders to sell the loans to mortgage-finance giants Fannie Mae and Freddie Mac. Since the mortgage crisis, banks haven't been eager to make large loans without federal protection, so the market for such mortgages suffered, crimping sales of expensive homes.
But more lenders have been stepping up their offerings of jumbo loans, even though most of the large mortgages will stay in the lender's portfolio. "The rust has slowly been shaken off as banks re-learn how to do portfolio lending," says Keith Gumbinger of HSH Associates, a financial publisher based in Pompton Plains, N.J.

The New York region is benefiting from having a large array of financial institutions that make loans--from national lenders and investment firms to credit unions and smaller banks. That means even though the crisis has made credit guidelines more stringent, "there is definitely more money available," says Melissa Cohn, president of brokerage Manhattan Mortgage Co.
Some banks, like Hudson City Savings Bank, a thrift based in Paramus, N.J., and Astoria Federal Savings, a Queens, N.Y., lender, have long had a hand in the jumbo market and didn't retreat when private money fled as the credit crisis worsened. Together, the two regional lenders accounted for nearly 6% of all jumbo lending in the country last year, according to Inside Mortgage Finance.
Astoria's jumbo lending volume doubled in the second half of the 2009 from the first half, according to Inside Mortgage Finance, even though it reduced its maximum loan limit to $1.5 million, from $2.5 million.
Bigger banks have also gradually increased jumbo offerings. On Monday, Citigroup Inc. will drop rates to around 5.6% on 30-year fixed-rate jumbo mortgages with down payments of at least 25%. "There are a lot of really good buyers who are underserved today, particularly in high-end markets like California and New York," said Sanjiv Das, chief executive of Citi's mortgage unit. He says the bank hopes lower rates will help "energize" those housing markets.
At J.P. Morgan Chase & Co., jumbo activity increased in every quarter last year, according to Inside Mortgage Finance. A lending official says the bank is reducing minimum down payments to as low as 20% in markets where prices appear to have bottomed.
Credit unions have also become a popular jumbo outlet. "They certainly filled the void locally...You used to never see a credit union do mortgage lending," says Guy Cecala, publisher of Inside Mortgage Finance.
Long Island's Teachers Federal Credit Union offers jumbo loans up to $1.5 million with 20% down, while Bethpage Federal Credit Union will make loans up to $2.5 million, though it requires a 45% down-payment on those loans.
Meanwhile, rates on jumbo loans have also fallen to their lowest levels in years. Last week, the average 30-year fixed-rate jumbo loan carried a 5.76% rate, just above the all-time low of 5.55% in June 2003, according to HSH Associates.
"Hybrid" adjustable-rate mortgages that carry a fixed rate for the first five years are now as low as 4.25%, down from 5.25% one year ago, says David Adamo, chief executive of Luxury Mortgage Corp., a mortgage bank in Stamford, Conn.
"The availability of money has improved and the price of that money has improved," says Mr. Gumbinger of HSH. "No one would characterize it as great, but slowly but surely, things have been getting better."
Indeed, underwriting standards are still very tight, with most lenders requiring minimum credit scores of 740 and down payments of at least 20% for loans up to $1 million and 30% for loans up to $2 million.
And until those standards relax, analysts say that a modest improvement in mortgage lending might not have a big effect on sales on a market that depended heavily on easy lending during the bubble.
"You don't have 35-year-old investment bankers putting 10% down on $4 million apartments," says Jonathan Miller, president of New York appraisal firm Miller Samuel Inc. "That knocks a large group of people out of the pool."

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Citigroup Home Loan Mortgage Modification For Underwater Mortgage And Struggling Homeowners in live concerns

Homeowners with Citigroup needing a home loan modification or who are struggling with an underwater mortgage may be able to find the help they need in the Obama home loan modification program. Many lenders like Citigroup are still using plans within the home loan modification program to assist homeowners.
Trouble for homeowners range from underwater mortgages,  which is where a homeowner owes more on their home then the home is worth, or simply a homeowner being unable to afford their home loan payment due to unemployment or financial trouble.
There are programs like a loan modification, principal reduction, or an unemployment forbearance option for homeowners who are having trouble, yet not all lenders are participating in all of these plans.
Some lenders are using in-house programs to deal with underwater mortgages and homeowners who are having trouble with unemployment. There have been banks that say they do not want to use principal reductions as a means of assistance.
However, Citigroup has stated that they have used principal reductions and with their continued success in the home or modification program they are helping more homeowners each month afford their home loan payment.
While there is no perfect program or lender, as some homeowners have had a lot of trouble with big banks and the modification program, homeowners or being advised to contact their lender for the best options in dealing with mortgage troubles related to unemployment, home devaluation, or if they are simply struggling to make their mortgage payment

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RLPC-Switzerland's Mercuria seeks $900 mln refinancing loan in live concerns

 for live concerns ,
LONDON, April 29 (Reuters) - Swiss-based commodities trader Mercuria launched a $900 million refinancing loan to syndication, lead banks said on Thursday.
Proceeds from the multicurrency revolving credit will be used for general corporate purposes and to refinance Mercuria's existing $685 million one-year loan dated 2009, which was extended until July this year.
The new deal includes a $755 million one-year tranche A with a one-year extension option at the company's request and at the discretion of each lender.
There is also a $145 million three-year tranche B, which will only be provided by the mandated lead arrangers and bookrunners.
Mandated lead arrangers and bookrunners are BNP Paribas, Credit Agricole CIB, Fortis Bank (Nederland), ING Bank, Natixis, Rabobank, Royal Bank of Scotland, Societe Generale CIB and Standard Chartered Bank.
Prospective participants have been invited to attend a London bank meeting on May 10. (Reporting by Zaida Espana; Editing by David Holmes)

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Mortgage Rates Stay Flat, Thanks to Greece in live concerns

Mortgage rates stayed flat last week, rising just slightly to 5.08% from 5.04% one week earlier, according to the Mortgage Bankers Association. So far, the big rise in rates that some had expected when the Federal Reserve ended its mortgage-backed securities purchase program last month hasn’t materialized.
In fact, the instability in Europe amid looming debt woes for Greece and Portugal on Tuesday sent investors looking for safer assets such as the 10-year Treasury, to which fixed-rate mortgages are closely tied. That has helped to keep rates down.
Still, intra-day rates have grown more volatile, says Dan Green, a Cincinnati mortgage broker. When the Fed was the main mortgage buyer, banks would send out rate sheets (effectively changing their pricing) around 10 times a week he says. Now, that’s happening about 20 times a week. “It’s been exceedingly challenging to pin down rates because they move so rapidly,” he says.
But rates haven’t bounced around much from day to day or week to week.  HSH.com says that rates averaged 5.15% last week. They moved up to 5.17% on Monday, and then down to 5.16% on Tuesday.
Mortgage applications rose last week for new purchase mortgages, largely as the end of the home buyer tax credit spurs more lending activity, according to the MBA.  While purchase activity was up 7.4% to its highest level in six months, refinance activity was down 8.8%. Government-backed loans from the Federal Housing Administration and other agencies accounted for nearly 49% of all purchase loan applications last week.
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Mortgage Application Volume Slumps as Refinance Activity Plummets in live concerns

 

What a difference a week can make. According to the Weekly Mortgage Applications Survey released Wednesday by the Mortgage Bankers Association (MBA), mortgage application volume fell 2.9 percent for the week ending April 23, 2010, after surging 13.6 percent just one week earlier.

A major drop in refinance applications was the culprit of this significant week-to-week change. From one week to the next, the refinance index tumbled 8.8 percent. As a result, the refinance share of mortgage activity fell to 55.7 percent of total applications, down from 60 percent the week prior.

It wasn’t all bad news, though. The purchase index soared 7.4 percent from the previous week, reaching its highest level since October 2009. MBA said this increase was driven largely by the government purchase index, which jumped 11.9 percent from the week prior. During the same period, the conventional purchase index nudged up 3.5 percent.
“Purchase activity continues to increase as we approach the end of the homebuyer tax credit program,” said Michael Fratantoni, MBA’s VP of research and economics. “Purchase applications were up almost 9 percent from a month ago, with a disproportionate share of the increase due to government purchase applications. Government applications for purchasing a home accounted for almost 49 percent of all purchase applications last week.”
Despite the notable increase in purchase activity, overall mortgage application volume fell due to the substantial decline in refinance activity, which was likely the result of a week-to-week jump in interest rates.
According to MBA, the average contract interest rate for 30-year fixed-rate mortgages increased to 5.08 percent from 5.04 percent the week before, and the average rate for 15-year fixed-rate mortgages inched up to 4.38 percent from 4.34 percent.
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Underwater Mortgage Refinance Options Makes Mortgage Payments More Affordable in live concerns

The Home Affordable Refinance Program is giving homeowners with an underwater mortgage more options when it comes to refinancing their home loan to a more affordable rate.  Homeowners that owe more on their home than it’s worth are in a frustrating situation, but there are options available.
Many homeowners have been calling for principal reductions, but this is not a popular option among many lenders.  Lenders are unwilling to lower the principal amount owed, in most cases, on a home simply because a home’s value dropped.
However, underwater homeowners do have options available to them when they are struggling to make their mortgage payment due to an underwater mortgage.  While some homeowners may be able to get a principal reduction, it’s not something that is widely available, so homeowner may want to seek out refinancing options with the Home Affordable Refinance Program.
Homeowners are being advised to talk with their lenders when it comes to options that are available.  While there have been troubles between lenders and homeowners seeking a home loan modification, there are options available to those who are struggling to make their home loan payment.
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JPMorgan Chase will call off financing of refund loans by small tax preparers in live concerns

JPMorgan Chase will stop financing tax-refund loans for about 13,000 independent preparers, sources said, in a move that could drive customers toward H&R Block.
Refund-anticipation loans are used by clients who want cash immediately and take short-term loans based on the expected amount of their refunds.
But consumer groups say the loans put people deeper in debt, with interest rates that can exceed 100% on an annualized basis.
"It gets a lot of bad press," said Stephens analyst David Burtzlaff. "The consumer groups hate it. It falls under the same stigma as payday loans and I don't think banks want the attention it brings."
"Bankers don't like the consumer advocacy groups picketing outside their offices," added John Hewitt, CEO of Liberty Tax Service.
The National Consumer Law Center estimated 8.7 million taxpayers took out such loans in 2008, paying $738 million in fees. H&R Block controlled 45% of the market last year, according to Northcoast Research.
No. 2 tax preparer Jackson Hewitt said in December that it wouldn't receive approval to originate new refund-anticipation loans.
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TF Financial Corporation Reports First Quarter 2010 Results and Quarterly Dividend in live concerns

NEWTOWN, Pa., Apr 29, 2010 (GlobeNewswire via COMTEX) -- TF Financial Corporation /quotes/comstock/15*!thrd/quotes/nls/thrd (THRD 19.02, -0.24, -1.22%) today reported net income of $717,000 ($0.28 per diluted share) for the first quarter of 2010, compared with $1,020,000 ($0.41 per diluted share) for the first quarter of 2009. The Company also announced that its Board of Directors had declared a quarterly dividend of $0.20 per share, payable May 14, 2010 to shareholders of record on May 10, 2010.
Results for the current quarter included:

--  Net income decreased by $303,000 or 29.7% compared with the first
      quarter of 2009. Diluted earnings per share were $0.28, a $0.13 or 31.7%
      decrease from the first quarter of 2009. Dividends paid per share were
      $0.20 during both the first quarter of 2010 and 2009.
  --  Pre-tax income was $895,000 during the quarter, down $470,000 from the
      first quarter of 2009, mainly the result of the $296,000 increase in the
      provision for loan losses during 2010 and non-recurring gain on sale of
      investments of $190,000 which occurred during the first quarter of 2009.
  --  Net interest income was $5,832,000 which was a $53,000 or 0.9% increase
      over the fourth quarter of 2009, and a $313,000 or 5.7% increase over
      the first quarter of 2009. Similarly, the Company's net interest margin
      expanded to 3.60% compared with 3.45% during the fourth quarter of 2009,
      and 3.28% during the first quarter of 2009. While the yields on the
      Company's interest-earning assets fell modestly since the first quarter
      of 2009, the cost of its interest bearing liabilities, mainly deposits,
      fell at a faster pace.
  --  The provision for loan losses was $961,000 during the quarter compared
      with $1,025,000 during the fourth quarter of 2009 and $665,000 during
      the first quarter of 2009. Because economic conditions in the
      Philadelphia region as they affect commercial real estate have remained
      soft, and certain of the Company's borrowers with delayed, unleased or
      unsold commercial real estate development projects have experienced
      financial difficulties, the Company has steadily increased its allowance
      for loan losses to $6,165,000 or 1.16% of loans at quarter end, a 39.3%
      increase over the $4,425,000 balance at March 31, 2009.
  --  Non-performing loans were $14,174,000 at quarter end compared with
      $8,285,000 at December 31, 2009. This increase was mainly caused by the
      delinquency of two loans with a combined balance of $5.9 million to a
      single borrower, secured by undeveloped commercial real estate.
      Foreclosed property at March 31, 2010 comprised three parcels of real
      estate with a combined carrying value of $1,150,000. Total
      non-performing assets were 2.14% of total assets compared with 1.34% at
      year end 2009.
  --  Loans outstanding were $531.1 million, a $4.8 million or 0.9% decrease
      during the quarter, reflecting repayments in the Company's construction
      loan portfolio and reduced consumer mortgage and home equity loan
      demand. Similarly, mortgage loans originated for sale were $6.1 million
      compared with $12.3 million during the first quarter of 2009.
  --  Deposit growth continued during the quarter. At quarter end, total
      deposits were $553.4 million, compared with $552.7 million at December
      31, 2009, and $504.5 million at March 31, 2009.

Commenting on the performance of the Company, President Kent C. Lufkin stated that, "We continue to see evidence that we are in a severe recessionary period. Many business and consumer customers are experiencing difficulty in this economy. As a result, we have seen an increase in our non-performing assets and criticized loans. We still have strong core earnings and have made substantial contributions to our loan loss reserve. We are working diligently to manage the problem loans within our portfolio. Those inevitable problems are counterbalanced by the overall excellent performance of our consumer loan portfolio, the continued growth and strength of our Retail Banking deposit gathering operation, the absence of problems in our investment portfolio, and the dedication and hard work of our seasoned, professional staff."
TF Financial Corporation is a holding company whose principal subsidiary is Third Federal Bank, which operates 14 full service retail and commercial banking offices in Philadelphia and Bucks County, Pennsylvania and in Mercer County, New Jersey. In addition, the Bank's website can be found at www.thirdfedbank.com. Statements contained in this news release that are not historical facts are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, factors discussed in documents filed by TF Financial Corporation with the Securities and Exchange Commission from time to time. The Company does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company.

T F FINANCIAL CORPORATION
  UNAUDITED FINANCIAL INFORMATION
      (dollars in thousands
       except per share
       data)                                         QUARTER ENDED
                              ----------------------------------------------------------

                               3/31/2010  12/31/2009   9/30/2009   6/30/2009   3/31/2009
                              ----------  ----------  ----------  ----------  ----------

  EARNINGS SUMMARY

    Interest income              $ 8,675     $ 8,932     $ 9,120     $ 9,228     $ 9,317
    Interest expense               2,843       3,153       3,381       3,649       3,798
    Net interest income            5,832       5,779       5,739       5,579       5,519
    Loan loss provision              961       1,025         650         590         665
    Non-interest income              761       1,240         796       1,439         935
    Non-interest expense           4,737       4,465       4,420       4,776       4,424
    Income taxes                     178         369         353         430         345
    Net income                     $ 717     $ 1,160     $ 1,112     $ 1,222     $ 1,020


  PER SHARE INFORMATION

    Earnings per share,
     basic                        $ 0.28      $ 0.46      $ 0.44      $ 0.48      $ 0.41
    Earnings per share,
     diluted                      $ 0.28      $ 0.46      $ 0.44      $ 0.48      $ 0.41

    Dividends paid                $ 0.20      $ 0.20      $ 0.20      $ 0.20      $ 0.20


  FINANCIAL RATIOS

    Annualized return on
     average assets                0.41%       0.64%       0.62%       0.68%       0.57%
    Annualized return on
     average equity                4.01%       6.61%       6.28%       7.07%       6.08%
    Efficiency ratio              84.11%      74.49%      75.11%      74.30%      76.42%


  AVERAGE BALANCES

    Loans                      $ 529,817   $ 532,190   $ 535,358   $ 542,569   $ 545,097
    Mortgage-backed
     securities                   81,839      90,434     100,482     104,491     109,377
    Investment securities         53,282      45,996      41,849      38,060      39,458
    Other interest-earning
     assets                        6,728      10,358       2,027       2,011         501
    Total earning assets         671,666     678,978     679,716     687,131     694,433
    Non-earning assets            41,204      37,440      37,463      38,517      34,984
    Total assets                 712,870     716,418     717,179     725,648     729,417

    Deposits                     549,257     548,436     530,064     518,374     494,969
    FHLB advances and other
     borrowed money               82,536      89,126     107,746     128,620     157,928
    Total interest bearing
     liabilities                 631,793     637,562     637,810     646,994     652,897
    Non-interest bearing
     liabilities                   8,611       9,213       9,065       9,302       8,471
    Stockholders' equity          72,466      69,643      70,304      69,352      68,049
    Total liabilities &
     stockholders' equity      $ 712,870   $ 716,418   $ 717,179   $ 725,648   $ 729,417



  SPREAD AND MARGIN ANALYSIS

  Average yield on:
    Loans                          5.59%       5.57%       5.66%       5.66%       5.70%
    Mortgage-backed
     securities                    4.79%       4.90%       4.62%       4.97%       5.14%
    Investment securities          4.12%       4.00%       4.09%       3.99%       3.90%
    Other interest-earning
     assets                        0.06%       0.08%       0.00%       0.00%       0.00%
    Total interest-earning
     assets                        5.32%       5.29%       5.39%       5.45%       5.50%

  Average cost of:
    Deposits                       1.47%       1.61%       1.79%       1.89%       2.06%
    FHLB advances and other
     borrowed money                4.17%       4.16%       3.64%       3.77%       3.30%
    Total interest-bearing
     liabilities                   1.82%       1.96%       2.10%       2.26%       2.36%

  Interest rate spread             3.50%       3.33%       3.29%       3.19%       3.14%
  Net interest margin              3.60%       3.45%       3.42%       3.32%       3.28%


  NON-INTEREST INCOME DETAIL

    Service fees, charges
     and other                     $ 529       $ 480       $ 464       $ 597       $ 437
    Bank-owned life
     insurance                       172         175         171         170         160
    Gain/loss on sale
     investments                      --         456          --         116         190
    Gain on sale of loans             60         129         127         253         148
    Gain on sale of real
     estate                           --          --          34         303          --

  NON-INTEREST EXPENSE
   DETAIL

    Salaries and benefits        $ 2,700     $ 2,725     $ 2,601     $ 2,645     $ 2,671
    Occupancy                        759         696         756         708         710
    Professional fees                228         205         195         183         273
    Advertising                      120          87         118         116         148
    Deposit insurance                194         206         182         511          21
    Other                            736         546         568         613         601


  T F FINANCIAL CORPORATION
  UNAUDITED FINANCIAL INFORMATION
      (dollars in thousands
       except per share
       data)                                         PERIOD ENDED
                              ----------------------------------------------------------

                               3/31/2010  12/31/2009   9/30/2009   6/30/2009   3/31/2009
                              ----------  ----------  ----------  ----------  ----------
  DEPOSIT INFORMATION


    Non-interest checking       $ 41,757    $ 37,288    $ 38,100    $ 41,078    $ 36,123
    Interest checking             51,991      52,988      47,377      49,593      47,365
    Money market                 142,791     141,286     131,197     120,163     100,481
    Savings                       98,948      96,061      97,795     104,385     108,518
    CD's                         217,938     225,093     217,480     215,871     212,028

  OTHER INFORMATION

  Per Share

    Book value (a)               $ 28.43     $ 28.31     $ 28.33     $ 27.63     $ 27.35
    Tangible book value (a)      $ 26.74     $ 26.60     $ 26.61     $ 25.91     $ 25.64
    Closing market price         $ 18.76     $ 18.97     $ 18.75     $ 17.71     $ 18.19

  Balance Sheet

    Total loans                $ 531,137   $ 535,949   $ 535,645   $ 545,712   $ 545,980
    Cash and cash
     equivalents                  16,339      12,801       4,401       6,262       3,896
    Mortgage-backed
     securities                   78,412      81,931      98,188     101,171     105,678
    Investment securities         57,837      50,749      44,348      41,947      38,451
    Total assets                 715,948     714,090     711,849     724,497     723,925
    Total deposits               553,425     552,716     531,949     531,090     504,515
    FHLB advances and other
     borrowed money               81,738      80,241      99,744     111,132     141,576
    Stockholders' equity          72,422      71,874      71,550      69,672      68,901

  Asset Quality

    Non-performing loans        $ 14,174     $ 8,285     $ 3,098     $ 3,039     $ 3,486
    Allowance for loan
     losses                      $ 6,165     $ 5,215     $ 4,292     $ 4,970     $ 4,425
    Net charge-offs                 $ 11       $ 102     $ 1,328        $ 45        $ 95
    Reserves to gross loans        1.16%       0.97%       0.80%       0.91%       0.81%
    Non-performing loans to
     gross loans                   2.67%       1.55%       0.58%       0.56%       0.64%
    Non-performing loans to
     total assets                  1.98%       1.16%       0.44%       0.42%       0.48%
    Foreclosed property          $ 1,150     $ 1,279       $ 999     $ 1,130     $ 2,164
    Foreclosed property to
     total assets                  0.16%       0.18%       0.14%       0.16%       0.30%
    Non-performing assets to
     total assets                  2.14%       1.34%       0.58%       0.58%       0.78%

  Statistical

    Shares outstanding
     (000's) (a)                   2,547       2,539       2,526       2,522       2,519
    Number of branch offices          14          14          14          14          14
    Full time equivalent
     employees                       177         177         172         173         177


    (a) Excludes 130,000,
     133,000, 138,000,
     141,000 and 144,000
     unallocated employee
     stock ownership plan
     shares at March 31,
     2010, December 31,
     2009, September 30,
     2009, June 30, 2009 and
     March 31, 2009,
     respectively.

This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: TF Financial Corporation

CONTACT:  TF Financial Corporation
Dennis R. Stewart, EVP/CFO
(215) 579-4000

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Working families need higher minimum liability limits on auto insurance, not lower in live concerns

I believe that the editorial regarding the increase in the minimum liability limits for automobile insurance policies mischaracterized the issue and missed important points. The editorial paints the issue of raising the minimums as a contest between lawyers and insurance companies. The editorial points to working families as victims of this legislation. However, it is the working families that suffer the greatest devastation from the financial losses of bad automobile accidents. It is the working family that is less likely to have the financial resources such as savings, good health insurance and disability insurance that help cushion the losses from injuries sustained in accidents. As a doctor often treating people injured in accidents, I see first-hand the people that are out of work for extended periods or will never work again due to the negligence of someone else and their struggles to support their families. These injures people often need to file for bankruptcy, leaving other Marylanders to pay their medical expenses and to support them when they can't work. If we want to help MAIF policy holders we need to allow MAIF to offer payment plans to their customers rather than allow loan sharks to finance car insurance.
In addition, the editorial states that to "Raise the cost of driving for the working poor now, and the jobless rolls are only going to expand." However, there are no data offered to support this contention. There is no logical reason to assume that an increase in automobile liability coverage and an increase in rates will cause unemployment. I congratulate the legislature for protecting injured Marylanders and urge the Governor to sign this bill.
Dr. Neil Cohen, Baltimore

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Cheap car insurance rates – Save on auto insurance – Geico , Progressive, and Allstate offer deals in live concerns

Car insurance and auto insurance rates seem to go up every year. If by chance your car insurance rates do not go up they stay the same. If you are looking for cheap car insurance quotes you may need to switch companies to get a better rate. Companies such as Geico, Allstate, and Progressive will often offer a lower rate than you already have.

Auto insurance rates are based on many things. If you have any traffic violations your insurance rates will likely be higher. If you have bad credit this may also affect the cost of your insurance. The city and state where you live also plays a part in your rates. Higher populated states and cities tend to run higher.
Author — Jennifer Mitchell

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Cheap car, auto insurance rate quotes – Who has the best car insurance rates Geico, Progressive, Allstate, Nationwide, State Farm, or Liberty Mutual? in live concerns

Saving money these days means that you have to examine all of the areas in your life that you could potentially pay less. One of these areas that you may want to look at is auto insurance. People often purchase insurance and never question their insurance company as to whether or not they are getting the best insurance rates. By spending a few minutes shopping around for car insurance, you could potentially save hundreds of dollars per year.
The question still remains – Who has the best car insurance rates Geico, Progressive, Allstate, Nationwide, Sate Farm, or Liberty Mutual? The answer to this question is not so simple. If one insurance company always had lower rates than the others, there would be no competition and one insurance company would rule. Each of these car insurance companies offer competitive rates which are usually within a few dollars of each other. Rates vary from day to day and you may receive a different quote on any given month. The only way to determine which company will give you the lowest rates is to shop around and compare similar insurance policies.
Author: Mike Smitt

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Compare auto insurance in live concerns

Every individual who has a license and owns a vehicle needs auto insurance. When you purchase auto insurance, you want to make sure you are sufficiently covered if anything goes wrong, but you also don't want to have to overpay for coverage. That is why it's extremely important to compare auto insurance quotes from different companies before you buy.
Set aside enough time to really delve into the task at hand. Before you log on to an auto insurance site, gather up your current insurance policy, have your driver's license number handy and your vehicle registration by your side. Now you're ready to adequately compare auto insurance.
Keep in mind that some companies may not be able to give you a quote right away. You may have to wait for them to send you an e-mail or contact you later. If you're pressed for time, you can always pick up the phone and speak to a live agent.
While comparing auto insurance, keep a record of what you find so that you can compare your notes later. When visiting each auto insurance company website or talking to a live representative, you should take note of several things:

• Make sure to keep your coverage limits the same with each company so that you can later compare the difference in the annual and monthly rates.
• Jot down a toll-free number for each company you are comparing so that you can call to ask questions you can't get answered online.
• Know when your payment will be due and what will happen if you are late on any of your payments.
• Find out what discounts each auto insurance company offers and which ones you'll be able to take advantage of.
• When you compare auto insurance, it's important to look up each company's ratings from consumers and from a financially stable standpoint.

Even though the Internet has an immense amount of information about car insurance, all of your questions may not be answered from the Internet alone. Don't be afraid to pick up the phone and ask away. You need to make sure you know the ins and outs of each company before you can fairly compare auto insurance coverage from each and make an educated decision.

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Florida Median Auto Insurance Rate Now $787 per Household in live concerns

SACRAMENTO, CA, Apr 28, 2010 (MARKETWIRE via COMTEX) -- The median six-month auto insurance rate in Florida has increased approximately 4.8 percent over the last six months to reach $787 according to InsWeb /quotes/comstock/15*!insw/quotes/nls/insw (INSW 5.10, +0.04, +0.79%) , a leading online insurance comparison provider.
InsWeb also reported Florida median auto insurance rates segmented by specific demographic groups. These rates are determined by grouping car insurance quote requests by primary policy applicant. They include:

-------------------------  ---------------------
              Demographic Group          Median Six-Month Rate
              -------------------------  ---------------------
              Men                                         $811
              -------------------------  ---------------------
              Women                                       $754
              -------------------------  ---------------------
              Age Group: 19 and younger                  $1644
              -------------------------  ---------------------
              Age Group: 20 to 24                        $1134
              -------------------------  ---------------------
              Age Group: 25 to 29                         $860
              -------------------------  ---------------------
              Age Group: 30 to 39                         $782
              -------------------------  ---------------------
              Age Group: 40 to 49                         $783
              -------------------------  ---------------------
              Age Group: 50 to 59                         $683
              -------------------------  ---------------------
              Age Group: 60 to 74                         $687
              -------------------------  ---------------------
              Age Group: 75 and older                     $843
              -------------------------  ---------------------
          Rates provided by InsuranceRates.com, an InsWeb property.

Florida rate statistics:

--  Men in Florida pay a median auto insurance rate that is almost eight
    percent higher than the rate paid by women.

--  Drivers in Florida 19 years of age and younger pay a median auto
    insurance rate that is almost 2  1/2 times higher than the rate paid
    by drivers ages 50 to 59.

--  The Florida median rate increase of 4.8 percent over the last six
    months is notably higher than the national median rate increase of
    approximately 2.1 percent over the same period.

--  A Florida household that pays the six-month median rate of $787 and
    earns the Florida household median annual income of $39,623 pays
    approximately 4.0 percent of its gross income for auto insurance. By
    this "affordability factor," Florida is the 11th most expensive state
    to insure a vehicle. Currently, Massachusetts is the most affordable
    state with a factor of 2.0 percent, while Louisiana is the most
    expensive with a factor of 7.1 percent.

Florida drivers who want to learn more about saving on their auto insurance and compare insurance quotes from leading national providers can visit InsWeb.com.
About InsWeb
InsWeb Corporation /quotes/comstock/15*!insw/quotes/nls/insw (INSW 5.10, +0.04, +0.79%) owns and operates a network of leading insurance marketplace and education websites. Founded in 1995 and headquartered in Sacramento, California, InsWeb's primary properties include InsWeb.com, InsuranceRates.com, LocalInsuranceAgents.com, and AgentInsider.com. In 2009, more than 10 million consumers turned to InsWeb for answers to their insurance questions.
About InsuranceRates.com's(TM) Median Rate Data
To determine median national auto insurance rates, InsuranceRates.com uses comprehensive profiles of InsuranceRates.com customers as well as a proprietary system that tracks the rating algorithms of multiple insurance carriers in each state. Median rates are determined using actual customer profiles that can include multiple drivers, multiple vehicles and other variables.
InsuranceRates.com's auto insurance rate data is also accessible via the InsuranceRates.com Auto Insurance Rate Trend Tool. To view, please visit: http://www.insurancerates.com/media-center/insurance-widgets.html and click on "View Widget." Please note that the Trend Tool is updated daily and uses fewer carrier algorithms than the data above. As such, rates displayed in the tool may vary from those shown in this press release.
To request more information about rates and rate trends in your region, please visit: http://www.insurancerates.com/press-requests.html.

Media Contact:
Jonathon D. Tudor
InsWeb Corporation
(916) 853-3386
Email Contact

SOURCE: InsWeb Corporation

http://www2.marketwire.com/mw/emailprcntct?id=8D8D4249066F0384

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