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
http://liveconcerns-waleed.blogspot.com/
Apr 30, 2010
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.
![[JUMBO]](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_vk20u5djQrGMK5g9oaJ1Pm4FDcUPiut0xT746w3UABOAXHQ1I777cWoxs4WzVsTwhsMFVLoc9SB3uE71n7ltRqhDYhejZKhX-G09t5oXPtBqMc3-hA11YYv6Vta095-wXwD0jB9jaHTnEalRvi4Evj=s0-d)
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."
http://liveconcerns-waleed.blogspot.com/
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.
![[JUMBO]](http://sg.wsj.net/public/resources/images/NY-AE630_JUMBO_NS_20100429190353.gif)
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."
http://liveconcerns-waleed.blogspot.com/
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
http://liveconcerns-waleed.blogspot.com/
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
http://liveconcerns-waleed.blogspot.com/
Apr 29, 2010
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)
http://liveconcerns-waleed.blogspot.com/
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)
http://liveconcerns-waleed.blogspot.com/
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.
http://liveconcerns-waleed.blogspot.com/
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.
http://liveconcerns-waleed.blogspot.com/
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.
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.
http://liveconcerns-waleed.blogspot.com/
“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.
http://liveconcerns-waleed.blogspot.com/
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.
http://liveconcerns-waleed.blogspot.com/
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.
http://liveconcerns-waleed.blogspot.com/
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.
http://liveconcerns-waleed.blogspot.com/
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.
http://liveconcerns-waleed.blogspot.com/
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:
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.
SOURCE: TF Financial Corporation
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
http://liveconcerns-waleed.blogspot.com/
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
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
- World Travel InsuranceInternational Travel Insurance Worldwide resident travel Cover www.worldwideinsure.com
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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
http://liveconcerns-waleed.blogspot.com/
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
http://liveconcerns-waleed.blogspot.com/
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
http://liveconcerns-waleed.blogspot.com/
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
http://liveconcerns-waleed.blogspot.com/
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:
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.
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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:
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.
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 ContactSOURCE: InsWeb Corporation
http://www2.marketwire.com/mw/emailprcntct?id=8D8D4249066F0384http://liveconcerns-waleed.blogspot.com/
Apr 28, 2010
Firmware Update 3.30 for Sony Play Station 3 in live concerns
Sony’s word famous gaming console Play Station 3 is loved by all types of gamers and movie enthusiasts alike. The console uses the latest technology and three dimensional gaming techniques. Although the PS3 has a worthy competitor by the name of XBOX360 from Microsoft, it is believed that the PS3 processing and graphics hardware contains features that are not used in current games, and will be unleashed as the software of the games evolves. Simply put, presently it may run games at the same quality as XBOX360, but in the future the same PS3 is going to show an exponential improvement in 3d quality of the games.On top of that the PS3 has advanced one step further from all the consoles in the world by releasing a firmware update (version 3.30) for 3D viewing for games and movies. That essentially means that you’d be able to watch movies on your TV just like in a 3D theatre, and the same goes for the games. Gamers would be able to experience games in full 3D wide angle viewing. Of course this won’t apply until the Sony Bravia 3D TV comes out, but still, whenever it comes out your PS3 would be ready for it, by the help of the new firmware version 3.30.
A firmware is a kind of an operating system for the PS3, so upgrading the firmware to 3.30 means that you’d be getting a lot of new features like the 3D viewing support and a special trophy management for all your games. The trophy management is a system by which you could share your progress in all your games with your friends to see who is better at what game.
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Buying the Counterfeit May Cost You More Than You Thought in live concerns
We want to look good but can’t always afford designer-name sunglasses. So what do some of us do? We buy a cheap knockoff or “gray market” item that looks just like the designer brand name, without the designer price. It signals to others — we hope — that we’re as cool and “with it” as anyone else (even when we can’t afford to be). But we may be getting more than we thought.
We are all aware of the potential consequences of buying fake, counterfeit items on the street — you might get a shabby knockoff or pay too much for it. But outside of questionable quality of such goods, there may be others costs you’re not even aware of. Buying counterfeit goods may actually make us feel less authentic — just like the cheap, knockoff sunglasses.
Worse yet, buying such goods may also increase our likelihood of behaving dishonestly and judging others as unethical.
In a series of four laboratory experiments, researcher Francesca Gino (2010) and colleagues set off to determine what, if any, impact buying counterfeit goods had on a person’s own self-evaluation and evaluation of others. What did they find?
Pretty wild. Simply wearing a pair of fake sunglasses influenced participants’ behavior in the experiment in ways they weren’t even aware of. People who wore fake sunglasses cheated more and were more likely to see others’ behaviors as unethical. People who wore the fake product felt more inauthentic, which the researchers theorized drove their changes in behavior.
It’s an interesting conclusion, but it has some limitations. The research was done only on female college students, so it’s not clear if we’d find the same behavior in men, or in older women and men. Indeed, a drive for acceptance and status is more often felt amongst younger individuals than those who are older and no longer feel the need to wear the latest fashion name in order to fit in. Women may also have a different reaction to wearing or using fake products than men.
It’s an intriguing finding to be aware of nonetheless, because it may impact not only the individual who buys and wears the counterfeit good, but those that person interacts with as well.
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10 Things Women Love About Men in live concerns
As fierce, independent women, we like to think that we don't need men. We can change our own tires…open our own jars…move our own furniture…Still, it sure is nice to have men around. Guys: Consider this a love letter from us to you. Below, ten things women love about men.— Steph Auteri
1. Their bodies. Yep, we said it. Even the scrawny hipster-types have biceps that make us swoon. Their hands are almost always bigger than ours. No matter what size a guy is, he can always make us feel small and delicate. And what's with those beautiful, provocative veins guys have on their arms? And facial hair! Sure, it gets scratchy, but it looks so darn sexy.
2. Their innate ability to do and understand things we can't. We hate having to rely on anyone but ourselves but sometimes it's just easier to ask him to take care of it. We beg forgiveness for the gross generalizations that are about to follow, but we always ask him to carry heavy objects up the stairs (that's mainly because of laziness; we're perfectly capable), hang pictures and kill large, scary bugs. Though after that time he pretended to throw that bug carcass at us and we screamed like a 5-year-old girl, we might not ask him again.
3. Their secret sensitive side. When a guy cries in front of you, it can feel as if you've won the emotional lottery. Tears are a sign of extreme intimacy, and the fact that he's let down his guard probably means that he cares about you deeply and trusts you. We also love it when we catch our man staring at us with what can only be described as "tenderness." And when he pulls us close for a quick hug, or kisses the top of our heads, our hearts just melt.
4. Their scent. Their body wash. Their aftershave. Their (subtly-spritzed-on) cologne. Their natural, musky fragrance. All of it combines to create a perfume we can't help wanting to envelop ourselves in. The Scent of Attraction
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DKNY Pure (2010): More than just a Drop of Vanilla {Perfume Review} in live concerns
"PureDKNY speaks to the core essence of who I am and what I want to touch -- the people and children I love, and being at one with nature, It's about those little moments that bring you joy, pure and simple. Sometimes, those simple things are the hardest to find."
Donna Karan
Pure by DKNY was launched around the globe in February 2010 but won't officially launch in the US before July. According to WWD, it is a fragrance that wants to promote ethical living and the feminine condition, ideas that are embodied by a single raw material, vanilla from Uganda, which was sourced with the help of humanitarian association Care in order to help Ugandan women. "CARE is excited to partner with PureDKNY on an initiative that will support women in Uganda, while also educating U.S. consumers about the important role women play in breaking the cycle of global poverty," said Helene D. Gayle, president and chief executive officer of CARE.
The fragrance is taking for symbol of its mission "a drop of vanilla" which illustrates the idea of making small incremental differences in the world, one drop of soothing-smelling vanilla at a time.
Pure by DKNY opens on a sweet note and much more tonka bean than I would expect from a fragrance called "Pure." It is actually the Ugandan vanilla note which is the central note of the composition, one that was described by Trudi Loren of Estée Lauder as offering a unique "creamy fluidity." It is not so ethereal after all. I expected a more crystalline, impalpable scent after browsing the advertising campaign featuring Angela Lindvall. Rather, it seems to pull the fragrance in the direction of a pure nursery ambiance of cuddly smells like vanilla-scented cereals cream for babies and tots but as if it were lingering on a blue woolen blanket near a bottle of baby powder and then - as it gained some intensity - could be traced back to mommy's perfume. The "tonka" which is not officially listed but could have been added to reinforce the vanilla-in-water accord is a bit mineral and "hard;" I realize after a little while that this stony aspect in my mind is one I associate with laundry-detergent-types of white musks which are not particularly subtle and seem to have been contaminated by the hard water in which they are meant to swish around...perfume for men ii in live concerns
Omega watches have released their first men's fragrance called Omega Aqua Terra. It was composed for the elegant and sport-oriented man by perfumer Alberto Morillas who happens to be a connoisseur and collector of luxury watches. "Like the watch, the fragrance conveys the essence of the wearer's personality. Just as there is a subtle complicity between the watch and its owner, there is an understated bond between a man and the fragrance he
chooses."...
"Like the watch, the fragrance is in direct contact with his skin. His watch is the first accessory he puts on in the morning and the last one he takes off at night (if, indeed, he takes it off). He also puts his fragrance on before he leaves the house in the morning and it will be an intimate expression of his personality throughout the day."
The eau de toilette is said to be both an aromatic woody scent with spicy and fresh facets. It includes notes of of bergamot, grapefruit, tangerine, petitgrain, clary sage; jasmine, red pepper bell, and violet leaves; luxurious woods, refined oak moss, patchouli, vetiver and musk.
The opaque black flacon for the scent reveals a watch-like precision feature on its sides which allows the perfume-wearer to gauge the level of remaining fragrance while the perfume benefits from the protective effect of a light-resistant material.
Available exclusively in Omaga boutiques in 50 and 100 ml bottles. It comes with a "a reusable micro-fibre pouch which can be used to polish a watch face, jewellery or glasses. "
Via omegawatches.com
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perfume for men in live concerns
Balmain Parfums will reintroduce their classic men's cologne Ebène (Ebony) originally launched in 1983 this summer. The aromatic leather fougère in the style of the 70s-80s had been discontinued while being still visibly on demand. Repeated "out of stock" mentions at online discounters continue to signal its enduring desirability...The relaunch of Ebène is scheduled for towards the end of June, beginning of July 2010.
This time and reading in-between the lines of the olfactory description of the fragrance, the scent will likely benefit from the advances in the technology of perfume where fresh facets and citrus notes are concerned.
"Ebony the king of trees since the dawn of time is a precious wood which heralds riches, power and glory...
Offering a powerful harmony of hesperidic and woody notes, Ebony is a tenacious and fresh perfume."
The Eau de Toilette opens on notes of bergamot, lemon, anise and thyme. The heart comprises rose, jasmine, geranium, pine, cinnamon, carnation. The base notes rest on oakmoss, patchouli, musk, labdanum, tonka bean.
In the original French:
"L'Ebène, le roi des arbres depuis la nuit des temps, bois précieux, annonciateur de richesses, de puissance et de gloire...
Harmonie puissante de notes hespéridées et boisées, EBENE est un parfum frais et tenace.
"Notes de TêteVia Balmain
Bergamote, Citron, Anis, Thym
Notes de Cœur
Rose, Jasmin, Géranium, Pin, Cannelle, Œillet
Notes de Fond
Mousse de chêne, Patchouli, Musc, Labdanum, Fève Tonka"
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