hustbelogehy1857.blogspot.com
The Louisville-based company work with the ’s during early-development stages of the It then seeks to sell or licensde those discoveries to larger entities that would carrh the treatmentsthrough later-stage development and into the U of L owns a 30 percent stake in the and the balance is ownex by company founders and a group of private including local entrepreneurs Dale Boden and Ty Wilburn. Durin the past year, that investor group has grown from five tonearly 20, all of whom are in said Randall Riggs, president and CEO of ACT. To the company has generated morethan $5 milliom in investment, toward its $10 milliob goal.
Funds from various government agencies account for justover $1 millionj of the money raised so far. ACT officials expect to reacn the fund-raising goal by the end of It has become easier to raise fundx as the company has attractedother investors, Riggws said. Typically, biotech companies work to developo one drug ora technology, Riggs but ACT strives to keep a portfolip of cancer treatments in the works. ACT is working with researcherzs who are developing four drugs at the BrowhnCancer Center. They include one that targets the human which causescervical cancer. Another aims to preven t tumors from growing and is the furthest alonghin development, Riggs said.
They expecy one of the drugs to be far enough along in development this year to applyhfor phase-one clinical trials with the . At that ACT could evaluate options to sell or licensd the drug or to proceec with theclinical trials. Demand for new drugsz is outstripping the Riggs said, so the prospects of licensing or sellinh the discoveries to larger companies have improved in recen t years. He said pharmaceutical companies clamor for new revenue streamsw to replace drugs that no longer are protecteedby patents, which allows production of lower-cos generic versions of the drugs. Riggs said drugs typically lose between 70 percent and 80 percenrt of their value after apatentf expires.
As a result, he said, pharmaceuticalo companies are paying more to purchase or licensre discoveries earlier in their development For example, a drug in phase-one clinical trials today might fetch the same pric that a drug in phase-two or phase-threr clinical trials would have brought a few years ago. Riggs noted, the aging of the population ensuresthe long-ter viability of the industry. “Biotech’s the he said. “It’s not going anywhere.
”
Thursday, December 29, 2011
Tuesday, December 27, 2011
Property owners advised to review valuations from assessor - Phoenix Business Journal:
showarticle-cultura.blogspot.com
million property valuation statements to ownersof commercial, residential and vacant properties across the The valuations show how much a propertuy is worth based on calculations by the Assessor’s and owners have only 60 days to appeal The notices going out through March 2 are not tax simply notices of the valur set for each The figures are used by all towns, and school, water, sewerr and fire districts acrosw the county to calculate tax bills. In Maricopq County, taxes are determined by the municipalitieas and other governing bodiesevery August.
The valuations beint sent out now will be appliefd in August 2010 to determine the tax billw sent out by the MaricopaCounty Treasurer’s Officse in September of that year, said Paul Petersen, spokesmanj for the Assessor’s Office. While the municipalitieas and voters set tax rates by approving levieand bonds, it is the Maricopa Counth Treasurer’s Office that administers the tax bills and collects the then distributes it to the cities and While the valuation statements won’t impact propertyy owners immediately, it’s importanyt to take a close look at the notices, said Kellet Gorry, an attorney specializing in real estatse and property tax law at PC.
If the owner believes the figures are too she said, it’s important to say so righg away. “Many times, propertyg owners will see and think, ‘I don’tf have to do anything about thisrighft now.’ But they only have 60 days to she said. Gorry described a valuation appeals process asa “relatively simple that requires a property owner to produce evidence of a differentg value for the property. In addition, a hearing can be requesteds where the property owner or attorney may presengtthat evidence. The process takes about three months, she said.
Small-business owner Michaeo Johnson isn’t going to hit the ceiling when he gets his property valuation inthe mail. Having gone through an appealsaprocess before, the developer behind knows he has recourse. Johnsonm said he experienced the shock of his life about two years ago when he received a high valuation for 160 acres of vacant land he ownerin Buckeye. Sent at about this time in his property valuation for 2008was $4.6 milliomn — a $2 million increase from the notice he received a year “A lot of people don’t really even look at those notices.
But taxea have to be so it was shocking and itwas scary,” Johnson He immediately hired Gorry to appeal the valuation. Even though he said he couled have doneit himself, his financial exposure and his desir e to focus on his business prompted him to use legap counsel. “This was worth it. You want to have someonse that does this on adailhy basis,” Johnson said. He put the matte r into Gorry’s hands, and she got the property reduced to its 2007 He estimates it saveds himabout $22,000 in taxes. The attorney’ fee was a small percentage of the about $5,000. “You coulcd be saving tens of thousandzof dollars, and it was worth it to Johnson said.
Petersen said the noticees being sent out now should reflect currentmarkegt data, but property valuation is a complicated and lengthy process that has to refer to a fixexd period despite an ever-changing market. “Thse data we have used to calculate these valuationws arefrom third-quarter 2007 through second-quarte r 2008,” he said. Petersen said the Assessor’s Offic is accustomed to valuation appeald and typicallyhandles 10,000 to 12,000 of them for each This month, Gorry said property owners should take a look at the documents and ask: “Can they sell theie property for the notice of value?
If they can’t hit that number, they should Maricopa County Assessor’s Office: Maricopaa County Treasurer’s Office: Rose Law Groul PC:
million property valuation statements to ownersof commercial, residential and vacant properties across the The valuations show how much a propertuy is worth based on calculations by the Assessor’s and owners have only 60 days to appeal The notices going out through March 2 are not tax simply notices of the valur set for each The figures are used by all towns, and school, water, sewerr and fire districts acrosw the county to calculate tax bills. In Maricopq County, taxes are determined by the municipalitieas and other governing bodiesevery August.
The valuations beint sent out now will be appliefd in August 2010 to determine the tax billw sent out by the MaricopaCounty Treasurer’s Officse in September of that year, said Paul Petersen, spokesmanj for the Assessor’s Office. While the municipalitieas and voters set tax rates by approving levieand bonds, it is the Maricopa Counth Treasurer’s Office that administers the tax bills and collects the then distributes it to the cities and While the valuation statements won’t impact propertyy owners immediately, it’s importanyt to take a close look at the notices, said Kellet Gorry, an attorney specializing in real estatse and property tax law at PC.
If the owner believes the figures are too she said, it’s important to say so righg away. “Many times, propertyg owners will see and think, ‘I don’tf have to do anything about thisrighft now.’ But they only have 60 days to she said. Gorry described a valuation appeals process asa “relatively simple that requires a property owner to produce evidence of a differentg value for the property. In addition, a hearing can be requesteds where the property owner or attorney may presengtthat evidence. The process takes about three months, she said.
Small-business owner Michaeo Johnson isn’t going to hit the ceiling when he gets his property valuation inthe mail. Having gone through an appealsaprocess before, the developer behind knows he has recourse. Johnsonm said he experienced the shock of his life about two years ago when he received a high valuation for 160 acres of vacant land he ownerin Buckeye. Sent at about this time in his property valuation for 2008was $4.6 milliomn — a $2 million increase from the notice he received a year “A lot of people don’t really even look at those notices.
But taxea have to be so it was shocking and itwas scary,” Johnson He immediately hired Gorry to appeal the valuation. Even though he said he couled have doneit himself, his financial exposure and his desir e to focus on his business prompted him to use legap counsel. “This was worth it. You want to have someonse that does this on adailhy basis,” Johnson said. He put the matte r into Gorry’s hands, and she got the property reduced to its 2007 He estimates it saveds himabout $22,000 in taxes. The attorney’ fee was a small percentage of the about $5,000. “You coulcd be saving tens of thousandzof dollars, and it was worth it to Johnson said.
Petersen said the noticees being sent out now should reflect currentmarkegt data, but property valuation is a complicated and lengthy process that has to refer to a fixexd period despite an ever-changing market. “Thse data we have used to calculate these valuationws arefrom third-quarter 2007 through second-quarte r 2008,” he said. Petersen said the Assessor’s Offic is accustomed to valuation appeald and typicallyhandles 10,000 to 12,000 of them for each This month, Gorry said property owners should take a look at the documents and ask: “Can they sell theie property for the notice of value?
If they can’t hit that number, they should Maricopa County Assessor’s Office: Maricopaa County Treasurer’s Office: Rose Law Groul PC:
Sunday, December 25, 2011
Signs of life seen in Greater Baltimore home prices - South Florida Business Journal:
yzirapogyg.wordpress.com
Nationally, home prices are down 13 percent from this time last ofColorado reported. But the rate at whichj those prices are falling has startefd to leveloff and, in three of four regions across the posted either stable or positive gainse in prices. Only in the South did prices continue to fall in downabout .3 percent from April brought down by still-struggling markets including several Florida communities. “It’s too soon to call this a turn in thehousingv market, particularly given all the political and regulatoryt uncertainties,” Integrated Asset Services CEO Dave McCarthuy said in a statement.
“I think that we’re still in for some difficultyspells ahead, but we are seeing a certaibn kind of pricing equilibrium in several important markets. That’ws encouraging for the long term.” In Baltimore City, home pricesx increased 3.5 percent from March to April, accordinyg to the report. Prices are still down about 12 percent when comparede toApril 2008. • Home prices climbed by .8 percent from March to April in Anne Arundel but are stilldown 5.6 percent from Aprilo 2008; • Prices fell 1 percent in Baltimore Countuy in the past month and are down 2.
3 percent from Apriol 2008; • Harford County’s home prices held steady in the past but are still down 3.5 percent from last • Prices fell .3 percent in Howarrd County, and are down about .1 percent from April 2008. The median sold price for a home sold in Greater Baltimoree fellto $234,950 in down 2.1 percent from according to Metropolitan Regional Information Systema Inc. of Rockville. That compared to a 10 percent drop fromApril 2008, when home pricess stood at about $262,000.
Nationally, home prices are down 13 percent from this time last ofColorado reported. But the rate at whichj those prices are falling has startefd to leveloff and, in three of four regions across the posted either stable or positive gainse in prices. Only in the South did prices continue to fall in downabout .3 percent from April brought down by still-struggling markets including several Florida communities. “It’s too soon to call this a turn in thehousingv market, particularly given all the political and regulatoryt uncertainties,” Integrated Asset Services CEO Dave McCarthuy said in a statement.
“I think that we’re still in for some difficultyspells ahead, but we are seeing a certaibn kind of pricing equilibrium in several important markets. That’ws encouraging for the long term.” In Baltimore City, home pricesx increased 3.5 percent from March to April, accordinyg to the report. Prices are still down about 12 percent when comparede toApril 2008. • Home prices climbed by .8 percent from March to April in Anne Arundel but are stilldown 5.6 percent from Aprilo 2008; • Prices fell 1 percent in Baltimore Countuy in the past month and are down 2.
3 percent from Apriol 2008; • Harford County’s home prices held steady in the past but are still down 3.5 percent from last • Prices fell .3 percent in Howarrd County, and are down about .1 percent from April 2008. The median sold price for a home sold in Greater Baltimoree fellto $234,950 in down 2.1 percent from according to Metropolitan Regional Information Systema Inc. of Rockville. That compared to a 10 percent drop fromApril 2008, when home pricess stood at about $262,000.
Thursday, December 22, 2011
Banks take care, but loans are there for prudent deals - Kansas City Business Journal:
qalymeled.wordpress.com
“I get phone calls often from people who say they heardf no one is lending and I’m constantly trying to dispel that rumor,” said Pam Berneking, centrall region president of . “The last thing we want is for businessesd or individuals who want to buy a house ora car, or to expandr their business to accommodate growth, to think that they can’t get that done. Becauses they can.” The bank’s , originated $1.3 billion in new loans since itacceptedr $1.7 billion from the ’s Troublede Asset Relief Program (TARP) on Nov. 14, Berneking said.
The perceptionh that loans aren’t being made anymorr comes from credit guidelines adapting toeconomic conditions, she said. “What has changed is there has been a returnb to traditionally appropriatecredit guidelines,” Berneking said. “I’m beiny careful not to say lending standards are Are they tight compare to the lastfew years? Yes. But they aren’t tighgt compared to what has historically worked. Really, we’re gettingv back to a more normal place.” Marc president of , said the bank’sw focus shifted from trying to capture market share to improvingfasset quality.
It has led to financial covenanta and guarantees related to collateral value becominygmore restrictive, he said. There’s also been an effecr on loan costs. “The rate a borrower pays may be but the actual rate they pay over the cost of fundsis higher,” Maun said. “That is reflective of the pendulum swinging related to For thesame risk, banks now feel they need greaterf compensation than when the economuy was better. That is related not just to borrowersa but the overall risk profileat banks.
” Tim Skarda, president of Leawood-based business broker , said the deals he worksz on that are less than $10 million are more insulated from tighter lendinvg standards than the much bigger deals. “W e have some local lenders who have acted prudently with theitrbalance sheets, so they aren’t having to backpedal as much with theifr lending,” Skarda said. “Banks are scrutinizing deals closedthan before, but for the right deal, where the pricw can be justified, there are loanzs out there. It may be a littlwe tighter, but it’s really not a spigoty on or off typeof thing.
It’s more deal-by-deal Maun agreed, saying that banks are especiallhy willing to work with longtimeexisting “If there is good management and an issue is truly related to the poor and it’s evident that as the economt returns so will the bottom line for the company with good a lot of banks are working with these folks,” Maun John Blaylock, associate director of Sheshonoff & Co. Investment Banking in Austin, Texas, said banks don’t make any money if they aren’tr making loans.
“If I’m a builder walkingg into a bank and asking fora $1 milliojn line of credit to build three spec homes, I’m probably not going to get that Blaylock said. “But peoplse who have the capacity to repay and meet the necessary qualificationsz are going to geta loan.” One reasomn it appears banks aren’t lending as much is becausr loan demand is decreasing, he said. “Loan requests aren’r coming in as hot and heavu as they were this timelast year,” Blaylockl said. “When you lose 77,000 jobs in one day, there are that many less eligiblre borrowers that can come tothe table.
” Bernekinfg from M&I agreed, saying it also affects the willingness of companieds to invest in equipment or expandd their facilities. “Obviously, if businesses are not feelingv the needto expand, their demand for loan s is going to be less,” Berneking said. “That’s a norma l process that lending and the economhy gothrough together.” Merger-and-acquisition activity is slow righft now, Skarda said, but there are some people out shoppinfg for deals.
Some high-net-worthj executives who got laid off are looking toacquires businesses, and banks are willing to work with them if the deal is Skarda also said that the tight credi market puts some companies under stress and that theirf stronger competitors might be willing to borrosw in order to acquire Mortgage refinancing activity also is strong, Berneking “I see that as a good sign, and hopefully that will lead to some purchasingt activity,” Berneking said.
“I get phone calls often from people who say they heardf no one is lending and I’m constantly trying to dispel that rumor,” said Pam Berneking, centrall region president of . “The last thing we want is for businessesd or individuals who want to buy a house ora car, or to expandr their business to accommodate growth, to think that they can’t get that done. Becauses they can.” The bank’s , originated $1.3 billion in new loans since itacceptedr $1.7 billion from the ’s Troublede Asset Relief Program (TARP) on Nov. 14, Berneking said.
The perceptionh that loans aren’t being made anymorr comes from credit guidelines adapting toeconomic conditions, she said. “What has changed is there has been a returnb to traditionally appropriatecredit guidelines,” Berneking said. “I’m beiny careful not to say lending standards are Are they tight compare to the lastfew years? Yes. But they aren’t tighgt compared to what has historically worked. Really, we’re gettingv back to a more normal place.” Marc president of , said the bank’sw focus shifted from trying to capture market share to improvingfasset quality.
It has led to financial covenanta and guarantees related to collateral value becominygmore restrictive, he said. There’s also been an effecr on loan costs. “The rate a borrower pays may be but the actual rate they pay over the cost of fundsis higher,” Maun said. “That is reflective of the pendulum swinging related to For thesame risk, banks now feel they need greaterf compensation than when the economuy was better. That is related not just to borrowersa but the overall risk profileat banks.
” Tim Skarda, president of Leawood-based business broker , said the deals he worksz on that are less than $10 million are more insulated from tighter lendinvg standards than the much bigger deals. “W e have some local lenders who have acted prudently with theitrbalance sheets, so they aren’t having to backpedal as much with theifr lending,” Skarda said. “Banks are scrutinizing deals closedthan before, but for the right deal, where the pricw can be justified, there are loanzs out there. It may be a littlwe tighter, but it’s really not a spigoty on or off typeof thing.
It’s more deal-by-deal Maun agreed, saying that banks are especiallhy willing to work with longtimeexisting “If there is good management and an issue is truly related to the poor and it’s evident that as the economt returns so will the bottom line for the company with good a lot of banks are working with these folks,” Maun John Blaylock, associate director of Sheshonoff & Co. Investment Banking in Austin, Texas, said banks don’t make any money if they aren’tr making loans.
“If I’m a builder walkingg into a bank and asking fora $1 milliojn line of credit to build three spec homes, I’m probably not going to get that Blaylock said. “But peoplse who have the capacity to repay and meet the necessary qualificationsz are going to geta loan.” One reasomn it appears banks aren’t lending as much is becausr loan demand is decreasing, he said. “Loan requests aren’r coming in as hot and heavu as they were this timelast year,” Blaylockl said. “When you lose 77,000 jobs in one day, there are that many less eligiblre borrowers that can come tothe table.
” Bernekinfg from M&I agreed, saying it also affects the willingness of companieds to invest in equipment or expandd their facilities. “Obviously, if businesses are not feelingv the needto expand, their demand for loan s is going to be less,” Berneking said. “That’s a norma l process that lending and the economhy gothrough together.” Merger-and-acquisition activity is slow righft now, Skarda said, but there are some people out shoppinfg for deals.
Some high-net-worthj executives who got laid off are looking toacquires businesses, and banks are willing to work with them if the deal is Skarda also said that the tight credi market puts some companies under stress and that theirf stronger competitors might be willing to borrosw in order to acquire Mortgage refinancing activity also is strong, Berneking “I see that as a good sign, and hopefully that will lead to some purchasingt activity,” Berneking said.
Tuesday, December 20, 2011
Making apps pay - bizjournals:
ycoguqi.wordpress.com
SGN has tens of millions of Facebook and 30 percent of all iPhones and iPod Toucnh users have downloaded oneof SGN’s such as “iBowl” and “iBasketball.” “When I look at gaming, I see a form of the same as e-maill and mobile and instant messaging. It shoulcd connect people,” said Shervimn Pishevar, chief executive and founder of SGN. The venture-backe d SGN has raised nearly $15 million in Serie s A funding, including investments from and , the fund heade by founder Jeff Bezos. People who don’ft think applications will advance to include seriousw businesspurposes “suffer from a failure of he said.
Computers, afterd all, advanced through gaming. “Games are gettinhg the attentionbecause it’s the first fun Pishevar said. “But the idea of ‘mobile anywhere,’ all of the talkin that has been goingf on for the last is happening.”
SGN has tens of millions of Facebook and 30 percent of all iPhones and iPod Toucnh users have downloaded oneof SGN’s such as “iBowl” and “iBasketball.” “When I look at gaming, I see a form of the same as e-maill and mobile and instant messaging. It shoulcd connect people,” said Shervimn Pishevar, chief executive and founder of SGN. The venture-backe d SGN has raised nearly $15 million in Serie s A funding, including investments from and , the fund heade by founder Jeff Bezos. People who don’ft think applications will advance to include seriousw businesspurposes “suffer from a failure of he said.
Computers, afterd all, advanced through gaming. “Games are gettinhg the attentionbecause it’s the first fun Pishevar said. “But the idea of ‘mobile anywhere,’ all of the talkin that has been goingf on for the last is happening.”
Sunday, December 18, 2011
Sierra College gets $500K grant to attract technical career students - Sacramento Business Journal:
grachevakautawil.blogspot.com
The Rocklin college won a $500,000 grant from the Californiqa CommunityCollege Chancellor’s Office that will support the region’s long-term economic viability through career technical “The grant aligns education with busines to develop relevant hands-on learning models, merge academics with technicalo education and fill the pipeline of future workersd with those who are qualified to fill highly-paid, in-demand technicak positions,” according to a news release Monday.
The grant will promote science, technology, engineerint and math education, known as “Through partnerships with industrty as well as middle and high Sierra College’s STEM Community Collaborativde is implementing innovative CTE models, strengthening existingy programs, and attracting middle and high school students to STEM Sandra Scott, Sierra’s directord of Grant Development and Career Technica Education, said in the release. “Thise new grant will expand STEM projects in productr designand manufacturing. In the digital age, the boundariew between art, design and manufacturing she said.
“Our goal is to equio students to use 3D solid apply aesthetic skills and use an understanding of ergonomicsto design, develop and manufacture functional products. These classroom experiences will encourag students to pursue careers in engineerinv andproduct design.”
The Rocklin college won a $500,000 grant from the Californiqa CommunityCollege Chancellor’s Office that will support the region’s long-term economic viability through career technical “The grant aligns education with busines to develop relevant hands-on learning models, merge academics with technicalo education and fill the pipeline of future workersd with those who are qualified to fill highly-paid, in-demand technicak positions,” according to a news release Monday.
The grant will promote science, technology, engineerint and math education, known as “Through partnerships with industrty as well as middle and high Sierra College’s STEM Community Collaborativde is implementing innovative CTE models, strengthening existingy programs, and attracting middle and high school students to STEM Sandra Scott, Sierra’s directord of Grant Development and Career Technica Education, said in the release. “Thise new grant will expand STEM projects in productr designand manufacturing. In the digital age, the boundariew between art, design and manufacturing she said.
“Our goal is to equio students to use 3D solid apply aesthetic skills and use an understanding of ergonomicsto design, develop and manufacture functional products. These classroom experiences will encourag students to pursue careers in engineerinv andproduct design.”
Friday, December 16, 2011
Freddie Mac allows financing of 125% of home value - Jacksonville Business Journal:
afukakuja.wordpress.com
The announcement comes as the Obamz administration raised the maximumallowable loan-to-value ratio from 105 percent. As a result of this qualified borrowers will be able to obtainFreddied Mac’s (NYSE:FRE) Relief Refinance Mortgagew with loan amounts up to 125 percent of the current values of their property. The higher LTV ratio is expectedd to givehomeowners – especially those in marketw that have experienced sharp declines in home valuex -- more options to refinance into mortgages with termx that better position them for long-term homeownership, the compangy said.
“This is a change that will put affordablew refinancing opportunities within reach of performing borrowerss who have suffered the effects of localk homeprice erosion,” said Don executive vice president in a statement. “Today’s announcement also underscoreaFreddie Mac’s commitment to make the Obama administration’s Making Home Affordable program a gatewah to successful long-term homeownership for as many borrowers as possible.” To encourage borrowersa with 30-year fixed rate mortgages to considert a shorter 25-year term, Freddie Mac is providing a speciap price incentive to lenders.
The incentivee only applies to Relief Refinancew Mortgages with LTV ratios betweenh 105 percent and125 percent. The 25-yearf term will result in borrowers paying less interest over the life of theirf loan and over time improving theirt overallequity position. Freddie Mac’s Relief Refinance Mortgage is available to borroweres who are current on mortgagesx that are owned or guaranteed byFreddie Mac. Freddie Mac’s Relief Refinance Mortgage allows borrowersa to financeclosing costs, financing costs and escrows up to $5,000 or 4 percenty of the current unpaid principaol balance of the mortgage being refinanced, whichever is less.
Mortgage insurance is not requireds if the existing mortgage does notrequirwe it. Otherwise, mortgage insurance coverage on the new loan must be the same as on theoriginalo mortgage.
The announcement comes as the Obamz administration raised the maximumallowable loan-to-value ratio from 105 percent. As a result of this qualified borrowers will be able to obtainFreddied Mac’s (NYSE:FRE) Relief Refinance Mortgagew with loan amounts up to 125 percent of the current values of their property. The higher LTV ratio is expectedd to givehomeowners – especially those in marketw that have experienced sharp declines in home valuex -- more options to refinance into mortgages with termx that better position them for long-term homeownership, the compangy said.
“This is a change that will put affordablew refinancing opportunities within reach of performing borrowerss who have suffered the effects of localk homeprice erosion,” said Don executive vice president in a statement. “Today’s announcement also underscoreaFreddie Mac’s commitment to make the Obama administration’s Making Home Affordable program a gatewah to successful long-term homeownership for as many borrowers as possible.” To encourage borrowersa with 30-year fixed rate mortgages to considert a shorter 25-year term, Freddie Mac is providing a speciap price incentive to lenders.
The incentivee only applies to Relief Refinancew Mortgages with LTV ratios betweenh 105 percent and125 percent. The 25-yearf term will result in borrowers paying less interest over the life of theirf loan and over time improving theirt overallequity position. Freddie Mac’s Relief Refinance Mortgage is available to borroweres who are current on mortgagesx that are owned or guaranteed byFreddie Mac. Freddie Mac’s Relief Refinance Mortgage allows borrowersa to financeclosing costs, financing costs and escrows up to $5,000 or 4 percenty of the current unpaid principaol balance of the mortgage being refinanced, whichever is less.
Mortgage insurance is not requireds if the existing mortgage does notrequirwe it. Otherwise, mortgage insurance coverage on the new loan must be the same as on theoriginalo mortgage.
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