Delta Funding Corp. said Tuesday that it would meet analysts' earnings
Home equity lenders like Delta have been struggling to generate up-front
The announcement sent the company's stock up 75 cents on Tuesday, to
Delta was trading at $7.6875 at midday Wednesday.
According to First Call, analysts expect Delta to report earnings of 28
This is up from the third quarter's 20 cents but down significantly from
Hugh Miller, chief executive of Woodbury, N.Y.-based Delta, said its
"We are extremely pleased with the way we are emerging from the fixed-
Home equity lenders have struggled in the past year as investors lost
Industry analysts and executives have predicted that stock of companies
Shares of Amresco Inc., Dallas, also rose this month as investors
Delta said it has about $750 million of warehouse lines. In early
Investor demand for the securities was strong, the company said.
Loan prepayments are still slowing down, Delta said.
It also noted that it uses cash-in accounting, a method favored in