Week in review - South Florida Business Journal:

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However, paychecks in South Floridza did not rise as fast as salaries in mostlarge counties. In Miami-Dade County, the average weekly wage in the third quarterwas $842, up 2.2 percent from the same periodc of 2007. In Broward County, the average weekly wage was up 2.2 percen to $792. In Palm Beach County, the averagw weekly wage was $811, up 0.9 of a percent. In the average weekly wage was $756 in the third quarter, up 2.2 Nationwide, the average weekly wage was $841 in the thirs quarter, up 2.8 percent. The formedr head of finance for has been charged with tax evasiojn in connection with his failure toreport $1.5 millioj he allegedly embezzled from the according to the U.S.
attorneuy for the Southern District of Harvey Fein of Coral Springs divertedd the money and then allegedly filesd false personal income tax returns for 2001 through according tocourt documents. Fein files a return stating hehad $119,976 in taxabl e income and $23,551 tax due and owintg for calendar year 2004, when the defendantg knew and believed that his taxable incomes for calendar year 2004 was $526,103.865 and taxes due were according to court The said its tax loss was about S. Fla. foreclosures up 33 percent South Florida foreclosurew actions rose 33 percent in thefirsty quarter, to 23,672 according to a new report from LLC.
The new numberds break down to an averages rate of 263 foreclosure actionsa day, accordinh to a news release accompanying the The company uses its foreclosure databasw to track court filingsx related to foreclosure, including lis pendene and notices of default. In firstf quarter of 2008, there were 17,820 foreclosurw actions filed inthe three-county region, for an averagew of 198 filings a day. Broward County had the greates number of foreclosure actionxs in thefirst quarter, with 10,290 actions, or 114 a day. That is a 39 percentg increase overthe 7,3932 actions filed in the first quarted of 2008, according to the report.
Miami-Dad County saw a 34 percent increase in foreclosurd actions in thefirst quarter, to 7,170. There were 5,370 filings in the countyu in the first 90 daysof 2008. Palm Beacg County had a 23 percent increase inforeclosure filings, to 6,212 actions in the first quarter from 5,057 filings in 2008. Apollo Bank has received preliminary approval from states regulators to open inCoral But, it first must meet certaib requirements, including raising at least $20 million. Once it raises the required $20 million, Apollo stil l needs approval from the andthe ’s boarxd to begin operations, according to Chairman Eddy Arriola.
Apollo would pursue a traditional business bank The bank has leased spacew at 1826 Ponce deLeon Blvd., and plans to open in Septembetr with about 11 employeesx in its first location. , a servicer of subprime mortgages, is amongb the first mortgage servicers to begi n modifying loans underthe ’s Home Affordabled Modification Program. The program, unveiled last allows at-risk borrowers to reduce theid monthly mortgage payments in an effor t to keep them from losin gtheir homes. It creates a $75 billion loan modificationh program that wouldallow “responsible homeowners” to refinancer to interest rates as low as 2 percent.
“W were well positioned for a vigorous launcu of this newgovernment program. Sincr the outset of the mortgags crisis, we have increased key staffingt by over65 percent,” Ocwen Chairman Willia C. Erbey said in a news For a loan modification, lendersa would have to reduce the mortgagw payments to no more than 38 percengt ofthe borrower’s income. The Treasury Department woulfd share the cost for lenders to cutthat debt-to-income ratio to 31