Industry News Financial Times - Property Financial Times - Property US borrowers pay down mortgages More homeowners are paying down their principal balances when they refinance their mortgages, reversing a trend that became popular during the housing bubble, when rising prices allowed borrowers to "cash out" by taking on more debt, Freddie Mac, the government-sponsored mortgage finance company, said CBRE upbeat on global recovery The world's largest real estate consultancy reports the strongest growth in revenue and earnings since 2007 as it benefits from the global recovery in commercial property activity Foreclosures jump among prime US borrowers Credit-worthy clients with straightforward mortgages have entered foreclosures at a record pace of 425% since January 2008, says a Lender Processing Services report Nil-premium merger far from a case of plain sailing The time has almost come for shareholders of F&C Commercial Property and UK Commercial Property to cast votes in what is shaping up to be a nail-biting conclusion to a seemingly simple proposal Housebuilders hit by US tax credit hangover The last day of April and the end of the first-time buyer tax holiday was expected to be a dark day for US housebuilders. Yet few anticipated how sharply activity levels would fall once government support was removed Chinese property insider denies bubble Wilfred Wong, a deputy of the National Congress of the People's Republic of China and executive chairman China of Pacific Star Group, a property investment firm, on China's property market Chelsea Barracks developer apologises to Prince Christrian Candy has settled a legal dispute with a property company backed by Qatar over the proposed £3bn residential project on a prime site in London Candy makes cash offer for miner Christian Candy, one of London's best known property developers, launches a £35.8m bid to take control of Metals Exploration, a small gold mining company Targetfollow seeks MPs' help The owner of a large property portfolio that includes the Centre Point tower in London has enlisted the help of his local MPs to stave off administration KiFin seeks Minerva meeting The investment company of billionaire Nathan Kirsh has called for a meeting of shareholders in the developer, to vote on proposals to overhaul the board Development Securities plans to raise £94m The property developer and investor wants additional funds to exploit what it sees as a lack of equity and debt available for new development in the UK LandSecs restarts stalled project The UK's biggest property company will start development of the first large shopping scheme since the recession struck in a sign of confidence in the strength of the regional retail market Clydesdale Bank customers hit by repayment error Thousands of Clydesdale Bank mortgage customers are facing higher monthly mortgage payments after the lender admitted it had miscalculated repayments on some of its variable rate mortgages due to a software error Derivatives reform to punish property industry It is becoming clear that the European property industry risks being one of the biggest victims of regulatory overreach KiFin pushes for change at Minerva Property has always been an interest for Nathan Kirsh, but has only recently become a main focus, and in this context he is pursuing Minerva, the London developer