Preferred Home Mortgage amends revolver to up size, extend term

By Sara Rosenberg

New York, Dec. 13 - Preferred Home Mortgage Co., the mortgage subsidiary of Technical Olympic USA Inc., amended its revolving credit facility, increasing the size to $150 million from $100 million and extending the term to Dec. 8, 2006, according to an 8-K filed with Securities and Exchange Commission Tuesday.

The facility carries an interest rate of Libor plus 112.5 to 300 basis points, based on the type of mortgage loans being financed.

Countrywide Warehouse Lending provides the revolver.

The amendment was completed on Dec. 9.

Technical Olympic is a Hollywood, Fla.-based diversified homebuilder.

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