Foreclosures | Mortgages | Financing
A new memo about future plans reportedly from House Financial Services Committee Chairman Rep. Jeb Hensarling, R-Texas, reveals an even more aggressive version of the Financial CHOICE Act, the Republican-led effort to repeal and replace Dodd-Frank. The memo, obtained by CNBC’s by Ylan Mui, shows the Consumer Financial Protection Bureau is slated to face some of the most drastic changes. Is this finally the end for CFPB Director Richard Cordray? …read more
From:: Real Estate Wire
Fresh off another strong quarter and year, Ellie Mae is adding a seasoned executive to it ranks to oversee the company’s internal information technology and systems. Ellie Mae announced recently that John Abel will be joining the company as senior vice president and chief information officer. …read more
From:: Real Estate Wire
It was another strong year for Ellie Mae, as the company reported Thursday that it saw solid financial results in 2016. And while the company didn’t see a third straight record-breaking quarter from a revenue perspective, the fourth quarter was another solid one for Ellie Mae. …read more
From:: Real Estate Wire
Each month the Consumer Financial Protection Bureau releases a monthly complaint snapshot generally highlighting all the complaints it receives. This month’s report, however, spotlighted the mortgage industry, giving extra insight to what feedback the bureau is getting from angry homeowners. …read more
From:: Real Estate Wire
Hortonworks Inc. shares rallied in the extended session Thursday after the business software company turned in a narrower-than-expected loss for the quarter. Hortonworks shares jumped 12% to $11.41 after hours. The company reported an adjusted fourth-quarter loss of 50 cents a share on revenue of $52 million. Analysts surveyed by FactSet had forecast a loss of 60 cents a share on revenue of $48 million. Hortonworks forecast revenue of $52 million for the first quarter, and between $235 million and $240 million for the year. Analysts expect $52 million for the first quarter, and $234.7 million for the year.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
For the second week in a row, interest rates on residential loans didn’t change much. It’s possible that the trend could extend to three weeks.
Thirty-year fixed rates were reported at 4.17 percent in Freddie Mac’s Primary Mortgage Market Survey for the week that ended on Feb. 9.
Long-term interest rates on home loans improved by 2 basis points compared to the prior survey — when mortgage rates also moved little.
From:: Financing
Yelp Inc. shares fell in the extended session Thursday after the business-review website’s outlook paled in comparison to Wall Street expectations. Yelp shares fell 8.2% to $38.07 after hours. The company forecast first-quarter revenue between $195 million and $199 million, and full year revenue of $880 million to $900 million. Analysts surveyed by FactSet estimate revenue of $204.4 million for the first quarter, and $895.3 million for the year. For the fourth quarter, Yelp reported adjusted earnings of 27 cents a share on revenue of $194.8 million. Analysts estimated 22 cents a share on revenue of $194.4 million.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
Pandora Media Inc. reported better-than-expected financial performance in the fourth quarter Thursday, but shares slipped on a disappointing forecast. The internet-radio company revealed a net loss of $19.4 million, or 38 cents a share, on revenue of $392.6 million. After adjustments for stock-based compensation and other effects, the company claimed a loss of 13 cents a share. Analysts on average expected Pandora to report an adjusted loss of 21 cents a share on sales of $374 million, according to FactSet. Last month, Pandora revealed that it would lay off employees despite raking in higher revenue that it originally expected for the quarter. Pandora’s forecast for the first quarter was well below analyst estimates, however. Pandora predicted revenue of $10 million to $320 million, while analysts on average were expecting revenue of $342 million, according to FactSet. Pandora predicted full-year 2017 revenue of $1.55 billion to $1.7 billion, while analysts expected $1.66 billion. Pandora shares dove more than 5% in after-hours trading after the results were released, but losses calmed down and settled closer to 2% later in the afternoon.
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From:: Stock Market News
White House press secretary Sean Spicer said Thursday that the Trump administration would release a comprehensive tax plan in the next few weeks, covering both individual and corporate taxes. Earlier Thursday, President Donald Trump said there would be a “phenomenal” announcement in two to three weeks.
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From:: Stock Market News
The Mexican peso strengthened against the U.S. dollar on Thursday after the country’s central bank raised its benchmark interest rate by half a percentage point. Banxico, as the central bank is widely known, has now raised interest rates by half a percentage point three times since U.S. President Donald Trump’s victory in the Nov. 8 election. The dollar fell 0.8% to 20.34 pesos after the decision, compared with 20.50 pesos late Wednesday in New York. The peso, which fell to record lows in the wake of Trump’s election, has recovered in the months since as investors adopted a wait-and-see approach regarding Trump’s trade policies. Trump has embraced unabashedly protectionist rhetoric, warning that he’d like to renegotiate the North American Free Trade Agreement between the U.S., Mexico and Canada, or possibly scrap it all together. He has also threatened to impose steep tariffs on Mexican imports. These moves could damage the Mexican economy because the U.S. is its largest trading partner. The rate hike was widely anticipated by economists.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News