Foreclosures | Mortgages | Financing
The New England Patriots weren’t the only ones to win big in the Super Bowl, as four advertisers who took a bet on overtime ads scored a deal of a lifetime in the advertising world. And one of those lucky four advertisers is online lender SoFi. …read more
From:: Real Estate Wire
Flagstar Bancorp is about to grow its correspondent lending business, as the bank announced Monday that is plans to acquire Stearns Lending’s delegated correspondent lending business. Upon the completion of the deal, Flagstar will become the 4th largest correspondent loan originator in the country, the bank said. …read more
From:: Real Estate Wire
The co-sponsor behind the Dodd-Frank Wall Street Reform Act told CNBC in an interview on Monday that the controversial law doesn’t actually restrict lending. And he wasn’t the only one in the interview to think so. …read more
From:: Real Estate Wire
Deals have been negotiated, and some closed, to acquire residential lenders. In addition, capital investments have been made in some mortgage firms.
Assets from Cimarron Mortgage Capital were acquired on Oct. 21, 2016, by El Paso, Texas-based WestStar Bank, according to an announcement.
The residential construction and mortgage origination business, as well as its seven employees have become part of subsidiary WestStar Home Loans.
From:: Financing
President Donald Trump held to another one of his campaign promises last week, when he signed an executive order that is expected to begin the process of revamping (or replacing) the Dodd-Frank Wall Street Reform Act. The specific details of the Trump administration’s plan for financial reform were not contained in the executive order, but what should the Republican-led regulatory reform efforts focus on? …read more
From:: Real Estate Wire
Teva Pharmaceutical Industries Ltd. share slid in the extended session Monday after the Jerusalem-based drugmaker said Erez Vigodman would step down as chief executive effective immediately. Teva shares declined 1% to $34 after hours. The company said Yitzhak Peterburg, the company’s chairman since January 2015, will serve as interim CEO, ceding his role as active chairman in accordance with Israeli law, Teva said. Board member Sol Barer was elected to serve as chairman. Teva said it has started a search for a permanent CEO.
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From:: Stock Market News
Despite slowing loan production at Guild Mortgage Co., the company experienced growth in its servicing portfolio and its staffing.
The real estate lender serviced 155,129 residential loans with an aggregate principal balance $29.989 billion as of Dec. 31, 2016.
San Diego-based Guild disclosed the data as part of the Mortgage Daily Fourth Quarter 2016 Mortgage Origination Survey.
From:: Financing
WASHINGTON (MarketWatch) — FXCM has been banned from operating in the U.S. after the Commodity Futures Trading Commission found the retail currency broker had an undisclosed interest in the market maker that consistently “won” the largest share of FXCM’s trading volume – and thus was taking positions opposite its retail customers. The CFTC also found that FXCM willfully made false statements to the National Futures Association in order to conceal FXCM’s role in the creation of its principal market maker as well as the fact that the market maker’s owner had been an FXCM employee and managing director. FXCM also agreed to pay a $7 million fine and never seek to register with the CFTC, and the two founding partners, Dror Niv and William Ahdout, will withdraw from CFTC registration. FXCM, Niv and Ahdout didn’t admit or deny the findings.
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
Shares of Gap Inc. rose 2.7% late Monday after the retailer reported higher January and fourth-quarter sales, which included holiday sales. Net sales for January rose 2% to $828 million, compared with $813 million in January 2016. For the fourth quarter of fiscal 2016, Gap’s net sales rose 1% to $4.43 billion, compared with $4.39 billion for the year-ago period. Sales at Old Navy and Gap rose 2% and 3%, respectively, in January, while sales at Banana Republic fell 4%. Gap said it expects adjusted earnings between $2.01 a share and $2.02 a share for fiscal 2016. Shares of Gap ended the regular trading session up less than 0.1%.
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
Ellie Mae’s flagship product, Encompass, its mortgage management solution, just got another makeover. The new version improves workflow with the GSEs, along with extensive updates to support construction loans. …read more
From:: Real Estate Wire