Foreclosures | Mortgages | Financing
Portfolio managers and investors also have a vested interest in the expansion of the non-QM market. They have an appetite for non-QM assets as they represent an attractive yield opportunity. That’s why we’re seeing more “hold” strategies at work with current non-QM production. …read more
From:: Real Estate Wire
President Donald Trump on Tuesday nominated Judge Neil Gorsuch to fill the vacancy on the Supreme Court that has been empty since Justice Antonin Scalia’s death almost a year ago. Gorsuch, 49, who sits on Denver’s 10th Circuit Court, is a conservative said to be of the same ideological mold as Scalia, though with a more amiable temperament. The decision was announced during a prime-time event some compared to a reality show, with the final decision coming down between Gorsuch and Judge Thomas Hardiman of Pittsburgh’s 3rd Circuit. Gorsuch is likely to face stiff Democratic opposition in his Senate confirmation; some Democrats have already said they would flatly oppose whoever Trump picked.
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
President Donald Trump recently signed a presidential memoranda and executive order that significantly impact the future of regulations across all industries. But for housing specifically, there’s a major catch. The two new actions do not apply to independent agencies, which include the Consumer Financial protection Bureau. Here’s an explanation behind the confusion. …read more
From:: Real Estate Wire
A minuscule monthly decline in the Cost of Funds Index during the final month of last year left it at the second-lowest level on record.
During the month of December, COFI worked out to 0.599 percent — the second-lowest level on record based on data back to 1981.
COFI, which is utilized as an index for some legacy adjustable-rate mortgages, eased ever so slightly from 0.603 percent in November.
From:: Financing
Policy updates and clarifications made by the Federal National Mortgage Association will make appraisal reports easier to complete.
Appraisers are currently required by Fannie Mae to use at least one comparable sale from the same subdivision as the subject property.
The Washington-based firm also requires a second comparable sale from another subdivision, while the third can be inside or outside.
From:: Financing
Paul Singer’s Elliott Management is moving aggressively to press Arconic Inc. to adopt changes, including replacing the current chief executive, to boost its share price to at least $33 to $54. As part of this effort, Elliott hired Larry Lawson, former chief executive of Spirit AeroSystems Inc., as a consultant and a candidate to take over from current CEO Klaus Kleinfeld. Elliott, which owns a 10.5% stake in Arconic, named five nominees for the company’s board. Elliott is calling on Arconic, which recently separated from Alcoa, to reallocate funds to growth-oriented projects and increase shareholder value. Arconic shares extended gains in the extended session to $23.11 after closing at $22.79.
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
A survey conducted by The Conference Board by Nielsen shows that Americans are less confident in the economy in January. However, other measures of consumer confidence disagree with that notion. Americans are more confident in their present situation, but less optimistic about the future. …read more
From:: Real Estate Wire
Overstock.com Inc. shares jumped in the extended session Tuesday after the online retailer swung to a surprise profit for the fourth quarter. Overstock shares rallied 14% to $18.90 after hours. The company reported earnings of 12 cents a share on revenue of $526.2 million. Analysts surveyed by FactSet had forecast a per-share loss of 4 cents on revenue of $523.5 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
Shares of Match Group Inc. fell more than 6% late Tuesday after the parent of Tinder and other online dating sites reported quarterly sales slightly below Wall Street expectations. Match said it earned $74 million, or 27 cents a share, in the fourth quarter, compared with $36 million, or 16 cents a share, in the year-ago period. Adjusted for one-time items, Match Group earned 29 cents a share, compared with 24 cents a share a year ago. Revenue reached $320 million in the quarter, up 19% from $268 million a year ago. Analysts polled by FactSet had expected the company to report adjusted earnings of 24 cents a share on sales of $321 million. Tinder more than doubled the number of its paid members in 2016, and on average the group’s paid member count rose 23%, Match said in a statement. In the same statement, the Dallas, Texas, company said it has agreed to sell The Princeton Review and other non-dating business to education technology company ST Unitas. The deal is expected to close in the first half of the year and terms were not disclosed. Shares had ended the regular trading session down 0.5%.
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 Apple Inc. climbed 2% in after-hours trade Tuesday following the company’s stronger-than-expected earnings report, buoyed by iPhone and services revenue. The company reported net income of $17.9 billion, or $3.38 a share, compared with $18.4 billion, or $3.30 a share, in the year-earlier period. Revenue for the period increased to $78.35 billion compared with $75.9 billion last year, topping the Wall Street consensus estimate of $77.3 billion. The company sold 78.3 million iPhone units during the quarter, topping analysts’ expectations of 77 million. Services revenue increased to $7.17 billion, up from $6.01 billion last year and topping the $6.9 billion FactSet estimate. Shares of Apple have increased 7% in the past three months and 25% in the past year. The Dow Jones Industrial Average , by comparison, has increased 9.5% in the past three months and 21% in the past 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