Foreclosures | Mortgages | Financing
In its last few days, the Obama administration announced multi-billion dollar settlements with two foreign banks, Deutsche Bank and Credit Suisse, for each bank’s mortgage securitization practices leading up to the housing crisis. And on Friday, as most people focused on the inauguration of Donald Trump, the Obama administration announced one last settlement with a foreign bank for its pre-crisis activities – France’s Societe Generale. …read more
From:: Real Estate Wire
U.S. stocks retreated on Monday as uncertainty mounted over how President Donald Trump plans to implement his pro-growth policies. The S&P 500 fell 5 points, or 0.3%, to close at 2,265 and the Dow Jones Industrial Average shed 26 points, or 0.1%, to end at 19,800. The Nasdaq Composite Index edged down 2 points to close at 5,552. “We expect tax issues to be at the forefront of Washington’s agenda, but President Trump’s comments last week show that he and Congress may not be on the same page,” Bob Doll, chief equity strategist at Nuveen Asset Management LLC, said in a note. As a result, investors may find themselves disappointed by the pace and the outcome of tax reforms, he said.
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
About 10 years ago, convicted killer Kosoul Chanthakoummane brutally murdered a real estate agent in her model home. Now, after a decade on death row, his death is only days away. Though not as brutal as the 33 stab wounds he inflicted on the real estate agent, Chanthakoummane will face the end by lethal injection. …read more
From:: Real Estate Wire
The Consumer Financial Protection Bureau hit CitiFinancial Servicing and CitiMortgage with enforcement actions over how both companies handled borrower foreclosures. Since both banks violated the Real Estate Settlement Procedures Act, they must pay a total fine of $28.8 million. …read more
From:: Real Estate Wire
Dog-friendly properties are a top requested perk from apartment seekers when it comes to choosing a new place to live. Care.com recently put together a list of the top cities for walking your dog based of a “walkability” score; Property Managers should think about their current dog policy and how allowing the four-legged friends can attract more renters, especially if they live in one of these top cities.
Read more on Multifamily Executive.
From:: Property Management
Shares of Qualcomm Inc. plunged 11% in very active trade Monday, putting on track to suffer the 2nd-biggest decline in the last seven years, in the wake of Apple Inc.’s lawsuit alleging the leveraging of its monopolistic position. Volume spiked to about 69 million shares, or nearly 9-times the full-day average, to make the stock the most actively traded on major U.S. exchanges. The percentage decline was the biggest since it plummeted 15% on Nov. 5, 2015, and the 14% tumble on Jan. 28, 2010. Analyst Romit Shah at Instinet downgraded the mobile chip maker to neutral from buy and cut his stock price target to $70 from $80, saying recent rulings and lawsuits have been stronger and broader than expected. Shah fears that these investigations into Qualcomm’s licensing practices could delay regulatory approval of the NXP Semiconductors N.V. acquisition, which Shah expects to be a boon for Qualcomm. The shares have gained 16% over the past 12 months, while the SPDR Technology Select Sector ETF has run up 23% and the S&P 500 has climbed 19%. Apple’s stock has advanced 18% over 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
President Donald Trump signed an executive order Monday stopping U.S. involvement with the Trans-Pacific Partnership, a 12-nation trade deal that was a priority of former President Barack Obama. The U.S. was not a member since Congress never ratified it. But Trump pledged during the campaign that the U.S. would not participate in the pact.
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
Aetna Inc. shares dropped 2.4% and Humana Inc. shares dropped 2.0% in heavy volume during midday trade Monday after The Wall Street Journal and Reuters reported that a federal judge had blocked their merger on antitrust grounds. The federal judge’s Monday decision said the DOJ had successfully argued that the deal could hurt consumers with Medicare Advantage plans, according to the WSJ. The ruling deals a “potentially fatal legal blow” to the deal, the WSJ said. After the Department of Justice sued to block the $34 billion merger last summer, the two health insurers said they would “vigorously” defend the deal and that “the facts do not support the basis for DOJ action.” The New York Post reported last week that a federal judge is expected to block another merger between two other large health insurers, Anthem Inc. and Cigna Corp. , and a decision is expected shortly. Aetna shares have risen 8.3% over the last three months, and Humana shares have risen 12.6%, compared with a 5.5% rise in the S&P 500 .
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
Foreclosure rates dropped and even hit milestone lows in 2016. A new report from Black Knight shows that 2016 saw the greatest drop of any year on record. Even states with the highest percentage of foreclosures saw significant drops from last year. …read more
From:: Real Estate Wire
Although there was a quarter-over-quarter decline in lending volume at Primary Residential Mortgage Inc., employee count and servicing expanded.
The Salt Lake City-based business serviced 13,307 residential loans with an aggregate unpaid principal balance of $2.444 billion as of year-end 2016.
PRMI reported the metrics, along with other operational data, as part of the Mortgage Daily Fourth Quarter 2016 Mortgage Origination Survey.
From:: Financing