Foreclosures | Mortgages | Financing
After roughly a year to get finalized, SoFi officially received its license to lend in New York, which is one of the most difficult states to acquire a license in, Michael Tannenbaum, SoFi’s chief revenue officer, said in an interview. And now with New York under it’s belt, Tannenbaum touches on a strong mortgage future ahead for SoFi. …read more
From:: Real Estate Wire
Hewlett Packard Enterprise Co. said late Tuesday Chief Operating Officer and Executive VP Chris Hsu will resign from the company to become the chief executive officer of the previously announced, proposed spin-off and merger of its software business with Micro Focus International PLC. That deal is expected to go through by Aug. 31, the company said in a filing. Shares of HPE were flat after hours after ending the regular trading day down 1.1%. HPE said earlier Tuesday it had agreed to buy SimpliVity for $650 million in cash.
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From:: Stock Market News
Late last year, Deutsche Bank announced that it reached a $7.2 billion settlement with the Department of Justice in connection with the bank’s issuance and underwriting of residential mortgage-backed securities between 2005 and 2007. Although the bank made the announcement in late December, the settlement was not official, but it is now. …read more
From:: Real Estate Wire
RE/MAX’s annual report showed the Chicago area saw its highest level of home sales since 2006. However, despite the increase, the city continues to struggle with low levels of housing inventory. …read more
From:: Real Estate Wire
United Continental Holdings Inc. shares slid in the extended session Tuesday even as the airline topped Wall Street estimates for the quarter. United shares declined 1.8% to $72.49 after hours, after closing down 0.8% in the regular session. The company reported adjusted fourth-quarter earnings of $1.78 a share on revenue of $9.05 billion. Analysts surveyed by FactSet had estimated $1.73 a share on revenue of $9.04 billion.
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From:: Stock Market News
Shares of Gigamon Inc. sank in Tuesday’s extended session after the networking-hardware company warned that its fourth-quarter results are likely to fall short of its targets. Gigamon projected adjusted earnings per share of 35 cents to 37 cents versus its outlook of 36 cents to 38 cents. Revenue is expected in a range of $84.5 million to $85 million compared with its guidance of $91 million to $93 million. “We are disappointed our fourth quarter revenue was below our prior guidance, but we are pleased with our overall financial performance in 2016,” Paul Hooper, chief executive of Gigamon, said in a statement. Gigamon shares skidded 22% after hours. Gigamon is scheduled to announce its quarterly earnings on Feb. 2.
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From:: Stock Market News
President Barack Obama has commuted the sentence of Chelsea Manning, the Army intelligence analyst who leaked troves of files to WikiLeaks. Manning’s sentence will be commuted to expire on May 17. The decision wasn’t a total surprise, as a White House spokesman had contrasted Manning’s situation with Edward Snowden, noting that Manning already has gone through the U.S. legal system and acknowledged her crimes. In all, Obama granted commutation of sentence to 209 individuals and pardons to 64 individuals.
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From:: Stock Market News
Shares of Qualcomm Inc. closed down 4% Tuesday as the Federal Trade Commission filed a complaint against the chipmaker for tactics to maintain a monopoly on chips used in cell phones and other consumer products. Qualcomm shares finished the day down at $64.19, and were up 0.3% in after-hours activity. In a statement, the FTC alleged Qualcomm “has used its dominant position as a supplier of certain baseband processors to impose onerous and anticompetitive supply and licensing terms on cell phone manufacturers and to weaken competitors.”
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From:: Stock Market News
Hewlett Packard Enterprise Co. announced Tuesday it has agreed to acquire SimpliVity for $650 million in cash, giving it a stronger offering in the growing market for tech infrastructure that combines data-storage and computing. SimpliVity is one of the leaders in hyperconvergence, recently listed by Forrester Research one of the top companies in the field along with Nutanix Inc. , which went public last year and is currently worth more than $4 billion on the open market. “More and more customers are looking for solutions that bring them secure, highly resilient, on-premises infrastructure at cloud economics,” HPE Chief Executive Meg Whitman said in a statement. “That’s exactly where we’re focused.” HPE said the move would add to earnings in the first full fiscal year after it closes, which the company expects in the second quarter of its current fiscal year, which began Nov. 1. HPE shares were quiet in late trading following the announcement, but Nutanix shares fell 0.7%.
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From:: Stock Market News
WASHINGTON (MarketWatch) — The Department of Justice on Tuesday finalized its settlement with Deutsche Bank , with the bank paying $3.1 billion and providing $4.1 billion in relief to underwater homeowners, distressed borrowers and affected communities over allegations the German institution misled investors in the packaging, securitization, marketing, sale and issuance of residential mortgage-backed securities between 2006 and 2007. The settlement was along the same financial terms as Deutsche Bank had previously announced. Deutsche Bank admits making false representations and omitting material information from disclosures to investors about the loans included in RMBS securities, the DOJ said.
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From:: Stock Market News