Foreclosures | Mortgages | Financing
Financial markets are still processing the effects that President-elect Donald Trump will have when he officially takes office in January. In the aftermath of Trump’s victory last Tuesday, the stock market rose sharply, reaching record highs late last week. But the stock market isn’t the only thing that’s on the rise since Trump won; mortgage interest rates are skyrocketing as well. …read more
From:: Real Estate Wire
Natural-gas futures jumped 5% Monday, with the front-month contract settling at its highest level in a week as traders bet that the winter season will soon boost demand and help draw down the record level of U.S. inventories. Oil futures, meanwhile, pared some of their earlier losses, but still finished at their lowest level since mid-September amid continued doubts over an output deal among major producers. December natural gas rose 13 cents, or 5%, to settle at $2.749 per million British thermal units. December crude lost 9 cents, 0.2%, to settle at $43.32 a barrel.
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
Prominent news broadcaster Gwen Ifill has died after a battle with cancer, according to multiple reports. She was 61. The co-host of “PBS Newshour” died at a hospice center near Washington. D.C., according to the Washington Post. Paula Kerger, president and CEO of PBS, said Ifill was “a fundamental reason public media is considered a trusted window on the world.”
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
Oil production from seven major U.S. shale plays is forecast to decline by 20,000 barrels a day to 4.498 million barrels a day in December from November, according to a monthly report from the Energy Information Administration released Monday. Oil output at the Eagle Ford shale play in South Texas is expected to see oil output fall by 33,000 barrels a day. However, output from the Permian Basin, which covers parts of western Texas and southeastern New Mexico, is expected to climb by 27,000 barrels a day. Just ahead of the day’s settlement, December West Texas Intermediate oil traded at $43.53 a barrel, up 12 cents, or 0.3%, on the New York Mercantile Exchange.
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
Enterprise Community Partners appointed David Outcalt to its New York Advisory Board to help fight the city’s housing affordability crisis. The company’s co-chairs talk about what Outcalt brings to the company, and how he will help ensure affordable housing for New Yorkers. …read more
From:: Real Estate Wire
Gold futures settled Monday at their lowest level since early June, pressured by the U.S. dollar index’s climb to its highest level in about a year. Prices for the yellow metal, however, pared much of their earlier losses, with prices finding some support after falling over the previous five sessions in a row and suffering from their largest weekly decline in over three years. December gold fell $2.60, or 0.2%, to settle at $1,221.70 an ounce.
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
An offering of mortgage servicing rights is being made on more than $1.8 billion in Ginnie Mae loans. The pool has a concentration of loans in the Golden State.
The proposed transaction includes MSRs on 7,237 GNMA II residential loans that had a collective outstanding principal balance of $1.819 billion as of Nov. 9.
Just over a third of the loans included in the offering are secured by properties located in California. All other states have less than a 10 percent market share.
From:: Financing
General Electric Co.’s GE Digital unit announced Monday a deal to buy cloud-based field service management company ServiceMax for $915 million, as it expands its industrial-internet capabilities. “Improved productivity is critical for the Industrial Internet and digitizing field services is a cornerstone of a successful digital industrial strategy,” said GE Digital Chief Executive Bull Ruh. The deal is expected to close in January. GE’s stock, which slipped 0.6% in afternoon trade, has lost 2% year to date, while the Dow Jones Industrial Average has gained 8.2%.
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
Turkish lira has plunged to record lows against the dollar on Monday, along with other emerging-market currencies as hopes for massive fiscal stimulus pushed the U.S. dollar to 12-month high. On Monday, the dollar was trading at TRY3.2924, up 1.2%. The iShares MSCI Turkey ETF has also been sold heavily after the election of Donald Trump as U.S. president last week. The ETF fell 2.4% on Monday and lost 8.2% since Nov 8.
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
There appears to be more people in the U.S. who live with a pet than ever before. The U.S. Department of Housing and Urban Development (HUD) is carefully looking into this topic as it pertains to renters. In fact, HUD has already published an 8 page guide titled Resident Rights that every property manager should become familiar with. You’ll be hard pressed to find any mention about the right to have pets. On page 7 is a list of resource phone numbers for a number of services and ways to verify information on the rights and responsibilities of residents from a federal government perspective. Check it out too!
The latest challenge between Property Managers and residents regarding pets involve the categories of “service,” “companion” and “therapy” animals. Service, companion or emotional support animals fall within the definition of assistance animals under the Housing and Urban Development’s guidelines. Like it or not these guidelines are also adopted in many states in defining the rights of tenants and residents. The legalities and the responsibility to make “reasonable accommodation” are daunting.
The Americans with Disabilities Act (ADA) and the Department of Justice narrowed the definition of a service animal as “… as any dog that is individually trained to do work or perform tasks for the benefit of an individual with a disability, including a physical, sensory, psychiatric, intellectual, or other mental disability.”
However, a housing provider [landlord] “… may not ask a tenant or applicant to provide documentation showing the disability or disability-related need for an assistance animal if the disability or disability-related need is readily apparent or already known to the provider.”
In some situations a “housing provider” may ask for verification, but any questions should be limited to a relevant connection between the resident’s disability and the disability-related need for the animal. Some residential rental complexes that allow pets have received legal advice to create a separate set of rules for assistance animals, since they will probably have more access to common areas than other pets.
Make sure you clearly communicate to assistance animal owners that if they allow animals to roam off-leash, don’t pick up their animals’ droppings, or allow their pet to be aggressive or a chronic barker that these are consequential violations. It may also be necessary to give a fair warning ahead of time.
Inform the owner if the animal’s behavior doesn’t improve after the warning it will have to be removed, but make sure that your state and local laws allow this type of remedial action. You may need legal advice. My research indicates that even if you have the right to insist that the animal be removed, a replacement animal may need to be allowed. It makes sense to insist that the animal not be allowed outside without a leash or that it be a dog that doesn’t bark continually.
The bottom line is to know the laws, make your resident policies explicit, and know the rights of your owners as well as your own as a property manager.
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From:: Property Management