Foreclosures | Mortgages | Financing
Servicers have an opportunity to pick up mortgages servicing rights on over $3 billion in recently originated government-sponsored enterprise loans.
MSRs are being offered for sale on 14,987 loans backed by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corp.
The first-lien residential loans collectively have an unpaid outstanding principal balance of $3.263 billion. Almost all of the mortgages are fixed rate.
From:: Financing
What happens over the next few days will go a long way in determining how Wells Fargo, and the banking industry as a whole, will weather the storm currently swirling around the megabank from the “widespread unlawful” practices of more than 5,000 former employees who opened more than 2 million fake accounts in order to get sales bonuses. …read more
From:: Real Estate Wire
By Beth McGuire
From left, Michael Mahon, Paul Wells, Helen Hanna Casey and Todd Hetherington participate on a panel on “Achieving Agent Buy-In,” moderated by Joe Rand last week at RISMedia’s CEO Exchange in New York.
Michael Mahon has left his post as president and broker of record at Ohio’s HER Realtors® to take on the role of president at Southern California’s leading independent firm First Team Real Estate.
With more than 26 years of comprehensive real estate experience—spanning the residential and commercial sectors to include real estate brokerage services, retail property management, auditing, financial management, mortgage, and escrow services—Mahon is a seasoned industry expert and experienced leader. During RISMedia’s Real Estate CEO Exchange at the Harvard Club New York last week, Mahon shared his expertise during the panel session, “Achieving Agent Buy-in: Communication Strategies for Uniting Your Sales Force.”
“Michael brings an impressive list of accomplishments to his role as president of First Team Real Estate, in addition to a number of unique characteristics that render him particularly well suited to lead the organization,” states Cameron Merage, First Team’s CEO and founder. “He’s an expert when it comes to cultural development, empowering everyone with whom he works to grow, achieve, and thrive as professionals. Equally, his experience and sphere of influence across the real estate industry shall enable our further vision of growth for the First Team Organization throughout the entire state of California.”
Most recently, Mahon served as president and broker of record at HER Realtors® in Ohio. Over the course of his seven-year tenure at the independent brokerage, which encompasses 59 offices and employs more than 1,000 sales associates, he drove growth and revenue by focusing on agent education and coaching in addition to technology.
“I am a firm believer that any real estate organization’s success is dependent upon its willingness to invest in its people,” says Mahon. “By ensuring that the agents at First Team enjoy an unprecedented level of support in their professional endeavors, along with furthering the company’s forward-thinking approach to technology, the First Team Organization will grow to even greater boundaries of success in supporting agents, consumers, and communities across California.”
For more information, visit www.firstteam.com.
From:: Finance and Economy
By Beth McGuire
From left, Michael Mahon, Paul Wells, Helen Hanna Casey and Todd Hetherington participate on a panel on “Achieving Agent Buy-In,” moderated by Joe Rand last week at RISMedia’s CEO Exchange in New York.
Michael Mahon has left his post as president and broker of record at Ohio’s HER Realtors® to take on the role of president at Southern California’s leading independent firm First Team Real Estate.
With more than 26 years of comprehensive real estate experience—spanning the residential and commercial sectors to include real estate brokerage services, retail property management, auditing, financial management, mortgage, and escrow services—Mahon is a seasoned industry expert and experienced leader. During RISMedia’s Real Estate CEO Exchange at the Harvard Club New York last week, Mahon shared his expertise during the panel session, “Achieving Agent Buy-in: Communication Strategies for Uniting Your Sales Force.”
“Michael brings an impressive list of accomplishments to his role as president of First Team Real Estate, in addition to a number of unique characteristics that render him particularly well suited to lead the organization,” states Cameron Merage, First Team’s CEO and founder. “He’s an expert when it comes to cultural development, empowering everyone with whom he works to grow, achieve, and thrive as professionals. Equally, his experience and sphere of influence across the real estate industry shall enable our further vision of growth for the First Team Organization throughout the entire state of California.”
Most recently, Mahon served as president and broker of record at HER Realtors® in Ohio. Over the course of his seven-year tenure at the independent brokerage, which encompasses 59 offices and employs more than 1,000 sales associates, he drove growth and revenue by focusing on agent education and coaching in addition to technology.
“I am a firm believer that any real estate organization’s success is dependent upon its willingness to invest in its people,” says Mahon. “By ensuring that the agents at First Team enjoy an unprecedented level of support in their professional endeavors, along with furthering the company’s forward-thinking approach to technology, the First Team Organization will grow to even greater boundaries of success in supporting agents, consumers, and communities across California.”
For more information, visit www.firstteam.com.
From:: Real Estate News
Appraisal volume managed to stay afloat during the Labor Day holiday, which typically impacts volume due to the shortened week. Now looking at the latest report from a la mode, it more than bounced back the week after. …read more
From:: Real Estate Wire
News of a housing inventory shortage continues to proliferate as the market works in overdrive to try and construct enough houses to meet the high demand. The dearth of houses available is holding back buyers in many of the largest cities in the country, particularly in these 10, which have the biggest hurdles to overcome. …read more
From:: Real Estate Wire
Unilever Plc said Monday it has agreed to acquire Seventh Generation Inc. for an undisclosed sum. Seventh Generation makes sustainable cleaning products, including plant-based detergent. The company had sales of $200 million in 2015 and has enjoyed double-digit compounded annual growth in the last 10 years, according to a statement. Last week, The Wall Street Journal reported that Unilever was in talks to acquire Honest Co., the retailer co-founded by actress Jessica Alba, that also makes green care products, such as diapers and detergents. Unilever shares were trading up 1.2%, and are up 8% in the year so far, while the S&P 500 has gained about 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
America’s home builders are more confident about their business than they’ve been in almost a year, and the spike was greatest in the West.
As of September, the seasonally adjusted Housing Market Index was 65 — the highest it’s been since October 2015’s upwardly revised 65.
The index, a gauge of how builders perceive current and upcoming new single-family home sales, was a downwardly revised 59 in August 2016.
From:: Financing
In its new consumer satisfaction survey, U.S. Bancorp found that Millennials struggling with debt are worried about their ability to save up for a home. Ironically, income was not the key factor in determining overall satisfaction scores, proving that it’s not how much money you have, but how you manage it that matters. …read more
From:: Real Estate Wire
Nutanix Inc. disclosed Monday initial terms for its initial public offering, in which the business cloud services company could raise as much as $209.3 million. A regulatory filing said the unicorn company–private startups valued at over $1 billion–is offering 14 million shares, or up to 16.1 million if the underwrites exercise all options to buy additional shares, at a per-share price between $11 to $13. With a possible 138.5 million shares outstanding if all options are exercised, an IPO pricing at the midpoint of the range would value the company at about $1.76 billion, less than the $2 billion valuation implied by the last funding round in August 2014, according to the Wall Street Journal.
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