Foreclosures | Mortgages | Financing
Despite some disagreement in the industry, the recently announced redesigned Uniform Residential Loan Application, the standardized form used by borrowers to apply for a mortgage loan should be a strong benefit to the industry. Although the industry is divided on the positive impact of the redesigned form, this new reports explains why it is, in fact, a good thing. …read more
From:: Real Estate Wire
William Lacy, who served as chief executive officer of Mortgage Guaranty Insurance Corporation for 12 years, passed away Sunday at the age of 71, the company announced Monday. According to MGIC, Lacy, who retired as chairman and CEO in 1999 after spending 28 years with the company, died of respiratory failure. …read more
From:: Real Estate Wire
New business was virtually unchanged at the Federal National Mortgage Association, while delinquency fell to a new eight-year low.
The Washington-based company’s total book of business concluded July at $3.1032 trillion, according to its monthly summary.
Fannie Mae trimmed the balance from $3.1038 trillion one month previous and reduced it from $3.1067 trillion one year previous.
From:: Financing
CNBC’s “Mad Money” with Jim Cramer put Ellie Mae in the spotlight in a recent episode to help show viewers what exactly they would be investing in. While the mortgage software provider company is performing well in the stock market, not everyone knows what the company does. CEO Jonathan Corr set out to fix this. …read more
From:: Real Estate Wire
One of the largest owners of single-family rental homes is getting out of the non-performing loan business, as Colony Starwood Homes announced Monday that it is selling off a massive portfolio of non-performing loans, basically closing the book on its NPL business. …read more
From:: Real Estate Wire
Topics to be covered at upcoming mortgage-related events include credit union issues, asset-backed securities and politics. One of the events will focus on mortgage loan originators.
National Mortgage Insurance Corp. and ISGN Corp. are co-hosting the Chicago Mortgage Leadership Roundtable on Sept. 15 at the Pinstripes Oak Brook in Oak Brook, Illinois.
According to a news release this month, the roundtable — the fifth in a series — is a gathering of prominent housing industry experts who will discuss the direction of the mortgage industry.
From:: Financing
Nordstrom Inc. said Monday that it will begin selling an edited assortment of J. Crew merchandise at Nordstrom full-line stores and online starting Sept. 12. Items will include women’s apparel and accessories, with petites available online only. Among the 16 Nordstrom locations selling J. Crew items are Downtown Seattle, Michigan Avenue in Chicago, NorthPark Center in Dallas, and The Mall at Short Hills in New Jersey. Nordstrom has had a partnership with J. Crew’s Madewell brand since 2015, with merchandise now available in 76 locations and online. Nordstrom shares are inactive in Monday after-hours trading, but down 28.5% for the past year. The S&P 500 Index is up 9.6% for the last 12 months.
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From:: Stock Market News
United Continental Holdings Inc. said Monday that it has named Scott Kirby president, a new position with the company, effective immediately. Kirby will be responsible for operations, marketing, sales, alliances, network planning, and revenue managment. Kirby was most recently president at American Airlines Group Inc. , a title he held since American Airlines merged with U.S. Airways in 2013. American Airlines said Monday that Chief Operating Officer Robert Isom has been named president, effective immediately, succeeding Kirby. He has been COO at American Airlines since 2013. United Continental shares are up 1.1% in after-hours trading, but down 18.1% for the year so far. American Airlines shares are down 0.2% in after-hours Monday trading, and down 14.6% for the year to date. The S&P 500 Index is up 6.7% for the year so far.
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
Austin, Texas-based National Instruments Corp. said late Monday its board of directors has appointed Alex Davern the company’s chief executive and president, effective Jan. 1. Davern will succeed James Truchard, who has been National Instruments’ CEO since co-founding the company 40 years ago. Truchard remains chairman of the board, the company said in a statement. Davern served as the company’s chief operational officer since 2010 and as chief financial officer since 1997. National Instruments, a maker of test equipment, and software and hardware used in tests, will conduct a search for a new CFO and expects to have one in place by the end of the year. National Instruments shares were halted in late trading Monday after ending the regular session up 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
Mondelez International Inc. announced Monday that it is no longer negotiating with The Hershey Co. on a potential acquisition, sending Hershey shares plunging. Hershey shares soared to record highs in June after The Wall Street Journal reported that Mondelez offered $107 a share for the candy company. Hershey rejected that $23 billion bid, and Mondelez said further talks were unsuccessful. “Following additional discussions, and taking into account recent shareholder developments at Hershey, we determined that there is no actionable path forward toward an agreement,” Mondelez Chief Executive Irene Rosenfeld said in a news release Monday afternoon. Hershey shares plunged more than 10% in late trading, falling below $100 a share after closing at $111.67, while Mondelez shares held steady.
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