Foreclosures | Mortgages | Financing
New quarterly business surged ahead, the book of business was bigger and defaults declined at mortgage insurer Radian Group Inc.
In the three months ended June 30, the Philadelphia-based firm generated $157 million in pre-tax income from continuing operations.
While that was better than the $102 million earned three months earlier, it fell far short of the $250 million earned one year previous.
From:: Financing
Ocwen Financial revealed Wednesday that it is attempting to rid itself of the business restrictions placed upon it by the California Department of Business Oversight, but a Thursday filing with the Securities and Exchange Commission details just how those negotiations are going and why Ocwen is trying to buy its way out of the settlement. …read more
From:: Real Estate Wire
Ocwen Financial revealed Wednesday that it is attempting to rid itself of the business restrictions placed upon it by the California Department of Business Oversight, but a Thursday filing with the Securities and Exchange Commission details just how those negotiations are going and why Ocwen is trying to buy its way out of the settlement. …read more
From:: Real Estate Wire
First Guaranty hired Joaquin Torre as its new senior director. Company chief revenue officer talks about why Torre makes an exceptional addition to the capital markets team. …read more
From:: Real Estate Wire
It’s no secret to any property manager that when job growth is on the upward trend, rent growth will shortly follow. However, a recently published Axiometrics article drew a parallel between falling rent and job rates to an increase in college enrollment. “Why does enrollment increase when job growth declines? The simple answer is to get a (better) job. When there is a lack of jobs, young people tend to head to (or stay in) college to get more skills to better fit the labor market’s needs.”
on Axiometrics.com.
From:: Property Management
BB&T Co.’s Capital Markets division said Thursday that, due its decision to exit the equity research business, the bank is ending coverage of all its covered companies. BB&T Capital Markets had more than 300 companies under coverage. “Our prior ratings and estimates should no longer be relied upon,” the bank said in a note. A company spokesperson was not immediately available for comment. BB&T shares are nearly flat in Thursday trading, and down 8.6% for the past year. The S&P 500 Index is up 3.3% for the last 12 months.
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
Although homeownership rates hit their lowest rate since 1965, some experts say that the change reflects more trends in the rental market than in housing. Others, while concurring that the data shows a lot about rental trends in the market, disagree about the gravity of the decreasing homeownership rate. …read more
From:: Real Estate Wire
After falling to a four-year low, quarterly mortgage originations bounced higher at Ocwen Financial Corp. Servicing and staffing both saw a decline.
The West Palm Beach, Florida-based financial services firm reported a $96 million loss before taxes during the period from April 1 through June 30.
Losses at Ocwen dipped from $102 million in the first quarter but worsened compared to the second-quarter 2015 — swinging from a $13 million profit.
From:: Financing
Natural-gas futures gained more ground on Thursday after the U.S. Energy Information Administration reported that supplies of the commodity rose 17 billion cubic feet for the week ended July 22. That was below the average rise of 27 billion cubic feet expected by analysts polled by S&P Global Platts. Total stocks now stand at 3.294 trillion cubic feet, up 436 billion cubic feet from a year ago and 524 billion cubic feet above the five-year average, the government said. September natural gas rose 13.3 cents, or 5%, at $2.793 per million British thermal units from Wednesday’s settlement. It traded at $2.73 before the data.
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
Radian’s second quarter earnings showed an increase in new mortgage insurance written, as well as a tightening credit box as more of its primary mortgage insurance risk consisted of loans with a FICO score of at least 740. …read more
From:: Real Estate Wire