Foreclosures | Mortgages | Financing
A new report from RealtyTrac shows that more homeowners are keeping their homes out of foreclosure than ever before. According to RealtyTrac’s report, the number of homes that started the foreclosure process during the first half of 2016 was the lowest for any half-year period since the company began tracking foreclosure starts in 2006. …read more
From:: Real Estate Wire
Three Democratic Senators are concerned about the impact of short-term home rental companies like AirBnb, HomeAway, VRBO, and Flipkey on communities’ housing markets and want the Federal Trade Commission to investigate. Here’s what Sens. Brian Schatz, Elizabeth Warren, and Diane Feinstein think of the short-term rental industry. …read more
From:: Real Estate Wire
NewDay USA has plans to add more than a hundred employees this year. The new recruits will work as loan originators, credit analysts and office staffers.
Headcount at NewDay USA already exceeds 500 employees. But the company has plans to employ more than a thousand people by the end of next year.
Growth will be accommodated at the Fulton, Maryland-based mortgage banking firm through an expansion of its headquarters, to around 135,000 square feet.
From:: Financing
Serious monthly delinquency on first mortgages, home-equity installment loans and home-secured credit lines has been improving.
As of May 31, there were 49.9 million first mortgages that were outstanding for an aggregate principal balance of $8.3272 trillion.
The nation’s book of first mortgages was trimmed from 50.2 million loans outstanding for a total of $8.3736 trillion a month earlier.
From:: Financing
The J. M. Smucker Co. said late Wednesday its board of directors has approved a dividend increase to 75 cents a share from 67 cents a share. The dividend is payable Sept. 1 to shareholders of record Aug. 12. Shares of Smucker were flat in late trading 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
“Never in my life did I think I would type the words Pokémon Go into a police report.” –Wyoming Police. And yet, that’s just what’s happening. …read more
From:: Real Estate Wire
The quarterly origination of first mortgages, home-equity loans and home-equity lines of credit has ascended to multi-year highs.
From Jan. 1 through March 31 of this year, there were 1.86 million first mortgages originated for a total amount of $450.5 billion.
The dollar volume of first-mortgage production turned out to be the highest first-quarter total since the first-three months of 2013.
From:: Financing
Yum Brands Inc. shares gained in the extended session Wednesday after the fast-food chain operator topped Wall Street earnings estimates for the second quarter. Yum shares rose 4.6% to $89.46 after hours. The company reported adjusted earnings of 75 cents a share on revenue of $3.01 billion. Analysts surveyed by FactSet had forecast earnings of 74 cents a share on revenue of $3.09 billion. Due to strong first-half results from China, Yum CEO Greg Creed raised his full-year core operating profit growth forecast to at least 14% from a previous 12%.
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
Shares of Yelp Inc. closed down 4.4% at $29.04 on Wednesday after the stock was downgraded to underperform from market perform at Wells Fargo. Analyst Peter Stabler also lowered his valuation range on the stock, to between $21 and $23 from $22 to $24 previously. The downgrade reflects expectations that analysts are too optimistic regarding Yelp’s potential performance for 2017 and 2018. “The company will face challenges meeting its long-term margin targets,” said Stabler in a note to clients Wednesday. Shares of Yelp have risen 41.5% over the last three months, vastly outperforming the S&P 500, which is up 3.4%. However, they’ve underperformed significantly over the last year, down 18% versus a 2.5% gain for the index. Looking ahead, Stabler said he expects further challenges for Yelp related to international traffic and competition for local ads.
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
It would seem Americans didn’t learn from their mistakes during the housing crisis. In fact, they know less today than they did in 2009, as less of the population is able to pass even a simple financial literacy test. …read more
From:: Real Estate Wire