Foreclosures | Mortgages | Financing
An agreement has been negotiated by the Federal Home Loan Mortgage Corp. to sell more than $40 million in non-performing mortgages.
Freddie Mac said that the sale involves 189 deeply deeply delinquent residential loans with an aggregate principal balance of $43.7 million.
Properties securing the mortgages are concentrated in Florida. Based on broker price opinions, the loan-to-value ratio is around 93 percent.
From:: Financing
Wall Street rose slightly to post a fourth consecutive gain Friday, buoyed by an upbeat reading on manufacturing activity. According to preliminary figures, the S&P 500 rose 4.09 points, or 0.2% to end at 2,102.95, while the Dow industrials advanced 19.38 points, or 0.1% to close at 17,949.37. The Nasdaq Composite settled with a gain of 19.89 points, or 0.4%, at 4,862.57. All three indexes saw weekly gains of more than 3%, taking back much of the decline seen in the immediate aftermath of last week’s U.K. vote to leave the European Union.
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From:: Stock Market News
Tiger Woods has bowed out of the British Open, which is set to start in about two weeks. Organizers of the tournament the Royal & Ancient Golf Club announced Friday that Woods will be replaced in the The Open field by Australian Marcus Fraser. The four-day tournament starts July 14. The 40-year, 14-time major champion, Woods, hasn’t played in a competitive golf tournament since Aug. 2015. due to nagging back injuries.
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
Tiger Woods has bowed out of the British Open, which is set to start in about two weeks. Organizers of the tournament at the Royal & Ancient Golf Club announced Friday that Woods would be replaced in the the Open field by Australian Marcus Fraser. The four-day tournament starts July 14. The 40-year-old, 14-time major champion Woods hasn’t played in a competitive golf tournament since August 2015 due to nagging back injuries.
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 appears that the transformation is nearly complete. Nationstar Mortgage is now one step closer to officially becoming Mr. Cooper, as the company recently launched a flagship website for its new brand: MrCooper.com. The website provides a clearer picture of what Mr. Cooper is and what it means for Nationstar. …read more
From:: Real Estate Wire
Step one: People decide that they want to buy a home. Step two: And this is where you come in, they start shopping for a mortgage. It’s this period where brokers and lenders only have a very miniscule amount of time to lock in potential borrowers. This is what you need to know. …read more
From:: Real Estate Wire
Shares of Harley-Davidson Inc.’s soared 18% on heavy volume in afternoon trade Friday, putting it on track for the biggest one-day gain in over seven years, amid reports of buyout speculation. Volume reached 18.9 million shares with 30 minutes left in the regular session, which is nearly nine times the full-day average. The Fly reported earlier that chatter was circulation on trading desks that KKR & Co. could be interested in buying the motorcycle maker. Harley-Davidson did not immediately respond to a request for comment. A KKR spokesperson was not immediately available for comment. The stock was the biggest percentage gainer on the NYSE Friday. The one-day jump would be the biggest since it ran up 20% on March 18, 2009.
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From:: Stock Market News
Natural-gas futures saw their highest settlement since May 2015 on Friday, buoyed by expectations that warmer weather will help ease U.S. supplies. Oil futures, meanwhile, saw their first weekly gain in three as demand concerns eased. August natural gas rose 6.3 cents, or 2.2%, to settle at $2.987 per million British thermal units–the highest since May 2015. Prices were up about 12.2% for the week. August crude added 66 cents, 1.4%, to settle at $48.99 a barrel, up 2.8% for the week.
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From:: Stock Market News
The issuance of mortgage-backed securities by the government-controlled agencies last month ascended to the highest level in nearly a year.
There were 5 percent more in fixed-rate MBS issued on behalf of Fannie Mae, Freddie Mac and Ginnie Mae in June than in the prior month.
Based on historical issuance data, the three organizations’ collective securitizations were greater than during any single month since July 2015.
From:: Financing
Gold futures settled higher on Friday to tally a fifth weekly gain in a row, buoyed by a weaker U.S. dollar and strong demand for assets considered less risky in the wake of the U.K.’s vote last month to leave the European Union. Silver futures also rallied to see their largest weekly gain in almost 3 years. Gold for August delivery rose $18.40, or 1.4%, to settle at $1,339 an ounce. Futures prices were up 1.3% for the week and marked their highest settlement since July 10, 2014, according to FactSet data. September silver rose 96.5 cents, or 5.2%, to settle at $19.588 an ounce. It was up 10.1% for the week.
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From:: Stock Market News