Foreclosures | Mortgages | Financing
Well, now it’s officially coming in from all sides. Recently, a coalition of Conservative groups joined the charge to allow the government-sponsored enterprises to rebuild capital. Now, it’s not just Conservatives pushing for the recapitalization of Fannie Mae and Freddie Mac, Congressional Democrats are joining the fight too. …read more
From:: Real Estate Wire
As first reported by HousingWire on Thursday, Ocwen decided to layoff 120 of its employees in order to move its reconstruction efforts forward. Today, Ocwen’s stock increased substantially. Here’s the details. …read more
From:: Real Estate Wire
Oil futures lost more ground Friday after Baker Hughes showed that the weekly number of active U.S. rigs drilling for crude rose by 9 to 325 as of Friday. The total U.S. rig count climbed by 4 to 408. July crude was at $48.35 a barrel on the New York Mercantile Exchange, down 82 cents, or 1.7%, from Thursday’s settlement. It was trading at $48.70 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
ARMA formed a national fulfillment service center for real estate title and settlement related services. But that’s not all. The company also hired a new senior vice president of operations. Here’s what she brings to the table, and what the new service center does. …read more
From:: Real Estate Wire
Sensus Healthcare, Inc. was trading at $5.95, above its issue price of $5.50, in its debut on the Nasdaq Friday morning. The company sold 2 million units to raise about $11 million. Each unit is made up of one share of common stock and a three-year warrant to purchase a share of stock at $6.75. The offering was underwritten by Northland Securities, Inc. and Neidiger, Tucker, Bruner, Inc.
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
Whereas the jobs report was incredibly lower than anyone expected, Goldman Sachs pointed out that this month could be an outlier since it does not follow the trend of the past several months. Stifel Economics agreed, stating, “One data point does not make a trend.” …read more
From:: Real Estate Wire
The SPDR Utilities Select Sector ETF surged 1.6% toward a record high in morning trade Friday, as the drop in Treasury yields in the wake of a weak May jobs report made the high-yielding sector tracker more attractive. Of the ETF’s 29 components, 25 traded higher, and 12 hit fresh 52-week highs in intraday trade. Among the ETF’s most-active components, shares of PPL Corp. climbed 1.6%, of Southern Co. shot up 1.8%, of AES Corp. gained 0.6%, of Excelon Corp. tacked on 0.9% and of NRG Energy Inc. slipped 0.4%. The yield on the 10-year Treasury note fell 0.1 percentage points to a three-week low of 1.712%, after data showing only 38,000 new jobs were created in May, while 155,000 new jobs were expected. The ETF, which has dividend yield of 3.20%, according to FactSet, has run up 16% year to date, compared with a 2.4% gain in the S&P 500 , as the yield on the 10-year Treasury note has dropped 0.557 percentage points.
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
Cost cutting at Ocwen Financial Corp. has recently led to a domestic staff reduction of more than a hundred employees.
In a statement to Mortgage Daily, the company indicated that it has conducted an extensive analysis of its cost structure.
Ocwen subsequently decided to reduce staffing to a level that aligns resources with current strategy and market opportunities.
From:: Financing
Today’s jobs report shocked economists with its unusually low numbers. Although there was talk that predictions would be off slightly due to the Verizon Strike, they didn’t expect it to be this low. So what was the nonfarm payroll employment? And what will that mean for interest rates? …read more
From:: Real Estate Wire
A drastic decline in job growth was reported by the government. But the news was good for the mortgage industry — with employment expanding and rates tumbling.
U.S. nonfarm payroll employment was up a meager 38,000 jobs during May, according to data that was reported Friday by the Bureau of Labor Statistics.
Job growth plunged compared to a month earlier, when employment was up a weak 123,000 — and that number was revised down from 160,000 originally reported.
From:: Financing