Up 22% from last year, the Dallas-Fort Worth market seems to be booming. There is one factor, however, that is keeping it from reaching its full potential. …read more
From:: Real Estate Wire
It’s official: Wells Fargo reaches largest settlement in FHA history
After nearly four years and a beginning attempt to get the case dismissed, Wells Fargo finally resolved its battle with the government over claims related to the banks Federal Housing Administration lending program, growing into the largest settlement in FHA history. Click the headline to read more. …read more
From:: Real Estate Wire
It’s official: Wells Fargo reaches largest settlement in FHA history
After nearly four years and a beginning attempt to get the case dismissed, Wells Fargo finally resolved its battle with the government over claims related to the banks Federal Housing Administration lending program, growing into the largest settlement in FHA history. Click the headline to read more. …read more
From:: Real Estate Wire
Co-Owner of mortgage company sent to prison
Lester Soto pled guilty to a large-scale mortgage fraud scheme, and today the judge has announced his sentencing, and he is not the only one going to prison. Soto used help from loan officers and even attorneys in his scheme. …read more
From:: Real Estate Wire
New York Attorney General pushes FHFA for principal reduction
New York Attorney General Eric Schneiderman is joining the chorus calling for Fannie Mae and Freddie Mac to reduce the mortgage balances of struggling borrowers. Schneiderman sent a letter to FHFA Director Mel Watt this week, stating that principal reduction “should be deployed broadly and quickly to homeowners in desperate need of this relief from the continuing damage caused by the housing crisis.” …read more
From:: Real Estate Wire
New York Attorney General pushes FHFA for principal reduction
New York Attorney General Eric Schneiderman is joining the chorus calling for Fannie Mae and Freddie Mac to reduce the mortgage balances of struggling borrowers. Schneiderman sent a letter to FHFA Director Mel Watt this week, stating that principal reduction “should be deployed broadly and quickly to homeowners in desperate need of this relief from the continuing damage caused by the housing crisis.” …read more
From:: Real Estate Wire
Viamet Pharmaceuticals files for $100 million IPO
Viamet Pharmaceuticals has filed an initial public offering for up to $100 million worth of shares. The North Carolina-based drug maker has researched and developed antifungal drugs. “We have applied our technology to design antifungal compounds that we believe are highly differentiated from, and will address the shortcomings of, currently available antifungal agents,” the company said in a filing Friday. Viamet warned, however, that it has “limited operating history” and has incurred “significant” losses since its start, including a deficit of $86 million as of December. It anticipates it will “continue to incur losses for the foreseeable future,” it said in the filing. The company is expected to trade on the Nasdaq stock exchange under the symbol VMET.
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
Procter & Gamble raises dividend by 1%
The Procter & Gamble Co. said late Friday its board of directors declared a dividend of 66.95 cents a share payable on May 16 to shareholders of record April 18, a 1% increase compared with the prior quarterly dividend. The maker of consumer products such as laundry detergent Tide and Crest toothpaste said the increase reflects savings from streamlining its portfolio. The annualized dividend yield on P&G’s common stock hovers around 3.2%, the company said. Shares of P&G were flat in after-hours trading after ending the regular trading session down 0.1%.
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
Stocks finish slightly higher as consumer stocks dent energy gains
U.S. stocks finished Friday’s session slightly higher as a slump in the consumer-discretionary sector shaved energy gains resulting from a rally in oil. The Dow Jones Industrial Average closed up 35.00 points, or 0.2%, at 17,576.96, after being up 153 points earlier in the session. The S&P 500 Index gained 4.77 points, or 0.2%, to close at 2,046.68. Just before the closing bell, the Nasdaq Composite Index swung to a slight gain of 2.32 points to close at 4,850.69.
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
JPMorgan Chase CEO declares mortgages bad for business
In his yearly letter to shareholders, JPMorgan Chase CEO Jamie Dimon openly questioned why the bank is still in the mortgage business, telling shareholders that one of the main reasons that the megabank is still engaged in mortgage lending is for the benefit of its customers, despite the “volatile” nature of the business and the “increasingly lower returns” coming from mortgages. …read more
From:: Real Estate Wire