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Executive Conversation: Mohammad Rashid on creating an agile mortgage process

By swheeler@housingwire.com This new borrower experience requires lenders to be nimble and agile in their interactions, but most of them are burdened with back-end legacy systems that are usually monolithic and inflexible. Tavant’s “surround and extend” strategy allows such lenders to keep the core systems intact while creating an abstraction layer that allows development of advanced extended features outside of these systems. …read more

From:: Real Estate Wire

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NYSE suspends trading of Amazon, Alphabet, 6 other securities

The New York Stock Exchange on Friday suspended trading of eight securities, including Amazon and Google-parent Alphabet Inc., due to “market data” issues, a NYSE spokeswoman told MarketWatch. Trading in Amazon Inc., , Alphabet Inc. class A and C shares , Markel Corp. , Intuitive Surgical Inc. , and Autzone Inc. are among the securities that the exchange operator suspended for the day. The so-called Big Board discovered the glitch early Friday and said it has affected the exchange’s ability to “receive and disseminate market data” on those names. Those securities will be trading on other exchange platforms, however. The NYSE is hoping to resolve the issue by Monday, the spokeswoman said, declining to provide further detail. Such halts are unusual but follows an unprecedented four-hour halt of the entire NYSE back in July 2015.

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.

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From:: Stock Market News

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U.S. stocks open lower after solid jobs report, oil drop

U.S. stocks opened lower on Friday, weighed down by losses in the energy sector thanks to another drop in oil prices. Market reaction to a solid jobs report appears to be negative. Continued strength in the labor market may force the Federal Reserve to raise interest rates again this year. The S&P 500 was down 9 points, or 0.5%, at 2,050. The Dow Jones Industrial Average dropped 93 points, or 0.5%, to 17,594. Meanwhile, the Nasdaq Composite fell 29 points, or 0.6%, to 4,840 at the open.

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.

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From:: Stock Market News

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Ford March U.S. sales rise 8% to 254,711 vehicles

Ford Motor Co. said Friday that U.S. sales rose 8% to 254,711 vehicles, its best march sales result since 2001. Lincoln sales grew 11%, while Ford F-Series sales rose 9%. “Total Ford brand SUVs are off to their best start in company history, with first quarter total sales of 188,100 — up 15 percent versus a year ago,” the company said in a statement. Shares fell 1.5% in premarket trade, and are down 4% in the year to date, while the S&P 500 has gained 0.8%.

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.

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From:: Stock Market News

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2-year Treasury yield spikes after jobs report

Short-dated U.S. Treasury yields spiked after a better-than-expected jobs report, though long-dated bond yields were climbing down to the levels ahead of the release. The U.S. created 215,000 new jobs in March, above economists’ expectations. The unemployment rate, meanwhile, rose a notch to 5% from 4.9%, as more Americans joined the labor force. Robust job gains are likely to reassure the Federal Reserve that the economy is growing at a healthy pace and may warrant more rate hikes this year. The yield on a 2-year Treasury note , which is more sensitive to rate hikes, was up 3 basis points to 0.752%. The 10-year Treasury yield was up 1 basis point to 1.78% while the 30-year Treasury yield was flat at 2.614%.

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.

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From:: Stock Market News

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Dollar strengthens after healthy jobs report

The dollar strengthened against most of its developed and emerging-market rivals Friday after data from the Labor Department showed U.S. jobs growth in March was strong than economists had expected. The U.S. economy added 215,000 new jobs in March, better than the 205,000 new jobs forecast in a survey of economists conducted by MarketWatch. The dollar rose to 112.30 yen after the report, up from 112.03 yen shortly before the data. The euro fell to $1.1397 from $1.1430 beforehand. The pound weakened to $1.4262 from $1.4304 beforehand. In emerging-market trading, the Russian ruble weakened to 67.93 to the dollar from 68.17 shortly before.

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.

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From:: Stock Market News

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U.S. adds 215,000 jobs in March; unemployment 5%

WASHINGTON (MarketWatch) – The U.S. created 215,000 new jobs in March, showing an economy that’s still expanding at a moderate pace despite some rocky moments earlier in the year. Economists polled by MarketWatch had expected an increase of 203,000 nonfarm jobs. The unemployment rate rose a tick to 5% from 4.9%, as more people joined the labor force, the Labor Department said Friday. Average hourly wages climbed 0.3% to $25.43. Hourly pay rose 2.3% from March 2015 to March 2016, unchanged from the prior month. The amount of time people worked each week was flat at 34.4 hours. The labor-force participation rate rose a notch and reached 63% for the first time in two years. Employment gains for February and January, meanwhile, were essentially unchanged. The government said 245,000 new jobs were created in February instead of 242,000. January’s gain was trimmed to 168,000 from 172,000.

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.

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From:: Stock Market News