Foreclosures | Mortgages | Financing
After coming up a lot in recent news, Walter Investment ended last year in the green, beating expectations by $26.65 million. However, this new earnings release sheds some light on the state of the company’s origination division, giving more background on the latest management shake up. …read more
From:: Real Estate Wire
A Plano, Texas-based property preservation and inspection company is moving its headquarters to the neighboring city of Lewisville. Mortgage Contracting Services, a provider of property preservation, inspections, REO property maintenance and valuations to the financial services industry, announced Monday that it leased a 120,000-square-foot office building. …read more
From:: Real Estate Wire
According to the Department of Housing and Urban Development, First Federal Bank of Kansas City allegedly redlined several neighborhoods where the majority of the residents are African-American, thereby limiting residential mortgage lending to persons based upon their race, which is a violation of the Fair Housing Act. …read more
From:: Real Estate Wire
“We will cooperate with the Justice Department’s investigation, which is at an early stage,” GE said in an SEC filing. According to the included DOJ’s investigation, currently there are 14 lawsuits relating to pending mortgage loan repurchase claims with WMC. …read more
From:: Real Estate Wire
“We will cooperate with the Justice Department’s investigation, which is at an early stage,” GE said in an SEC filing. According to the included DOJ’s investigation, currently there are 14 lawsuits relating to pending mortgage loan repurchase claims with WMC. …read more
From:: Real Estate Wire
The year isn’t starting off too hot, with inventory shortages and rising home prices once again impeding any potential housing growth. If something doesn’t change in new and existing-homes for sale, the path to homeownership will remain an uphill climb. …read more
From:: Real Estate Wire
Ocwen Financial reported its fourth quarter and full-year 2015 financial results on Monday morning, and the news wasn’t good. The nonbank disclosed that it posted a big loss in 2015, making it the second year in a row that the company took a loss. And not only did the nonbank take a loss in 2015, it expects to take another in 2016. And that’s not all. Ocwen also disclosed that it is currently under a SEC investigation. …read more
From:: Real Estate Wire
Amazon.com Inc. has entered into an agreement with UK-based Wm Morrison Supermarkets to bring hundreds of Morrisons products to British Amazon Prime Now and Amazon Pantry customers in the coming months. Amazon Pantry launched in the U.K. in November 2015 with more than 4,000 items across categories including food, household and baby. Wm Morrison Chief Executive David Potts said the supply agreement combines his company’s “fresh food expertise” with Amazon’s “online and logistics capabilities” in a Monday release. “This is a low risk and capital light wholesale supply arrangement that demonstrates the opportunity we have to become a broader business,” Potts said. Wm Morrison shares are up 5.6% in Monday trading while Amazon shares are up 0.6%. Amazon shares are up 47% for the past year while the S&P 500 is down 7.3% for the same period.
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
Sprint Corp. said Monday it is launched a joint venture with Dixons Carphone that will lead to the opening of up to 500 Sprint-branded stores across the U.S.. Dixons Carphone is a European wireless and consumer electronics retailer. “The joint venture is expected to help fuel Sprint’s retail transformation, including the expansion of its retail store footprint,” the company said in a statement. The companies will fund the venture equally and have a 50% stake in it. Sprint shares rose 0.6% in early trade, but are down 35% in the last 12 months, while the S&P 500 has lost about 7%.
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
U.S. stocks were little changed on Monday as investors weighed China’s decision to cut the reserve requirement for banks, a move aimed at boosting the economy. The S&P 500 was off by 1 point at 1,946. The Dow Jones Industrial Average slipped 6 points to 16,633. Meanwhile, the Nasdaq Composite began the day flat at 4,587.
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