Foreclosures | Mortgages | Financing
Ocwen Financial is about to add a big name to its board of directors, as the nonbank announced Friday that Carol Galante, the former commissioner of the Federal Housing Administration, is set to join the company’s board. Ocwen also announced that it is elevating Phyllis Caldwell from her current role as an independent director to serve as chair of the company’s board of directors. …read more
From:: Real Estate Wire
Most everyone knows where the first White House is located, but do they know where the second one is? It is now going on the market so that anyone (who has a few million dollars to spend) can live like a president. …read more
From:: Real Estate Wire
Moody’s Investors Service on Friday affirmed Spain’s sovereign rating of “Baa2” but lowered the outlook on the rating to stable from positive. The ratings agency said while the banking sector has stabilized and is in better shape to support the economy, there are still some reforms that need to be implemented. “The momentum behind further reform has faltered” amid several elections in the recent years and an “above-trend” economic growth, Sarah Carlson, senior vice president of Moody’s sovereign risk group, said in a statement. Baa2 is two notches above junk bond territory.
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
A mortgage company is sponsoring the creation of a newly renovated home for a sergeant in the Air Force. Indeed, some even consider Sergeant Kevin Parke the “true definition of an all-American hero;” reason enough to give his family a home. …read more
From:: Real Estate Wire
Icahn Enterprises L.P.’s stock tumbled 11% Friday, meaning Carl Icahn may have lost over $700 million on the investment vehicle’s shares he owns. The stock’s selloff came after Standard & Poor’s indicated Icahn Enterprises’ credit rating could be cut to junk status. Icahn is the company’s chairman, and by far its largest shareholder, as he owned 117.04 million common shares, or 91% of the shares outstanding, as of Dec. 31, according to FactSet. If his holding remained intact on Friday, the stock’s $6.10 price decline means he would have lost $713.91 million on his bet. With the stock down $12.55, or 20%, year to date, Icahn could be down $1.47 billion on his investment this year.
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
Mehdi Moarefian, who is also known as “Michael Miller,” and Daniel Shiau, who is also known as “Scott Decker,” each pleaded guilty for their roles in a brazen, predatory scheme that cost homeowners at least $3 million. According to court documents, Moarefian, Shiau, and others did business under at least 30 different company names, including several that closely resembled the names of legitimate businesses in the mortgage finance space, most notably Green Tree Servicing and Nationstar Mortgage. …read more
From:: Real Estate Wire
Government officials banned together to create a mortgage program solution that could significantly change the pace of Detroit’s slow housing recovery. The new program aims to give homeowners and homebuyers a better financial opportunity to buy and renovate a house in the city, creating a new key to rebuilding a city that has struggled to recover from the crisis. …read more
From:: Real Estate Wire
U.S. stocks finished slightly lower Friday as a slide in oil prices resumed, but managed to log their largest weekly gains in three months. The Dow industrials finished down 22.3 points, or 0.1%, at 16,391.10. The S&P 500 finished flat at 1,917.67. The Nasdaq Composite finished 16.89 points, or 0.4%, higher at 4,504.43. Both the Dow and S&P 500 posted their largest weekly gains since Nov. 20, up 2.6% and 2.8%, respectively. Meanwhile, the Nasdaq Composite’s 3.9% weekly gain was its largest since July 17.
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
The bank’s board unanimously voted to reappoint its president and first vice president, after looking at their past performance, peer interaction, future visions for the bank and other things. Get ready for five more years of William Dudley. …read more
From:: Real Estate Wire
Shares of United Continental Holdings Inc. climbed 3.5% in afternoon trade Friday, enough to make them the biggest percentage gainer among components of the Dow Jones Transportation Average . The air carrier disclosed in a filing late Thursday that it now expects to buy back about $1.5 billion worth of its common stock during the first quarter, compared with its previouly-announced plan to repurchase “about $750 million” of its shares. “It is obvious there is a newfound sense of urgency at UAL, which we could clearly see when we went out there two weeks ago with investors,” analyst Hunter Keay at Wolfe Research wrote in a note to clients. “It’s also likely that UAL’s board is listening to their biggest and/or more ‘active’ owners.” Even with Friday’s gain, the stock has dropped 19% over the past 12 months, while the S&P 500 has slipped 8.6%.
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