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Del Potro defeats Federer to reach U.S. Open semi-finals

Juan Martin del Potro has beaten Roger Federer to move through to the semi-finals of the U.S. Open tennis competition. The 24th seed sealed his upset victory against the Swiss player on Wednesday in four sets, according to media reports. The 28-year-old Argentinian now goes on to meet top seed Rafael Nadal, who defeated Russian teenager Andrey Rublev in his own quarter-final in New York. The other semi-final at Flushing Meadows will be a contest between Spain’s Pablo Carreno Busta and South Africa’s Kevin Anderson. On the women’s side, all four semi-finalists at the U.S. Open are Americans. At stake for both men and women is a first prize of $3.7 million, while semi-finalists will each receive $920,000.

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

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Deere to acquire Blue River Technology for $305 million

Deere & Co. said late Wednesday it’s acquiring Blue River Technology to increase the machine-learning capabilities of farm equipment. Deere said it is paying $305 million to acquire the Sunnyvale, Calif.-based company, which uses computer imaging and machine learning for agricultural spraying and weeding equipment. Deere expects to close the acquisition in September. Shares of Deere were unchanged after hours at $116.22.

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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Non-QM Loans Pay Well, Though Higher Prepayments

The origination and securitization of loans that don’t meet Qualified Mortgage requirements has been expanding, and performance is strong. But higher rates are leading to higher prepayments.

A recent expansion has been noted in the origination of loans that don’t meet the Consumer Financial Protection Bureau’s QM criteria, which became effective in January 2014.

A majority of non-QM loans, which presume a borrower satisfies Ability-to-Repay assessments, are either carried on the lender’s balance sheet or traded as whole loans.

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From:: Financing

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Gary Cohn reportedly out of running to be Trump’s Fed chair choice

Despite President Donald Trump saying earlier this year that Gary Cohn is among the candidates to replace Janet Yellen when her term as Federal Reserve chair expires in January 2018, it appears now that Cohn may no longer be on Trump’s Fed chair shortlist. Cohn, who currently serves as the White House National Economic Council Director, reportedly fell out of Trump’s favor after criticizing Trump’s response to the violence in Charlottesville, Virginia last month. …read more

From:: Real Estate Wire

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Flagstar Bank unveils new charitable foundation

Flagstar Bank has unveiled its new charitable arm, Flagstar Foundation. “Flagstar has a 30-year tradition of investing in its communities,” said Beth Correa, president of the foundation. “We now want to formalize that investment through a foundation that will support our corporate goals as well as our employees’ involvement in the nonprofit world.” …read more

From:: Real Estate Wire

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Trump unlikely to nominate Cohn as Fed chair: WSJ

President Donald Trump is unlikely to nominate his economic adviser Gary Cohn to become Federal Reserve chairman, the Wall Street Journal reported Wednesday. The report said that Cohn’s chances dropped after he criticized the president’s response to the Charlottesville alt-right protests, the report said, quoting people familiar with the president’s thinking. Trump had earlier said that Cohn was in the running for the job.

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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Hey home shoppers! Here are sample cover letters to win a bidding war

With multiple offers pouring in on one house, cover letters are often the determining factor in which buyer a seller chooses. And given today’s shortage of housing inventory, don’t take lightly the importance of writing up a genuine and heartfelt letter on why owning this home is important. Included are three examples of cover letters that can be used as a reference point to write one. …read more

From:: Real Estate Wire

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Facebook links thousands of political ads to Russian troll farm

Facebook Inc. said Wednesday that it traced ad sales totaling $100,000 from Russian accounts, some of which are likely linked to a troll farm in St. Petersburg called the Internet Research Agency. The roughly 3,000 ads from 470 accounts ran between June of 2015 and May of 2017 and focused on political issues such as gun rights, immigration, LGBTQ issues and racial discrimination. According to the Washington Post, some of the ads specifically name checked Republican Donald Trump and Democrat Hillary Clinton. The company’s blog also said it conducted a broad search for ads that found an additional $50,000 tied to 2,200 ads that “might have originated in Russia” and had “very weak signals of a connection … not associated with any organized effort.” During and after the 2016, election Facebook was subject to criticism that it spread false information, though chief executive Mark Zuckerberg has said that only a “very small amount” is fake or hoaxes. During the regular session Wednesday, the company’s shares edged up nearly 1% to $172.09, nearly touching its record closing high of $172.45 set July 28. The stock has gained 49.6% this year, with the S&P 500 index gaining 10.1%.

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.

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From:: Stock Market News

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Buyers Sought for MSRs on $430 Mil in Agency Loans

Bids are being taken for mortgage-servicing rights on more than $400 million in agency home loans with a concentration in California.

The offering involves MSRs on 1,888 Ginnie Mae single-family loans that have a collective unpaid principal balance of $424 million.

Nearly half of the loans in the pool of loans are secured by California properties. Oregon is the location of 22 percent, and another 15 percent are in Nevada.

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From:: Financing