Foreclosures | Mortgages | Financing
In a deal that will combine two Arkansas-based community banks, Bear State Financial, the parent company of Bear State Bank, and Arvest Bank announced Tuesday that Arvest will be acquiring Bear State in an all-cash deal valued at approximately $391 million. …read more
From:: Real Estate Wire
Shares of media and publishing company Tronc Inc. rose as much as 8% on Tuesday after the company announced a broad management shake-up at its flagship newspaper the Los Angeles Times. Tronc said late on Monday that former interim Chief Executive at Yahoo! and President of Fox Interactive Media Ross Levinsohn would be the new chief executive and publisher of the L.A. Times. Levinsohn’s appointment is part of Tronc’s push to a digital transformation across its platforms and businesses, and the move in the stock suggests that investors are on board. Shares of Tronc are up more than 3% in the year to date, but have declined more than 10% in the last 12-month period. By comparison, the S&P 500 index is up more than 9% in the year and more than 12% in the last 12 months.
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
Gold prices fell on Tuesday, as strength in the U.S. dollar pressured the precious metal into giving back all of the previous session’s gains and then some. Traders also showed caution ahead of the Jackson Hole, Wyo. economic policy symposium that begins Thursday, where global central bankers may offer hints on changes to monetary policy. December gold lost $5.70, or 0.4%, to settle at $1,291 an ounce after climbing roughly 0.4% on Monday. The settlement was the lowest settlement since Wednesday, according to FactSet data.
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 Dow Jones Industrial Average was rallying Tuesday afternoon, with the blue-chip gauge on track to book its sharpest one-day rise in about four months. The Dow most recently was up about 167 points, or 0.8%, at 21,870, which would represent the average’s best single-session rise since April 25 when it climbed 232 points, or 1.1%, according to FactSet data. The price-weighted gauge’s advance was supported by early climbs in components Boeing Co. , Apple Inc. , and Goldman Sachs Group Inc. . Tuesday’s uptrend also appears to be bolstered by renewed enthusiasm in risk assets, like equities, following a tough past few weeks for stock benchmarks and worries about turmoil within President Donald Trump’s administration, which could undermine the president’s ability to push through previously pledged fiscal-stimulus legislation. Overall, the market was bucking higher, with the Nasdaq Composite Index surging 1.2% at 6,288 and on pace to snap its 4-session slump, while the S&P 500 index was up 0.9% at 2,449 and on track to add to Monday’s climb.
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
Chevron Corp. Chief Executive John Watson is planning to step down, according to a report Tuesday in The Wall Street Journal, citing people familiar with the matter. The transition is expected to be announced next month, and the leading candidate to replace Watson is Michael Wirth, the report said, citing Wirth’s experience in running refining plants as welcomed amid lower oil prices. Wirth was named Chevron’s vice chairman in February, before serving as vice president of midstream and development and in other roles in the company, which he joined in 1982, according to Chevron’s website. Watson has been CEO and board chairman since 2010, and joined Chevron in 1980, according to the company’s website. Shares of Chevron rose 0.8% on Tuesday, alongside most energy companies. The stock has lost 9.7% this year, versus gains of 9.4% for the S&P 500 Index.
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 Dow Jones Industrial Average was rallying Tuesday afternoon, with the blue-chip gauge on track to book its sharpest one-day rise in about four months. The Dow most recently was up about 163 points, or 0.8%, at 21,869, which would represent the average’s best single-session rise since April 25 when it climbed 232 points, or 1.1%, according to FactSet data. The price-weighted gauge’s advance was supported by early climbs in components Boeing Co. , Apple Inc. , and Goldman Sachs Group Inc. . Tuesday’s uptrend also appears to be bolstered by renewed enthusiasm in risk assets, like equities, following a tough past few weeks for stock benchmarks and worries about turmoil within President Donald Trump’s administration, which could undermine the president’s ability to push through previously pledged fiscal-stimulus legislation. Overall, the market was bucking higher, with the Nasdaq Composite Index surging 1.2% at 6,288 and on pace to snap its 4-session slump, while the S&P 500 index was up 0.8% at 2,448 and on track to add to Monday’s climb.
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
Fannie Mae announced it is following in Freddie’s footsteps as it made its appraisal-free mortgages available for purchases. However, Fannie clarified it is not leaving appraisers behind, and the vast majority of its mortgages will still require them. Click the headline to read more. …read more
From:: Real Estate Wire
Rate changes being made by Radian Guaranty Inc. will improve mortgage insurance premiums for higher loan amounts, refinances and borrowers with high credit scores.
The Philadelphia-based company is expanding the number of credit-score categories for borrower-paid single rates from four FICO buckets to eight buckets.
The lowest FICO bucket is for credit scores that range from 620 to 639, while the highest FICO bucket is for scores of at least 760.
From:: Financing
The Dow Jones Industrial Average was rallying late-morning trade on Tuesday, with the blue-chip gauge on track to book its sharpest one-day rise in about four months. The Dow most recently was up 155 points or 0.7% at 21,861, which would represent the average’s best single-session raise since April 25 when it climbed 232 points, according to FactSet data. The price-weighted gauge’s clamber higher was supported by early advances in components Boeing Company and Apple Inc. . Tuesday’s uptrend also appears to be bolstered by renewed enthusiasm in risk assets, like stocks, following a tough past few weeks for equity benchmarks and worries about turmoil within President Donald Trump’s administration, which could undermine the president’s ability to push through previously pledged fiscal-stimulus legislation. Overall, the market was bucking higher, with the Nasdaq Composite Index surging 1.2% and on pace to snap its 4-session slump, while the S&P 500 index was up 0.85 and on track to add to the previous session’s climb.
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 nation’s primary regulator of national banks has clarified lending practices for financial institutions that make residential loans with high loan-to-value ratios in struggling areas.
In some distressed communities, there is concern that depressed housing values are inhibiting mortgage lending and limiting the speed of recovery.
But banks are in a position to support revitalization in communities targeted by governmental entities by offering high-LTV products on owner-occupied single-family properties.
From:: Financing