Foreclosures | Mortgages | Financing
While first-mortgage originations for subprime borrowers are growing, it’s not the same faulty mortgages that plagued the financial crisis. This time around lenders are heightening their focus on consumers’ ability to repay. …read more
From:: Real Estate Wire
Freddie Mac announced Monday that it obtained more insurance policies designed to cover much of the remaining credit risk associated with its first Structured Agency Credit Risk transactions of 2016. …read more
From:: Real Estate Wire
LoJack Corp. shares jumped in the extended session Monday after CalAmp Corp. offered to buy the vehicle theft-prevention device company for $134 million. LoJack shares surged 18% to $6.34 after hours. CalAmp said it offered $6.45 a share cash for LoJack, and that both company boards had approved the deal. CalAmp expects the acquisition to add 15 cents to 25 cents a share to its fiscal 2017 earnings.
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 GSE has officially set the release date for Desktop Underwriter Version 10.0 for the weekend of June 25 after originally announced the changes last year. Here’s a timeline for what lenders can expect going forward. …read more
From:: Real Estate Wire
Plantronics Inc. reported quarterly earnings that topped Wall Street estimates Monday, but revenue figures as well as the headset maker’s earnings outlook fell short of Wall Street estimates. For the fiscal third quarter, the company reported adjusted earnings of 83 cents a share on revenue of $225.7 million. Analysts surveyed by FactSet had forecast earnings of 76 cents a share on revenue of $230.4 million. Plantronics said it expects adjusted fiscal fourth-quarter earnings of 50 cents to 60 cents share on revenue of $200 million to $210 million. Analysts expect 73 cents a share on revenue of $207.8 million. The company said its board approved a new stock buyback plan of up to 1 million shares.
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
Shares of retailer PVH Corp. , which owns Calvin Klein, Tommy Hilfiger and other clothing lines, rose late Monday as the company said it expects adjusted, full year 2015 earnings in the upper end of its guidance, or around $7 a share. Strength in the Calvin Klein and Tommy Hilfiger global businesses offset a “difficult” retail environment in the U.S., which included unseasonably warm weather and fewer international tourist spending, the company said in a statement. Shares of PVH rose 5% in late trading Monday after ending the regular session down 0.3%.
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From:: Stock Market News
Shares of Mattel Inc. surged in Monday’s extended trade after the toy maker posted higher sales, snapping an eight-quarter losing streak. Mattel reported its fourth-quarter earnings rose to $215.2 million, or 63 cents a share, from $149.9 million, or 44 cents a share, in the same quarter last year. Excluding items, the company famous for its iconic Barbie dolls would have earned 67 cents a share. Revenue grew to $2 billion from $1.99 billion a year ago. Analysts surveyed by FactSet had forecast earnings of 61 cents on $1.91 billion in revenue. Mattel shares jumped 6.5% in after-hours session.
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From:: Stock Market News
Shares of Alphabet Inc. surged 8% in after-hours trade, which would push its market capitalization above that of Apple Inc.’s for the first time, after the company reported stronger-than-expected fourth-quarter earnings. The company, which broke out core Google earnings from its “other bets” this quarter, reported earnings of $4.9 billion, or $7.06 a share, compared with $4.6 billion, or $6.79 a share, in the year-earlier period. Excluding one-time items, Alphabet reported earnings of $8.67, topping the FactSet consensus estimate of $8.10. Total revenue rose to $21.3 billion, versus $14.5 billion last year, beating expectations of $16.9 billion. Revenue from its core Google business jumped 18% to $21.2 billion.
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From:: Stock Market News
WASHINGTON (MarketWatch) – The U.S. government expects to borrow $250 billion in the January-March quarter, an estimate that is $85 billion higher than previously projected in November, the Treasury Department said Monday. The latest estimate includes an assumption of an end-of-March cash balance of $320 billion. For the April-June quarter, Treasury expects to pay down $112 billion in net marketable debt assuming a cash balance of $350 billion. During the October-December quarter, Treasury issued $354 billion in net marketable debt and ended with a cash balance of $333 billion.
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From:: Stock Market News
Oil futures fell 6% on Monday as downbeat economic data from China and growing doubts over a coordinated oil-producer output cut helped prices settle lower for the first time in five sessions. March West Texas Intermediate crude finished at $31.62 a barrel on the New York Mercantile Exchange, down $2. Prices had gained roughly 10.8% over the past four consecutive sessions.
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From:: Stock Market News