Foreclosures | Mortgages | Financing
Bitcoin on Thursday recently traded 7% higher at $5,168, according to CoinDesk data. The cryptocurrency is hitting all-time highs on Thursday. It previously topped the $5,000 mark in early September.
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From:: Stock Market News
Elon Musk’s SpaceX on Wednesday successfully launched a reused Falcon 9 rocket for the third time this year. Overall, it was the private space company’s 15th rocket launch of 2017. The rocket blasted off from Kennedy Space Center in Florida around 7 p.m. Eastern, carrying a satellite that will be used by Echostar Corp. and Taiwan’s SES . The rocket’s first stage successfully landed moments later on a SpaceX drone ship in the Atlantic Ocean. On Monday, SpaceX launched a non-refurbished Falcon 9 rocket, which also successfully blasted off and landed.
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From:: Stock Market News
CarGurus Inc. said late Wednesday it was pricing shares of its initial public offering above its previously stated range. The company, which uses algorithms and data analytics to find users deals on new and used cars, said it would price 9.4 million shares at $16 apiece for trading under the ticker “CARG” on the Nasdaq on Thursday. The company had said in late September that shares would be priced in the $13 to $15 range. CarGurus is selling 2.5 million shares, while existing shareholders are selling 6.9 million. Underwriters have an option for 1.4 million additional shares to cover overallotments. Earlier in September, CarGurus filed for its IPO with the Securities and Exchange Commission.
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From:: Stock Market News
AT&T Inc. late Wednesday warned investors to expect lower third-quarter revenue and profit after several “devastating hurricanes, as well as earthquakes in Mexico, significantly impacted certain regions of our service area during the third quarter,” the company said in a filing. Damage to the company’s network and other property, costs to restore services, and revenue declines from waived charges will decrease third-quarter revenue nearly $90 million, and pre-tax earnings about $210 million, or 2 cents a share, AT&T said. “We expect further reductions in the fourth quarter as we continue to assess damage to our network and fully restore service,” it said. The company reiterated its full-year 2017 guidance of mid-single-digit adjusted earnings growth, adjusted consolidated operating margin expansion, capital expenditures in the $22 billion range, and free cash flow at the low end of the $18 billion range. The company also said it expects to report a net decline in total video subscribers, thanks to “heightened competition in traditional pay TV markets and over-the-top services, hurricanes and our stricter credit standards.” Shares of AT&T fell 0.2% after hours, and ended the regular session down 0.8%.
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From:: Stock Market News
Annual fiscal securitizations conducted on behalf of the Government National Mortgage Association increased, while the book of business continued to grow.
The unpaid principal balance of Ginnie Mae mortgage-backed securities ended September at $1.8842 trillion, according to monthly operational data.
The government-owned corporation’s total expanded from $1.8706 trillion at the conclusion of the preceding month and $1.7281 trillion as of the same date last year.
From:: Financing
Outgoing Federal Reserve Vice Chairman Stanley Fischer said Wednesday the central bank doesn’t see an unsustainable bubble building in asset prices. Responding to a question about lofty equity valuations during an interview on NPR’s All Things Considered, Fischer said “well, with low interest rates stock-market prices will tend to be higher than they would be if the interest rates were higher. But we don’t think we’re in a situation where we have an inflationary bubble or an unsustainable set of prices in the asset market.” He said the U.S. central bank is usually reluctant to comment on asset prices, saying “I shouldn’t go on.” The Fed vice chairman is set to retire at the end of this week even though his term is up in June. Fischer said he was leaving the central bank early for “personal reasons” but did not elaborate.
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From:: Stock Market News
Outgoing Federal Reserve Vice Chairman Stanley Fischer said Wednesday the central bank doesn’t see an unsustainable bubble building in asset prices. Responding to a question about lofty equity valuations during an interview on NPR’s All Things Considered, Fischer said “well, with low interest rates stock-market prices will tend to be higher than they would be if the interest rates were higher. But we don’t think we’re in a situation where we have an inflationary bubble or an unsustainable set of prices in the asset market.” He said the U.S. central bank is usually reluctant to comment on asset prices, saying “I shouldn’t go on.” The Fed vice chairman is set to retire at the end of this week even though his term is up in June. Fischer said he was leaving the central bank early for “personal reasons” but did not elaborate.
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From:: Stock Market News
More than $3 billion in reperforming and non-performing government-sponsored enterprise mortgages are being marketed for sale to the highest bidder.
One of two transaction is an offering of roughly 9,900 reperforming loans that have a collective unpaid principal balance of $2.2 billion.
Reperforming loans were previously delinquent. But the mortgages are performing again due to the loans being brought current with and without modifications.
From:: Financing
Editor’s Note: This was originally published on RISMedia’s blog, Housecall. See what else is cookin’ now at blog.rismedia.com:
HomeSmart CEO Pilots Irma Rescue Mission
Most of us have a hobby—baking or painting, a creative interest, a part-time passion or a simple way to pass the time. For Matt Widdows, CEO and founder of HomeSmart International, that passion is flying his private plane, a Pilatus PC-12 that seats eight passengers.
For years, Widdows has been using his flying skills to give back, working with the Eastern division of Angel Flight, an organization that offers air transportation for passengers in need of medical treatment. So when Hurricane Irma began to loom, Widdows realized he had the opportunity to put his skills, and his plane, to further use.
“If you’ve got the means and you’ve got the abilities and can do something to help, it’s important to do that,” says Widdows. “In my case I’ve got a specific skillset and my plane is perfect for it.”
Originally scheduled to speak at RISMedia’s Real Estate CEO Exchange on Sept. 12 and 13 in New York City, Widdows passed his opportunity onto HomeSmart COO Ashley Bowers and—along with two pilot friends—flew to the Dominican Republic to relocate relief workers to Turks and Caicos.
From Sept. 12-17, Widdows and his crew traveled through Florida, San Juan, St. Thomas and St. Maarten, delivering over 2,000 pounds of emergency staples per trip. These deliveries included water, generators, medical supplies, and even chilled soft drinks—a special request made by a team of relief workers in St. Maarten.
Widdows notes he was unprepared for the level of destruction he found on the islands, especially St. Maarten. “It was a whole different deal,” he explains. “There were refugees on airport grounds; it was shocking.”
Widdows evacuated several families from airport grounds—approximately 15 individuals and three dogs. Among those evacuated was Christy Glacken, along with her husband and three-year-old son. A yacht broker, Glacken had been living in St. Thomas with her family for approximately six months, and had recently purchased and moved into a home that the hurricane hs now rendered uninhabitable. Glacken—who was recovering from surgery with a shattered knee when Irma hit—moved her family down to their basement, where they slept on a wet mattress for two days before they were able to travel to a friend’s nearby home with safer accommodations.
“We just sat there wondering what to do,” says Glacken, on crutches at the time. A friend’s neighbor knew about Widdows’ relief efforts, and passed his number on to Glacken. “We were on his plane three days later,” she says. “Originally, he was going to take us to Puerto Rico, but the dog couldn’t go, so we switched the plan to Florida, which was fortuitous.”
Widdows dropped Glacken and her family in Ft. Lauderdale; they are currently with family in Virginia, wondering what their next move will be.
“We want to go back to …read more
From:: Real Estate News
The American Petroleum Institute reported Wednesday that U.S. crude supplies rose by 3.1 million barrels for the week ended Oct. 6, according to sources. The API data also showed that gasoline stockpiles declined by 1.6 million barrels, but inventories of distillates rose by 2 million barrels, sources said. Supply data from the Energy Information Administration will be released Thursday morning, a day later than usual because of the Columbus Day holiday. Analysts polled by S&P Global Platts expect the EIA to report a fall of 400,000 barrels in crude inventories, along with declines of 1.4 million barrels for gasoline and 1.64 million barrels for distillate supplies. November crude was at $51.03 a barrel in electronic trading, down from the settlement of $51.30 on the New York Mercantile Exchange.
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From:: Stock Market News