Foreclosures | Mortgages | Financing
Consumer Financial Protection Bureau Director Richard Cordray hasn’t even officially come out with an Ohio gubernatorial bid, and there’s already a growing list of people fighting to make sure he doesn’t win. The group behind this latest website might sound familiar since they already vocalized opposition to Cordray running for Ohio governor. …read more
From:: Real Estate Wire
It’s been a year since the annual rate of existing home sales was as low as it was last month. Hurricane-affected areas are expected to weaken next year.
The sale of 535,000 existing U.S. single-family homes, townhomes, condominiums and co-operatives was completed during August 2017.
That brought the number of pre-owned residential property sales from Jan. 1 through the end of August of this year to 3.739 million transactions.
From:: Financing
A former attorney from New York will spend more than three years in prison for defrauding real estate investors out of at least $1 million. According to the U.S. Attorney’s Office for the Southern District of New York, Brandon Lisi received a sentence of 38 months in prison for his role in a scheme to defraud at least four individual investors in real estate transactions of more than $1 million. …read more
From:: Real Estate Wire
Facebook Inc. Chief Operating Officer Sheryl Sandberg said Wednesday that the company plans to tighten its enforcement process and human review for ads on its platform. Facebook announced the changes in the wake of a ProPublica report that the Menlo Park-based company had enabled advertisers to reach “Jew haters.” The company said additional human review for new ad targeting options aims to keep the offensive terms from appearing. In addition, Sandberg said Facebook will create a program that will enable the company’s users to report ad abuses so the company can take action. “We have long had a firm policy against hate on Facebook,” Sandberg wrote. “Our community deserves to have us enforce this policy with deep caution and care.” Facebook stock edged down less than 1% after hours, and closed down 0.2% to $172.17 in the regular session. The company’s stock has surged 49.7% this year, with the S&P 500 index rising 12%.
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 senior executive at a real estate investment company and a real estate broker stand accused of playing key roles in a $50 million mortgage fraud scheme involving a handful of multi-million dollar mansions in the San Diego area. Here are all the details. …read more
From:: Real Estate Wire
Alphabet Inc. unit Nest Labs Inc. announced a line of six new internet-connected security products on Wednesday. Nest Secure, which will retail for $499, is the company’s security system and uses a range of sensors, speakers and Nest’s app to protect homes. Nest Secure includes a smart speaker-like base station, several motion sensors and near-field communication-enabled fob keys. In addition to the sensors and fob keys, Nest also announced a video doorbell and an outdoor security camera called Nest Cam IQ for $349. The company did not reveal a price for the video doorbell, called Nest Hello. Alphabet stock was flat after hours and closed up 1.1% to $947.54 in the regular session. Alphabet shares have risen 19.6% this year, with the S&P 500 index rising 12%.
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 Federal Reserve announced it will begin the normalization of its balance sheet starting in October with a max of $4 billion mortgage-backed securities per month. But what does this mean for the housing industry? For interest rates? Experts provide the answers. …read more
From:: Real Estate Wire
Blue Apron Holdings Inc. shares gained Wednesday afternoon after grocer Albertsons Co. announced that it had bought a rival meal-kit service called Plated. Albertsons, a private company that owns grocery-store chains including its namesake, Safeway and Vons, did not disclose the price paid for Plated. Plated offers meal kits through the mail, like Blue Apron, but will now make that company’s offerings available in some of its 2,300-plus grocery stores nationwide. Blue Apron shares gained more than 3% to $5.40 in late trading, after falling 5.5% in the regular session to $5.22. Shares have fallen by as much as 50% from the $10 price commanded in its July initial public offering, amid concerns about competition from the likes of Amazon.com Inc.
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 Juno Therapeutics Inc. fell more than 1% late Wednesday after the biopharmaceutical company announced the launch of a proposed follow-on public offering worth $225 million. Juno said it expects to grant the underwriters an option to purchase up to an additional $33.75 million of shares. The company plans on using the proceeds for general corporate purposes and working capital, Juno said in a statement. Morgan Stanley and J.P. Morgan are joint bookrunners. The stock ended the regular trading session up 3.2%.
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
Tesla Inc. is working with Advance Micro Devices Inc. to produce a chip for its Autopilot, the car maker’s suite of advanced driver-assistance systems, aiming to reduce Tesla’s reliance on Nvidia Corp. , according to a CBNC report that cited a source familiar with the matter. The report cited the same source saying more than 50 people are working under Jim Keller, the head of Autopilot, and Tesla has brought on several former AMD employees to work on the project, CNBC said. Tesla has developed its own ADAS software and related systems and relies on an onboard Nvidia AI “supercomputer.” AMD shares rose 1.5% late Tuesday, while Tesla shares and Nvidia shares fell 0.1% and 0.6%.
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