Real estate news

• Bank of America well ahead on national mortgage settlement deadline

  31-05-2016 23:58
  
  Almost two years after the settlement was announced, Bank of America is nearly two-thirds of the way done on fulfilling its $7 billion promise of consumer relief required as part of its $16.65 billion settlement with the U.S. Department of Justice and the attorneys general of six states. And by the looks of things, it's ahead of schedule for completing the requirement.
  
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• Canadian group ups Phoenix real estate buys to $109M - Phoenix Business Journal

  31-05-2016 23:56
  Canadian group ups Phoenix real estate buys to $109M
  Phoenix Business Journal
  Vancouver-based Western Wealth Capital Ltd. has bought four apartment developments from Philadelphia-based RAIT Financial Trust for $41.5 million. The four Phoenix-area complexes total 748 units. Pennylane Apartments Enlarge. Pennylane Apartments.
  
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• SEC fines First Mortgage $12.7M, bans 6 execs for defrauding Ginnie Mae investors

  31-05-2016 23:28
  
  Several senior executives at First Mortgage Corporation lied about the performance of the mortgages the company originated so they could pull the mortgages out of mortgage-backed securities guaranteed by Ginnie Mae, then turn right back around and sell the mortgages back into new mortgage bonds, defrauding investors out of $7.5 million, the Securities and Exchange Commission said Tuesday.
  
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• United Wholesale Mortgage hires new chief technology officer

  31-05-2016 23:04
  
  Bressler will fill the role of chief technology officer for the company, and will be working closely with the company’s chief information officer to further develop the company’s technology platform. See why UWM is calling this hire a “game changer.”
  
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• PSA, AMT And EQIX, Pushing Real Estate Industry Downward - TheStreet.com

  31-05-2016 22:42
  
  TheStreet.com
  PSA, AMT And EQIX, Pushing Real Estate Industry Downward
  TheStreet.com
  Two out of the three major indices are trading lower today with the Dow Jones Industrial Average ( ^DJI) trading down 88 points (-0.5%) at 17,785 as of Tuesday, May 31, 2016, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,627 issues advancing ...and more »
  
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• Real estate, financials drag TSX lower - Toronto Star

  31-05-2016 22:28
  
  Toronto Star
  Real estate, financials drag TSX lower
  Toronto Star
  The commodity-heavy index also felt pressure from lower oil prices, with the S&P/TSX composite index losing 20.89 points to 14,065.78. (Andrew Francis Wallace / Toronto Star file photo). By The Canadian Press. Tues., May 31, 2016. The Toronto stock ...
  TSX closes 20 points lower as real estate, financials fall; dollar downTimes Colonist
  TSX dips on real estate and financial stocksThe Kitchener Postall 51 news articles&nbs
  
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• 'Instant fix:' Big real estate business seizes on Nashville's white-hot apartment market - Nashville Business Journal

  31-05-2016 22:13
  Nashville Business Journal
  'Instant fix:' Big real estate business seizes on Nashville's white-hot apartment market
  Nashville Business Journal
  One of Nashville's largest real estate companies has had to watch as some top competitors flourished and feasted on the hottest part of Nashville's real estate boom — apartment activity. That officially changed Tuesday, when Cushman & Wakefield ...
  
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• Prodigy Network CEO Rodrigo Niño Updates on Real Estate Market & Future Plans - Crowdfund Insider

  31-05-2016 22:08
  
  Crowdfund Insider
  Prodigy Network CEO Rodrigo Niño Updates on Real Estate Market & Future Plans
  Crowdfund Insider
  Prodigy Network is one of the largest entrants in the real estate crowdfunding sector within the US. To date, Prodigy has raised approximately $160 million for its portfolio of property located in New York City. What is unique about Prodigy is the fact ...
  
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• Default servicing law firms McCalla Raymer, Pierce and Associates announce merger

  31-05-2016 21:59
  
  The world of default mortgage servicing is now a little smaller, as default servicing law firms McCalla Raymer and Pierce and Associates announced plans to merge the two firms into one. Here's what both firms say about the merger.
  
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• Be Part of the Exclusive REALTOR® Broker Summit

  31-05-2016 21:59
  
  NAR PULSE–Hear from peers and top executives at industry-leading companies including BoomTown, Sindeo, SmartZip and realtor.com®. Time is running out, secure your spot for this exclusive broker event on June 9-10. Click here to register today.
  REALTORS® Still Have Health Insurance Options during Special EnrollmentIf you or your agents missed open enrollment, REALTORS® Insurance Marketplace has options for NAR members who may be in need of health insurance. The SMART Short Term
  
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• Hispanic Wealth Project Symposium Attracts Major Leaders

  31-05-2016 21:57
  
  The Hispanic Wealth Project (HWP), formally known as the NAHREP Foundation, has announced the high-status speaker lineup for its Symposium taking place today, June 1, at the Ritz Carlton in Battery Park, New York. The HWP’s Annual Report will be released at the Symposium, unfolding the current progress for the ground-breaking project goal of tripling Latino household wealth in the next 10 years.
  “We are generating innovative practices and thoughtful discourse on wealth creation for H
  
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• Why a Fed Interest Rate Hike Next Month is Looking Increasingly Likely

  31-05-2016 21:52
  
  (TNS)–With the economy’s prospects brightening after a bleak winter, Federal Reserve policymakers are increasingly signaling they are ready to nudge up a key interest rate.
  Fed Chair Janet Yellen added to the speculation on Friday, saying that if the economy continued to improve as she expected, then it would be appropriate to “gradually and cautiously” raise the benchmark rate, “probably in the coming months.”
  “It has been a slow recovery, but we’
  
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• Look Inside A Real Estate CEO's Palatial $40 Million Park Avenue Apartment [Photos] - Forbes

  31-05-2016 21:50
  
  Forbes
  Look Inside A Real Estate CEO's Palatial $40 Million Park Avenue Apartment [Photos]
  Forbes
  David Simon, CEO of Simon Property Group, has listed his full-floor residence at a desirable Upper East Side co-op for $39.5 million with Douglas Elliman. FORBES has exclusive photographs of the apartment's interior. Douglas Elliman. The decoration of ...and more »
  
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• Canadian real estate agent confirms authenticity of 'laser eyes' ad - UPI.com

  31-05-2016 21:42
  
  UPI.com
  Canadian real estate agent confirms authenticity of 'laser eyes' ad
  UPI.com
  Vancouver real estate agent Patricia Houlihan confirmed the authenticity of an ad featuring her shooting laser beams out of her eyes. The ad gained internet notoriety after some questioned if it was real. Houlihan said she enjoyed the ad because she ...
  
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• Guardian Mortgage Company opens new location in Austin

  31-05-2016 20:32
  
  Guardian Mortgage is set to open its sixth office in Texas, and 13th office nationwide. The company’s expansion plans, however, do not end with Austin. Here's what the company says about its future expansion plans as it looks to capture more mortgage share.
  
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• Real Estate Interests Want Bushwick Inlet Park To Be An Artisanal Maker Playground - Gothamist

  31-05-2016 20:03
  
  Real Estate Interests Want Bushwick Inlet Park To Be An Artisanal Maker Playground
  Gothamist
  While battle-weary north Brooklyn residents continue to demand the 28-acre Bushwick Inlet Park that former-mayor Michael Bloomberg promised them over a decade ago, another faction is making the case that the Bayside Oil Depot could be renovated rather ...and more »
  
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• Republicans set to unveil plan to replace Dodd-Frank

  31-05-2016 19:35
  
  Later this year, the Dodd-Frank Wall Street Reform and Consumer Protection Act will reach its sixth anniversary, unless Congressional Republicans get their way. They would hate to see Dodd-Frank reach anniversary number seven judging by this recent, fiery speech. Here's what their replacement would look like.
  
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• City Controller: Philly real estate sales approaching 'pre-recession levels' - Philadelphia Business Journal

  31-05-2016 19:32
  Philadelphia Business Journal
  City Controller: Philly real estate sales approaching 'pre-recession levels'
  Philadelphia Business Journal
  The Graduate Hospital and Point Breeze sections of Philadelphia are once again helping to drive the start of the residential real estate season in the city, according to a new report. In the 19146 ZIP code, which includes both of the South Philly ...and more »
  
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• China's Real-Estate Firms Rush to Tap Capital Markets - Wall Street Journal

  31-05-2016 19:32
  
  Wall Street Journal
  China's Real-Estate Firms Rush to Tap Capital Markets
  Wall Street Journal
  HONG KONG—China's economy may be cooling, but its real-estate companies are fueling a debt-and-equity underwriting boom. Chinese real-estate companies have issued $69.32 billion of debt and equity so far this year, up from $25.8 billion during the ...and more »
  
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• Consumer confidence declined in May?

  31-05-2016 19:31
  
  The Conference Board says consumer confidence is down, but that doesn’t seem to be affecting consumer spending or even housing growth. See why economists think that is, and what other data points seem to conflict with The Conference Board findings.
  
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• Wells Fargo's Pavaso approval brings digital mortgages a step forward

  31-05-2016 19:14
  
  Pavaso brought the industry one step further into the digital world thanks to its new approval from Wells Fargo as a vendor for "hybrid" eClosings. The move is a "major milestone for digital closings in the industry."
  
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• How VC Funding Is Transforming the Real Estate Industry - Observer

  31-05-2016 18:57
  
  Observer
  How VC Funding Is Transforming the Real Estate Industry
  Observer
  Money is pouring into this multitrillion-dollar industry as investors seek to grab a large slice of the pie. (Photo: Alex Wong/Unsplash). The real estate brokerage business is one of America's last cottage-type industries. In 2015, the Association of ...
  Real Estate - I'm Getting That Sinking FeelingSeeking Alpha
  Housing Bubble: Insider Say Current Real Estate Bubble is About to BurstProfit Confidential
  Ethiopia: Roles of
  
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• Christy Clark downplays real estate ties to her latest Asia trade junket - Business in Vancouver

  31-05-2016 18:57
  
  Business in Vancouver
  Christy Clark downplays real estate ties to her latest Asia trade junket
  Business in Vancouver
  Premier Christy Clark is on the defensive after public criticism over leading a trade mission to Asia that included executives from Vancouver's red-hot real estate industry. A list obtained by Business in Vancouver from the International Trade ministry ...
  BC Premier denies residential real estate sales were part of Asia trade missionVancouver Sun
  Why isn't gov't doing more to co
  
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• Case-Shiller: Home prices rising twice as fast as inflation

  31-05-2016 18:04
  
  The Dow Jones Case-Shiller Home Prices Indices show that not only do prices continue to rise, but they are actually rising at double the rate of inflation. Here's what that means for both buyers and sellers, with added commentary from Quicken Loans and Zillow experts.
  
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• NFL great Emmitt Smith to address Valley real estate pros - lehighvalleylive.com

  31-05-2016 17:55
  
  lehighvalleylive.com
  NFL great Emmitt Smith to address Valley real estate pros
  lehighvalleylive.com
  One of the NFL's all-time greats will share his successes in his new job with real estate professionals from the Lehigh Valley. Emmitt Smith to be at Greater Lehigh Valley Realtors event Emmitt Smith (Courtesy photo). Emmitt Smith, who spent most of ...and more »
  
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• Missing Krugersdorp real estate agent's body found - News24

  31-05-2016 16:20
  
  News24
  Missing Krugersdorp real estate agent's body found
  News24
  Johannesburg – A missing real estate agent was found dead in a veld in Randfontein on Tuesday, police said. Hanle Lategan, 52, went missing on Monday when she was supposed to meet clients at a house in Krugersdorp. She parked her car at the ...and more »
  
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• Why Southern California Real Estate is a Great Investment in 2016 - NuWire Investor

  31-05-2016 15:57
  Why Southern California Real Estate is a Great Investment in 2016
  NuWire Investor
  Prices are continuing to rise on home sales in Southern California like elsewhere through much of the country, with the typical real estate agent seeing fewer buyers. What this means for the average home buyer is less affordability. While that's not ...
  
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• London's Real Estate is So Nuts that Businesses are Opening in Public Toilets - Atlas Obscura

  31-05-2016 15:39
  
  Atlas Obscura
  London's Real Estate is So Nuts that Businesses are Opening in Public Toilets
  Atlas Obscura
  Why bars in former toilets should be a call to arms in the battle for public loos. by Linda Rodriguez McRobbie. May 31, 2016. Email This Article. From. To. Please separate multiple addresses with commas. We won't share addresses with third parties.and more »
  
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• Inked: Recent Long Island real estate deals - Long Island Business News (subscription)

  31-05-2016 13:49
  
  Long Island Business News (subscription)
  Inked: Recent Long Island real estate deals
  Long Island Business News (subscription)
  Dominion Expediting bought a 4,600-square-foot industrial building at 77 Gazza Blvd. in Farmingdale for $530,000. Edward Pidgeon from Coldwell Banker Commercial Island Corporate Services represented the buyer and the seller, Diamante Realty, in the ...and more »
  
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• Hudson Yards, America's Largest Private Real Estate Development, Opens First Building - Forbes

  31-05-2016 13:01
  
  Forbes
  Hudson Yards, America's Largest Private Real Estate Development, Opens First Building
  Forbes
  On a sunny morning last week, a few Forbes reporters donned hard hats and neon yellow vests to tour Hudson Yards, the massive 28-acre development being constructed in one of Manhattan's last undeveloped areas, Midtown's far western edge. It's the ...and more »
  
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• Oversupply halts New York real estate, but ultra high-end flourishes - Luxury Daily

  31-05-2016 10:05
  Oversupply halts New York real estate, but ultra high-end flourishes
  Luxury Daily
  Price growth in New York's luxury homes is continuing to flat line, according to StreetEasy's April report. StreetEasy's monthly reports have shown stagnation or decline in the median resale price of New York homes since October 2015, even as the ...
  
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• Here's a breakdown of home prices in the 4 largest states

  31-05-2016 06:01
  
  Home prices nationwide increased in February, albeit a slight 1.2% increase, with the four largest states staying within the same range. Here’s an extra break down of home prices in the four largest states.
  
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