JPMorgan Chase & Co agreed to pay $388 million to resolve a lawsuit by investors who claimed that the U.S. bank provided misleading information about the safety of $10 billion worth of residential mortgage-backed securities it sold before the financial crisis, according to multiple media reports.
Read More »Morgan Stanley’s Q2 Net Revenues Reach $9.7 Billion
Morgan Stanley's net revenues reached $9.7 billion for the second quarter ending June 30, 2015, compared with $9.9 billion in the first quarter of 2015 and $8.6 billion a year ago, according to the company’s second quarter earnings statement released Monday. Morgan Stanley noted that their revenues for the second quarter reflect robust performance in equity sales and trading, strong results in investment banking, and continued progress in fixed income and commodities sales and trading.
Read More »Higher Net Interest Rate Income Drives Revenue Hike for SunTrust; Comerica Earnings Down
The Q2 2015 net income for SunTrust was $0.89 per average common diluted share compared to $0.78 per share earned in the last quarter, and includes a $0.03 favorable impact by a per share from a discreet income tax benefit.
Read More »ClosingCorp Announces New Partnership with Bills.com
ClosingCorp, a San Diego-based provider of residential real estate closing cost data and technology for the mortgage and real estate services industries, recently announced a new partnership with Bills.com, the leading resource for free and personalized money help.
Read More »Citi and Goldman Sachs Report Substantial Year-Over-Year Growth in Q2
The net income high at Goldman Sachs is mostly credited to the record first half results in Investment Banking and Investment Management. Net revenues for investment banking reached $2.02 billion for Q2, a 13 percent increase from Q2 2014 and 6 percent higher than Q1 2015.
Read More »Investors Prefer Flipping Over Hold-to-Rent Strategy for Third Straight Quarter
According to the report, investors bidding at live events are more likely to flip the properties they purchase based on survey responses collected in the second quarter of 2015. Respondents noted a preference toward flipping over holding to rent in every state where Auction.com conducted live events.
Read More »LenderLive Network Adds New VP of Business Development for Due Diligence
In this position, Mahdavian will be responsible for developing strategies to leverage the division’s capabilities and refine its value proposition to maximize revenue growth, the company says. He will also work with sales organization members to identify and develop cross-sell opportunities.
Read More »Consumer Expectations Toward Housing and Economy Growing More Positive
The survey found that home price change expectations rose to 3.5 percent, their highest level this year, and median earnings growth as well as household spending growth expectations increased from the prior month. Median consumer inflation expectations at both the short and medium term horizon continue to be stable, while labor market expectations also continued to improve and credit availability expectations were largely unchanged.
Read More »Auction.com Named One of AlwaysOn’s Global 250 for 2015
According to Auction.com, the companies are recognized for their potential to innovate in existing markets and capitalize on new market opportunities. Auction.com was named in the “Marketplace and E-Commerce” category along with Airbnb, Houzz, Thumbtack, Flipkart, and other notable market leaders.
Read More »HUD Inspector General Reports Lack of Oversight on HUD-backed Indian Home Loans
HUD is authorized to guarantee loans made by private lenders to Native Americans, Indian housing authorities or tribally designated housing entities, and tribes under the provisions of Section 184 of the Housing and Community Development Act of 1992 and as amended by the Native American Housing Assistance and Self-Determination Act of 1996.
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