GlobeSt.com, Sept. 17, 2015–Morphy, Erika
There has been an uptick in companies spinning off real estate to monetize their (often struggling) operations. Some of these deals have the attention of the Internal Revenue Service.
Category: Top National News
Wells Fargo Mortgage Goal: $125B to Hispanic Buyers
Wells Fargo Home Mortgage announced an ambitious plan to loan $125 billion to as many as 500,000 Hispanic homebuyers over the next 10 years – capitalizing on a growing and under-served segment of the U.S. market.
First, Second Lien Mortgage Defaults Rise in August
First and second lien mortgage defaults both increased in August from July, according to the S&P/Experian Consumer Credit Default Indices.
Toll Brothers, Lennar Bullish on Apartment Rentals
Two of the largest U.S. home builders are redoubling their push into the rental-apartment market, despite concerns the red-hot segment is getting overbuilt.
Markets May Be Telling the Fed to Wait on Rate Rise
As Fed policy makers ponder whether and when to raise rates, an important factor in their decision will be whether to wait to see if recent market turmoil points to unanticipated trouble in the global economy.
U.S. Consumer Spending Rising Solidly; Manufacturing Still Weak
U.S. consumer spending grew at a fairly healthy pace over the past two months, pointing to underlying strength in domestic demand that could strengthen the case for the Federal Reserve to hike interest rates on Thursday.
Business Inventories Rise 0.1% in July
Business inventories rose 0.1% in July to a seasonally adjusted $1.81 trillion, the Commerce Department said Tuesday.
Senate Push to Jumpstart GSE Reform Goes Nowhere Fast
Sen. Bob Corker’s, R-Tenn., “Jumpstart GSE Reform” package would reverse the recent Fannie Mae and Freddie Mac CEO compensation increase and prohibit the U.S. Treasury from selling or otherwise disposing of its shares in the government-sponsored enterprises without Congressional consent. The bill was fast-tracked in the Senate, but now Sen. Sherrod Brown, D-Ohio, reportedly placed hold on the package.
Economist Morici: Fed Hike Would Not Affect Mortgage Rates
Peter Morici, an economist and business professor at the University of Maryland, does not expect mortgage rates to rise substantially if a Fed rate hike is announced.
Senator Warren Said to Pull Support for Fannie Shareholder Bill
Sen. Elizabeth Warren, D-Mass., is withdrawing her support for a Republican bill that had been on the fast track to bar the Treasury Department from selling Fannie Mae and Freddie Mac preferred shares.