Blackstone Group LP will buy real estate investment trust Strategic Hotels & Resorts (BEE.N) in a deal valued at $6 billion, attracted by the company’s iconic hotel properties in key locations of the United States.
Category: Top National News
Home Equity Shows Gains, Foreclosure Inventory Shrinks
Latest housing market data confirms that the market is showing continued signs of improvement, with significant gains in home equity and a dramatic evaporation of the foreclosure inventory.
Fannie Mae Revamps Mortgage Program
Fannie Mae is overhauling its mortgage program for low- to moderate-income households to better accommodate today’s financial and familial realities.
A Banker Beatdown That Could Hurt Housing
Dreams of reconciliation between big banks and the Federal Housing Administration got a rude awakening this week.
Major Updates Improve Mortgage Projections
Substantial changes in mortgage market predictions are being announced by credible analysts. For example, the Mortgage Bankers Association released its updated mortgage finance and economic forecasts. The revision included a significant increase in the volume of purchase originations.
MBA Pushing for Safe Harbor for TRID
The mortgage industry is pushing for the Consumer Financial Protection Bureau to adopt a formalized grace period for the enforcement of the complex TILA-RESPA Integrated Disclosure requirements, and now Mortgage Bankers Association is pushing Congress to take action.
Miami Lawsuits on Mortgage Discrimination to Continue
The city of Miami’s lawsuits claiming three major banks engaged in discriminatory mortgage lending practices for years will continue in federal court.
Mortgage Debt–The New Retirement Time Bomb
These days, baby boomers increasingly are carrying that debt into retirement. And while there are pluses to that (the interest rate deduction for some), many financial planners now advise their clients to pay off the mortgage. But they are much more concerned with credit-card, auto-loan and student-loan debt.
Liar Loans Redux: They’re Back and Sneaking Into AAA Rated Bonds
Years after the great American housing bust, mortgages akin to the so-called liar loans — which were made without verifying people’s finances — are creeping back into the market. And, like last time, they’re spreading risks far and wide via Wall Street.
BofA Pushes to Keep Moynihan’s Dual Role
Stung by a wave of investor criticism, Bank of America is stepping up efforts to convince shareholders that Chief Executive Brian Moynihan should remain chairman.