Staff Reporter

  • SunTrust Mortgage settles racial lawsuit for $21 Mln
    SunTrust Mortgage has agreed to pay $21 million to settle a federal lawsuit alleging racial discrimination in its lending practices against Hispanics and African Americans.
  • Low mortgage rates attract more short-term borrowers
    As mortgage rates drop to record lows, more homeowners are refinancing into 15-year loans in a bid to pay off their debt in time for retirement.
  • Report: Blackstone, Morgan Stanley to acquire Lloyds Australia loans
    Morgan Stanley and private equity giant Blackstone are close to buying AUS$2 billion worth of distressed commercial property debt being offered for sale by Lloyds Banking Group for about AUS $640 million ($621 million), according to reports.
  • Norway's housing prices rise 0.1 Pct in May
    Norway’s seasonally adjusted housing prices increased by 0.1 percent in May compared to April, according to a report released by real estate industry associations on Friday.
  • TEXT - Fitch rates Jebel Ali Free Zone FZE 'B'/RWP pending proposed refinancing
    Fitch Ratings has assigned the Jebel Ali Free Zone FZE (JAFZ) a Long-term Issuer Default Rating (IDR) of 'B'. The IDR is initiated on Rating Watch Positive (RWP), pending conclusion of the current refinancing. A successful conclusion of the refinancing as discussed below would result in an upgrade to 'B+' with a Stable Outlook.
  • A harsh lesson on charitable contributions
    A California entrepreneur got a harsh lesson on the rules of charitable contributions this week when the U.S. Tax Court denied his $18.5 million deduction for real estate donations -not because he inflated their values, but because he didn't follow the rules.
  • Jennifer Aniston’s Sleek New $21 Million House in Bel Air
    Gotta say I was kind of disappointed to see the new house Jennifer Aniston just bought in Bel Air, California. It’s a little “chilly” for me, and if I had $21 million to spend, this is probably not what I’d spend it on.
  • European commercial landlords unable to pay loans: Moody
    Landlords of commercial properties in Europe are under pressure to repay mortgages as banks withdraw from refinancing the loans, according to Moody’s Investors Service.
  • Mortgage rates fall to record lows: 15-Year Below 3 Pct
    Average U.S. rates on 30-year and 15-year fixed mortgages dropped to record lows again this week, with the 15-year loan dipping below 3 percent for the first time ever.
  • Dubai Nakheel reports $98.6 Mln profit in first quarter
    Dubai Nakheel, the state-controlled builder of artificial islands off Dubai’s coast, reported a first-quarter profit after a year-earlier loss as it delivered more completed properties to buyers and cut costs.
  • "Flip This": foreclosed homes attract investors
    At the height of the housing bubble, the practice of "flipping" homes - buying them for cheap, fixing them up and reselling them for a quick profit - was popular enough to inspire its own TV show.
  • TEXT-S&P Summary: Evergrande Real Estate Group Ltd.
    The rating on Evergrande Real Estate Group Ltd. reflects the company's aggressive growth appetite, debt-funded expansion, short operating and financial management track record as a large-scale developer, and weak corporate governance history. Evergrande's high-volume and large-project-size business model could expose the company to execution risk in small markets. The company's large, low-cost, and geographically diversified land bank, competitively priced products, and good execution because...
  • TEXT-S&P cuts Swedish Stena AB to 'BB'; outlook stable
    The expected improvement predominantly reflects the last drilling ship that will begin operating in the second quarter, and the LNG vessels that will contribute through the full year. We anticipate some modest improvement in the group's ratio of adjusted FFO to debt in 2013.
  • Real estate firm Africa Israel reports dip in profit
    Israeli real estate developer Africa Israel Investments reported a drop in first-quarter net profit as a result of a drop in financing income and higher tax expenses.
  • Cities where houses sell the fastest in the U.S.
    As home sales pick up, it is clear that a significant number of homes purchased in today’s market are bought by investors looking to generate rental income, according to the National Association of Realtors.
  • Survey: Now is best time to buy real estate
    Now is the best time to buy real estate despite uncertainty in the US market, according to a new Housing Predictor survey.
  • Real estate tax bills not accepted at all banks: report
    Franklin County Treasurer John Gulley has announced that due to reasons beyond his control, Bank of America in Benton and West Frankfort will be unable to accept real estate tax payments this year.
  • Brazil's thriving housing market might not last forever
    Brazil's real estate market has been thriving over these last years, but economists believe the current growth may not be sustainable.
  • New home sales rise 3.3 PCT in April
    Purchases of brand new, single-family homes rose by 3.3 percent in April, according to data released Wednesday from HUD and the U.S. Census Bureau.
  • Pending home sales unexpectedly dip in April
    The number of Americans signing contracts to purchase previously owned homes fell in April to a four-month low, indicating the U.S. housing recovery remains uneven, according to a report released Wednesday.
  • Pending home sales post surprise fall in April
    Contracts to purchase previously owned U.S. homes unexpectedly fell in April to a four-month low, undermining some of the recent optimism that the housing sector was touching bottom.
  • Four new ways to curb your market enthusiasm
    It's already shaping up to be a summer of discontent for investors, so it's time to manage your expectations. To a global investor, there are conflicting signals everywhere: Although the U.S. economy continues to chug along like a tugboat, the "fiscal cliff" of massive tax increases and budget cuts still looms at the end of the year. Then there is the euro zone opera with the fat lady singing in Greece, Spain and elsewhere.
  • China stimulus unnecessary, risks long-term damage
    China does not need massive fiscal stimulus to stabilize growth and calm investors fretting that the global economy may slip back into a similar crisis as 2008-2009, top policy advisers said on Wednesday.
  • EU calls for banking union, direct recapitalization of banks
    The euro zone should move to a banking union and consider directly recapitalizing banks from its permanent bailout fund, the European Commission said on Wednesday in annual economic recommendations that shone a critical light on Spain.
  • U.S. home prices rose in March
    Average home prices rose in March compared with February in most of the 20 cities in a Standard & Poor’s/Case Shiller survey out today – the first time in seven months there’s been a gain. This report adds to the growing evidence that the worst of the five-year housing slump appears to be over.
  • Apollo Real Estate head could change roles: Report
    The head of Apollo Global Management's real estate fund is talking to the firm's top management about changing his role, according to a report.
  • Public Real Estate Execs received record salaries in 2011
    Executives at public real estate companies received record high salaries in 2011, according to a report.
  • Six things buyers should consider before buying a home
    As home prices drop to its lowest level in six years and mortgage interest rates at record lows, purchasing a home may make a lot more sense than renting one.
  • In escape from Japan doomsday, capital takes flight
    Hiroshi Kosaka has an unorthodox pitch for his realty business: instead of pictures of swanky condominiums his website features Japanese debt statistics and budget meltdown scenarios usually left to credit rating agencies.
  • Bond prices firm on Spanish bank worries
    Government debt prices rose on Tuesday as worries about contagion over the deterioration of Spain's banking system stoked demand for bonds and other low-risk investments.
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