Bruce Karatz, former CEO of KB Home (KBH), was fined $1 million and given five years of probation for hiding backdated stock options from auditors and regulators.
Karatz will face no jail time but will serve eight months of home detention with electr…
Foreclosures eased slightly in October, falling 4% from the previous month. According to foreclosure tracking firm RealtyTrac, the decrease most likely stemmed from the “robo-signing” controversy which halted foreclosures acros…
Depositions by three employees of Nationwide Title Clearing describe a factory-like process that’s awful to look at. But Nationwide defends the system as being benign as sausage-making — and that it’s standard industry practic…
Demand for mortgage loans rose last week, driven by low interest rates.
The Mortgage Bankers Association said its Market Composite Index rose 5.8% on a seasonally adjusted basis from a week earlier. The index measures the volume of applications for loans. Demand for loans for new homes gained 5.5%, while the number of applications for loans to refinance rose 6%.
“The increases in…
Continue reading Mortgage Applications Rise, Thanks to Low Interest Rates
Mortgage Applications Rise, Thanks to Low Interest Rates originally appeared on DailyFinance on Wed, 10 Nov 2010 08:21:00.
Filed Under: Economy, Real Estate, Credit
General Growth Properties (GGP), the country’s second-largest mall owner, emerged from bankruptcy and split itself into two companies.
The company spun off Howard Hughes Corp, an owner of properties including master-planned communities, Bloomberg News said.
Shares in Howard Hughes will begin trading tomorrow on the New York Stock Exchange, as will shares in the new General Growth….
Continue reading General Growth Leaves Bankruptcy, Splits in Two
General Growth Leaves Bankruptcy, Splits in Two originally appeared on DailyFinance on Wed, 10 Nov 2010 07:32:00.
Filed Under: Company News, Real Estate, NYSE, Stocks in the News