Tag Archives: Investors

Graystone Mortgage and Appraisal Logistics have announced the continuation of their standing partnership. Currently, Appraisal Logistics facilitates compliance and risk management for Graystone.

Former Fannie Mae CEO Daniel Mudd resigned from his role as CEO of Fortress Investment Group Wednesday amid ongoing controversy related to a Securities and Exchange Commission suit. The company announced his resignation in a statement, not long after Mudd had decided to take a leave of absence from his role.

Members of the Federal Open Market Committee decided Wednesday to keep interest rates between 0 percent and .25 percent until 2014, even while the economy steadily improves. All but one of the Fed├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós governors voted to extend the policy enacted last fall for another two years, where originally the central bank had determined to delay higher interest rates until 2013. The Fed said that it made the decision in lieu of evidence from December that showed unemployment remaining steady. Experts disagree over whether low interest rates will help the market.

President Barack Obama used his State of the Union address Wednesday to tout his accomplishments and propose several new housing ventures, including possible expansions to refinance programs, consumer financial protection, and new federal initiatives to combat abusive lending practices. The speech weighed in on risky lending practices in particular and went after Republicans for their opposition to his policies, including consumer financial protection. Experts remain on the sidelines about an expanded refinance program.

The uptick in existing home sales to end 2011 is, obviously, a positive industry trend, and a new study released by BMO Economics and Harris Private Bank indicates that the sales pace is likely to continue upward.

Avison Young is bolstering the leadership for its West Coast brokerage operations with the announcement that Martin McDermott will join the company's West Los Angeles office. McDermott, a commercial real estate broker, will focus on office and retail property transactions in his new role for Avison Young.

After falling to new lows last week, interest rates for 30-year fixed-rate mortgages climbed to 3.82 percent, real estate Web site Zillow said Tuesday. The Web site polled anonymous quotes from online users to release the latest Zillow Mortgage Marketplace, which it offers weekly. While the 30-year loan averaged 3.8 percent, the 15-year fixed-rate mortgage hovered around 3.12 percent. Mortgage rates have remained near all-time lows as investors continue to flee from European markets, which remain afflicted by concerns over their debt crises.

Zillow is making it easier for home shoppers to gain information about the homes they are interested in purchasing with the launch of its Neighborhood Advice tool. The popular website will allow potential home buyers to learn more about the neighborhood they are targeting via social media outlet, Facebook.

Illinois received an unexpected gift during December - rising home sales. Crediting the unseasonably mild weather, low mortgage interest rates, and attractive market pricing, the state recorded its sixth consecutive month of increasing numbers of homes sold. According to the recent report released by the Illinois Association of Realtors, the total number of homes sales during December was up 14 percent year-over-year. Overall, data from Illinois showed 8,828 homes sold for the month, off of 7,746 sold during December 2010.

Continuing its sell off, First Niagara Bank has announced its intention to liquidate another 27 branches. The move is part of the company's transition following its acquisition of HSBC Bank's regional retail business in New York and Connecticut.