KB Home, a Los Angeles-based builder, has agreed to sell its entire 49% equity interest in its French subsidiary to a European private equity firm, PAI partners.PAI also plans to purchase additional shares from Guy Nafilyan, chairman and chief executive officer of the Paris-based Kaufman & Broad SA, which PAI says will give it at least 50.1% of the French builder's share capital and voting rights on a fully diluted basis. PAI plans to purchase from KB Home a 10,921,954-share stake in Kaufman & Broad at 55 euros (about $73.81) per share in cash after payment of a cash dividend by KBSA of 4.83 euros (about $6.49) is deducted. The deal is slated to close during KB Home's third fiscal quarter, subject to required approvals.
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In an interview, Candor Technology's Sara Knochel recounts how she applies her childhood interest in languages and numbers to crucial home lending issues.
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Harmonizing standards for liquidity coverage ratios and discount window pledges could prevent the type of strains that led to last year's bank failures, according to a new paper whose authors include former Federal Reserve Govs. Dan Tarullo and Jeremy Stein.
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The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
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The lender accused its former leader of compromising its Fannie Mae seller/servicer number to prevent it from delivering loans.
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Equity is entitled to a little over $70,000 worth of damages.
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Audited financials, proof of fidelity bonds and errors and omissions insurance must be provided on Ginnie Mae Central after May 13.
March 27