Pulte Homes Inc., a builder based in Bloomfield Hills, Mich., has sold its Argentina operations to Grupo Farallon SA, an Argentine company involved in residential and commercial real estate development.The Michigan-based builder said it will record an after-tax charge of $25 million to $30 million as a result of the sale. "The fourth-quarter charge includes the accounting recognition of the economic losses related to accumulated foreign currency translation adjustments, which have previously been reported in our consolidated balance sheets, as well as other losses associated with exiting Argentina," said Roger A. Clegg, executive vice president and chief financial officer at Pulte.
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Ohio-based Liberty Home Mortgage joins several companies who started using a more modernized FICO credit score for nonconforming mortgage originations recently.
6h ago -
The CFPB has dissolved the Office of Supervision, Enforcement and Fair Lending and eliminated the job of associate director in a move that impacts how it designates nonbanks for supervision.
7h ago -
The plan that the Federal Housing Finance Agency floated calls for Freddie Mac to actively invest in some new closed-end seconds as cash-out refinancing subsides.
10h ago -
The push comes amid what one expert highlighted as lax funding efforts for two Department of Housing and Urban Development grant programs.
April 17 -
Conventional lending drove volumes higher, particularly in the purchase market, the Mortgage Bankers Association said.
April 17 -
Net charge-offs at the Charlotte, North Carolina-based bank increased by more than 80% in the first quarter compared with a year earlier. BofA executives say that the rising losses were in line with the bank's risk appetite.
April 16