Standard & Poor's has announced that Vornado Realty Trust, a New York-based real estate investment trust, will replace SunGard Data Systems Inc. in its benchmark S&P 500 Index after the close of trading on a date to be announced.The reason for the change is that SunGard is being bought out by a private equity consortium. Vornado owns a diverse group of properties, including retail properties in the Northeast and office buildings in New York City, as well as interests in Alexander's Inc. and a cold-storage company, S&P said. S&P can be found on the Web at http://www.standardandpoors.com.
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Issuances of new HECM-backed securities dropped off in June on both a monthly and yearly basis, according to a new report from New View Advisors.
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The vote to approve the $12 per share deal, which rejected a hostile bid from UWM Holdings, came following several postponements of a special meeting.
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A mortgage customer claims his data was compromised in a hack last year at a tax and accounting firm reportedly used by the wholesale giant.
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The government-sponsored enterprise clamped down on project review requirements and certain factory-built home appraisals while loosening other guidelines.
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The June jobs report is creating an overhang on economist forecasts for interest rates going forward, especially when combined with recent inflation data.
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The Bureau of Labor Statistics report showed the labor force continued to expand but at a weaker rate than in recent months. The development weakens the case for a near-term rate hike.
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