Cornerstone Realty Income Trust, Richmond, Va., is being replaced by American Land Lease, Clearwater, Fla., in the S&P REIT composite index, Standard & Poor's reported.The change will be effective after the close of trading on April 1. Cornerstone Realty, a multifamily real estate investment trust, is being acquired by Colonial Properties Trust, another S&P REIT Composite company, and this is what brings about the change, according to S&P. American Land Lease has interests in the manufactured housing arena.
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Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
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Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
33m ago -
While home lenders are seeing a decrease in issues coming through mobile channels, phone fraud spiked last year, accounting for 28% of losses, a new report found.
2h ago -
The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
April 24 -
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
April 24 -
Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
April 24