Medical Properties Trust Inc., a real estate investment trust based in Birmingham, Ala., will replace Open Solutions Inc. in the S&P SmallCap 600 Index after the close of trading on a date to be announced, according to Standard & Poor's.S&P said the reason for the change is that Open Solutions is being acquired by The Carlyle Group and Providence Equity Partners. Medical Properties acquires, develops, and makes investments in health care facilities. S&P can be found online at http://www.standardandpoors.com, and the REIT can be found at http://www.medicalpropertiestrust.com.
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The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
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The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
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Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
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A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
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The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
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The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
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