Windrose Medical Properties Trust will replace Catellus Development Corp. in the S&P REIT Composite Index after the close of trading Sept. 14, Standard & Poor's has announced.S&P said the reason for the change is that Catellus is being acquired by ProLogis, another constituent of the index. Windrose is an Indianapolis-based real estate investment trust that focuses on specialty medical properties.
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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.
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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.
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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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