Jones Lang LaSalle, an international property services firm headquartered in Chicago and London, has been labeled the "Bull of the Day" by Zacks Equity Research, Chicago.Zacks said JLL "again handily surpassed our estimates" by $0.36 per share in the third quarter, chiefly as a result of higher-than-expected revenues. "Given the growing demand for commercial real estate services and transactional increases, we expect the company to continue driving revenues at a healthy pace," the research firm said. ".... There has been a sector-wide sell-off over the past three months, and JLL is very attractively valued relative to its long-term growth prospects." The companies can be found online at http://www.zacks.com and http://www.joneslanglasalle.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.
April 24