Investments

The Los Angeles City Council joined Los Angeles County in trying to get California Gov. Jerry Brown to declare a state of emergency for the problem of homelessness.

Toll Brothers Inc., the biggest U.S. luxury homebuilder, rose the most in three years after reporting earnings and sales that beat estimates, a sign that buyer demand remains robust for high-end properties.

United Bankshares in Charleston, W.Va., has agreed to buy Cardinal Financial in Tysons Corner, Va.

The hole at the corner of 15th and L streets, in downtown Washington, is deep – and getting deeper.

Title insurer operating revenue will end 2016 flat to slightly down as a modest increase in interest rates should dampen purchase and refinance transactions, a report from Fitch Ratings said.

Mayor Bill de Blasio on Thursday nominated Eric Enderlin to be president of the New York City Housing Development Corp., the city's housing finance arm and a major player in de Blasio's affordable housing initiative.

New Residential Investment Corp. has priced a public common stock offering whose proceeds will be used to acquire mortgage servicing rights from Walter Investment Management Corp.

PHH Corp. said Merrill Lynch plans to bring more of its origination activity back in house and that could hurt pretax earnings by $13 million in the second half of the year.

Farmer Mac posted lower net income than during the second quarter of 2015 on a loss on financial derivatives and hedging activities.

Walter Investment Management Corp. lost $232.4 million in the second quarter as the company took $216 million in charges related to its mortgage servicing portfolio.