Investments

Stanford Kurland will step down from his role as CEO of PennyMac Financial Services and its affiliate PennyMac Mortgage Investment Trust and assume the role of executive chairman of both as part of a broader executive reorganization.

Fidelity National Financial plans to distribute the stock it owns in Black Knight Financial Services to its shareholders as part of a plan to simplify the corporate structure of the two companies and increase Black Knight's liquidity.

Fannie Mae joined Freddie Mac in announcing plans to delist some previously issued Connecticut Avenue Securities, which transfer the credit risk on residential mortgages, from the Irish Stock Exchange.

San Francisco has completed the transfer of ownership of its public housing sites from the San Francisco Housing Authority to community-based affordable housing teams, part of a long-term bond-financed initiative begun in 2013.

Fannie Mae's new representation and warranty relief offers lenders a long-awaited incentive to use its automated loan validation technology. But is it enough for lenders to make the necessary technology updates and process changes to implement the tools?

A third securitization of single-family rental properties by Colony American Finance is also the smallest to date for the REIT-affiliated lender.

Deutsche Bank jumped in Frankfurt trading after a media report that the lender is nearing a $5.4 billion settlement with the U.S. Department of Justice in a probe tied to residential mortgage-backed securities, less than half an initial request.

The New York City Housing Development Corp. board approved the appointment of Eric Enderlin as president.

Arch Capital Group has planned a secondary public offering to raise some of the cash for its $3.4 billion acquisition of United Guaranty Corp. from American International Group.

Impac Mortgage Holdings has released the pricing of an upcoming follow-on stock offering.

Renovate America is marketing a $320.2 million securitization of Property Assessed Clean Energy bonds, its third of the year and eighth overall.

The first reboot of S&P 500 Index group weights in almost two decades has arrived, shaking up stock portfolios and conjuring an industry out of real estate investment trusts that will infuse at least one lightweight ETF with sudden riches.

Colony Starwood Homes has sold a portfolio of 1,675 nonperforming loans, as it winds down its business in the space.

In just a few years, a popular mall with high-end anchor stores and boutique retail tenants can fall into substandard property condition, leaving commercial mortgage bond investors with outsized losses on their exposure to these properties.

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.