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...Hunterbrook Media launched on Tuesday with a report that alleged United Wholesale Mortgage had been unfairly incentivising independent mortgage brokers to funnel almost all of their business to the biggest...
...All three senators are from states where the United Steelworkers union has a large presence....
...Equity swaps are financial instruments that allow investors to gain exposure to a stock. They are commonly used by hedge funds to build positions in companies and are typically facilitated by big banks....
...Financial structures were changed to allow money to flow into the industry....
...Elliott has a long record of distressed debt investing, it is best known in the UK for its activist equity bets, including pushing for change at pharmaceuticals group GSK and more recently at Scottish Mortgage...
...Rival UWM, the parent company of United Wholesale Mortgage, has gained 43 per cent. Mortgage lending is a feast or famine business. The market takes the view that the interest cycle has peaked....
...For example, their methodology points to more supply constraints in the United States than in the United Kingdom. This feels odd. And most markets don’t screen as overvalued....
...The answer matters because the financial system is currently beset by a tottering pile of cheap CRE loans....
...Yet when President Joe Biden visited on Wednesday, his only stop was to the headquarters of the United Steelworkers....
...Lenders have taken a hit to margins as they lowered lending rates, including reductions on outstanding mortgage rates....
...“High mortgage rates are creating a real void for people who don’t have the strong finances that are required to buy in cash,” she said in an interview with the Financial Times....
...Also in the group is Manuel Sánchez Rodriguez, a former top executive at Spanish bank BBVA and a board member, since 2018, of the US government-backed mortgage insurance company Fannie Mae....
...The Brooklyn housing market was cooled last year by high mortgage rates....
...When I chaired the FDIC during the financial crisis, we sold the failed the mortgage lender Washington Mutual to JPMorgan. It was our only bidder and was prepared to take over WaMu immediately....
...“We worked tirelessly with counsel, the SEC and others over two and a half years to close the most attractive deal that was available,” he told the Financial Times....
...The airline industry is largely united in opposition to the rule....
...In 2014, for example, mortgage lender Capital One valued it at $257mn but Trump pegged it at $550mn on his annual financial statement....
...Mnuchin and Joseph Otting, the former regulator who has taken over as NYCB chief executive, have a history of rebuilding troubled lenders: they bought failed mortgage lender IndyMac from the FDIC in 2008...
...In a Tuesday note about the CPI report, GS’s Jan Hatzius wrote that the surprising strength in owners’ equivalent rent could signal the housing market is rebounding now that mortgage rates are lower: ....
...Better competes with companies such as Rocket Mortgage that have capitalised on the pullback by banks from mortgage lending because of regulations imposed after the 2008 financial crisis....
...Workers United responded with its own court filing, alleging Starbucks defamed it by implying that the union supports terrorism and violence....
...Former Manchester United captain Gary Neville has joined the advisory firm Consello Group....
...The Financial Times reported that those allegations were related to sexual harassment but the probe did not find evidence supporting the original whistleblower’s claims....
...US Steel’s shares fell more than 12 per cent after the Financial Times published details of Biden’s intentions....
...On Tuesday, the fund said it was “short [United Wholesale Mortgage], long [Rocket Mortgage], and purchased derivatives”....
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