Real estate

Chief Executive Officer Georges Elhedery was aiming for $1.5 billion in annual cost savings, but HSBC is forecasting hundreds of millions in extra real estate costs as it considers asking more of its employees to work from an office.

Offices, apartment buildings and retail locations in Los Angeles face a tangle of difficulties as the smoke clears from January's wildfires. High on the list is inadequate insurance, a common problem in California.

The Florida bank is jumping on the strategy for general corporate purposes and a potential sale of its underwater bond portfolio.

The beleaguered bank said it is selling 74 loans totaling about $2.6 billion to a subsidiary of Kennedy-Wilson Holdings. The move is part of a plan to pursue strategic asset sales, trim expenses and shore up its balance sheet.

The bank's noninterest expenses fell by 8% in the second quarter — a sign that CEO Charlie Scharf is making progress in reining in spending that had been soaring in recent years amid heightened regulatory scrutiny. He ultimately hopes to reduce gross expenditures by $8 billion annually.

In the first episode of the five-part Arizent documentary series, we look at how disparities in net worth and mortgage discrimination impact Black home ownership — and why it's impossible to close the gaps without attacking systemic racism.

In the first episode of the five-part documentary series, we look at how disparities in net worth and mortgage discrimination impact Black home ownership — and why it's impossible to close the gaps without attacking systemic racism.

This five-part series is a comprehensive effort to explain the racial discrimination Black Americans face in our financial system.

The Minneapolis company says the majority of branches earmarked for closing have already been shuttered for months due to the pandemic. Some of the savings will be plowed back into digital expansion.

The Detroit lender disclosed that the consumer bureau had sent a civil investigative demand to Rocket Homes Real Estate for potential violations of the Real Estate Settlement Procedures Act.

A unit of the Huntsville, Ala.-based institution has acquired Ben Porter Realty and rebranded the company as Redstone Family Realty.

The S&P CoreLogic Case-Shiller home price index hasn't yet reflected the impact of the coronavirus, but an independent market maker has some thoughts on how it might.

After maintaining a $250,000 exemption threshold for real estate appraisals for nearly 20 years, the National Credit Union Administration is set to raise that limit to $400,000.

Home prices have more than recovered since the recession, but higher-than-ever medical and student debt is robbing many homeowners from realizing the benefits, while keeping others away from the market, according to Zillow.

The three federal banking agencies moved to raise the threshold for residential transactions that require an appraisal from $250,000 to $400,000.

Blooma has developed a software product that combs databases to create property profiles for commercial real estate lenders. It can drastically cut origination costs and approval times and help banks identify safer loans, the company says.

Congress extended the National Flood Insurance Program through June 14, preventing the federal initiative from expiring on Saturday.

The New York bank says it acted appropriately in withholding the collateral on a loan to a developer that First Foundation Bank later refinanced. First Foundation’s CEO begs to differ.

Provenance Blockchain, recently spun off from Mike Cagney's Figure Technologies, says it can help lenders trim 70% of mortgage settlement expenses through speedier processing and paperwork reduction.

Some institutions have benefited from revitalization in the Motor City but just as consumers fled for the suburbs decades ago, most CUs in the area are headquartered outside the city itself.