Wednesday, January 17, 2018

Bank of America net income drops nearly 50% after tax reform

Bank of America reported its net income dropped in the final quarter of 2017 due to expenses from tax reform, however without these expenses, its earnings surged 17%. The bank’s CEO said the company had a positive year, claiming, “We invested in technology, client engagement, and in our own team, including the $1,000 bonus we announced last month for 145,000 employees.”

Bank of America net income drops nearly 50% after tax reform

Bank of America reported its net income dropped in the final quarter of 2017 due to expenses from tax reform, however without these expenses, its earnings surged 17%. The bank’s CEO said the company had a positive year, claiming, “We invested in technology, client engagement, and in our own team, including the $1,000 bonus we announced last month for 145,000 employees.”

Former Treasury official David Dworkin joins National Housing Conference as CEO

The National Housing Conference, a nonprofit fair housing advocate, announced this week it hired David Dworkin to serve as the organization’s new president and CEO. Dworkin comes to NHC from the Department of the Treasury, where he most recently served as a senior housing policy advisor in the Office of Domestic Finance.

Fannie Mae wants affordable housing developers to focus on resident wellbeing

Last year, Fannie Mae launched a program designed to increase the development of healthy living options for residents of affordable, multifamily rental properties. Now, Fannie Mae is rolling out a new feature of the program that aims to encourage developers to focus more on the health and wellbeing of their residents by offering a lower borrowing rate.

Builder confidence falls at start of new year

Builder confidence declined slightly at the start of 2018, according to the National Association of Home Builders and Wells Fargo Housing Market Index. However, NAHB explained that builders continue to remain confident that recently passed tax reform will promote economic growth.

Situs completes acquisition of MountainView Financial Solutions

Situs, a provider of strategic business and technology solutions to the real estate industry, announced Wednesday that the company completed its acquisition of MountainView Financial Solutions. The deal was first announced earlier this month.

MBA: Mortgage apps continue increasing

Mortgage applications increased 4.1% from last week, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey. And as apps continued to increase, mortgage rates continue to increase their highest point in months or even years.