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Stock Market & Financial Investment News

News Breaks
July 1, 2014
08:15 EDTHMST, STIHomeStreet closes deal to sell mortgage servicing rights to SunTrust
HomeStreet (HMST), the parent company of HomeStreet Bank, announced that the Bank has executed and closed a definitive agreement selling a portion of its single family mortgage servicing rights portfolio to SunTrust Mortgage (STI). The transaction closed on June 30, and provides for the sale of the rights to service approximately $3B in total unpaid principal balance of single family mortgage loans serviced for Fannie Mae, which represents about 25% of HomeStreet’s total single family mortgage loans serviced for others portfolio as of March 31. The sale is expected to result in an increase of approximately $5.4M in mortgage servicing income for the quarter ending June 30, HomeStreet said. The physical transfer of servicing from the Bank to SunTrust is scheduled for October 1, and is subject to customary conditions. HomeStreet will continue to service the loans between the closing date and the final transfer date. “The sale of this portfolio of mortgage servicing rights is part of our ongoing balance sheet and capital management as well as in preparation for the January 1, 2015 effective date of the new Basel III-based regulatory capital standards,” said HomeStreet CEO Mark Mason.
News For HMST;STI From The Last 14 Days
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May 20, 2015
10:00 EDTSTIOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Achillion (ACHN) downgraded on valuation at JMP Securities... Ashland (ASH) downgraded to Equal-Weight from Overweight at First Analysis... Bank of Nova Scotia (BNS) downgraded to Underperform from Neutral at BofA/Merrill... Braskem (BAK) downgraded to Neutral from Overweight at JPMorgan... Comerica (CMA) downgraded to Underperform at Baird... Crestwood Midstream (CMLP) downgraded to Neutral from Buy at Ladenburg... Fifth Third (FITB) downgraded to Neutral from Outperform at Baird... Keurig Green Mountain (GMCR) downgraded to Hold from Buy at Argus... Keysight Technologies (KEYS) downgraded to Neutral from Outperform at Baird... Leju (LEJU) downgraded to Underperform from Buy at CLSA... Marrone Bio (MBII) downgraded to Hold from Buy at Jefferies... Southwest (LUV) downgraded to Neutral from Buy at Buckingham... SunTrust (STI) downgraded to Market Perform from Outperform at Keefe Bruyette... Western Alliance (WAL) downgraded to Market Perform from Outperform at Keefe Bruyette.
06:42 EDTSTISunTrust downgraded on valuation at Baird
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05:42 EDTSTISunTrust downgraded to Market Perform from Outperform at Keefe Bruyette
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