European Real Estate Deals Slump to Lowest Level in 13 Years
The deep freeze that’s gripped Europe’s real estate markets since borrowing costs jumped worsened at the start of the year as deals plunged to their lowest levels since 2011.
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The deep freeze that’s gripped Europe’s real estate markets since borrowing costs jumped worsened at the start of the year as deals plunged to their lowest levels since 2011.
Investors are looking for the next policy domino to fall in Asia amid an escalating campaign against a resurgent dollar, after Indonesia used a surprise interest rate hike to defend the rupiah.
Vietnamese billionaire Pham Nhat Vuong pledged to invest at least another $1 billion of his personal wealth into VinFast Auto Ltd., providing the capital needed for expansion of the struggling electric vehicle maker.
Macrotech Developers Ltd., a real estate firm that operates under the brand name Lodha, expects pre-sales to grow about 20% in the year to March after reporting its highest ever quarterly revenue.
Distressed Indonesian property developer PT Agung Podomoro Land has hired financial advisory firm Kroll Inc. to advise on an exchange of $132 million of bonds due in June, according to people familiar with the plan.
Mar 14, 2017
By Noah Zivitz
Home Capital Group disclosed late Tuesday "several" of its past and present officers and directors have received enforcement notices from the Ontario Securities Commission.
The company previously announced on February 10th that it had received an enforcement notice from OSC staff stemming from disclosures in 2014 and 2015 about falsified mortgage loan applications and the eventual suspension of certain brokers as a result.
The alternative mortgage lender says the new enforcement notices targeting individuals are "relating to that disclosure and, in some instances, trades in the company's shares."
Home Capital added it believes its disclosures met all necessary requirements and noted the individuals can respond to the OSC before the regulator decides on its next steps.
Boyd Erman, a spokesperson for Home Capital at Longview Communications, declined to comment on the individuals named in the OSC's latest enforcement notices.
OSC spokesperson Kristen Rose declined to provide further details, noting the regulator will only identify a company or individual's identity if it proceeds with a formal statement of allegations.
Home Capital disclosed on July 29, 2015 that it had suspended 45 mortgage brokers after an investigation determined that income information was falsified on some loan applications. Home Capital said at the time that the brokers it cut ties with were responsible for $960.4 million in single-family mortgage originations in 2014.