United States

New rules in Mexico may limit cash payments for real estate

CNBC | Mar 23, 2019 at 10:34 AM
  • Mexico is developing rules that would cap the amount of cash that can used to buy real estate, Finance Minister Carlos Urzua said on Friday, part of a push to reduce the use of physical currency in a country rife with money laundering and corruption.
  • Nearly 57 percent of people in Mexico work off the books.
  • President Andres Manuel Lopez Obrador, who took office in December, has made it one of his priorities to draw more people into the formal economy and reduce cash in circulation to cut down on the laundering of proceeds from the drug trade and other illicit activities.

United States

With L&T-Mindtree saga playing out, here’s a look at white knights of India Inc

Money Control | Mar 23, 2019 at 9:32 AM
  • The controversy surrounding L&T’s bid to acquire Mindtree has put the spotlight on the topic of hostile takeovers.
  • -In 2000, promoters of real estate company Gesco Corporation were facing a hostile bid by Delhi-based Abhishek Dalmia’s Renaissance Estates.
  • Cigarette company ITC stepped in as the white knight and gave a counter-offer of Rs 115 per share that went up to Rs 126 per share later.

Singapore

Australia’s property stocks are ignoring the housing slump

The Business Times | Mar 23, 2019 at 12:00 AM
  • AUSTRALIAN property stocks are proving largely immune to the worst housing slump in a generation, rallying to the highest in almost three years.
  • The last time real estate shares were higher, Australia’s housing prices were climbing after the Reserve Bank of Australia cut borrowing costs to record lows in 2016, fuelling demand for property.
  • Stockland, a diversified real estate group that develops residential and retirement communities, set its earnings guidance at the low end of its target range this year, citing weak housing conditions.

Belgium

Robert Mueller’s Russia investigation is officially complete

Politico (EU) | Mar 22, 2019 at 10:22 PM
  • Special counsel Robert Mueller has concluded his investigation into whether the Trump campaign colluded with Russia during the 2016 election.
  • A few months later, Trump’s former national security adviser, Michael Flynn, pleaded guilty to lying to the FBI about conversations he had with Russian Ambassador Sergey Kislyak.
  • The special counsel also has nabbed guilty pleas from former Trump campaign staffer George Papadopoulos for lying to the FBI about his election-year knowledge of Russian election meddling efforts, and longtime Trump personal attorney Michael Cohen for misleading Congress about his efforts during the 2016 election to build a Trump Tower in Moscow.

United States

Robert Mueller’s Russia investigation is officially complete

Politico (USA) | Mar 22, 2019 at 5:05 PM
  • Special counsel Robert Mueller has concluded his investigation into whether the Trump campaign colluded with Russia during the 2016 election — marking the end of a probe that has gripped the nation for two years and loomed over Donald Trump’s entire presidency.
  • A few months later, Trump’s former national security adviser, Michael Flynn, pleaded guilty to lying to the FBI about conversations he had with Russian Ambassador Sergey Kislyak.
  • The special counsel also has nabbed guilty pleas from former Trump campaign staffer George Papadopoulos for lying to the FBI about his election-year knowledge of Russian election meddling efforts, and longtime Trump personal attorney Michael Cohen for misleading Congress about his efforts during the 2016 election to build a Trump Tower in Moscow.

United States

Deed of Release: When and Why You Want One

Investopedia | Mar 22, 2019 at 3:00 PM
  • A deed of release is a legal document that removes a previous claim on an asset.
  • The deed of release is typically created by the lending institution’s legal counsel when the loan has been satisfied.
  • The deed of release can include the terms of the severance, including payment and the length of time payments will last following the release.

United States

Balloon Payments—What They Are, How They Work, and Can You Afford One?

Investopedia | Mar 22, 2019 at 2:35 PM
  • A balloon payment is a large payment due at the end of a balloon loan, such as a mortgage, a commercial loan, or another type of amortized loan.
  • The remaining balance is due as a final payment at the end of the term.
  • Some lenders have historically worked around this with balloon mortgages because most consumers have limited ability to make major balloon payments.

United States

Commercial Mortgage-Backed Securities (CMBS)—Definition and How They Work

Investopedia | Mar 22, 2019 at 10:41 AM
  • Commercial mortgage-backed securities (CMBS) are secured by mortgages on commercial properties rather than residential real estate.
  • Tranches are typically ranked from senior–or highest quality—to lower quality.
  • It’s difficult to find mutual funds or exchange-traded funds that solely invest in the asset class, although many real estate mutual funds invest a portion of their portfolio into CMBS.