The homeowners of 2023 are the hidden face of foreclosure risk

The Pacific Park development, beleaguered by more than two decades of delays, missed deadlines and foreclosure, has a path forward after Cirrus Real Estate Partners and LCOR signed a memorandum of understanding with the state Tuesday, an Empire State Development spokesperson confirmed. ESD last month announced the developers’ $5 billion proposal for the next phase…

Crypto investors are being urged to ensure they have reported any capital gains to HMRC or face fines worth hundreds of pounds amid new transparency rules being introduced next year. Financial Conduct Authority (FCA) data suggests around 8% of UK adults, roughly 4.5 million people, now hold cryptocurrency such as Bitcoin. But commentators warn that…

As Wall Street’s biggest banks delivered blowout second-quarter results, Morgan Stanley played a leading role in taking SpaceX public during the quarter, sharing a $100 million underwriting fee with Goldman Sachs. Pick framed the macro environment in direct terms during a call with analysts: the AI boom and what he called “the return of geopolitics”…

Visa’s latest earnings call put two different versions of digital commerce on the same balance sheet. Version one: Consumers are still spending more on credit and debit cards. Version two: Consumers begin with AI agents and move through stablecoins, tokens and new money-movement channels. As for the card-based business, U.S. payments volume grew 10% year…

NEXA Lending boss Mike Kortas is now the sole owner of his company after settling a bad breakup with his co-founder.  Processing Content Kortas reached a global settlement with Mat Grella last month, according to an Arizona state court docket and a NEXA announcement Monday. The resolution ends litigation which arose following Grella’s exit from…

Processing Content Key insight: A long-time Illinois banker has been banned from the industry for approving mortgages based on faulty appraisals. Expert quote: Burns “ignored inconsistencies and irregularities in the appraisals that should have called into question their accuracy.” —Federal Reserve enforcement action. Forward look: The prohibition order against Burns is indefinite and can only…