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Editorial Results (free)

1. Homebuilder Sentiment Slips in December -

U.S. homebuilders are feeling slightly less confident in their sales prospects heading into next year, even as their overall sales outlook remains favorable.

The National Association of Home Builders/Wells Fargo builder sentiment index released Monday slipped this month to 57, down one point from 58 in November.

2. US Homebuilder Sentiment Slips in December -

U.S. homebuilders are feeling slightly less confident in their sales prospects heading into next year, even as their overall sales outlook remains favorable.

The National Association of Home Builders/Wells Fargo builder sentiment index released Monday slipped this month to 57, down one point from 58 in November.

3. Fed Proposing Big US Banks Boost Capital Buffers -

WASHINGTON (AP) – Federal regulators are proposing that the eight biggest U.S. banks be required to further increase the amount of capital they set aside to cushion against unexpected losses.

4. 321,000 Jobs Added in November, Most in Nearly 3 Years -

WASHINGTON (AP) – A burst of U.S. hiring in November – the most in nearly three years – added 321,000 jobs and provided the latest evidence that the United States is outperforming other economies throughout the developed world.

5. US Home Sales Rise in October -

WASHINGTON (AP) – Americans bought homes in October at the briskest pace this year, a sign that the sluggish housing market is turning around.

Sales of existing homes rose 1.5 percent to a seasonally adjusted annual rate of 5.26 million last month, the National Association of Realtors said Thursday. That's up from a revised pace of 5.18 million in September. October marked the first month in 2014 when sales increased compared to a year ago, registering a 2.5 percent gain.

6. US Homebuilder Sentiment Rallies in November -

WASHINGTON (AP) – U.S. homebuilders' confidence rebounded in November as both sales expectations and buyer traffic improved.

The National Association of Home Builders/Wells Fargo index rose to 58 this month, up from 54 in October. That puts the index just short of September's reading of 59, which was the highest level since November 2005, shortly before the housing bubble burst.

7. Commercial Sales Rise in Third Quarter -

Commercial sales were up in the third quarter when compared to the same period last year, according to real estate information company Chandler Reports, www.chandlerreports.com.

8. RISE Foundation Adds New Board Members -

The RISE Foundation, a nonprofit that uses financial literacy to help improve the lives of low-income Memphis residents, has added five new members to its board of directors.

The new members are Crystal Oliver, managing director in human resources at FedEx; Jerry Corless, managing partner at MidSouth Financial Group/MassMutual; Brian Woods, finance director at Nike; Paul Blanchard, vice president, supply chain, industrial packaging at International Paper; and Teresa Morris, Memphis district manager at Wells Fargo Bank.

9. RISE Foundation Adds New Board Members -

The RISE Foundation, a nonprofit that uses financial literacy to help improve the lives of low-income Memphis residents, has added five new members to its board of directors.

The new members are Crystal Oliver, managing director in human resources at FedEx; Jerry Corless, managing partner at MidSouth Financial Group/MassMutual; Brian Woods, finance director at Nike; Paul Blanchard, vice president, supply chain, industrial packaging at International Paper; and Teresa Morris, Memphis district manager at Wells Fargo Bank.

10. Out-of-Patience Investors Sell Off Amazon -

NEW YORK (AP) — Amazon has long acted like an ideal customer on its own website: a freewheeling big spender with no worries about balancing a checkbook. Investors confident in founder and CEO Jeff Bezos' invest-and-expand strategy flooded into the stock as the company revolutionized shopping, upended the book industry and took on the cloud — even though its vast range of initiatives ate up all the company's profits.

11. Confidence Among US Homebuilders Slips in October -

WASHINGTON (AP) – U.S. homebuilders' confidence fell in October after four months of gains which had pushed the indicator to the highest point in nine years.

The National Association of Home Builders/Wells Fargo said Thursday that its index dropped to a reading of 54 after climbing to 59 in September, the highest level since November 2005, right before the housing bubble burst.

12. US Existing Home Sales Fall in August -

WASHINGTON (AP) – Fewer Americans bought homes in August, as investors retreated from real estate and first-time buyers remained scarce.

Sales of existing homes fell 1.8 percent to a seasonally adjusted annual rate of 5.05 million, the National Association of Realtors said Monday. That snaps a four-month streak of gains. August sales are down from a July rate of 5.14 million, a figure that was revised slightly downward.

13. Homebuilder Confidence Soars in September -

U.S. homebuilders' confidence in the market for new, single-family homes surged this month to the highest level in nearly nine years.

The brighter outlook reflects growing optimism that sales will increase over the next six months. That could potentially spur growth in home construction, a key driver of the economy.

14. Volatile Apartment Sector Reduces US Home Building -

WASHINGTON (AP) – U.S. home construction plunged in August, led by steep decline in the volatile apartment category. But single-family house construction, a larger and more stable portion of the market, fell only modestly.

15. US Homebuilder Confidence Soars in September -

U.S. homebuilders' confidence in the market for new, single-family homes surged this month to the highest level in nearly nine years.

The brighter outlook reflects growing optimism that sales will increase over the next six months. That could potentially spur growth in home construction, a key driver of the economy.

16. US Job Openings Near 13-Year High -

The number of U.S. job openings remained near the highest level in 13 years in July, and companies also stepped up hiring that month to the fastest pace in nearly seven years, two signs the job market is slowly healing.

17. US Job Openings Near 13-Year High -

The number of U.S. job openings remained near the highest level in 13 years in July, and companies also stepped up hiring that month to the fastest pace in nearly seven years, two signs the job market is slowly healing.

18. Regulators Set Rules Meant to Ward Off Bank Crisis -

WASHINGTON (AP) – Federal regulators are set to require big banks to keep enough high-quality assets on hand to survive during a severe downturn, the latest move under congressional mandate to lessen the likelihood of another financial meltdown.

19. Macon Homes Complex Sells for $800,000 -

500 N. Claybrook St.
Memphis, TN 38104
Sale Amount: $800,000

Sale Date: Aug. 20, 2014
Buyer: Crosstown Macon Homes LLC
Seller: Macon Homes
Details: The 24-unit Macon Homes section 8 apartment complex at 500 N. Claybrook St. in Midtown has sold for $800,000.

20. Yellen: Job Market Makes Fed Hesitant on Rate Hike -

JACKSON HOLE, Wyoming (AP) – Federal Reserve Chair Janet Yellen said Friday that the Great Recession complicated the Fed's ability to assess the U.S. job market and made it harder to determine when to adjust interest rates.

21. US Home Construction Jumps 15.7 Percent in July -

WASHINGTON (AP) – U.S. home construction rebounded in July, rising to the fastest pace in eight months and offering hope that housing has regained momentum after two months of declines.

22. Homebuilder Confidence Rises Again in August -

U.S. homebuilders are feeling more confident in their sales prospects headed into next year, a sign that home construction and sales of newly built homes may pick up after stalling this summer.

The National Association of Home Builders/Wells Fargo builder sentiment index released Monday rose this month to 55, up two points from a revised reading of 53 in July.

23. New Owner Files Loan on East Memphis Building -

The new owner of the 130,593-square-foot office building at 6060 Primacy Parkway in East Memphis has filed an $8.8 million loan on the property.

24. As US Job Market Strengthens, Many Don't Feel It -

WASHINGTON (AP) — For millions of workers, happy days aren't quite here again.

Though the U.S. unemployment rate has plunged since the start of last year to a five-year low of 6.1 percent, the Gallup Organization has found that consumers' view of the economy is the glummest it's been in seven months.

25. Study: 35 Percent in US Face Debt Collectors -

WASHINGTON (AP) — More than 35 percent of Americans have debts and unpaid bills that have been reported to collection agencies, according to a study released Tuesday by the Urban Institute.

26. Malone Center Owner Files $4.1 Million Loan -

The owner of the 23.7-acre Malone Distribution Center near the intersection of East Raines Road and Lamar Avenue in Oakhaven has filed a $4.1 million loan on the industrial property.

Cobalt Industrial REIT II filed the deed of trust with absolute assignment of leases and rents, security agreement and fixture filing July 1 through Wells Fargo Bank NA. The deed encompasses parcels at 4366 Malone Road, 4406 Malone and 4436 Malone.

27. Average US 30-Year Mortgage Rate at 4.17 Percent -

WASHINGTON (AP) – Average U.S. rates on fixed mortgages eased slightly this week, remaining near historic lows.

Mortgage buyer Freddie Mac said Thursday the average rate for a 30-year loan declined to 4.17 percent from 4.20 percent last week. The average for the 15-year mortgage dipped to 3.30 percent from 3.31 percent.

28. US Home Building Declined 6.5 Percent in May -

WASHINGTON (AP) – The pace of U.S home construction slipped in May with many Americans still struggling to afford new houses.

Builders started work at a seasonally adjusted annual rate on 1.01 million homes last month, the Commerce Department said Tuesday. That was down 6.5 percent from 1.07 million in April.

29. US Employers Add 217,000 Jobs; Rate Stays at 6.3 Percent -

WASHINGTON (AP) – U.S. employers added 217,000 jobs in May, a substantial gain for a fourth straight month, fueling hopes that the economy will accelerate after a grim start to the year.

30. US Bank Earnings Decline 7.7 Percent in First Quarter -

WASHINGTON (AP) – U.S. banks' earnings declined 7.7 percent in the January-March quarter from a year earlier, as higher interest rates dampened demand for mortgage refinancing and reduced banks' revenue from the mortgage business.

31. Ridge Lake Building Sold After Foreclosure -

756 Ridge Lake Blvd.
Memphis, TN 38120
Sale Amount: $2.9 million

Sale Date: May 8, 2014
Buyer: Life Insurance Co. of the Southwest
Seller: Brooks R. Smith, successor trustee
Details: The 38,472-square-foot Ridge Lake Office Building at 756 Ridge Lake Blvd. in East Memphis has sold back to the lender for $2.9 million following a foreclosure.

32. US Home Building Climbed 13.2 Percent in April -

WASHINGTON (AP) – U.S home construction surged in April to its highest pace in five months. Almost all that increase came from the volatile apartment sector, a sign that Americans are still struggling to buy single-family homes.

33. Construction Loan Filed for Kirby Whitten Land -

The owner of a 4.5-acre vacant parcel on Kirby Whitten Road has filed an $8 million construction loan for the Bartlett site.

Vancouver, Wash.-based Bartlett Care Group LLC filed the construction deed of trust with absolute assignment of rents and leases, security agreement and fixture filing financing statement May 7 through Wells Fargo Bank NA.

34. Grizzlies to Affiliate with Iowa Energy -

The Memphis Grizzlies have entered into a single-affiliation partnership with the Iowa Energy for the 2014-2015 season, becoming the 14th NBA team to have a one-to-one relationship with its NBA D-League affiliate next season.

35. Grizzlies to Affiliate With Iowa Energy -

The Memphis Grizzlies have entered into a single-affiliation partnership with the Iowa Energy for the 2014-2015 season, becoming the 14th NBA team to have a one-to-one relationship with its NBA D-League affiliate next season.

36. Wells Fargo Sets $100 Billion Small-Business Lending Goal -

NEW YORK (AP) – Wells Fargo has set a goal of at least $100 billion in new loans to small businesses over the next five years.

The bank, which announced the goal Thursday, plans a marketing and education program to make small businesses aware of its services. The company made nearly $19 billion in new small business loans last year.

37. A Fading Middle-Class Perk: Lower Mortgage Rates -

WASHINGTON (AP) – For three decades, the U.S. middle class enjoyed a rare financial advantage over the wealthy: lower mortgage rates.

Now, even that perk is fading away.

Most ordinary homebuyers are paying the same or higher rates than the fortunate few who can afford much more.

38. FDA Proposes First Regulations for E-Cigarettes -

WASHINGTON (AP) – The federal government wants to ban sales of electronic cigarettes to minors and require approval for new products and health warning labels.

While the proposal being issued Thursday by the Food and Drug Administration won't immediately mean changes for the popular devices, the move is aimed at eventually taming the fast-growing e-cigarette industry.

39. Is Hot Market for IPOs Cooling? -

NEW YORK (AP) – A hot market for initial public offerings may soon face a cooler reception from investors.

IPOs are having their best start to a year since 2000. Eighty-nine companies have raised $19 billion through sales of new stock so far in 2014. But demand for more offerings depends largely on the health of the broader market, and after last week's sell-off, the clamor from buyers may quiet down.

40. US Home Market: Few Buyers and Not Enough Sellers -

WASHINGTON (AP) – Entering the 2014 spring buying season, the U.S. housing market faces an unusual dilemma: Too few people are selling homes. Yet too few buyers can afford the homes that are for sale.

41. Nearly All Major US Banks Pass Fed 'Stress Tests' -

WASHINGTON (AP) – All but one of the nation's 30 largest banks are better able to withstand a severe U.S. recession and global downturn than at any time since the financial crisis, the Federal Reserve has determined.

42. US Homebuilder Confidence Edges Higher in March -

U.S. homebuilders' confidence in the housing market edged higher this month, reflecting improved demand for new homes as the traditional spring home-selling season ramps up.

But the outlook for sales of single-family homes over the next six months dimmed slightly as builders continue to grapple with a shortage of skilled workers, ready-to-build land and rising building materials costs.

43. Buffett Says Economy Continues to Grow Steadily -

OMAHA, Neb. (AP) – Investor Warren Buffett says the economy continues the steady improvement that began in fall of 2009 and he remains optimistic despite Russia's advance into Ukraine.

44. Complaint Alleges Deutsche Bank Discrimination -

Deutsche Bank allegedly discriminated against minority neighborhoods in the Memphis area in the way it handled bank-owned properties, according to a complaint filed with the federal government.

45. Warren Buffett Offers Lesson in Value Investing -

OMAHA, Neb. (AP) – Warren Buffett is offering a refresher course on his approach to investing in his annual letter to Berkshire Hathaway Inc. shareholders.

46. Average 30-Year US Mortgage Rate Up to 4.33 Percent -

WASHINGTON (AP) – Average U.S. rates on fixed mortgages rose this week but remained near historically low levels.

Mortgage buyer Freddie Mac said Thursday the average rate for the 30-year loan increased to 4.33 percent from 4.28 percent last week. The average for the 15-year mortgage edged up to 3.35 percent from 3.33 percent.

47. US Housing Construction Down 16 Percent in January -

WASHINGTON (AP) – U.S. home construction fell in January for a second month but the weakness in both months reflected severe winter weather in many parts of the country. The expectation is that housing will deliver another year of solid gains, helped by an improving economy.

48. US Homebuilding Dips, But Year Best Since 2007 -

WASHINGTON (AP) – U.S. home construction slowed in December but ended 2013 with the best showing since the housing bubble burst.

The Commerce Department said Friday that builders broke ground last month at a seasonally annual rate of 999,000. That's 9.8 percent lower than November's pace of 1.12 million, which was the fastest in five years.

49. Mortgage Market Grows 3 Percent in 2013 -

The mortgage market in Shelby County ended 2013 with a modest improvement over 2012, with signs pointing to more advances in 2014.

Banks and mortgage lenders made 8,298 purchase mortgages in Shelby County during 2013, a 3 percent improvement from the 8,027 mortgages during 2012, according to the latest data from real estate information company Chandler Reports, www.chandlerreports.com.

50. Surprisingly Weak Jobs Report Puzzles Economists -

WASHINGTON (AP) – It came as a shock: U.S. employers added just 74,000 jobs in December, far fewer than anyone expected. This from an economy that had been adding nearly three times as many for four straight months – a key reason the Federal Reserve decided last month to slow its economic stimulus.

51. Oakhaven Warehouse Sells for $1.2 Million -

4300 Air Trans Road
Memphis, TN 38118
Sale Amount: $1.2 million

Sale Date: Dec. 17, 2013
Buyer: Chob Realty LLC
Seller: Tenn Trans LLC
Loan Amount: $950,000
Loan Date: Dec. 19, 2013
Maturity Date: N/A
Lender: BankPlus
Details: The 109,626-square-foot warehouse at 4300 Air Trans Road in Oakhaven has traded hands for $1.2 million.

52. Wells Fargo in $591 Million Deal With Fannie Mae -

Wells Fargo says it has made a $591 million deal with Fannie Mae to settle obligations related to loans that went bad after the housing bubble burst.

The deal announced Monday covers loans made through 2008. Wells Fargo & Co. says it resolves nearly all repurchase liabilities it has with Fannie Mae, the federal mortgage buyer.

53. Wells Fargo in $591 Million Deal With Fannie Mae -

Wells Fargo says it has made a $591 million deal with Fannie Mae to settle obligations related to loans that went bad after the housing bubble burst.

The deal announced Monday covers loans made through 2008. Wells Fargo & Co. says it resolves nearly all repurchase liabilities it has with Fannie Mae, the federal mortgage buyer.

54. New Owner of Holmes Properties Files Loan -

The new owner of the Memphis Logistics I and II buildings at 5510 E. Holmes Road and 5540 E. Holmes Road has filed a $28.9 million loan on the properties.

55. Shopping Center Group Moving to New Office -

The Shopping Center Group LLC is moving to a new office.

The Memphis office of the Atlanta-based retail real estate brokerage firm, which leases a total of approximately 4 million square feet of retail space and represents 100 retailers, is moving from 773 E. Brookhaven Circle to 5101 Wheelis Drive, Suite 106, at Clark Centre.

56. US Home Construction Hits Highest Pace in 5 Years -

WASHINGTON (AP) – U.S. builders broke ground on homes at the fastest pace in more than five years, strong evidence that the housing recovery is accelerating despite higher mortgage rates.

57. Fed Will Reduce Bond Purchases by $10 Billion in January -

WASHINGTON (AP) – The Federal Reserve has sent its strongest vote of confidence in the U.S. economy since the Great Recession struck six years ago: It's decided the economy is finally strong enough to withstand a slight pullback in the Fed's stimulus.

58. US Homebuilder Confidence Surges in December -

U.S. homebuilders' confidence bounced back strongly this month, a sign that construction and industry hiring may pick up in coming months.

The National Association of Home Builders/Wells Fargo builder sentiment index released Tuesday climbed to 58. That was up from 54 in November and matched an eight-year high reached in August. Readings above 50 indicate that more builders view sales conditions as good than poor.

59. Whitehaven Warehouse Sells for $2 Million -

The 150,000-square-foot warehouse at 2982 Datsun Drive in Whitehaven has been sold to an out-of-town investor for $2 million.

60. Homebuilder Confidence Holds Steady in November -

U.S. homebuilders’ confidence in the housing market held steady this month, but many are worried that another fight over the federal budget could cause would-be buyers to put off home purchases.

61. Homebuilder Confidence Holds Steady in November -

U.S. homebuilders’ confidence in the housing market held steady this month, but many are worried that another fight over the federal budget could cause would-be buyers to put off home purchases.

62. Wenco Files Construction Loan for Volvo of Memphis -

7910 Trinity Road
Cordova, TN 38018
Loan Amount: $4.2 million

Loan Date: Nov. 7, 2013
Maturity Date: n/a
Borrower: Wenco Properties LLC
Lender: Wells Fargo Bank NA
Details: Wenco Properties LLC has filed a $4.2 million construction loan through Wells Fargo Bank for the Volvo of Memphis dealership it is building at 7910 Trinity Road in Cordova.

63. Wenco Files $4.2 Million Loan to Build Cordova Volvo -

Wenco Properties LLC has filed a $4.2 million construction loan through Wells Fargo Bank for the Volvo of Memphis dealership it is building at 7910 Trinity Road in Cordova.

64. French Quarter Deal Collapses -

A Texas-based group had inked a deal to purchase the long-vacant French Quarter Suites Hotel near Overton Square, but the proposed sale fell through the cracks.

Austin, Texas-based ASC Management had until Oct. 31 to close on the purchase of the 105-room inn at the northeast corner of Madison Avenue and Cooper Street but did not complete the sale.

65. Fed Proposes Big Banks Hold More Cash, Assets -

WASHINGTON (AP) — The Federal Reserve on Thursday proposed that big banks keep enough cash, government bonds and other high-quality assets on hand to survive during a severe downturn on par with the 2008 financial crisis.

66. Builder Confidence Dips Amid Budget Impasse -

U.S. homebuilders are feeling less confident in the housing market, reflecting their uncertainty over the budget impasse in Washington.

The National Association of Home Builders/Wells Fargo builder sentiment index released Wednesday fell to 55 in October. That’s down from a reading of 57 in September. September’s reading was revised one point lower from its initial estimate.

67. US Bank Accused of Housing Discrimination in Memphis -

A fair housing organization is accusing a second major bank of discriminating against minority neighborhoods and property owners in Memphis for the way it handled bank-owned properties.

The National Fair Housing Alliance on Tuesday, Oct. 15, amended a complaint with the U.S. Department of Housing and Urban Development, alleging U.S. Bank failed to maintain and market properties in minority neighborhoods, while paying special care to its homes in predominantly white neighborhoods. The national nonprofit housing alliance said its investigation found that the bank’s properties in predominantly minority neighborhoods were much more likely to have structural and aesthetic problems than its homes in white neighborhoods.

68. Wells Fargo's Profit Up 13 Percent; Revenue Slips -

Third-quarter profit for Wells Fargo & Co., the biggest U.S. mortgage lender, jumped 13 percent as a decline in revenue from mortgage lending was offset by reduced expenses and fewer soured loans.

69. City Attorney Morris Recognized for Service -

City attorney Herman Morris Jr. is the 2013 recipient of the International Municipal Lawyers Association’s Joseph I. Mulligan Jr. Distinguished Public Service Award, which recognizes a local government attorney for achievements in local government law.

70. City Attorney Morris Recognized for Service -

City attorney Herman Morris Jr. is the 2013 recipient of the International Municipal Lawyers Association’s Joseph I. Mulligan Jr. Distinguished Public Service Award, which recognizes a local government attorney for achievements in local government law.

71. Complaint Alleges Bank of America Discrimination -

Bank of America allegedly discriminated against minority neighborhoods and property owners in Memphis in the way it handled bank-owned properties, according to an amended complaint filed with the federal government.

72. Complaint: Bank of America Discriminated in Memphis -

Bank of America allegedly discriminated against minority neighborhoods and property owners in Memphis in the way it handled bank-owned properties, according to an amended complaint filed with the federal government.

73. US Builder Confidence Steady, Rates a Concern -

U.S. homebuilders’ confidence in the housing market held this month at its highest level in nearly eight years. But builders are starting to worry that sales may slow if mortgage rates continue to rise.

74. Wells Fargo Donates to 10 Memphis Nonprofits -

Ten nonprofit groups in Memphis have been chosen to receive $1,000 grants as part of Wells Fargo’s Days of Giving program.

The program has exceeded $500,000 in donations to Memphis-area groups since it began four years ago.

75. Wells Fargo to Lay Off 1,800 Mortgage Employees -

NEW YORK (AP) – Wells Fargo & Co. says it plans to lay off an additional 1,800 employees from its mortgage department. The plans come after the bank cut about 2,300 jobs from the same unit in August.

76. Beale Street Future Returns to Bankruptcy Court -

The future path of Beale Street development is back in federal bankruptcy court after a plan that would both lease Handy Park and pay off a $600,000 loan for park improvements was scrapped Tuesday, Sept. 17, by Memphis Mayor A C Wharton Jr.

77. US Builder Confidence Steady, Rates a Concern -

U.S. homebuilders' confidence in the housing market held this month at its highest level in nearly eight years. But builders are starting to worry that sales may slow if mortgage rates continue to rise.

78. Wells Fargo Donates to 10 Memphis Nonprofits -

Ten nonprofit groups in Memphis have been chosen to receive $1,000 grants as part of Wells Fargo’s Days of Giving program.

The program has exceeded $500,000 in donations to Memphis-area groups since it began four years ago.

79. Citi Executive Works to Improve Small-Business Status -

NEW YORK (AP) – When small-business owners hear the name Citigroup, they're more likely to think of a bank that caters to big corporate and international clients, not one that will serve their needs.

80. US Banks Earn Record $42.2 Billion in 2nd Quarter -

WASHINGTON (AP) – U.S. banks earned more from April through June than during any quarter on record, aided by a steep drop in losses from bad loans.

The Federal Deposit Insurance Corp. says the banking industry earned $42.2 billion in the second quarter, up 23 percent from the second quarter of 2012. About 54 percent of U.S. banks reported improved earnings from a year earlier.

81. Wells Fargo to Lay Off 2,300 Mortgage Workers -

NEW YORK (AP) – Wells Fargo is laying off workers from its mortgage unit, the latest sign that the mortgage refinancing boom has cooled.

The San Francisco-based bank said it sent 60-day notices to about 2,300 mortgage employees on Wednesday. The layoffs will be at "locations across the country," the bank said in a statement, and a spokesman declined to give details.

82. Handy Park Lease Latest Stage in Beale Endgame -

The city of Memphis has a tentative lease of Handy Park with a group that includes some current tenants of the Beale Street entertainment district.

And the pending agreement would resolve one of the final issues in the city’s relationship with John Elkington, the developer of the district and founder of Performa Entertainment.

83. US Builders Broke Ground on More Homes in July -

WASHINGTON (AP) – U.S. developers broke ground on homes at a faster pace in July. But the rise was all due to apartment construction, which is typically volatile. By contrast, builders began work on fewer single-family homes – the bulk of the market – and sought fewer permits to build them.

84. US Homebuilder Confidence Nears 8-Year High -

Confidence among U.S. homebuilders is at its highest level in nearly eight years, fueled by optimism that demand for new homes will drive sales growth into next year.

The brighter sales outlook is the latest sign pointing to a sustained pickup in construction in coming months and comes as applications for permits to build single-family houses are at a five-year high.

85. Average Rate on 30-Year US Mortgage Stays 4.4 Percent -

WASHINGTON (AP) – Average rates on U.S. long-term fixed mortgages remained steady for a second straight week, giving prospective home buyers more time to lock in historically low levels.

86. Tepid US Retail Sales Raising Doubts About Economy -

WASHINGTON (AP) – Bleaker outlooks at retailers like Wal-Mart and Macy's are raising doubts that consumers will spend enough in coming months to lift the still-subpar U.S. economy.

Though the economy is growing steadily, Americans are being hampered by weak pay, higher taxes and tepid hiring. Sluggish overseas economies are also slowing sales for U.S. retailers. It's a picture the Federal Reserve will weigh in deciding whether to scale back its bond purchases as soon as next month.

87. Raleigh Sam’s Club Sells for $11.4 Million -

2150 Covington Pike
Memphis, TN 38128
Sale Amount: $11.4 million

Sale Date: June 25, 2013
Buyer: Realty Income Properties 25 LLC
Seller: Dune SC Sub II LLC
Details: The Sam’s Club at 2150 Covington Pike in Raleigh has sold for $11.4 million to a California investor.

88. Ally Financial Firms Paying $198 Million for US Claims -

WASHINGTON (AP) – Ally Financial and its related companies are paying about $198 million to settle federal complaints that the companies wrongfully foreclosed on homeowners.

The Federal Reserve announced the agreement Friday with Ally Financial, the former lending arm of General Motors known as GMAC Mortgage.

89. Flagler Development Files Loans on Three CVS Stores -

Affiliates of Coral Gables, Fla.-based commercial real estate firm Flagler have filed loans on three Memphis CVS properties – 2115 Union Ave. in Midtown, 3516 Highland St. in East Memphis and 786 N. Germantown Parkway in Cordova.

90. Presidents Island Property Sells for $1.1 Million -

2269 Channel Ave.
Memphis, TN 38106
Sale Amount: $1.1 million

Sale Date: July 15, 2013
Buyer: CHS Inc.
Seller: Holcim (U.S.) Inc.

91. Banks' Earnings Pop Masks Deeper Concerns -

NEW YORK (AP) – Major U.S. banks have turned in big profit gains this season, but the news isn't all good.

Much of the earnings increase is coming from cutting costs, rather than growing their core lending businesses. A boom in mortgage refinancing looks like it's about to peter out. And regulators are considering stricter new rules that would force the banks to shore up their cash.

92. Shelby County Foreclosures Drop 10.6 Percent in Second Quarter -

Through various mitigation efforts, the lending giant Wells Fargo has helped some 5,200 Memphis homeowners avoid foreclosure since 2009.

Those numbers come from Wells itself, which currently services the mortgages of about 45,000 families and individuals in the city. Despite progress the lender has made, though, a Wells spokesman said foreclosures remain a “persistent problem” in Memphis.

93. US Homebuilder Confidence, Sales Outlook Soar -

U.S. homebuilders are feeling more optimistic about their home sales prospects than they have in more than seven years, a trend that suggests home construction will accelerate in coming months.

The National Association of Home Builders/Wells Fargo builder sentiment index released Tuesday jumped to 57 this month from 51 in June. It was the third consecutive monthly gain.

94. Exeter Property Group Files $20.1 Million Loan -

A local affiliate of Plymouth Meeting, Pa.-based Exeter Property Group has filed a $20.1 million loan on its 1 million-square-foot property at 3955 E. Holmes Road in Oakhaven.

95. June Mortgages Up 8 Percent -

June was a healthy month for the mortgage market in Shelby County. Last month saw 810 purchase mortgages made, an 8 percent improvement from 750 mortgages in June 2012, according to real estate information company Chandler Reports, www.chandlerreports.com.

96. Lower Costs Help Lift Wells Fargo's Second-Quarter Profit -

Lower expenses and fewer bad loans helped lift Wells Fargo's second-quarter profit by 20 percent, the company reported Friday.

The cost-cutting and improved loan quality helped the nation's biggest U.S. mortgage lender overcome meager revenue growth.

97. Wells Fargo Holds Home Preservation Workshop -

Wells Fargo is holding a free Home Preservation Workshop in Memphis for troubled homeowners.

Wells Fargo has invited 1,250 mortgage customers to the free workshop, which will be held Thursday, July 11, from 9 a.m. to 7 p.m., at the Memphis Cook Convention Center. About 75 Wells Fargo home preservation specialists will be on hand to answer questions, make alternative arrangements and offer help where possible to any homeowner whose mortgage is linked to Wells. That would include people who have mortgages through Wells Fargo Home Mortgage, Wachovia Mortgage, Wells Fargo Financial and Wells Fargo Home Equity.

98. Reports Reflect Fed's Message of Stronger Economy -

WASHINGTON (AP) – The U.S. housing recovery is strengthening. Factories are fielding more orders. And Americans' confidence in the economy has reached its highest point in 5.5 years.

That brightening picture, captured in four reports Tuesday, suggests that the economy could accelerate in the second half of the year. It underscores the message last week from the Federal Reserve, which plans to slow its bond-buying program this year and end it next year if the economy continues to strengthen. The Fed's bond purchases have helped keep long-term interest rates low.

99. US Home Re-Sales Surpass 5 Million in May -

WASHINGTON (AP) — U.S. sales of previously occupied homes surpassed the 5 million mark in May, the first time that's happened in 3 ½ years. The gain shows the housing recovery is strengthening.

100. US Home Construction Rises 6.8 Percent in May -

WASHINGTON (AP) — U.S. builders stepped up home construction in May and applied for permits to build single-family homes at the fastest pace in five years. The gains show housing remains a key source of growth for the economy.