Industry Update: the Future of eClosing and RON

Join industry experts for an in-depth discussion on the future of eClosing and how hybrid and RON closings benefit lenders and borrowers.

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Despite a Democratic majority, the likelihood of a massive investment in housing via a $3.5 trillion social infrastructure package appears slim these days. HW+ Premium Content

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Dubbed the Neighborhood Homes Tax Credit, the proposal is part of the larger American Jobs Plan legislation — also known as Biden’s infrastructure plan. Here's a look into how it impacts real estate investors.


Home Depot profit rises on housing market recovery

Beats earnings expectations

Home improvement store Home Depot (HD) reported net earnings for the fourth quarter of $1.4 billion, or $1.05 per diluted share, compared with net earnings of $1.0 billion, or $0.73 per diluted share, in the same period of fiscal 2013.

This beat analyst earnings per share estimates by $0.11 and revenue by $460 million.

For the fourth quarter of 2014, diluted earnings per share increased 43.8% from the same period in the prior year.

The results reflect a pretax gain on sale of $111 million, or $0.05 per diluted share, related to the sale of a portion of the company's equity ownership in HD Supply Holdings, Inc.

The company posted sales of $19.2 billion for the fourth quarter of fiscal 2014, an 8.3% increase from the fourth quarter of fiscal 2013.

Comparable store sales for the fourth quarter of fiscal 2014 were positive 7.9%, and comp sales for U.S. stores were positive 8.9%.

For fiscal 2014, sales were $83.2 billion, an increase of 5.5% from fiscal year 2013. Total company comparable store sales for fiscal year 2014 increased 5.3%, and comp sales for U.S. stores were positive 6.1% for the year.

"We had a strong finish to the year, as strength across the store, the recovering U.S. housing market and solid execution aided our business in 2014," said Craig Menear, chairman, CEO and president. 

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