Banker's Toolbox Announces — ACQUISITION OF LOAN LOSS RESERVE POWERHOUSE, MAINSTREET TECHNOLOGIES
Banker's Toolbox, Inc., leaders in compliance solutions for financial institutions, announced the acquisition of Georgia-based MainStreet Technologies (MST). MST is an industry leader in the loan risk management space. This acquisition adds to a strong and growing portfolio of compliance-related solutions and will continue to enhance the value Banker's Toolbox brings to both their customers and the industry. (Read full press release here.)
Residential sales slip
HUD and the Census Bureau have announced May 2019 statistics on new residential sales:
- New home sales: Sales of new single-family houses in May 2019 were at a seasonally adjusted annual rate of 626,000. This is 7.8 percent below the revised April rate of 679,000 and 3.7 percent below the May 2018 estimate of 650,000.
- Sales price: The median sales price of new houses sold in May 2019 was $308,000. The average sales price was $377,200.
- For sale inventory: The seasonally adjusted estimate of new houses for sale at the end of May was 333,000. This represents a supply of 6.4 months at the current sales rate.