The Trump administration may break a promise and reduce the $ 1 million cap on mortgage deductions for US homeowners, a new report said Friday. Politico said the fate of the popular deduction — which allows homeowners to avoid income taxes on mortgages up to the million-dollar mark — came up this week at a...
NYS Entity Status
NYS Filing Date
MAY 17, 2013
NYS DOS ID#
NYS Entity Type
FOREIGN BUSINESS CORPORATION
2013 - BROOKFIELD MORTGAGE OPPORTUNITY INCOME FUND INC.
Around the Web
- Trump might break mortgage deductions promise: report
By Bob Fredericks - Friday Aug 4, 2017
- Amazon is opening a massive new office in New York City
By Lois Weiss - Thursday Sep 21, 2017
Amazon is opening a massive new office in the Big Apple next year. The Seattle-based web giant has signed a lease for 359,000 square feet at Brookfield’s 5 Manhattan West, where it intends to open in 2018. It will receive up to $20 million from the state in Excelsior Jobs Program tax credits and expects...
- Big Data tells mortgage traders an amazing amount about you
By Matt Scully - Friday Jun 30, 2017
The New York startup sucks in data from marketing firms, public loan filings, courthouses and dozens of other sources, and sells it to mortgage bond and loan traders.The vivid detail the company turns up — the types of stores borrowers tend to shop at and whether they rent out their homes on Airbnb, for example — may unsettle privacy advocates, but it’s a boon for investors trying to figure out how likely homeowners are to pay their obligations.Across the world of finance, startups are using big data to try to improve Wall Street’s success with everything from consumer lending to stock trading.The average fund manager can gain 0.4 to 0.7 percentage point of return by using more intelligent data when trading mortgages, at least for home loans that haven’t been bundled into securities, according to John Ardy, CEO of Resitrader, an institutional marketplace for home loans.“We’re concerned about how this information is shared, and how it can have adverse consequences for individuals without their even realizing it,” said Lee Tien, a senior staff attorney at the Electronic Frontier Foundation, a nonprofit focusing on civil liberties.[...] money managers using information they get from TheNumber could face accusations of discriminating against borrowers based on race or religion if it turns out the factors the company looks at tend to single out particular types of people, said Frank Pasquale, a professor at the University of Maryland’s Francis King Carey School of Law.Fund managers that use TheNumber are typically buying subprime mortgages, many of which have defaulted.TheNumber tries to determine how much pride a homeowner probably has in his or her property, based on information it gleans from third parties, such as whether the resident tends to click on online ads from home improvement and gardening stores.Experian, for example, tries to make sure investors can’t readily determine borrowers’ identities when it hands out mortgage data, said Michele Raneri, a vice president of analytics and new business development at Experian.Added information about borrowers could boost transparency in the mortgage bond market, where getting information about creditworthiness and prices can be much harder than in other debt markets.“Investors in every other market get to see what they are buying — but not mortgage bond investors,” said Adam Murphy, founder of Empirasign Strategies LLC, a trading data firm for mortgage bond professionals.
- He pocketed my mortgage payments, now I’m homeless
By Emily Saul - Tuesday Oct 3, 2017
A “heartless crook” who left a woman and her son homeless by pocketing nearly $100,000 of their money as part of a long-running mortgage scam was slapped with charges Tuesday. Ravin Lakhram offered to help his victim modify her mortgage payments after she discovered her son had taken out a second mortgage on their two-family-home,...
- Steve Mnuchin signals higher taxes for hedge funds
By Kevin Dugan, Carleton English - Tuesday Sep 12, 2017
Steve Mnuchin to Wall Street: Time to pay up. The Trump administration is targeting an effective tax-rate hike on hedge funds and some accounting firms as part of a broader overhaul of the US tax system, Treasury Secretary Steve Mnuchin said Tuesday at an industry conference. Hedgies typically have their income taxed at a lower...
- Food & Wine Magazine Will Leave New York for Alabama
By STEPHANIE STROM - Friday Jun 23, 2017
The move reflects a changing business in which traditional food magazines, and a Manhattan address, are less important.