Latest news with #Pulte
Yahoo
2 days ago
- Politics
- Yahoo
Why Donald Trump left phone messages for Jeffrey Epstein. Here's what we know
When Palm Beach police searched Jeffrey Epstein's island mansion in 2005 after a report that Epstein had sexually abused a minor, they seized several message pads from his kitchen, office and elsewhere. Amid the messages, which ranged in dates from 2002 to 2005, were two left for Epstein from Donald Trump. Trump's Justice Department announced on July 7 that the tranche of Epstein documents it has does not contain a "client list" and that they won't be released. The messages confiscated in 2005 from Epstein come from Palm Beach County State Attorney's documents released to The Palm Beach Post during its 2019 investigation, "Epstein: the first failure." Trump has never been accused of any wrongdoing involving Epstein's crimes. More: Is Trump in Epstein documents as Elon Musk's tweet says? President has already appeared When were the Trump messages for Epstein left and why? The notes appeared amid others dated around the time Trump and Epstein vied in a bankruptcy bidding war for former healthcare magnate Abe Gosman's manse on Palm Beach. Trump bested Epstein and Mark Pulte, son of the founder of Pulte homes, for the 43,000-square-foot, seven-bedroom estate on 6 oceanfront acres at 515 N. County Road along the storied "Raider's Row." Trump's bid of $41.35 million won the real estate. Epstein had bowed out when the price hit $38 million. What the Trump phone messages say The communications, usually taken when someone calls, contain only Trump's phone number and are addressed to "J.E." They are not dated but appear in a long number of images dated between Nov. 11 and Nov. 20, 2004. The auction took place on Nov. 15, 2004. It's unclear whether Trump was trying to negotiate over the auction of the Gosman house. Both marked at 5:18 p.m., but appear to be different handwriting so it's not clear whether they were calls on the same day. Being on Epstein's message pads is not evidence of any wrongdoing. Other names that appeared include Jes Staley, former executive at JPMorgan and Barclays; magician David Copperfield; physicist Lawrences Krauss; and former Hollywood producer and convicted sex offender Harvey Weinstein. None of those men has been accused of being part of Epstein's crimes. Staley admitted in March 2025 that he had had sexual relations with a member of Epstein's staff at Mark Epstein's home and claimed he had no knowledge of Epstein's "monstrous activities." Mark Epstein is Jeffrey's brother. Regarding Elon Musk tweet: Trump has appeared in other Epstein docs but nothing nefarious Trump has appeared in other public documents regarding Epstein, such as the financier's flight logs from the 1990s when Trump took several flights with his family members. Many of the documents were seized as part of the 2005 police investigation into a sexual abuse allegation by a 14-year-old. She and her stepmother made a report to Palm Beach police in March 2005. The search of Epstein's home occurred in October that year. Police eventually amassed dozens of minor girls and young women as potential witnesses, but instead of charging Epstein himself, Palm Beach County State Attorney Barry Krischer chose to take the case to a grand jury. The move was highly unusual. More: Jeffrey Epstein 2006 grand jury documents are public. Read for yourself what happened What emerged from the secret proceeding was a single solicitation of prostitution against Epstein. Only two victims testified and were directly called prostitutes by prosecutors, according to transcripts released in summer 2024 as part of a nearly 5-year-long Palm Beach Post lawsuit. Trump told New York magazine in 2002 that "I've known Jeff (Epstein) for 15 years. Terrific guy. He's a lot of fun to be with. It is even said that he likes beautiful women as much as I do, and many of them are on the younger side.' But when Epstein was arrested in 2019 on sex trafficking charges, Trump said, "I'm not a fan." The president said he'd cut ties with the predator 15 years earlier, presumably around the time of the messages. How Trump and Epstein knew each other Trump and Epstein have been photographed partying together in the 1990s. Epstein's home at 358 El Brillo Way was less than two miles from Mar-a-Lago. Epstein bought his mansion and moved to live on the island part time in 1990. Trump bought Mar-a-Lago in 1985. Trump was about six years older. Epstein pleaded guilty to two prostitution-related felonies in Palm Beach County in 2008. He served 13 months at the jail, much of that time on 12-hour-a-day, six-days-a-week work release. He was found hanged to death in his Manhattan jail in August 2019, weeks after being arrested by federal authorities on sex trafficking charges. Holly Baltz is the investigations editor at The Palm Beach Post. You can reach her at hbaltz@ This article originally appeared on Palm Beach Post: Why Donald Trump left phone messages for Jeffrey Epstein. What we know Solve the daily Crossword
Yahoo
6 days ago
- Business
- Yahoo
Pulte's Social Media Posts Become Must-Follow for Stock Traders
(Bloomberg) — For years, investors have found themselves at the whim of President Donald Trump's social-media posts. Now, traders are being forced to pay attention to an unlikely official: Federal Housing Finance Agency head Bill Pulte. Why Did Cars Get So Hard to See Out Of? How German Cities Are Rethinking Women's Safety — With Taxis Advocates Fear US Agents Are Using 'Wellness Checks' on Children as a Prelude to Arrests Stocks have swung wildly on Pulte's comments as he opines on everything from credit score pricing, to cryptocurrencies as mortgage assets, and even the job security of Federal Reserve Chair Jerome Powell. Sometimes preceded by cryptic teasers, his online comments have fueled the worst one-day drop in half a decade for credit-score provider Fair Isaac Corp. (FICO), multiple slumps in credit bureau stocks and even a brief drip in the entire S&P 500 Index on Friday. His market moving ability has 'thrust a normally obscure government official into the forefront of business news,' said Steve Sosnick, chief strategist at Interactive Brokers. Friday's market pullback, while brief, saw the S&P 500 quickly drop about 0.2% in a matter of minutes after Pulte posted on X that he was 'encouraged by reports' that Powell is considering resigning, without referencing any specific report. No such verified reports have emerged. Pulte is no stranger to courting online controversy: Before joining the FHFA, the investor and self-proclaimed online philanthropist had partaken in multiple feuds on social media site X. He was also known for using his account to give cash to followers. Senator Elizabeth Warren questioned Pulte's presence on X as the Senate Committee on Banking, Housing, and Urban Affairs considered the nomination to his current job. Warren in a letter wrote that Pulte appeared to have deleted more than 25,000 posts from his account days after the 2024 presidential election, leaving up fewer than 250. Pulte's position in government has given his words new weight. Fair Isaac slid 16% on May 21 after Pulte questioned credit score pricing in a series of posts on X, the biggest decline in the stock since March 2020. The selloff, which followed comments from Pulte on credit scores at a conference, wiped nearly $7.8 billion off the market value of the FICO score provider. Shares of credit bureaus TransUnion (TRU) and Equifax Inc. (EFX) also fell after those comments. The stocks were again rattled last month when Pulte said on X that he was doing a 'full scale review' of credit bureaus, and Fair Isaac slid again after he said last week that Fannie Mae and Freddie Mac will allow lenders to use a different credit score to 'increase competition' in the ecosystem. In April, shares of Fannie Mae and Freddie Mac spiked more than 14% after Pulte posted on X that 'news on Fannie Mae coming shortly.' About 20 minutes later, Pulte posted again saying that Omeed Malik, co-founder of 1789 Capital, would be joining the board of Fannie Mae. Shares of both Fannie and Freddie quickly pared their advances after the second post, cutting their gains roughly in half. Pulte isn't the only Trump administration official making waves in the stock market either. Both Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick have repeatedly sent stocks higher and lower during interviews in recent months. Trump, speaking at a White House Faith Office luncheon on Monday praised Bessent for 'doing a fantastic job.' 'He goes on television and he calms the market,' Trump said. 'Our Goal Is to Get Their Money': Inside a Firm Charged With Scamming Writers for Millions Thailand's Changing Cannabis Rules Leave Farmers in a Tough Spot 'The Turbulence Is Brutal': Four Shark Tank Businesses on Tariffs Trump's Cuts Are Making Federal Data Disappear Trade War? No Problem—If You Run a Trade School ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
12-07-2025
- Business
- Business Insider
Fed Chair Powell Considers Resignation, Says FHFA Director
Federal Housing Finance Agency (FHFA) Director William Pulte released a statement on Friday saying that he was pleased to hear that Fed Chair Jerome Powell may step down from his position. Pulte is also the Chairman of Fannie Mae (FNMA) and Freddie Mac (FMCC). Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. 'I'm encouraged by reports that Jerome Powell is considering resigning. I think this will be the right decision for America, and the economy will boom,' said Pulte. Earlier this month, Pulte pushed for a Congressional investigation of Powell over the Fed's $2.5 billion renovation of its Washington, D.C. headquarters. No Confirmed Reports of Powell's Resignation Pulte's statement could be misleading because there are no confirmed reports that Powell is considering resigning. His term as Fed Chair ends in May 2026. Meanwhile, President Trump has launched repeated verbal attacks toward Powell in recent months, arguing that the federal funds rate should be three points lower in light of low inflation and in order to save the U.S. government over $1 trillion in interest payments. On Friday, Trump was asked twice if he would fire Powell, responding 'no' both times. However, he did say that the Fed Chair is 'doing a terrible job.' The federal funds rate is currently in a range between 4.25% and 4.50%.
USA Today
11-07-2025
- Business
- USA Today
Fannie and Freddie no longer require FICO. Will it help you get a mortgage?
A regulator's decision to allow a big change to the way mortgages are underwritten is meeting a mixed reception from housing and finance professionals. 'Effective today, to increase competition to the Credit Score Ecosystem and consistent with President Trump's landslide mandate to lower costs, Fannie and Freddie will ALLOW lenders to use Vantage 4.0 Score,' Bill Pulte, the head of the Federal Housing Finance Agency (FHFA), tweeted on July 8. FHFA oversees Fannie Mae and Freddie Mac, the two giant government-sponsored enterprises that guarantee nearly half of all U.S. mortgage debt. Fannie and Freddie buy loans from banks and other financial institutions, so when they change their processes, it matters to lenders around the country, and the borrowers they serve. In this case, Pulte was referring to VantageScore, a company that offers credit scores – numerical representations of how likely a borrower is to repay a loan. Lenders who offer mortgages with the intention of selling them to Fannie or Freddie now have the option to use either VantageScore or to continue to use FICO, a competitor, to assess a borrower. 'FHFA's announcement to allow lenders to have a choice of credit score models to use when delivering loans to Fannie Mae and Freddie Mac could help to accomplish the goals of added competition in the credit score space and reduced consumer costs, if implemented correctly,' said the Mortgage Bankers Association, an industry group representing lenders, in a statement. 'We need more competition among credit bureaus and an end to monopolistic practices to lower prices and improve accuracy," Sharon Cornelissen, director of housing for the progressive Consumer Federation of America, told USA TODAY, in an email. "Director Pulte's action is a step in the right direction, and we hope he continues to work on reducing closing costs and broadening mortgage access for consumers.' But some consumer advocates believe the introduction of VantageScore into the mortgage space will actually decrease competition by consolidating industry share more firmly in the hands of TransUnion, Experian and Equifax, the three credit bureaus, which own the company. 'The big three credit bureaus are basically a functional monopoly,' said Chi Chi Wu, director of consumer reporting and data advocacy at the National Consumer Law Center. 'If you want a mortgage, you have to pull all three reports. You have no choice. They created VantageScore to try to drive FICO out of the market because they want the whole market. FICO is the only independent actor.' Ingmar Goldson, a Maryland-based consumer lawyer, echoed those beliefs. "Given that VantageScore is owned by the three major credit bureaus, I remain skeptical of any claims—whether from Fannie, Freddie, or the bureaus themselves—that this shift will truly benefit consumers in the long run," he told USA TODAY. Anthony Hutchinson, who heads public affairs for VantageScore, told USA TODAY that the company's model – the information it compiles on consumers to offer lenders information on their creditworthiness – is 'more holistic' than FICO's. Among other things, Hutchinson said, VantageScore's model is able to blend consumer information over a period of time. This 'trended' approach is more useful than just looking at a consumer at one moment in time, he argues, because it can show whether that person's financial health is improving or weakening. VantageScore also claims that there are 33 million Americans who are 'credit invisible' – that is, they have no credit score at all – and whom the company's more modern approaches to collecting data do better at scoring. But Wu says she doubts those numbers. In fact, the Consumer Financial Protection Bureau recently released research that suggests the number of Americans who are credit invisible is only about one-tenth that estimate, or roughly 2.7 million people. Wu also notes that FICO has also incorporated some of the more dynamic credit attributes VantageScore boasts about. In response to USA TODAY's request for comment, a FICO spokesperson emailed: 'FICO welcomes competition on a level playing field among credit score providers. We compete vigorously in every U.S. consumer credit market, and the FICO Score is freely chosen by lenders, investors, and other market participants because it is trusted as the most predictive and reliable credit score. FICO scores are the industry standard and preferred choice for evaluating creditworthiness in the mortgage process, regardless of whether the loan is conforming or non-conforming." Opening up the credit scoring space to real competition – and easing the path to homeownership for more Americans – gets bipartisan support even in a polarized Washington. Pulte's decision had its origins in legislation introduced by Republican Senator Tim Scott (South Carolina) and Democratic Senator Mark Warner (Virginia) years ago, Hutchinson points out. The legislation, the Credit Score Competition Act, was signed into law in 2018 as part of the Economic Growth, Regulatory Relief, and Consumer Protection Act, but FHFA took several years to decide how to implement it. Senator Scott was one lawmaker urging quicker action on that front, in 2023. Wu believes the slower approach was for the best, given the number of stakeholders involved in making such a big transition. 'I think changing a well-thought out decision that was the result of a lot of process by an arbitrary tweet is bonkers,'' she said. "I have no idea if it complies with the 2018 law or the regulations, or if it's arbitrary and capricious.' Aside from concerns about the industry backdrop, VantageScore's presence might not even make a difference for consumers in terms of immediate savings. When asked about how much less one of their scores would cost compared to a FICO score, the company deflected the question to the credit and Experian did not immediately respond to a request for comment, and a TransUnion spokesperson referred USA TODAY to an industry group for more information. CFA's Cornelissen, despite her support for the step, acknowledges the savings will be minor: in the 'tens of dollars," she said. Read next: Down payments are the biggest homeownership hurdle. Why is Washington making them scarcer?
Business Wire
11-07-2025
- Business
- Business Wire
Westcor Land Title Insurance Company ® Partners on Fannie Mae Title Acceptance Pilot
MAITLAND, Fla.--(BUSINESS WIRE)-- Westcor Land Title Insurance Company ® is partnering with X1 Analytics ® in Fannie Mae's Title Acceptance pilot. The pilot is part of an ongoing effort by the Federal Housing Finance Agency (FHFA) and Fannie Mae to modernize the mortgage closing process and reduce costs for consumers and taxpayers. Westcor partnered with Mortgage Connect LP, a policy issuing agent, in the creation of this solution. This initiative is distinct in the marketplace as it includes a title insurance-backed product. While this policy departs from the traditional title insurance model in scope, it retains the core benefits and legal assurances that are the hallmark of the industry. This approach ensures that both borrowers and lenders are protected while supporting efforts to deliver real savings at the closing table. At Westcor, innovation and consumer protection go hand-in-hand. The underwriter's participation in this program reflects its long-standing mission to evolve the title industry with practical, forward-thinking solutions that preserve the foundational protections buyers, lenders, and investors have come to rely on. 'We're proud to support the GSEs' modernization goals while continuing to uphold the core value of title insurance — protecting property rights,' said Mary O'Donnell, CEO of Westcor. 'This pilot proves that innovation and consumer protection can go hand in hand.' While the title industry continues to evolve, Westcor believes this new model strikes an important balance. It brings meaningful efficiencies to the closing process without eliminating the safeguards that consumers and lenders have long relied on. In doing so, it also offers lenders a compelling alternative that is ready to deploy today. 'We're grateful to Director Pulte and his team at FHFA and Fannie Mae for recognizing that innovation in title can both lower costs and preserve protections while fostering competition,' O'Donnell added. Westcor is the largest independent title insurance company in the nation and remains committed to serving its agent network and protecting consumers in every transaction. About Westcor Land Title Insurance Company ® Founded by title agents, Westcor is the number one independent title insurance underwriter in the nation. Westcor's technology-driven products and services and sound underwriting help agents and their customers close real estate transactions faster and with peace of mind. Westcor is rated B+ (Sound Financials) by Kroll and A' (A Double Prime) by Demotech Rating Inc. Based in Maitland, FL, Westcor has regional offices throughout the United States. Westcor is part of the Ardán family of companies. Ardán makes real estate closings faster, simpler, and safer through technology-driven, innovative solutions, sound underwriting, and exceptional customer service.
