Mortgage slowdown leads to income decline at PennyMac
NOTE: This article was posted May 9 and revised May 10 to correct an error in the headline and first sentence. PennyMac Financial Services reported net profits for the quarter, not a loss as we initially reported, while PennyMac Mortgage Investment Trust reported a loss. Amid a “challenging mortgage market,” Westlake Village-based mortgage lender PennyMac Read More →
Real Estate: Westlake Village office building sells for $35.1M
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Startup has big plans for mental health
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Real Estate: Home goods company inks $13.9M lease on industrial building in Simi Valley
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Environmental groups, governments and Patagonia sue Forest Service over logging project
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Velocity Financial reports drop in earnings
Velocity Financial, a Westlake Village-based mortgage lender for small multifamily residential and commercial properties, reported a steep decline in earnings for the first quarter of 2022 when compared to a year earlier. In an earnings report released May 5, Velocity reported net income of $3.1 million, or 9 cents per share, down from $8.4 million, Read More →
Fertilizers double and even triple in price due to war, pandemic, inflation
California farmers have had their share of troubles, with persistent drought and the COVID-19 pandemic shaking the industry in recent years. In 2022, Russia’s invasion of Ukraine has driven up the cost of fertilizer, which was already spiking, to record amounts. In addition to sunlight and water, crops need three key nutrients: nitrogen, phosphorous and Read More →
