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Cendant Mortgage

10637 McClemont Ave, Tujunga, Homes for Sale

cel:818.262.5446 email:800041.lead@cendant.lead router.com Shelley Rizzotti cel:818.516.6409 email:800041.lead@cendant.lead router.com Ewing &amp ...

Compass Point Cuts PT to $35 Following an Article Highlighting a Lawsuit Involving Realogy Holdings (RLGY) and PHH

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Compass Point maintained a Neutral rating on Realogy (NYSE: RLGY ), and cut the price target to $35.00 (from $38.00), due to increasing potential for regulatory risk. An article on Inman.com highlighted a class-action lawsuit filed in federal court in California on 11/25/15 (Timothy L. Strader, Sr. v. PHH Corporation et al). The Strader suit argues that RLGY and PHH "have violated RESPA and distorted the market for title insurance and other settlement services" since at least 1/31/05 when Cendant spun-off PHH and the companies began a Strategic Relationship Agreement (SRA).

Analyst Fred Small commented, "We reiterate our NEUTRAL rating on RLGY, lower our price target to $35.00 from $38.00 due to increasing potential for regulatory risk. Specifically, a recent class-action lawsuit filed in California alleges the business relationships between RLGY and PHH violate RESPA; this type of filing potentially lays out a road-map for the CFPB and at the margin increases the probability that RLGY will face more regulatory scrutiny or penalties. Our FY16 and FY17 EPS estimates are unchanged at $1.78 and $2.10. Our FY15 estimate drops to $1.42 (vs. $1.47 previously) due to a lower 4Q15 EPS estimate ($0.24 vs. $0.28 previously). Current existing home sales (EHS) estimates assume limited impact from marginal increases in interest and mortgage rates, which leaves us waiting for a potential better entry point in RLGY as expectations decline. Additionally, our concerns about the regulatory environment for real estate brokers and title/settlement services providers have increased over the past six months, which lowers the multiple we assign to RLGY's future earnings (and increases the discount rate assumed for our DCF). More specifically, recent regulatory actions and changes in disclosures between RLGY and PHH raise additional questions about certain relationships between the two companies. Our $35.00 price target is based on a weighted average of three valuation methods: P/E multiple, EV/EBITDA multiple, and discounted cash flow. Our price target equates to 20x our FY16 EPS estimate of $1.78, compared with the average NTM P/E of 24x since 1Q13.

Public Notices

MASTER'S SALE BY VIRTUE of a decree heretofore granted in the case of: Pingora Loan Servicing, LLC vs. Mieoki K. Figueroa; Forest Creek Community Association, Inc.; , C/A No.15-CP-40- 4488 I, the undersigned Master for Richland County, will sell on February 1, 2016 at 12:00 Noon, Master's Court Room 2-D, Richland County Judicial Center, 1701 Main Street, Columbia, SC, to the highest bidder: All that certain piece, parcel, or tract, or lots of land, together with any improvements thereon, situate, lying and being in the County of Richland, State of South Carolina, fronting on Old Two Notch Road, and being shown as LOT 583 on a Bonded Plat of FOREST CREEK SUBDIVISION, PHASE 15 prepared for Great Southern Homes, Inc. by Power Engineering Company, Inc. dated October 23, 2007, revised October 26, 2007, July 6, 2012, and September 11, 2012 and recorded October 8, 2012 in the Office of the Register of Deeds for Richland County in Plat Oversized Book 1802 at Page 1830; Reference also made that plat of Jacobs Creek Subdivision, Phase 15 recorded in Book 1393 at Page 1331; reference being made to the said plats which are incorporated herein by reference for a more complete and accurate description; all measurements being a little more or less. This being the same property conveyed to Mieoki K. Figueroa by deed of Great Southern Homes, Inc., dated May 28, 2014 and recorded May 29, 2014 in Book R1948 at Page 1794 in the Office of the Register of Deeds for Richland County. Property Address: 437 Preakness Ln Elgin, SC 29045-7129 Derivation: Book R1948; Page 1794 TMS# R25911-05-30 TERMS OF SALE: The successful bidder, other than the plaintiff, will deposit with the Master, at conclusion of the bidding, five per cent (5%) of his bid, in certified funds, as evidence of good faith, same to be applied to purchase price if compliance is made, but in the event compliance is not made, the deposit shall be forfeited and applied first to costs of the action and then to plaintiff's debt. Should the successful bidder at the regularly conducted sale fail or refuse to make the required deposit at time of bid or comply with the other terms of the bid within twenty (20) days, then the Master may re-sell the property on the same terms and conditions on some subsequent Sales Day, but at the risk of the defaulting bidder(s) NOTICE: The foreclosure deed is not a warranty deed. Interested bidders should satisfy themselves as to the quality of title to be conveyed by obtaining an independent title search prior to the foreclosure sale date. No personal or deficiency judgment being demanded, the bidding will not remain open after the date of sale, but compliance with the bid may be made immediately. Purchaser to pay for documentary stamps on Master's Deed. The successful bidder will be required to pay interest on the balance of the bid after the deposit is applied from date of sale to date of compliance with the bid at the rate of 4% per annum. SUBJECT TO ASSESSMENTS, RICHLAND COUNTY TAXES, EXISTING EASEMENTS, EASEMENTS AND RESTRICTIONS OF RECORD, AND OTHER SENIOR ENCUMBRANCES. John J. Hearn Joseph M. Strickland As Master in Equity for Richland County Attorney for Plaintiff 006951-00950 Website: www.rtt-law.com (see link to Resources/Foreclosure Sales) A-4557434 01/15/2016, 01/22/2016, 01/29/2016