SFV FINANCE

Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...

L.A. County Unemployment Holds at 4.4 Percent

L.A. County’s unemployment rate remained unchanged in June from May’s record low 4.4 percent as a seasonal drop in education payrolls offset modest hiring in other sectors.

Preview: Pain of Going Public

Running a public company – once the Holy Grail of entrepreneurial success and prestige – has become a fading star with the diminishing light especially apparent in markets such as the Valley region.

Former Ginnie Mae Exec Joins PennyMac Board

Theodore W. Tozer, the former president of the Government National Mortgage Association or Ginnie Mae, will join the board of PennyMac Financial Services Inc., the company announced Wednesday.

Preview: Top Female Entrepreneurs

Women-owned businesses are “having a moment.”

B. Riley Closes Wunderlich Acquisition

B. Riley Inc. has completed its acquisition of Wunderlich Securities, a wealth management firm based in Memphis, Tenn.

L.A. County Unemployment Falls to Record Low

L.A. County’s unemployment fell to a new record low of 4.4 percent in May amid steady job gains, state figures released Friday show.

L.A. County Unemployment Rate Falls to 4.5 Percent

L.A. County’s unemployment rate fell to another new low of 4.5 percent in April, but in a sign that the local economy is close to full employment, employers in the county reversed their hiring trends and shed a net 7,000 jobs last month, state figures released Friday show.

PennyMac Disappoints, Shares Fall

PennyMac Financial Services Inc. in Westlake Village reported first-quarter earnings and revenue Thursday that fell short of analysts’ expectations, causing a 7.5 percent drop in its share price.

Last-Minute Deal Averts Writers Strike

The Writers Guild of America reached a tentative deal with the Hollywood studios and networks to avoid its members going on strike.

Mission Valley Bank Reports Strong Quarter

Mission Valley Bancorp had strong earnings in the first quarter, which was partially attributed to the sale of small business loans on the secondary market.

B. Riley to Manage Hedge Funds

B. Riley Financial Inc. will take over the management of Dialectic Capital Management hedge funds, the Woodland Hills finance company announced Monday.

Great American to Liquidate Bebe Stores

Women’s apparel retailer Bebe Stores Inc. will close all of its retail stores before the end of the third quarter, according to Securities and Exchange Commission filings. Liquidation firm Great American Group, a subsidiary of B. Riley Financial Inc. in Woodland Hills, will oversee the sale of Bebe’s assets in conjunction with Tiger Capital Group.

Great American, KKR Arranges Credit for Sears Canada

Great American Capital Partners, a subsidiary of B. Riley Financial Inc. in Woodland Hills, and KKR Capital Markets have agreed to provide a secured loan to Sears Canada for about $220 million.

NewMark Properties Access In-House Refinancing

Woodland Hills retail developer and property management firm NewMark Merrill Co. has provided two of its shopping centers with nearly $27 million in refinancing.

Home Loan Scammer Convicted

The operator of a home loan modification scam in Santa Clarita has been convicted of grand theft and white collar crime, according to the California Board of Equalization.

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