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Report: BofA Given Penalty Relief for Mortgage Settlement

Report: BofA Given Penalty Relief for Mortgage Settlement

The U.S. Securities and Exchange Commission (SEC) agreed to partially waive the additional sanctions that could have been imposed on Bank of America following a record settlement in August over the sale of residential mortgage-backed securities, according to sources familiar with the case in a report from Bloomberg News.

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Leading Economic Indicators Beat October Forecast

Leading Economic Indicators Beat October Forecast

The Conference Board's Leading Economic Index (LEI), a measure of economic growth expectations for the coming months, increased 0.9 percent in October to a reading of 105.2, the group reported Thursday. The spike follows a 0.7 percent increase in September and a flat reading in August.

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Inventory Improves in October, but Affordable Homes Still Scarce

Inventory Improves in October, but Affordable Homes Still Scarce

In its latest market update, Zillow reported that the number of for-sale homes nationwide rose 15.8 percent year-over-year in October. While the increase may be welcome news for home shoppers in some of the country's most supply-starved metros, the number comes with a catch: The biggest gains were seen in the highest price tier of homes.

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Five Star President Outlines Looming Mortgage Threat

Five Star President Outlines Looming Mortgage Threat

Delivering comments to a group of REO brokers and agents, Ed Delgado, president and CEO of the Five Star Institute, offered his take on how the stage is set for the mortgage sector in 2015. "There are several embedded risks in the mortgage market that pose future risk of performance that have yet to be expressed," Delgado remarked. "In effect, the market may not be recovering at the rate that we think it is."

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Mortgage Rates Drop for Second Week

Mortgage Rates Drop for Second Week

In its Primary Mortgage Market Survey, Freddie Mac recorded the average 30-year fixed interest rate at 3.99 percent (0.5 point) for the week ending November 20, just down from an average of 4.01 percent last week. Last year at this time, the 30-year fixed-rate mortgage (FRM) averaged 4.22 percent.

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