The National Association of Home Builders├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ó (NAHB) 55 single-family Housing Market Index (HMI) jumped year-over-year for the sixth consecutive quarter in Q1, the association reported. As of the end of March, the index rested at 46, 19 points above the same period last year and the highest first-quarter number recorded since the inception of the index in 2008. There are two separate 55+ HMIs to represent two segments of the market: single-family homes and multifamily condominiums.
Read More »Bank Collapse Total Climbs to 12
Pisgah Community Bank (Asheville, North Carolina) and Sunrise Bank (Valdosta, Georgia) became the 11th and 12th federally insured banks to fail in the nation this year, FDIC announced.
Read More »Former BofA Exec Joins Stearns Lending
Louie Colatriano, formerly of Bank of America, has joined Stearns Lending as SVP of margin management, the firm announced. In his role, Colatriano will lead efforts to profitably grow originations and maximize mortgage production margins across all business channels with a special focus on Stearns' strategic alliance business partners.
Read More »Redfin: Market Competition Cools in April
While competition over available homes remains fierce in many areas around the country, the latest Bidding War Report from Redfin shows some markets cooled off a bit in April.
Read More »Farris Law Group Hires 3 New Members to Steer Growth
Texan law firm Farris Law Group, PLLC announced the hiring of three new team members to focus on the company's growth and expansion, especially in the mortgage document preparation department.
Read More »Retail Sales Rise in April; Building Material Sales Jump
Driven by stronger auto sales (but held back by falling gasoline prices), total retail sales increased an unexpected 0.1 percent in April, the Census Bureau reported Monday. Economists had expected sales to fall 0.3 percent. Sales at building material and supply stores jumped $389 million for the month, a 1.5 percent increase--the largest month-over-month increase since September. Sales at furniture and home furnishings stores were flat to March. Those two retail categories have a direct relationship to home sales.
Read More »Commentary: Seven Little Words
When the Federal Open Market Committee completed its two-day meeting at the beginning of May, it issued the usual six-paragraph post-meeting statement.
Read More »Regulations May Preclude Borrowers with Lower Credit Scores
As the housing market experiences a burgeoning recovery with rising prices, an uptick in sales, and an increase in housing starts, Federal Reserve Governor Elizabeth A. Duke points out purchase-originations remain "subdued," especially among individuals with less than stellar credit scores. While originations are down across the board, "[t]he drop in originations has been most pronounced among borrowers with lower credit scores," Duke said at the Housing Policy Executive Council Thursday in Washington, D.C.
Read More »CoreLogic, QuestSoft Partner to Expand Access to LoanSafe
CoreLogic, based in Irvine, California, announced the availability of its LoanSafe suite of risk mitigation solutions through seven different loan origination systems (LOS).
Read More »zIngenuity Launches Redesigned Website
zIngenuity, a risk management and mortgage fulfillment services provider based in the Dallas area, has reinvented its website to align with its current services offerings, the company announced.
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