Pending home sales loss more momentum in September 2015 for the second consecutive month due to scarce housing inventory, the National Association of Realtors announced Thursday.
Read More »Banks’ Business Strategies Implicated By “Lower-for-Longer” Interest Rates
U.S. banks' can expect their long-term business strategies to continue to be affected by the "lower-for-longer" interest rate environment that Fed officials have placed the industry in.
Read More »Home Builders Remain Optimistic Despite Market Stumbles
New home sales declines and a weak jobs report in September may have some a bit skeptical about the future of the housing market, but despite September's stumbles, home builders maintain their market confidence.
Read More »Ocwen Reports Net Loss of $66.8 Million in Q3
On Wednesday, Ocwen reported a net loss of $66.8 million for the third quarter in 2015 compared to a net loss of $75.3 million for the same quarter a year earlier.
Read More »Mortgage Loan Application Defects Lower in September
First American released their Loan Application Defect Index for September 2015 on Wednesday, which reflects estimated mortgage loan defect rates over time, by geography and by loan type, and estimates the frequency of defects in the information submitted in mortgage loan applications. According to the Index, loan defects in mortgage applications declined 1.2 percent from August to September. The Index is now down 20.6 percent from the high point of risk in October 2013.
Read More »Interest Rates Unchanged as Fed Holds on Increase Until Further Economic Improvement
As the Federal Open Market Committee reconvened Wednesday, results from their October 27th and 28th meeting placed yet another hold on the rate hike, leaving the federal funds rate at the current 0 to 1/4 percent target range.
Read More »Sustainable Homeownership Vital to Building Middle Class Wealth
Sustainable homeownership is the “gateway to the middle class” for many Americans and is the primary source of wealth creation for many, which is why increasing the homeownership rate is so critical to a healthy economy, according to a panel at a housing forum in Washington, D.C., on Tuesday.
Read More »Credit Unions’ Financial Services Restrained By Regulations
The National Association of Federal Credit Unions expressed their concerns surrounding credit unions’ efforts in rural communities and limitations they face due to regulatory restrictions prior to the Senate Banking Subcommittee hearing called “The State of Rural Banking: Challenges and Consequences” held Wednesday.
Read More »Mortgages Remain One of Top Three Issues in CFPB Complaint Report
The fourth volume of the Consumer Financial Protection Bureau's monthly complaint snapshot released Tuesday focused on one of its top three most complained-about financial product: mortgages.
Read More »Homeownership Rate Rises After Reaching 48-Year Low in Q2
Americans appear to be purchasing more homes as the U.S. homeownership rate has finally moved upward for the first time in two years in the third quarter of 2015, following a 48-year low hit the previous quarter, the Department of Commerce’s Census Bureau announced Tuesday.
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