While home sales prices posted moderate gains in September, the housing market recovery as a whole is moving slowly, according to the Wells Fargo Economics Group Housing Wrap Up for October 2014.
Read More »GSE Reform in a Post-Midterm Congress
To say the Republicans have an uphill battle ahead where GSE reform is concerned is an understatement. The president has the power of the veto pen and while both sides have vowed to work together on areas that they can disagree, the extent to which he would support major Republican led legislation remains to be seen.
Read More »Legal League 100 Board Discusses Issues Facing Financial Services Industry
The Legal League 100 Advisory Board met Wednesday in Washington, D.C., to plot the path forward for serving the default servicing and financial services legal community in the coming year.
Read More »IDS Creates Integrations Team for Doc Prep System
International Document Services (IDS), a Salt Lake City, Utah-based mortgage document preparation vendor, announced the formation of an internal team with the sole function of developing and maintaining integrations between idsDoc, the IDS flagship document preparation system, and the company's third-party vendors.
Read More »Growing Non-Mortgage Debt Weighing on Homeownership
In an analysis of housing affordability in 512 U.S. counties, RealtyTrac discovered that lowering the down payment for a conventional mortgage loan from 20 percent to 3 percent would still not translate to housing affordability for a majority of those with non-mortgage debt such as student loans or a car payment.
Read More »Private Employers Add 230K Jobs in October
The number of jobs in the private sector increased by 230,000 from September to October, according to the latest report from ADP. October's growth was the highest since June and the second highest so far this year, said ADP's president and CEO, Carlos Rodriguez.
Read More »Federal Judge Knocks Down ‘Disparate Impact’
U.S. District Judge Richard Leon ruled this week that only claims of direct, intentional discrimination could be made under the Fair Housing Act, which was passed in 1968. While the Fair Housing Act does not specifically state it allows disparate claims lawsuits, courts have allowed them for years.
Read More »Fannie, Freddie Name CEO for Common Securitization Company
Fannie Mae and Freddie Mac jointly announced that David M. Applegate will be the first CEO of Common Securitization Solutions (CSS), which was created by the GSEs to operate a new secondary mortgage market infrastructure, Common Securitization Platform (CSP).
Read More »Survey: Student Loans a ‘Key Obstacle’ in Purchasing Homes
NeighborWorks' Second Annual America at Home Survey showed that student loan debt and perceived overtightness of lending has prevented or delayed homeownership despite the fact that 60 percent of American adults surveyed said owning a home was either "the most important" or a "very important" part of the American dream.
Read More »Pershing Square CEO Drops One of His GSE Suits
Pershing Square Capital Management filed a voluntary notice of dismissal in the U.S. District Court for one of its lawsuits against the federal government over the sweeping of GSE profits into the U.S. Department of the Treasury.
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