In March, investors accounted for 13.3 percent of the market share for non-distressed properties, while current homeowners represented 50 percent of the market.
Read More »LPS: Home Prices Up 1% in February
Lender Processing Services' (LPS) Home Price Index rose 1 percent in February to $210,000, the company reported. Currently, prices are 20.6 percent below the June 2006 peak of $265,000. California cities dominated the top 10 list for metro area price gains, with 9 out of ten metros representing the state. Price decreases were also concentrated. According to LPS data, five out of the six states where prices fell month-over-month were in Connecticut.
Read More »CFPB Makes Leadership Changes
The Consumer Financial Protection Bureau (CFPB) announced two individuals were added to the bureau's leadership team, and two current staff members will be serving in different roles.
Read More »Cordray, Senate Committee Clash over CFPB Data Collection
Consumer Financial Protection Bureau (CFPB) director Richard Cordray faced a contentious Senate Banking Committee Tuesday for his semi-annual report to Congress. A particular point of debate was the joint effort between CFPB and the Federal Housing Finance Agency (FHFA) to establish a national mortgage database that includes information such as borrower profiles, payment history, and mortgage products and terms on loans--an idea one senator described as "creepy."
Read More »Xerox Mortgage Services Releases BlitzDocs Servicing
Xerox Mortgage Services announced the release of BlitzDocs Servicing to simplify the paperless mortgage process for lenders and servicers.
Read More »Freddie Mac Sees Strength in Construction as Other Sectors Flounder
Construction employment proved to be the silver lining in March's otherwise dismal job report, Freddie Mac says in its economic and housing outlook for April.
Read More »Reports Reject Claims of Possible Housing Bubble
While rapid price gains have some analysts issuing warnings about a housing bubble in the making, newly released reports argue that a repeat of the 2008 crash is unlikely.
Read More »FHFA Announces HARP Extension to 2015
The Federal Housing Finance Agency (FHFA) announced Thursday it is extending the life of the Home Affordable Refinance Program (HARP). Originally slated to expire at the end of this year, HARP will now expire December 31, 2015. The agency also announced it plans to launch a campaign in an attempt to reach more eligible borrowers for the program. While FHFA stated it can't provide "hard estimates" on the number of additional homeowners who are eligible, the hope is for a substantial number to be reached.
Read More »Specialized Business Software Launches Insurance Translation Tool
Specialized Business Software, a provider of custom software solutions for insurance, mortgage and financial services companies, announced the release of its web-based X12 EDI Translator.
Read More »Class Appraisal Names New Sales Manager
Class Appraisal, Inc. appointed a former mortgage banking executive to manage sales in the middle market. Tim Perkins was selected to lead the company as a consultant and business developer. Over the years, Perkins has held key positions with large mortgage banking companies such as Citigroup and JP Morgan Chase.
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