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Author Archives: Tory Barringer

Tory Barringer began his journalism career in early 2011, working as a writer for the University of Texas at Arlington's student newspaper before joining the DS News team in 2012. In addition to contributing to DSNews.com, he is also the online editor for DS News' sister publication, MReport, which focuses on mortgage banking news.

Housing Starts Rise After August Stall

According to a joint release from the Commerce Department and HUD, homebuilders broke ground on new projects at a seasonally adjusted annual rate of 1.02 million last month, 6.3 percent above August's revised estimate of 957,000 (just barely up from the government's initial estimate).

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DocMagic Acquires eSignSystems

DocMagic, Inc., a provider of compliant loan document preparation and eSign and eDelivery solutions, announced its acquisition of electronic software solutions firm eSignSystems from WAVE Systems Corp.

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Global DMS Launches Enhanced Mobile App for Appraisers

Global DMS, a provider of Web-based compliant valuation management software, announced the launch of Appraisal Tracking On Mobile (ATOM), a new app designed to improve appraisers' field productivity by enhancing their ability to communicate and access information.

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Mortgage Rates Sink to 16-Month Lows

Freddie Mac released Thursday the results of its weekly Primary Mortgage Market Survey, showing the average 30-year fixed interest rate dropping 15 basis points to 3.97 percent (0.5 point) for the week ending October 16. The week's average marks the lowest level for the 30-year fixed-rate mortgage (FRM) since the week of June 20, 2013—which also happens to be the last time it averaged below 4 percent.

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Builder Confidence Ends Growth Streak in October

The National Association of Home Builders' (NAHB) index of builder sentiment fell in October, ending a four-month streak of gains that resulted in a nine-year peak. The group's Housing Market Index, a measure of homebuilder confidence in the market for newly built, single-family homes, lost five points in this month’s reading, bringing it to 54. An index value above 50 indicates market perceptions are more positive than negative.

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Home Price Gains Accelerate in August

Monthly home price appreciation gained steam in August even as a growing number of markets reported declines, according to FNC, Inc. The company's Residential Price Index (RPI) posted national growth of 0.8 percent in August, accelerating from July's 0.6 percent increase. Not all cities saw an acceleration, however.

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Beige Book: Economic Growth Steady, Real Estate Mixed

The economy continued to grow on a "modest to moderate" track over the last month, with consumer spending and job growth fueling improvements in other economic sectors, according to the latest update from the Federal Reserve. With two weeks to go until the Federal Open Market Committee's next policy meeting, Wednesday's report further bolsters the popular prediction that the central bank will vote to end its monthly bond-buying program.

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Mortgage Apps Jump Following Topple in Interest Rates

The Mortgage Bankers Association (MBA) reported a 5.6 percent increase in its mortgage applications index for the week ending October 10. The headline index got a boost from refinancing applications, which surged 11 percent over the week as the average 30-year fixed mortgage rate dropped to 4.20 percent, its lowest in more than a year.

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Compliance, Risk Management Concerns Continue to Build

In a report released Wednesday, Wolters Kluwer Financial Services (WKFS) said its Regulatory & Risk Management Indicator increased again to 128, reflecting a 28 percent rise since its baseline score established in January 2013. Looking at compliance challenges, 72 percent of banker respondents listed "maintaining compliance with changing regulations" as one of their top concerns, up from 67 percent at the start of last year.

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