The Thomson Reuters/University of Michigan Index of Consumer Sentiment came in at 79.2 in the preliminary August reading, down from a final reading of 81.8 in July and several points below the consensus forecast of 82.3. It was the lowest reading since last November, when the country was still shaking off the effects of October's government shutdown.
Read More »Groups Offer Guidance on Proposed G-Fee Hike
As the Federal Housing Finance Agency (FHFA) mulls over a proposed increase in guarantee fees, a new report from the Urban Institute (UI) suggests the agency faces a more difficult task than one might assume. In a commentary released Thursday, UI authors Laurie Goodman, Ellie Seidman, Jim Parrott, and Jun Zhu say that, based on their modeling, g-fee determination "is an art, not a science—and more like a Jackson Pollock than a da Vinci."
Read More »Informative Research Brings on Director of Portfolio Solutions
Informative Research, a mortgage information services provider, has appointed Jane House as director of portfolio solutions, the company announced.
Read More »Stewart Completes Acquisition of DataQuick Valuation Line
Houston-based real estate services firm Stewart announced it has completed its acquisition of DataQuick Lending Solution's valuation services line, marking the company's first step into the collateral valuations business.
Read More »Cash Sales Share Hits 4-Year Low
Home sales transacted in cash slipped again in May, falling to a four-year low but remaining elevated compared to the long-run average. According to sales data put together by CoreLogic, cash sales made up 34.4 percent of total home sales in May, down from 37.4 percent a year prior. It was the lowest share since May 2010, when all-cash sales started ramping up to an eventual peak of 46.2 percent in January 2011.
Read More »Caliber Appoints SVP for National Builder Division
Caliber Home Loans, Inc., introduced a new leader in its National Builder Division, naming Michael Brown as SVP.
Read More »80% of Lenders Shy Away from Non-QM Business
In a follow-up piece on the company's inaugural Mortgage Lender Sentiment Survey, Li-Ning Huang, senior manager of Economic and Strategic Research at Fannie Mae, found that most of the lenders surveyed don't plan to change their current strategy in response to January's regulatory changes, with 46 percent saying they plan to "wait and see" what happens in the market before acting.
Read More »Shareholder Firm Files Class Action Against Ocwen
In a complaint filed with the U.S. District Court for Southern Florida, the Law Offices of Howard G. Smith, a firm focused on representing investors, accused the Atlanta-based mortgage company of failing to disclose to its shareholders that its servicing practices "violated applicable regulations and laws" and that its executives were involved in funneling millions of dollars in fees through Altisource Portfolio Solutions, a related company.
Read More »Global DMS, Platinum Data Announce Platform Integration
California's Platinum Data Solutions and Pennsylvania's Global DMS have come together to create a faster and easier way for valuation professionals to access appraisal quality and compliance analytics.
Read More »FHFA Requests Input in Building Common GSE Security
In the first step of what is planned to be a multi-year effort, the Federal Housing Finance Agency (FHFA) has put out a request for industry input on the development of a common mortgage-backed security (MBS) designed to be issued and guaranteed by Fannie Mae or Freddie Mac.
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