In California, JMAC Lending has expanded its operations with the launch of a new non-delegated correspondent platform.

A slower than anticipated first half has killed off any enthusiasm economists had for housing at the start of 2014, a survey published by the Wall Street Journal finds. In the Journal's latest monthly survey, a panel of economic experts called for new housing starts to average a seasonally adjusted annual rate of 1.01 million this year, a 9 percent decline from their prediction at the beginning of the year.

In its latest National Housing Survey, Fannie Mae found housing sentiment among U.S. consumers was down in July compared to recent months, with fewer expecting continued growth. According to the findings, only 42 percent of Americans surveyed said they expect home prices to keep rising over the next year, continuing a downward trend that started in April.

Nearly three months after first settling into the 4.10 percent to 4.20 percent range, long-term fixed mortgage rates continue to show little movement. According to Freddie Mac's weekly Primary Mortgage Market Survey, the 30-year fixed mortgage rate this week came to an average 4.14 percent (0.7 point), up slightly from 4.12 percent in the last survey.

The U.S. government is set to see another $5.6 billion from Fannie Mae and Freddie Mac as both GSEs continue to post solid earnings. Both companies released on Thursday their earnings reports for the second quarter, reporting subdued profits compared to recent quarters as settlement earnings and other previous one-time benefits subside.

Bank of America and the Justice Department are close to completing a long-rumored and record-setting deal to resolve allegations of misconduct sales of mortgage-backed securities that went bad, according to a report from the Wall Street Journal.

In its June National Housing Trend Report, Realtor.com reported the national housing market continued to gain some strength as summer got under way, though the rate of recovery dimmed somewhat. While current and seasonal trends would suggest home sales will see a slowdown in the coming months, national indicators are masking some of the activity happening in individual markets, says Jonathan Smoke, chief economist for Realtor.com.

Single-family home sales in the Constitution State totaled 2,799 in June, according to the Warren Group, marking a 5.8 percent increase from a year ago. It was the fourth time so far this year that home sales have performed better annually. Throughout the entire second quarter, sales totaled 6,679, down nearly 5 percent compared to the year-ago period.

According to data reported by the Mortgage Bankers Association (MBA) and compiled by Capital Economics, mortgage application volumes slipped an additional 3.4 percent in July following June's 0.1 percent decline. Declines were nearly even in both purchase loan volumes, which fell 3.6 percent, and refinances, which were down 3.3 percent.

LRES' former CFO, Don Mask, has transitioned into the role chief administration officer (CAO) and chairman, according to a company announcement.