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Daily Dose

Nationstar Reports Net Loss of $48 Million for Q1

Nationstar Mortgage Holdings reported a net loss of $48 million, or $0.53 per share, for the first quarter of 2015 compared with a net income of $19 million ($0.21 per share) for the previous quarter, according to an announcement from the Lewisville, Texas-based residential mortgage servicer on Tuesday morning.

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Report: Home Prices Rise 5.9 Percent from Last March

According to the March 2015 CoreLogic Home Price Index (HPI), home prices, including distressed sales, have increased by 5.9 percent in March 2015 in comparison with March 2014. Short sales and REO transactions are both included in distressed sales.

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First Quarter Net Income Nearly Doubles for Freddie Mac

Freddie Mac's net income for the first quarter of 2015 totaled $524 million, nearly double the total of a profitable but somewhat slow fourth quarter, according to Freddie Mac's Q1 2015 Financial Report released Tuesday morning. It marked the 14th consecutive quarter of profitability for Freddie Mac.

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Homeownership Escapes Low Earners

According to a study released by Zillow, low income and rising home values have made homeownership unaffordable and unattainable for the country’s lowest paid workers. Over the past two years, one-third of Americans have not been able to afford homes due to low wages. As the housing market recovered, incomes did not.

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Report: Lenders’ Share of Purchase Volume Picks Up in March

Lenders' share of mortgage purchase volume increased for the first time in 2015, jumping 5 percent according to the latest Origination Insight Report released by Ellie Mae, a leading provider of on-demand software solutions and services for the residential mortgage industry. The report found that purchases represented 46 percent of lenders’ overall volume in March, compared to 53 percent in mortgage refinancing volume.

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OCC Announces Bank, Federal Savings Association Growth in South

Financial conditions are improving in the Southern United States, according to a report released by the Office of the Comptroller of the Currency (OCC). The report, which details the performance of national banks and federal savings associations (FSAs), showed that nine states in the OCC’s Southern District showed improvement in 2014. Those states included Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, Oklahoma, Tennessee and Texas.

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