Headlines

Economic growth in the second quarter fell short of July expectations, presenting a less promising outlook for the rest of the year, according to Fannie Mae’s August 2015 Economic and Housing Outlook.

Fannie Mae and Freddie Mac have surpassed the credit risk transfer goals set by their conservator in just three years. According to the FHFA's Overview of Fannie Mae and Freddie Mac Credit Risk Transfer Transactions for August 2015 released Friday, the GSEs transferred significant credit risk on loans totaling more than 667 billion dollars in unpaid principal balance.

Many housing experts feel that millennials are not as interested in homeownership than previous generations and prefer the freedom of renting instead, according to Fannie Mae commentary by Sarah , strategic planning analyst for Fannie Mae's Economic and Strategic Research Group.

The Federal Deposit Insurance Corp. has sued Bank of New York Mellon, claiming that the bank breached its duties as bond trustee for $2.06 billion worth of residential mortgage-backed securities purchased by an FDIC-insured bank in Texas which later failed.

Existing-home sales rose higher in July, while low inventory levels and rising prices are the largest factors lowering sales to first-time buyers to their lowest share since January, according to a report from the National Association of Realtors released Thursday.

The Federal Housing Finance Agency announced a final rule establishing the housing goals for Fannie Mae and Freddie Mac for both single-family and multifamily housing.

The minutes from the July 28-29, 2015 Federal Open Market Committee (FOMC) meeting released Wednesday confirmed that the economy is still unprepared for a hike in the federal funds rate, but the increase is imminent.

MCS Valuations (MCSV) has announced the closing of its Sandy, Utah, office. The company will move of all of its operations to the Mortgage Contracting Services (MCS) headquarters in Plano, Texas, and MCS offices in Tampa, Florida, and Ruston, Louisiana.

DocMagic, Inc., recently named Gavin T. Ales as its chief compliance officer, according to announcement from the company.

Zillow Group recently announced two key executive promotions. According to the announcement, Kathleen Philips, who has been the company's COO since 2013, has been named CFO of Zillow Group. In addition, Amy Bohutinsky, who has been chief marketing officer since 2011, has been promoted to COO of Zillow Group.