Fannie Mae's book of business shrank in August at its steepest rate in more than a year, according to the company's latest volume summary. The company reported a compounded growth rate of -4.0 percent in its book for August, putting its total value down to $3.1 trillion. It was the ninth straight month of contraction.
Read More »Chase Claims $868M in Consumer Relief Credit
JPMorgan Chase reports it has completed nearly a quarter of its consumer relief obligations required under a landmark mortgage-backed securities (MBS) settlement last year. According to a report issued Wednesday by the settlement's monitor, Joseph Smith Jr., the megabank expects to be credited for more than $862 million it provided through various borrower relief measures in the second quarter.
Read More »Ellie Mae Completes Acquisition of AllRegs
California-based mortgage technology provider Ellie Mae announced Wednesday it has completed its acquisition of AllRegs, one of the industry's leading information companies.
Read More »LenderLive Recruits 25-Year Mortgage Vet for Regional Account Manager
Mortgage services firm LenderLive Network welcomed to its staff Dan Biebel, the company's newest regional account manager.
Read More »Mortgage Rates Slip in Latest Measures
In its Primary Mortgage Market Survey for the week ending October 2, Freddie Mac reported a minor pullback in the 30-year fixed interest rate to an average 4.19 percent (0.4 point) from last week's 4.20 percent. The average 30-year fixed was also little changed from last year's average rate of 4.22 percent.
Read More »Judge Dismisses Investor Lawsuits Over GSE Profits
Judge Royce Lambert dismissed lawsuits filed in 2013 by investors at Fairholme Funds, led by Bruce Berkowitz, and Perry Capital with regards to the government's "sweeping" of GSE profits into the U.S. Treasury. The investors believed that the diversion of GSE profits created a "windfall" for the government while short changing GSE shareholders.
Read More »Construction Spending Turns Down in August
In a report on Wednesday, the Commerce Department estimated construction spending for the month of August was at a seasonally adjusted annual rate of $961.0 billion, a decrease of 0.8 percent from July’s revised estimate of $968.8 billion. The drop included a 0.1 percent falloff in private homebuilding from July, though the much smaller public residential construction category saw a 3.3 percent increase.
Read More »Northeast, Midwest Metros Top List of Hottest Millennial Markets
In a report earlier this week, online listings site Realtor.com observed a largely steady trend line in housing market indicators in August, with prices leveling out from month to month and limited inventory dipping slightly. Demand was most evident among the country's millennial population. However, with relatively few homes on the market, prices pushing upward, and lending standards still tight, few in that group have been able to make the jump to homeownership.
Read More »Aspen Grove Solutions Hires VP for Industry Relations, Account Management
Aspen Grove Solutions announced the addition of Chuck Sockol to its team as VP of industry relations and account management.
Read More »Home Price Growth Expected to Continue Slowing
In a recent analysis released by Kroll Bond Rating Agency (KBRA), senior managing director Christopher Whalen predicts many metros around the country will see home price appreciation switch to a much slower track—or even decline modestly, in some cases—as the factors directing the momentum of the last few years diminish and fundamental drivers start playing a bigger role.
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