According to a quarterly report from the National Association of Realtors, median existing single-family home prices increased in 71 percent of measured markets last quarter, with 122 out of 173 metros posting annual increases from Q2 2013. Nineteen of those areas reported double-digit increases. Those numbers reflected a slowdown from the first quarter, when prices rose in 74 percent of metros, and 37 areas saw gains higher than 10 percent.
Read More »Walter Investment Reports Unadjusted Loss for Q2
Walter Investment Management announced Monday that the company experienced a net loss of $12.9 million for Q2 2014. The company's net income was $45.0 million after adjustments made for goodwill impairment charges in the reverse mortgage segment and reductions in the company's servicing rights' fair value, regarding chances in valuation inputs.
Read More »Vantage Production Introduces Retail Sites Solution
Vantage Production, a customer relationship management (CRM) solutions provider with headquarters in New Jersey, announced the launch of Vantage Retail Sites, the first website in a series designed to help lenders drive Internet sales while maintaining compliance controls.
Read More »Home Price Expectations Down Slightly
Over the next 12 months, Americans expect median home prices to rise 3.87 percent, according to the latest data from the Federal Reserve Bank of New York. That figure is down slightly from the New York Fed's June survey, marking the second consecutive month of declining price change expectations. The decline is in line with Fannie Mae's most recent National Housing Survey, which showed a decline in expected price growth to 2.3 percent.
Read More »FHA Commissioner to Step Down
Less than two years after being confirmed as the head of the Federal Housing Administration (FHA), Commissioner Carol Galante is making plans to step down from her post.
Read More »ALFN Promotes from Within for New President and CEO
The American Legal and Financial Network (ALFN), a national network of legal and residential mortgage banking professionals, announced on that its COO, Matt Bartel, has been promoted to be the president and CEO of the organization.
Read More »As Draw Periods Close, HELOCs Present Elevated Threat
Now that so many of the once-popular home equity lines of credit (HELOCs) are coming due, many borrowers could be in for what TransUnion calls "payment shock." A new study by the credit reporting agency shows that nearly half of all HELOC balances at the end of 2013—totaling about $474 billion—were originated between 2005 and 2007. Many of these HELOCs had 10-year draw periods, which means that the bill will soon come for those borrowers.
Read More »Fed’s No. 2: Housing a Factor in ‘Disappointing’ Recovery
Speaking at a conference in Sweden Monday morning, Stanley Fischer, vice chairman of the Fed and former governor of the Bank of Israel, admitted that the global recovery from the recession has been disappointing at best, noting that economic growth among the world's most advanced economies has underperformed compared to previous post-recessionary periods.
Read More »Survey: Older Buyers Ready to Enter Single-Family Market as Home Sales Rise
Despite a decline in home starts in June, homebuilder confidence in the single-family, 55+ market is on the rise. In fact, the second quarter marked the 11th consecutive year-over-year increase in confidence in this sector, according to the National Association of Home Builders (NAHB).
Read More »Fifth Third to Pay $1.52M in Discrimination Settlement
Fifth Third Bancorp has reached a settlement agreement with the Justice Department in which it will pay more than $1.5 million over allegations of loan discrimination against applicants with disability status. "Today's announcement holds lending institutions accountable for their actions, and is a reminder that every American has the right to apply for a home loan and live in the community of their choice," said Gustavo Velasquez at HUD.
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