Headlines

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.

Salt Lake City-based mortgage document preparation vendor International Document Services, Inc. (IDS), announced that it passed the Service Organization Control (SOC) 2 audit with no exceptions.

A new customer satisfaction survey released by J.D. Power breaks down the top priorities among clients working with real estate brokerages, ranking the customer/agent relationship as most important factor for homebuyers—particularly first-timers, who benefit most from clear communication, says Christina Cooley, director in the diversified services industries practice at J.D. Power.

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.

Mortgage bankers group Lenders One released Tuesday the results of new study on loan officer retention conducted by Majestic Consulting. According to the results, most loan officers would be willing to leave a higher-paying position if they feel management at another company has a better grasp on fulfillment and business development.

As home prices continue to recover nationwide, a new study from the National Association of Home Builders (NAHB) suggests even a small increase in new home prices can leave hundreds of thousands of prospective buyers out in the cold.