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HUD Scorecard Touts Initiatives Despite Housing Health

Housing market conditions remained fragile despite numerous initiatives put forward by the Obama administration, according to a recent scorecard released Thursday by HUD and the Treasury Department. The administration cited numerous industry-respected analytics sources and painted a helpful portrait of the homeownership and refinance endeavors it has made possible. Sources polled for the government gauge of housing and economic health included CoreLogic and Standard & Poor's, among others.

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North Texas Hiring Hub for Lenders

Lewisville, Texas, will gain 700 new employment opportunities courtesy of JPMorgan Chase & Co. The financial institution is set to open a major mortgage servicing center in the area, adding to 2,000 area workers.

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Mortgage Rates Offer More Mixed News

Mortgage rates either stayed the same or plunged to record lows, depending on where market watchers obtained their news Thursday. Mortgage giant Freddie Mac and personal finance Web site Bankrate.com released separate figures, with the former seeing a static 30-year fixed-rate mortgage and the latter finding a new bottom for the benchmark loan. The 30-year loan went bottoms up, according to Bankrate.com, which posted a 4.37-percent low, down from 4.41 percent from the week earlier.

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JGWPT to Enter Reverse Mortgage Market

Private holding company JGWPT, which recently announced the acquisition of J.G. Wentworth and Peachtree Financial Solutions, has made another advancement, with the launch of its reverse mortgage division. The newly formed reverse mortgage segment will operate as part of the Peachtree group of companies and will be based in Boynton Beach.

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CoreLogic: Home Prices Inch Up in July

Home prices went up across the country in July, marking the fourth consecutive such month, according to a home price index released Wednesday by CoreLogic. While acknowledging the improvement as a net gain for the housing economy, the firm made predictions that home prices will slump on continuing news about an economic slowdown. CoreLogic found that home prices crawled forward by 0.8 percent month-over-month but fell year-over-year by 5.2 percent over July.

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BofA Plans to Close Mortgage Correspondent Unit

On the heels of attempts by investors to derail a mega settlement in the courts, Bank of America continued to shake up headlines Wednesday with multiple news outlets confirming that the mortgage giant plans to sell off its share of the correspondent mortgage market. With mortgage correspondents in the bank├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós unit set to soon receive their pink slips, multiple news outlets quoted suggested that some 3,500 could feel impact in their jobs. New job losses would follow recently reported second-quarter fallout.

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CMBS Deal for Deutsche Bank and Starwood

With its recent participation in a major commercial mortgage loan securitization, Starwood Property Trust, Inc. is enhancing its debt-related funding. The transaction, led by Deutsche Bank Securities, Inc., included four first mortgage loans contributed by Starwood, which when combined carried an aggregate principal balance of $154.

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Royal United Hiring on Heels of Expansion

In Indianapolis, Indiana, Royal United Mortgage LLC is creating more than 140 jobs with its planned expansion. The company recently announced its intention to install a new office in the north sector of the city, which will result in adding a high number of new employees between now and 2013.

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CoreLogic Gives Mortgage Builder More

A new offering from CoreLogic is set to boost Mortgage Builder Software├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós programming, with the recent addition of a CoreLogic-driven verification component that will allow for the integration of tax return income.

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