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Report: New-Home Sales Limp Over June

Fewer homebuyers purchased new single-family homes over June, the Census Bureau and HUD reported Tuesday, with sales falling to an annual rate of 312,000 from 315,000 the previous month. Economists say these numbers nonetheless reflect progress from February, when single-family sales hit a record low, while others point to a slowly vanishing foreclosure fleet. The report held that June sales amounted to 1.0 percent, plus or minus 12.5 percent, beneath revised May estimates, still 1.6 percent above estimates from June last year.

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Case-Shiller Levels Hopes for Price Rebound

A Standard & Poor's/Case-Shiller Home Price Index released Tuesday revealed slight bumps in home prices across composites collected for some 20 cities, with the nation's Capitol leading the way with an upward arc, even as existing-home sales flat-lined in June and single-family starts showed nominal signs of life. According to the index, 10- and 20-city composites jumped May over April by 1.1 percent and 1.0 percent, respectively, with only three in 20 assessments showing declines and Phoenix staying unchanged.

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CoreLogic Making Moves in India and U.S.

CoreLogic├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós international operations are making news in India, with the announcement that Cognizant will buy CoreLogic Global Services Pvt. Ltd. for a reported $50 million. The acquisition of CoreLogic Global, better known as CoreLogic India, will likely make Cognizant the third largest information technology services entity in the country, ousting Wipro Ltd. Lenders using the new program will benefit from a high level of customization, including the ability to tailor the alert system.

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Housing Markets Mixed as Debt Talks Splinter

As splintering debt-ceiling negotiations unnerved analysts and ratings agencies, Treasury yields and mortgage rates remained relatively stable over the weekend, reflecting a widespread consensus among investors and market watchers that partisan divisions would soon give way to a grand bargain between policymakers. CNN reported Sunday that House Speaker John Boehner (R-Ohio) refused to agree to a set of conditions at the White House, ending dramatic four-month-long negotiations.

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Fannie Forecasts Declines Over 2011, 2012

Fannie Mae released a July economic outlook Friday tying a slowdown in the economy at large to a sluggish pace in the housing sector a consequence of tight credit, a dearth in existing-home sales, and weak gains across important industries. The mortgage giant predicted a dip in growth over the rest of the year, falling from 2.8 percent to 2.4 percent. Besides restrained credit expansion, the tepid housing recovery is another reason for the modest pace of economic growth seen in the current recovery, Fannie said in the report.

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Mortgage Numbers Up for Fifth Third

Fifth Third Bancorp had a great spring season, judging by the company├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós scorching second quarter numbers. The bank estimates its quarterly results were the best on record since 2007, and the dramatic, 58 percent increase in mortgage banking revenue between the first and second quarters of this year contributed heavily to the company├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós recent success. Total net income during Fifth Third's second quarter was $337 million, demonstrating a significant rise quarter-over-quarter.

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BancTec Boasts New Platform

BancTec has rolled out an advanced mortgage servicing platform, geared toward new and existing lenders in need of accelerated and streamlined customer support, with considerable advantages for new users.

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Bankrate, Freddie Mac Post Conflicting Rates

On Thursday Bankrate and Freddie Mac released reports with varying conclusions about mortgage rates for this week, with the former posting a slight dip in 30-year fixed-rate mortgages and the GSE reporting few changes from last week. Publishing its Primary Mortgage Market Survey, Freddie Mac yielded a 4.52 percent with an average 0.7 percent for 30-year fixed-rate mortgages, a nominal increase from last week when the same rates lingered at 4.51 percent.

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Analysts: U.S. Default May Crimp GSEs, Close FHA

With recent reports signaling a throwback for public officials involved in debt-ceiling negotiations, housing analysts and market watchers worry about the possible fallout for government-backed mortgages in a default scenario come August. If the federal government defaults on its debt, analysts say, still-brittle mortgage markets will splinter as mortgage rates follow spikes in Treasury yields. Concerns continue to grow after a series of breakdowns between Congress and the White House.

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