Citing declines in application activity and increases in interest rates, the Mortgage Bankers Association (MBA) is lowering its forecast for origination volumes in 2014, the group announced.
Read More »Fannie Looks for Continued Growth in New Home Activity
Fannie Mae released on Monday its latest forecast, predicting overall GDP growth of 2.9 percent in 2014 following 2013's expected growth of 2.6 percent.
Read More »ValuTrac Appoints VP of Sales
ValuTrac, a software solutions company catering to the appraisal management and mortgage lending industry, hired Hank Pruett as VP of sales. Pruett has nearly 25 years of experience in appraisal management, title issues, and client relations and is knowledgeable in all types of appraisals, both residential and commercial.
Read More »Credit Plus Expands Debt Verification Offerings
Credit Plus, a mortgage information company with headquarters in Maryland, announced it has expanded its Undisclosed Debt Verifications service to offer updates from all three credit bureaus.
Read More »More Homes Bounce Back from ‘Deeply Underwater’ Status
According to RealtyTrac's latest data, approximately 9.3 million residential properties in December had a combined loan amount at least 25 percent higher than their market value. The figure represents about 19 percent of all properties with a mortgage. That number was down from 10.7 million deeply underwater homes (about 23 percent of all properties) in September and 10.9 million (26 percent) at the beginning of 2013. Meanwhile, the number of "equity-rich properties" grew to 9.1 million.
Read More »Investors Dial Up Market Presence in November
Having fallen to 16.6 percent in August, investor share in the purchase market picked up to 18.8 percent (based on a three-month rolling average), according to the latest survey. Investors increased their purchases of non-distressed properties; although, they remained the biggest purchasers of distressed properties. HousingPulse reports investors contributed to 13.2 percent of non-distressed home sales in November, marking a seven-month high.
Read More »Will Fourth-Quarter Earnings Meet Expectations?
According to a market report from FBR Capital Markets, bank stocks managed to outperform compared to many others. FBR says the improvement stemmed from rising investor expectations in response to interest rates moving higher and the economy showing signs of improvement. "However," FBR says, "we believe most banks will not be able to live up to these expectations as loan growth remains weak, pressures on margins still exist, and mortgage banking results should remain relatively poor."
Read More »Hard-Hit Metros Continue to Outperform in December
The markets that were worst hit in the housing crisis remain among the top performers in the recovery, according to Trulia.
Read More »Wingspan Portfolio Advisors Appoints 30-Year Veteran as COO
Wingspan Portfolio Advisors, a diversified mortgage services company headquartered in Texas, named longtime industry expert Arleen Scavone to the newly created post of COO.
Read More »December Jobs Report Shows Paltry Growth, Plunge in Labor Force
The Bureau of Labor Statistics (BLS) released Friday its Employment Situation Report, revealing job growth well below consensus forecasts. According to the government report, the U.S. economy added 74,000 jobs last month. Meanwhile, the unemployment rate dropped 0.3 percentage points to 6.7 percent, reflecting a precipitous drop in the labor force. BLS' report shows the labor force participation rate falling 0.2 percentage points to 62.8 percent.
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