According to data taken from the Mortgage Bankers Association (MBA) and compiled by Capital Economics, total application volume plummeted 22.5 percent in June.
Read More »First-Time Jobless Claims Continue Downward Trend
First-time claims for unemployment insurance fell for the fourth time in the last five weeks, dropping 5,000 to 343,000 for week ending June 29, the Labor Department reported Wednesday. The four-week moving average of first-time claims dropped 750 to 345,500. The four-week moving average of continuing claims declined 9,500 to 2,969,250 for the period ending June 22.
Read More »Forecast: Prices to Rise in Most Top-50 Metros in Second Half of 2013
Forty-five of the top 50 metropolitan markets will experience yearly price increases during the second half of the year, according to Clear Capital's Home Data Index Market Report.
Read More »Nationstar-Serviced RMBS to Take Hit on Revised Losses
Nationstar Mortgage announced it is revising losses on loans with principal forbearances acquired in 2012 from Aurora Bank FSB and Aurora Loan Services.
Read More »Carrington Recognized for Enhancing Learning Services
Carrington Mortgage Holdings, LLC announced it has been recognized with a 2013 Innovation Award for Enhancing Learning Services by Skillsoft.
Read More »Officers at Arizona Mortgage Firm Sentenced for Roles in $28M Fraud
A North Dakota judge sentenced two officers from an Arizona mortgage originator for their roles in a $28 million scheme to defraud North Dakota-based BNC National Bank.
Read More »Top Regional Sales Manager Heads to Stearns Lending
Stearns Lending, Inc., a California-based lender with retail, wholesale, and correspondent business channels, announced the appointment of Mike Liane as regional sales leader for the retail division.
Read More »May 2013 Construction Spending Climbs 0.5%
A report released Monday by the Census Bureau revealed an estimated annual rate of $874.9 billion (seasonally adjusted) for construction spending in the month of May 2013. Private residential construction spending was at a seasonally adjusted rate of $322.3 billion, 1.2 percent higher than the $318.5 billion revised April estimate. The month's nonresidential construction spending showed an annual rate of $238.1 billion, down 1.4 percent from the revised April estimate of $287.1 billion.
Read More »Price Gains Stay on Fast Track in May
Home prices continue to see significant gains as inventory limits buyers, CoreLogic said in its latest Home Price Index (HPI) report. The index rose 12.2 percent (including distressed sales) year-over-year in May, once again marking the biggest annual increase since 2006. Excluding distressed sales, prices were up 11.6 percent over May 2012. Looking at the top 100 core-based statistical areas (CBSAs) measured by population, 97 showed year-over-year gains in May, CoreLogic reported--up from 94 in April.
Read More »Fitch Analyzes GSE Credit Risk as Risk-Sharing Transactions Approach
In an effort to help investors "evaluate upcoming credit-sensitive securitization proposals from the GSEs," Fitch Ratings completed an analysis of credit performance data in a recent report.
Read More »