Hammerhouse LLC announced it has expanded its Eastern U.S. headquarters and brought on additional staff in order to meet the increased demands of its growing client base.
Read More »Zillow Mortgage Marketplace Now Available on iPad
Mortgage Marketplace is one of Zillow's app suite that features 15 realestate-related mobile apps across all major platforms. The app provides a transparent lending marketplace where borrowers can connect to reputable lenders to find personalized loan options and get a variety of competitive mortgage rates.
Read More »PenFed Foundation on Track to Help Record Number of Military Families
The Pentagon Federal Credit Union Foundation (PenFed Foundation) is on track to give away a record number of grants this year through its Dream Makers program.
Read More »Artists’ Hamptons Abode Back on the Market for $15M
Relisting his pricey pad in the Hamptons, artist Ross Bleckner has put his palatial estate on the market for $15 million. Located in Sagaponack, New York, Bleckner's abode boasts multiple structures, including a main home with an ocean view, a cedar-shingled guest cottage, and an art studio.
Read More »Pro Teck: Falling Supply to Create Spike in New Home Prices
The U.S. housing market "has entered a sustainable period of improving conditions," Pro Teck Valuations CEO Tom O'Grady says in the company's most recent Home Value Forecast. Each of the company's forecasts picks a housing trend and studies its influence on the market. This particular update shines a spotlight on months of remaining inventory (MRI) of new homes listed for sale and examines how that statistic affects median single family home price changes.
Read More »Colorado Attorney General Reaches Settlement with LPS
In Colorado, Lender Processing Services, Inc. (LPS), has reached a settlement with the state's attorney general. Concluding the investigation into document execution practices by subsidiaries of LPS, the company has agreed to provide payment and reimbursement fees in exchange for a release of potential liability.
Read More »NCUA Names New Director for Consumer Protection Office
The National Credit Union Administration (NCUA) selected Gail Laster to lead as director of the Office of Consumer Protection, a senior management position within the agency. Laster will begin her position November 19 and succeeds Kent Buckham, who is retiring after more than 35 years of service.
Read More »Office Loan Defaults Bring CMBS Default Rate Up in Q3
The cumulative default rate for commercial mortgage-backed securities (CMBS) in the U.S. rose over the third quarter, largely due to an increase in defaults among office loans, according to the latest data from Fitch Ratings. The rate rose from 13.2 percent in the second quarter of this year to 13.5 percent in the third quarter, according to Fitch. Office loans made up more than half of both newly defaulted loans in the third quarter and year-to-date defaults, according to the ratings agency.
Read More »Study: Defaulters Having More Trouble Returning to Mortgage Market
A study reveals borrowers who defaulted on their mortgages in recent years tend to stay out of the market for much longer than other borrowers.
Read More »Homeownership Increases in Q3, Rate Remains Flat
The number of owner-occupied homes reached 75,076,000 in the third quarter, increasing from 74,832,000 in the second but down from 75,251,000 a year ago, the Census Bureau reported Tuesday. At the same time, the nation's homeownership rate (seasonally adjusted) remained near historic lows, hovering at 65.5 percent. The stagnant homeownership rate combined with a decline in the number of units held off the market suggests opportunities for home sales.
Read More »