News

Primary Residential Mortgage, Inc. recently named Burton Embry as its chief compliance officer. In his new position, Embry will continue to oversee and manage the company's enterprise risk management group.

Old Republic Title Insurance Group, Inc., recently announced that its Old Republic Default Management Services operation will now operate under the new name of Old Republic Servicing Solutions.

Nationstar Mortgage Holdings rebounded from a $48 million net loss in the first quarter this year to post a net income of $75 million ($0.69 per share) for the second quarter in the company's Q2 2015 earnings statement released Thursday.

Low inventory in the housing market has increased competition among home shoppers. According to the first quarter Zillow Real Estate Market Report, there were fewer homes for sale in June than one year ago and much of the decline came from the lowest-valued homes sought by first-time homebuyers.

Wells Fargo Bank and Prospect Mortgage announced Thursday their intentions to withdraw from marketing activities that depend on marketing services agreements due to regulatory uncertainty and Real Estate Settlement Procedures Act interpretations.

Interest rates on conventional purchase-money mortgages and home loan amounts increased from May to June, according to Federal Housing Finance Agency indices of new mortgage contracts.

Quicken Loans, Inc. ranked the highest in terms of customer satisfaction among all primary mortgage servicers for the second consecutive year, according to the J.D. Power 2015 U.S. Primary Mortgage Servicer Satisfaction study released Thursday.

With many institutions still designated as "systemically important" or "too big to fail" even seven years after the financial crisis, a subcommittee of the Senate Banking Committee convened for a hearing on Wednesday to discuss ways in which bankruptcy reform could end "too big to fail."

Loosening credit standards, demographics, pent-up demand, and attractive affordability and housing valuations are on track to promote a healthier housing market for the rest of 2015 in the homebuilding and construction sectors, according to an analysis from Fitch Ratings released Wednesday.

Although Federal Reserve officials determined that economic activity is expanding moderately, the housing sector has shown additional improvement, and job gains have been solid with declining unemployment, the federal funds rate will remain the same at a target range of 0 to 1/4 percent, according to the Federal Open Market Committee July meeting.