News

The share of cash sales in the housing market have dropped to their lowest point since September 2008. According to the CoreLogic July 2015 MarketPulse report, cash sales made up 33.7 percent of total home sales in April 2015, a decrease from 37.4 percent in April 2014.

Republican presidential candidate Ben Carson discusses how busing failed to address the lack of a racial utopia in America, but the Obama administration has recently implemented a new HUD rule that will "desegregate" housing.

MReport’s August 2015 ‘Women in Housing’ issue highlights the accomplishments and achievements of the working women in the housing industry. In this issue, MReport introduces their 2015 “Power Players” and “Leadings Ladies” that are revolutionizing the industry. This issue is also dedicated to the issues women face in trying to obtain the dream of homeownership and a mortgage loan.

Black Knight Financial Services' Data and Analytics division released its May 2015 Home Price Index report. The report, which examines residential real estate transactions found that U.S. home prices were up 1.1 percent in May, increasing 5.1 percent on a year-over-year basis.

Stewart Information Services Corporation's net income nearly tripled year-over-year in the second quarter up to $17.1 million and $0.72 per diluted share from $6.3 million and $0.27 per diluted share, but rapidly declining volume in the default space has prompted the Houston, Texas-based real estate services provider to exit delinquent loan servicing operations, according to an announcement from Stewart.

The House Financial Services Committee has announced that proposed legislation to cap the salaries of CEOs at Fannie Mae and Freddie Mac has advanced to the markup phase, which will take place in the Committee on Tuesday, July 28.

The Federal Housing Finance Agency recently determined that the U.S. Purchase-only House Price Index has recovered to pre-crisis levels recorded in April 2006, leaving the national index of house prices just 1.8 percent below the peak level of May 2007.

On Friday, a federal appeals court revived a lawsuit that challenged the constitutionality of the Consumer Financial Protection Bureau. According to multiple media reports, the U.S. Court of Appeals for the District of Columbia Circuit ruled that a Texas bank had legal standing to proceed with a lawsuit arguing the structure of the CFPB is unconstitutional.

In June, new single-family home sales dropped below the rate in May, but remain strong on a year-over-year basis, according to HUD and the U.S. Census Bureau's joint release of their June New Residential Sales data on Friday.

Flagstar Bancorp, Inc., recently announced that Leonard Israel has joined Flagstar as president of mortgage, where he will be responsible for all aspects of Flagstar's mortgage originations business. Israel will report to Flagstar President and CEO Alessandro DiNello.