News

The Conference Board reported a 0.2 percent month-over-month increase in its Leading Economic Index (LEI), putting the measure at 121.1. The index, which measures early growth signs as a gauge of future economic developments, had increased 0.4 percent in December and 0.3 percent in November.

After four months serving as interim general counsel for the company, Auction.com has named Lee Leslie as EVP and chief legal officer.

The study was conducted authored by Gary Painter, director of USC's Lusk Center for Real Estate, and doctoral candidate Jung Hyun Choi, to determine how long declines in household formation would last following a major economic shock such as a drop in employment that occurred during the recession.

Using home price data from CoreLogic, NAHB estimated that 62.8 percent of homes sold at the national median price in Q4 were affordable to families earning the U.S. median income of $63,900. That figure was up 1 percentage point from the third quarter.

For all of 2014, Fannie reported profits totaling $14.2 billion, down from $84 billion in 2013. Like its sister company, Freddie Mac, Fannie's 2013 results got a major boost from a one-time benefit related to deferred tax assets and a surge in funds from securities settlements.

In Colorado, LenderLive Network recently introduced its newest addition: Shana Lakso has joined the company has EVP of operations and client management for its mortgage services units.

U.S. Representative Steve Stivers (R-Ohio), along with U.S. Representative Tim Walz (D-Minnesota), re-introduced the Bureau of Consumer Financial Protection Act of 2015, a bill that would create the position of an independent Inspector General for CFPB.

In its fifth annual survey of loan originators, national recruiting firm Hammerhouse LLC found that out of more than 800 respondents, 56 percent are finding that while they still consider their job rewarding—both personally and financially—it's now less so than it was in the past.

Freddie Mac reported Thursday that the average interest rate for a 30-year fixed-rate mortgage (FRM) was 3.76 percent (0.6 point) for the week ending February 19, up from 3.69 percent a week ago and the highest rate since 2014's final reading.

Based on a sample of loans originated on the company's platform, Ellie Mae reported that refinances accounted for 51 percent of loan volume in January, a jump of 8 percentage points from December. The spike put refinance share at its highest in more than a year and a half.