News

Highland Community Bank, located in the city's South Side, closed its doors over the weekend on orders from the Illinois Department of Financial & Professional Regulation's banking division.

Black Knight Financial Services reported Monday that its Home Price Index (HPI) rose 0.1 percent month-over-month in November to a value of $241,000. Compared to a year ago, November's index was up 4.5 percent.

Based on company transactional data and Google search activity, Auction.com predicted Monday that existing-home sales in January will come in at a seasonally adjusted annual rate of 5.06 million, just slightly above the National Association of Realtors' (NAR) December estimate of 5.04 million.

Citing an unnamed source, Reuters reported Friday afternoon that a number of major investors, including BlackRock, MetLife, and Pimco, filed a formal notice to Ocwen accusing the servicer of failing to properly collect payments on $82 billion of home loans.

A U.S. District judge denied the U.S. Department of Treasury's motion to strike Pershing Square Capital Management's voluntary dismissal of a lawsuit it filed in August over misappropriation of government funds.

National home prices remained largely unchanged in the fall, according to the latest FNC Residential Price Index report. After 30 months of growth in the national housing market, prices dropped off in October and stayed virtually the same in November.

imortgage, a national lending company and division of loanDepot LLC, has appointed a new EVP of operations, choosing Darien Evans for the role.

The Conference Board's Leading Economic Index (LEI), which gauges the near-term economic outlook based on a variety of indicators, increased 0.5 percent in December to 121.1, the group reported Friday. The increase fell between November's gain of 0.4 percent and October's larger 0.6 percent improvement.

Falling interest rates and demand for hybrid offerings were once again among the most dominant trends in the adjustable-rate mortgage (ARM) market in the last year, according to a recent survey.

Titan Capital Solutions (TCS), a wholly owned correspondent investment subsidiary of Denver-based Titan Lenders Corp., has recently begun to purchase certain investor-rejected loans, the company announced Thursday.