HUD Secretary Julian Castro is scheduled to speak at the National Press Club (NPC) luncheon on January 13 to address the state of the housing industry and what HUD's plans are for 2015, the NPC announced on Tuesday.
Read More »ADP: Private Payrolls Up by 241K in December
December was the fourth consecutive month and the eighth month out of the last nine in which more than 200,000 jobs were added nationwide. The highest total of jobs added during any one month in 2014 was 297,000 in June. The year began with just 121,000 jobs added in January.
Read More »LRES Names New VP, National Sales Manager
LRES, a national firm specializing in residential and commercial valuations and asset management services, announced that Candice Merriweather has joined the team as VP and national sales manager.
Read More »Mortgage Apps Drop Sharply in Year-End Survey
Total mortgage application volumes, including both purchase loans and refinances, fell 9.1 percent over the two weeks ending January 2, the Mortgage Bankers Association (MBA) reported Wednesday. The results include adjustments for the Christmas and New Year's Day holidays.
Read More »Updated: Obama Announces Cuts to FHA Insurance Premiums
The White House announced Wednesday that the Federal Housing Administration (FHA) will reduce mortgage insurance premiums in an effort to boost U.S. homeownership. The announcement is welcome news to many of housing's biggest trade organizations, who have been vocal in the past few months about the consequences of higher premiums.
Read More »Americans’ Economic Confidence Grows, but Housing Doubts Persist
Out of a group of 1,000 Americans polled in Fannie Mae's December National Housing Survey, 41 percent said they now believe the economy is "on the right track," up from 36 percent in November, the company reported. In contrast to December's slightly more positive economic attitudes, consumer sentiment toward the housing market remained subdued for another month.
Read More »Michigan Lender to Pay $4.2M in Fraud Settlement
Southfield, Michigan-based lender GTL Investments, Inc., recently agreed to pay $4.2 million to settle claims regarding the origination of federally-backed mortgage loans that were not properly underwritten, according to an announcement from U.S. Attorney for the Eastern District of Michigan Barbara McQuade.
Read More »Fannie Mae CEO Warns of Reform Risks
Speaking as a guest presenter at the Rotary Club of Atlanta on Monday, Fannie Mae President and CEO Timothy Mayopoulos warned against any type of reform where housing finance is concerned, telling the audience that "the (current) system works," according to a report.
Read More »Ellie Mae Promotes Corr to CEO
In California, mortgage software and services provider Ellie Mae announced the promotion of Jonathan Corr to the position of CEO.
Read More »Servicing Rights on Offer for Massive GSE Portfolio
The new year brought with it a new mortgage servicing rights (MSR) opportunity for interested buyers: a GSE portfolio valued at $4.2 billion in aggregate unpaid principal balance. According to MountainView Servicing Group, the portfolio is entirely made up of fixed-rate and first-lien product and features low delinquencies.
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