News

Citing "people familiar with the matter," the Wall Street Journal reported Friday that the two GSEs and their conservator are nearing an agreement with lenders that would set clearer definitions of when a loan is considered to be in breach of GSE selling requirements. The agreement could be announced as soon as next week, according to the publication.

Larry Gunnin, a mortgage industry veteran with more than three decades of experience, joined Mortgage Network Inc. as Southeast regional manager, the company announced.

In California, First American Financial Corporation announced that its Mortgage Solutions group has been named a distributor of Freddie Mac's Home Value Suite.

According to an analysis from Redfin, housing stock in all of its tracked markets totaled 563,377 in September, up 4.1 percent from August and 6.3 percent from a year prior. Even with the unexpected rise in inventory, analysts at the company expressed doubt that supply will be able to keep pace with demand in the coming months, especially with home affordability still looking favorable.

According to a joint release from the Commerce Department and HUD, homebuilders broke ground on new projects at a seasonally adjusted annual rate of 1.02 million last month, 6.3 percent above August's revised estimate of 957,000 (just barely up from the government's initial estimate).

The Goldman Sachs Group, Inc. reported a third quarter net revenue of $8.39 billion and net earnings of $2.24 billion, according to the company's Q3 earnings statement released on Thursday.

DocMagic, Inc., a provider of compliant loan document preparation and eSign and eDelivery solutions, announced its acquisition of electronic software solutions firm eSignSystems from WAVE Systems Corp.

Community financial institutions are putting more of their resources toward compliance, according to compliance management systems firm Continuity Control. The firm's 2014 Third Quarter Banking Compliance Index revealed that in order to comply with the 82 regulatory changes added in Q3, 653 additional hours were required of the average community bank.

Buying a home is still cheaper than renting in most markets across the country, and even cheaper than a year ago, according to the latest Rent vs. Buy report from Trulia. According to Trulia, when the purchase includes 20 percent down and a fixed 30-year mortgage, buying is 38 percent cheaper than renting.

Global DMS, a provider of Web-based compliant valuation management software, announced the launch of Appraisal Tracking On Mobile (ATOM), a new app designed to improve appraisers' field productivity by enhancing their ability to communicate and access information.