In Florida, Scott French has joined Auction Services International (ASI) as president.
Read More »Home Prices Up 11.9% in June, More Double-Digit Gains Expected
CoreLogic's Home Price Index (HPI) jumped 11.9 percent year-over-year in June, the company reported Tuesday. June's data falls short of the 13.2 percent growth projected in CoreLogic's Pending HPI for June. Month-over-month, June's index was up 1.9 percent from May, a full percentage point short of predictions (partially explained by a revision in May data). Looking ahead, the Pending HPI for July indicates home prices (including distressed sales) are expected to rise 12.5 percent yearly.
Read More »Job Openings Hit Five-Year High in June
The number of job openings rose 29,000 in June to the highest level in five years, the Bureau of Labor Statistics (BLS) reported Tuesday in its monthly Job Openings and Labor Turnover Survey (JOLTS). At the same time, the number of unemployed individuals per job opening dipped below 3 (to 2.99) for the first time since October 2008. The number of unemployed per job opening fell sharply in the construction industry to 6.2 in June--the lowest level since July 2008--from a revised 8.7 in May.
Read More »Loan Officers Report Rising Demand for Non-Traditional Loans
According to the Federal Reserve's latest quarterly Senior Loan Officers Opinion Survey, a net 3.1 percent of lenders responding said demand for "non-traditional" residential loans increased from the survey released three months ago and a net 25 percent of respondents said demand for loans from sub-prime borrowers was higher than it was in May. At the same time, a net 6.3 percent of lenders said they had eased lending terms and standards for non-traditional mortgage loans.
Read More »Ginnie Mae to Release Loan-Level Data
Beginning August 2, Ginnie Mae will release loan-level data for newly issued single-family mortgage-backed securities (MBS), the company announced.
Read More »DataQuick Launches Web-Based Title Analysis Tool
DataQuick unveiled Market Intelligence TitleShare, an analytics engine offering insight into title transaction and lending trends from the company's property, sale, and mortgage information database.
Read More »Spending Growth Outpaces Income in June
Personal spending in June grew 0.5 percent, its fastest pace February while personal income rose 0.3 percent, the Bureau of Economic Analysis reported Friday. Economists had expected income and spending each to grow 0.4 percent. With spending exceeding income, personal savings fell $21.7 billion in June, and the personal savings rate dropped to 4.4 percent from 4.6 percent in May.
Read More »Carrington Names EVP for Communications
Carrington Holding Company selected Christopher Whalen to head communications. As EVP, Whalen will take responsibility for media relations and communications for the group. He will also continue to lead industry research and support Carrington's corporate finance activities.
Read More »Unemployment Rate Dips to 7.4% Despite Disappointing Payroll Growth
The nation's economy added 162,000 jobs in July as the unemployment rate fell to 7.4.percent, the Bureau of Labor Statistics (BLS) reported Friday. Economists had forecast payrolls would grow by 175,000 and that the unemployment rate would dip to 7.5 percent. The financial sector added 15,000 jobs in July, up from the average of 10,000 for May and June. New financial jobs included 3,600 underwriters and 3,000 new real estate jobs, reflecting the uptick in home sales.
Read More »National MI to Insure $5B in Fannie Mae Loans
National Mortgage Insurance Corporation (National MI) announced Wednesday it will insure about $5 billion in residential mortgages in its first risk transfer transaction with Fannie Mae.
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