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Europe’s Crises Keep Mortgage Rates at a Standstill

Mortgage rates largely stayed the same this week as trouble in the euro zone threatened to upend global financial markets, encouraging investors to stay near the safe haven of U.S. Treasury debt. Mortgage giant Freddie Mac and finance Web site Bankrate.com released separate weekly surveys that found rates hovering at or above figures seen for several weeks in a row. The GSE noted averages for the 30-year fixed-rate mortgage reaching 4 percent ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô the fifth consecutive week for lows for the benchmark loan.

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Lawmakers Grill HUD Official Over Stretched-Thin FHA

The weak capital position of the Federal Housing Administration came into play at a hearing Thursday, where members of the House Financial Services Committee grilled HUD Secretary Shaun Donovan. Lawmakers took turns interrogating the Obama administration official over substantially fewer reserves in place to meet loan guarantees at a time when the housing market stays near bottom. The federal agency recently came under fire from news media, think tanks, and academia for failing to meet the minimum threshold.

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BBVA Compass Opens Fourth Mortgage Center

Opening up new industry jobs in Tempe, Arizona, BBVA Compass recently announced that it would launch a mortgage operations center in the Southwestern city. The branch will be BBVA Compass' fourth mortgage-focused complex, and the company noted its growth in the sector as the chief catalyst behind the development of a new location in Tempe.

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MIS Approved for UCDP Integration

Mortgage Information Services, Inc., has completed its testing by the Federal Housing Finance Agency, and the company has been approved, taking its connection with the UCDP live.

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Stocks Soar on Fed’s Move to Save Global Financial System

Fed

A bold move to shore up global financial liquidity by the Federal Reserve and central banks from five other countries created a surge in confidence for investors Wednesday, inspiring a pickup in stocks and shares for the nation├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós four biggest U.S. lenders. The Dow Jones Industrial Average jumped nearly 500 points to crest at 12,045.68 by end of day in response, with shares climbing for Bank of America, Citigroup, JPMorgan Chase, and Wells Fargo. Central banks agreed to lower prices for U.S. dollar liquidity swaps by 50 basis points.

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New President Announced for ServiceLink

A new president has been announced at ServiceLink, with the appointment of Chris Azur to the prestigious position. Formerly the company's executive vice president and chief operating officer, Azur has been with ServiceLink for more than four years. In his previous role for ServiceLink, Azur was responsible for multiple aspects of valuations, title, and closing operations for the entity.

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Pending-Home Sales Jump 9.2% in October: NAR

All-time highs for housing affordability helped elevate pending-home sales for October 9.2 percent above figures seen over the same month last year, with fewer bad appraisals scuttling deals across the country. The National Association of Realtors measured contract signings for homes last month against numbers from the month before and last year, which it released with the Pending Home Sales Index. The trade group recorded 93.3 for pending-home sales in October, up from 84.5 in September ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô 10.4 percent above figures seen during that month.

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FHFA Appoints Two New Faces to Key Positions

The Federal Housing Finance Agency picked up two new appointees, duly announced by the independent federal agency Tuesday. Richard Hornsby will assume his new role as COO with the FHFA, while Jon Greenlee takes on the position of deputy director of the division of enterprise regulation.

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