Tag Archives: Service Providers

While the reaction to Thursday's report on personal income and spending for May was largely positive, it may have also been misplaced.

In concurrence with many industry analysts, real estate agents expect price gains to mellow in the near future, according to survey results released by Redfin. Eighty-six percent of agents believe prices will rise over the next few months. However, while a majority of agents expect price gains, a minority expect prices to "rise a lot." The percent of agents who anticipate prices rising "a lot" in coming months fell from 44 percent in the first quarter to just 16 percent in the second quarter, according to Redfin's survey.

Interest rates declined 0.15 percent in May, according to the Federal Housing Finance Agency (FHFA).

LenderLive Network, an end-to-end mortgage services provider headquartered in Colorado, announced a partnership to provide subservicing for Pingora, a specialized asset manager focused on investing in and managing the servicing of newly produced mortgage servicing rights (MSR) portfolios.

In California, Rudy Casanova joined the mortgage services division at First American Title Insurance as national sales director, the company announced in a release.

Private mortgage insurance business saw a sharp increase for the third straight month in May, according to a monthly report from Mortgage Insurance Companies of America (MICA). Together, member companies issued 52,545 certificates on new mortgage loans totaling more than $12.0 billion in volume. The increase in volume comes as little surprise, given the rising trend in applications received over the last several months. With applications totaling 55,535 in May, activity should continue to improve.

Jones Lang LaSalle (JLL) announced the acquisition of Dallas-based Quadrant Realty Finance (QRF), a debt and equity origination platform.

Profits and loan volume declined at independent mortgage bankers in the first quarter of the year, the Mortgage Bankers Association (MBA) reported.

Mortgage rates shot up in the last week following remarks from the Federal Reserve that it may be tapering its bond purchases later this year. According to Freddie Mac's Primary Mortgage Market Survey, the average 30-year fixed-rate mortgage (FRM) rose to 4.46 percent (0.8 point) for the week ending June 27, an increase from only 3.93 percent last week and the highest figure since the week of July 28. The weekly increase is the largest since April 1987.

With a boost from the calendar, personal income rose 0.5 percent in May--faster than economists had forecast--while personal consumption went up an unsurprising 0.3 percent the Bureau of Economic Analysis (BEA) reported Thursday.