Real estate news

• J.G. Wentworth accused of financial foul play in WestStar Mortgage acquisition

  12-01-2017 23:36
  
  Back in 2015, The J.G. Wentworth Company, which rose to fame with the “It’s my money and I want it now” advertising campaign, surprised many in the mortgage business by becoming a mortgage company itself. J.G. Wentworth accomplished this transition by acquiring WestStar Mortgage. Now, the former owner of WestStar Mortgage is claiming that J.G. Wentworth misrepresented the state of the company’s financials and pushed for an accelerated closing, which was finalized just bef
  
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• The New Normal? Mortgage Rates Sink Again

  12-01-2017 22:47
  
  Mortgage rates again sunk this week after topping out at the end of 2016, with the 30-year fixed-rate mortgage averaging 4.12 percent with an average 0.5 point, according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS®). The trend, now in its second week, marks a new normal for rates, which rose above 4 percent in a nine-week streak following the election.
  “After absorbing a mixed December jobs report, the 10-year Treasury yield fell eight basis points,” says Se
  
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• 2016 Brings 10-Year Drop in Foreclosures

  12-01-2017 22:45
  
  While many of us were all too pleased to say buh-bye to 2016, one positive thing the year gifted us was the lowest foreclosure rate in 10 years.
  According to recently released data from ATTOM Data Solutions, 2016 foreclosure filings were reported on 933,045 U.S. properties, down 14 percent from 2015 to the lowest level since 2006.
  For an even bigger boon, the Year-End 2016 Foreclosure Market report shows that 0.70 percent of U.S. housing units had at least one foreclosure filing in 2016, the low
  
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• Expanded Data Key to Opening Up Mortgage Credit

  12-01-2017 22:42
  
  Trended credit data, which offers an expanded perspective to lenders evaluating a credit applicant, could be key to opening up mortgage credit accessibility, according to an analysis by Equifax, one of the three major credit reporting bureaus. The analysis found that the use of trended credit data—an indicator of behavior beyond the traditional credit report—could boost mortgage loan approvals by 267,000 and home equity line of credit (HELOC) approvals by 65,000.
  Trended credit data,
  
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• Ben Carson confirmation hearing had some bark, but where was the bite?

  12-01-2017 22:00
  
  Ben Carson easily sparked more controversy and concern than any other Department of Housing and Urban Development nominee, and yet when the time finally came to grill the potential future leader of HUD, the original uproar practically dissipated. By the looks of things, Carson as HUD secretary is all but locked in.
  
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• 3 interest rate hikes in 2017? Not a chance

  12-01-2017 21:58
  
  The real estate industry is buzzing about the possibility of three interest rate hikes during 2017, but one expert says it will never happen. New American Funding’s executive vice president of capital markets explains that the U.S. economy is not in a position to sustain increasing interest rates.
  
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• First look at Wells Fargo, Bank of America, JPMorgan Chase earnings

  12-01-2017 20:27
  
  It’s that time of year again. Friday marks the start of the fourth-quarter earnings season for the financial sector, with Wells Fargo, Bank of America and JPMorgan Chase kicking it off.Here’s how the banks are predicted to report.
  
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• Senate questions Ben Carson on his ability to lead HUD

  12-01-2017 19:37
  
  Ben Carson's hearing before the Senate Banking, Housing and Urban Affairs Committee is now over. While some of the committee members questioned Carson's ability to be the next secretary of HUD, the hearing wasn't as contentious as many thought it might be. And despite the controversial reaction to his appointment, the hearing seemed to confirm that Carson will, in fact, be confirmed as the next HUD secretary.
  
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• Dow, S&P 500 face worst daily drop since October

  12-01-2017 19:27
  
  The recent stock market rally is quickly coming to a close as the Dow and S&P 500 are on track for their worst one-day declines in three months. It was only a week ago that the Dow flirted extremely close to the 20,000 psychological milestone.
  
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• Dow, S&P 500 face worst daily drop in three months

  12-01-2017 19:27
  
  The recent stock market rally is quickly coming to a close as the Dow and S&P 500 are on track for their worst one-day declines in three months. It was only a week ago that the Dow flirted extremely close to the 20,000 psychological milestone.
  
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• Ben Carson pledges to "really examine" latest FHA mortgage insurance premium cut

  12-01-2017 18:48
  
  Earlier this week, Julián Castro, the outgoing Secretary of the Department of Housing and Urban Development, told reporters that he does not expect the incoming Trump administration to repeal HUD’s decision to cut Federal Housing Administration mortgage insurance premiums. On Thursday, Ben Carson, President-elect Trump's choice to lead HUD, said the the incoming administration plans to "really examine" the Obama administration's decision before determining a course of action. Click
  
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• Freddie Mac: Mixed jobs report sends mortgage rates tumbling

  12-01-2017 15:59
  
  Mortgage rates just saw their second drop since the presidential election. The sudden drop came just after the market absorbed December’s mixed jobs report which, according to Freddie Mac, fell below many economists’ expectations.
  
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• ATTOM: Foreclosure activity hits 10-year low

  12-01-2017 06:01
  
  Foreclosures activity decreased to its lowest point in ten years. However, not every state followed the trend as some even saw an increase in foreclosure activity. The national drop in foreclosure activity was accompanied by a new high in the number of days it takes to foreclose.
  
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• Trump’s Treasury pick to divest assets after office confirmation

  12-01-2017 00:24
  
  President-elect Donald Trump’s nominee for Treasury secretary, Steve Mnuchin, plans to divest his interests in 43 companies and investments to avoid conflicts, following recent concerns from Democrats on his background in Wall Street. And one of these companies holds a stake in Fannie Mae and Freddie Mac.
  
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• Fannie Mae, Freddie Mac increase mortgage modification interest rate to highest level in 18 months

  12-01-2017 00:04
  
  For the second time in two months, Fannie Mae and Freddie Mac announced that they are increasing the benchmark interest rate for standard mortgage modifications. While last month’s increase saw Fannie and Freddie increase the standard mortgage modification benchmark interest rate to a level not seen in months, the GSEs said they are increasing the standard mortgage modification interest rate to the highest level in 18 months.
  
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• Get Organized in 17-Minutes a Day

  12-01-2017 00:00
  Make your office run more smoothly and effectively by tackling organizational tasks in small increments.
  
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