Fannie-Freddie's Faith in FICO Tested by VantageScore – Bloomberg
Posted October 31, 2014 / No comments
Fannie-Freddie's Faith in FICO Tested by VantageScore Bloomberg Barrett Burns has been lobbying Fannie Mae (FNMA) and Freddie Mac to adopt his credit-scoring system, VantageScore, for years. So when he spotted Mel Watt, the companies' regulator, sitting in a Las Vegas hotel with his family, Burns didn't hesitate to ……(read more) Forward this article via email: Send
Read MoreUS personal income rose 0.2% in Sept vs 0.3% expected
Posted October 31, 2014 / No comments
This is a breaking news story. Please check back for updates.. U.S. personal income was expected to rise 0.3 percent in September, after climbing 0.3 percent the previous month….(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it. Source: Mortgage News Daily
Read MoreWhy Not to Get Too Excited About U.S. Economy's Strong Third Quarter
Posted October 31, 2014 / No comments
One of the largest quarterly contractions outside of a recession kicked off the year, followed by a roaring rebound, now only to end with mounting fears of a global slowdown….(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it. Source: Mortgage News Daily
Read MoreSeptember Las Vegas Region Home Sales Press Release
Posted October 31, 2014 / No comments
Las Vegas Region September Home Sales Las Vegas-area homes sold at the slowest pace for a September in seven years as the share of homes purchased by investors and other absentee buyers fell to a 69-month low. The median price paid for a home edged up from August to a six-year high, CoreLogic DataQuick reported.
Read MoreFriday: Personal Income and Outlays, Chicago PMI, Consumer Sentiment
Posted October 31, 2014 / No comments
From Freddie Mac: Mortgage Rates Rebound, Remain Below Four Percent Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates moving higher across the board this week and rebounding from the lowest rates of the year. 30-year fixed-rate mortgage (FRM) averaged 3.98 percent with an average 0.5
Read MoreLawler: MDC Results and Homebuilder Summary Table
Posted October 31, 2014 / No comments
From housing economist Tom Lawler: M.D.C. Holdings: Net Orders Up, Orders per Community Down; Margins Fall on Higher Incentives M.D.C. Holdings reported that net home orders in the quarter ended September 30, 2014 totaled 1,081, up 17.0% from the comparable quarter of 2013. Net orders per active community were down 2.3% from a year ago.
Read MoreCiti 3Q earnings revised down
Posted October 30, 2014 / No comments
Citigroup lowered its third-quarter net income due to a $600 million increase in legal accruals. Source: Housing Wire
Read MoreHow much offshore staff do the top mortgage servicers use?
Posted October 30, 2014 / No comments
Several of the country’s largest mortgage servicers already have as much of a third of their mortgage servicing staff offshore. A new report from Fitch Ratings details the rise of offshoring and what it means for the future of mortgage servicing. Source: Housing Wire
Read MoreFutures Now, October 30, 2014
Posted October 30, 2014 / No comments
[View:http://video.cnbc.com/gallery/?video=3000325869&__source=mnd|news|video|&par=mnd] CNBC's Jackie DeAngelis and the Futures Now Traders have the post-QE bond trade, with Leader Capital's John Lekas. And how to make money in Treasurys, the S&P and gold's tumble. …(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it. Source: Video
Read MoreCredit Research Part 3: The Recession and Mortgage Delinquencies
Posted October 30, 2014 / No comments
I’ve been blogging about the increase in US mortgage charge-offs during the Great Recession and its negative impact on homeownership. As the economy continues to recover, it is likely that lenders will start to relax their underwriting criteria-early indications of which have been confirmed by the OCC’s most recent Survey of Underwriting Criteria. Even so,
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