Borrowers Struggle Despite Equity Gains
“The ongoing price recovery and rise in positive equity around the country has been cause for celebration among many industry commentators—but they’re not much comfort to those who continue to struggle to pay their mortgages, Fitch Ratings says in a new release.”
Business Ticks Up at Freddie Mac
“Freddie Mac’s mortgage business grew—albeit slowly—in December, capping the year with an overall negative growth rate.”
As Broncos, Seahawks Face Off, Analysts Compare Markets
“As the Super Bowl approaches, the sports world is abuzz with comparisons of the two teams facing off Sunday as analysts compare everything from the number of veteran players to yards gained during the season. At the same time, ZipRealty, a national online real estate brokerage based in Emeryville, California, looked at the stats to compare the two teams’ home housing markets.”
Case-Shiller Indices Up 13.7% Year-on-Year
“Despite experiencing a slight downturn—the first monthly decline in a year—home prices still turned in a strong performance in November, according to the S&P/Case-Shiller Home Price Indices released Tuesday.”
Obama offers new ‘MyRA’ retirement accounts
“President Obama on Tuesday offered up a new kind of “starter” retirement accounts aimed at employees of companies that don’t offer such plans.”
Obama speech highlights gap between his goals and his resources
“The 2014 State of the Union address emphasized policies aimed at closing the income gap, but Obama has limited ways to achieve that.”
Hedge Funds See Cheap Homes With Soured Loans: Mortgages
“After David Sherr left Lehman Brothers Holdings Inc. in 2007 to start a hedge fund, he considered buying delinquent mortgages to profit from the U.S. housing collapse. Following years of passing on the debt, he now sees the loans as one of the best ways to play the recovery.”
Jefferies to Pay $25 Million Over Mortgage Trading Probe
“Jefferies Group LLC, the investment bank owned by Leucadia National Corp. (LUK), agreed to pay $25 million to settle U.S. criminal and civil probes of suspected abuses in the trading of mortgage-backed securities after the financial crisis.”
Goldman Sachs Said to Lead American Homes 4 Rent Bond Deal
“Jan. 29 (Bloomberg) — American Homes 4 Rent, the second-largest single-family landlord in the U.S., has selected Goldman Sachs Group Inc. to arrange a bond backed by rental home payments, less than three months after Blackstone Group LP (BX) completed the first sale of its type.”
D.R. Horton Soars After Reporting Strong January Sales
“D.R. Horton Inc. (DHI), the largest U.S. homebuilder by revenue, rose the most in a year after reporting that it’s charging more for houses and that sales are strengthening heading into the busiest season for demand.”
MBA President and CEO David Stevens Comments on The State of the Union
“David H. Stevens, President and CEO of the Mortgage Bankers Association (MBA), today issued the following statement…”
Mortgage Applications Essentially Flat in Latest MBA Weekly Survey
“WASHINGTON, D.C. (January 29, 2014) — Mortgage applications decreased 0.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 24, 2014.”
Senate Breaks Filibuster on Flood Insurance Bill
“The Senate voted late Monday to advance a bill that would prevent insurance premium hikes in many flood-prone areas that could discourage home sales and disrupt real estate markets.”
Higher rates loom for some modified mortgages
“Homeowners who got government loan modifications during the financial crisis will begin to see monthly payments rise this year, government report says.”
CFPB Director Richard Cordray just told off the House Financial Services Committee
“Consumer Financial Protection Bureau Director Richard Cordray appeared before the House Financial Services Committee this morning for his Semi-Annual Grilling (I mean Report) before Congress.”
New argument emerges in mortgage fee debate
“A new argument has emerged in the debate over Kansas counties’ mortgage registration fees the day before hearings on a bill to repeal such fees.”
Durable goods orders stumble, but consumers perk up
“(Reuters) – Orders for long-lasting U.S. manufactured goods unexpectedly fell in December as did a gauge of planned business spending, casting a shadow on an otherwise bright economic.”
Why financial data security is the next hot button issue
“Data security breaches at Target, Neiman Marcus and other retailers do more than jeopardize the financial well-being of consumers, they also red-flag what could very well be the next hot-button banking topic in Congress and raise the issue of how many firms collect this data while lacking the appropriate systems to protect it.”
Top 10 cities to avoid natural disasters, unless you count blizzards
“Natural disasters have dominated the news in the last few years, with tornados, earthquakes, hurricanes and floods devastating lives and homes across the country. Which makes us wonder — where are the safest places to live?”
Home prices flattening in the county
“San Diego County home prices were nearly flat from October to November, but are still up 18.7 percent over the year, the S&P/Case-Shiller Home Price Index showed Tuesday.”