Roubini: U.S. economy will disappoint in 2014
“FORTUNE — Dr. Doom is back, sort of.”
Realtors® Rate Exterior Replacement Projects Among Most Valuable Home Improvements
“WASHINGTON (January 16, 2014) – A home’s curb appeal is crucial because it can be the first thing buyers notice about a home. That’s why Realtors® rated exterior projects among the most valuable home improvement projects in the 2014 Remodeling Cost vs. Value Report.”
Lower Mortgage Refinancing Activity Hits Citi Profit And Revenue
“If there was ever any question about the nation’s appetite for new and refinanced mortgages, Citigroup’s disappointing fourth quarter earnings results leave very little room for doubt: it’s weak.”
Shawnee County implores Legislature to keep mortgage fees
“As taxes go, the mortgage registration fee historically has fallen below the three budgets it is supposed to support.”
FBI Suspects Front-Running of Fannie, Freddie Swap Orders
“Bank employees may have profited by trading ahead of Fannie Mae and Freddie Mac swap orders, Reuters reported, citing a description of the practice in a U.S. Federal Bureau of Investigation intelligence bulletin.”
CFPB Provides New Guidance on Appraisal Disclosures
“The Consumer Financial Protection Bureau has provided an update to National Mortgage News on a story with inaccurate information about appraisal disclosures. Under the qualified mortgage rule, lenders are required to provide borrowers with all appraisal reports ordered or requested in conjunction with a loan application.”
Mortgage exec says don’t fear new rule on loans
“Wells Fargo Home Mortgage President Mike Heid spoke in favor of the federal government’s new qualified mortgage rule Thursday at a gathering of Des Moines-area business leaders.”
Banks Keep Their Mortgage Litigation Reserves a Secret
“From JPMorgan Chase’s $13 billion settlement over mortgage securities to lawsuits brought by bondholders, a barrage of litigation has been raining down on Wall Street banks. Yet the banks are not disclosing a number that is crucial for assessing their ability to deal those legal costs. And, curiously, the regulator that has sway over companies’ disclosure practices has not called on the industry to reveal this important figure so that investors can weigh the institutions’ health.”
Alabama court thinks landlords need more foreclosure protection
“Lawfirm Ballard Spahr is reporting that an Alabama federal court is suggesting that borrowers can allege invalid mortgage assignments — if a portion of the property has tenants.”
GSE reform idea puts private capital back in driver’s seat
“Representatives John K. Delaney, D-Md., John Carney, D-Del., and Jim Himes, D-Conn., are putting together a housing finance reform proposal that uses private sector market forces to price risk while providing the security of a government guarantee behind the program.”
Housing starts drop 9.8%
“While housing starts dropped 9.8% from November to December, they did manage to grow 1.6% from December 2012, the U.S. Census Bureau said Friday.”
Real estate prices appreciate at a slower pace
“While residential real estate appreciation continues to trend higher, the rapid pace experienced early last year is easing, Veros Real Estate Solutions said in its latest VeroFORECAST report.”
$669 million Fannie, Ginnie portfolio sale hits market
“Mortgage Industry Advisory Corp. is overseeing the sale of a $669.22 million Fannie Mae and Ginnie Mae mortgage-servicing portfolio, the company announced Friday.”
4 key housing trends
“Key indicators show housing moving in a positive direction, paving the way for an ongoing recovery, the latest Freddie Mac Economic and Housing Market Outlook shows.”
New Lenders for Real-Estate Investors
“A new lender is knocking on wealthy real-estate investors’ doors.”
HUD AND CENSUS BUREAU ANNOUNCE
NEW RESIDENTIAL CONSTRUCTION ACTIVITY IN DECEMBER
“WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau today announced the following new residential construction statistics for December 2013…”
Freddie Mac Prices New $4.5 Billion Three-Year Reference Notes® Security
“MCLEAN, VA–(Marketwired – Jan 17, 2014) – Freddie Mac (OTCQB: FMCC) announced today that it priced its new .875% three-year USD Reference Notes® security due on February 22, 2017. The issue, CUSIP number 3137EADT3, was priced at 99.839 to yield .928%. The issue will settle on Tuesday, January 21, 2014.”
San Fernando Valley home, condo prices soared in 2013
“The San Fernando Valley’s housing market shook off the shackles of the Great Recession during 2013, according to a report released Thursday.”
Rich Chinese continue to flee China
“Do the wealthy Chinese know something we don’t?”
Construction up, but are we building too many houses?
“The year-end numbers are in, and home construction improved dramatically in 2013. Both single- and multi-family housing starts were up, by 15 and 25 percent, respectively, according to the U.S. Census. Add it all up and total housing construction rose 18 percent from 2012 to the highest level since 2007.”
The Mortgage Professor: Breaking the logjam on reverse mortgages
“People reaching retirement age are living longer than ever, and retiring with less capacity to maintain their living standards. With good reason, this situation has been termed a ‘retirement funds crisis.'”
