Home building at historic levels in some cities
“Home building is recovering faster in some cities than in others, just as home prices are.”
Should Mortgage Giants Pursue Borrowers Who Walked Away?
“If any company captures the zeitgeist of the housing collapse, it might be YouWalkAway.com. Started in 2007, the California-based firm helps underwater homeowners — those whose houses are worth less than what they owe on their mortgage — decide whether they should stop paying on their loans. If borrowers choose to default, the company’s advisors then walk them through the foreclosure process.”
Specialty Servicers Face Trouble
“Nationstar Mortgage is further along in developing its origination capacity than Ocwen Financial and Walter Investment Management, according to a new report by Moody’s Investors Service.”
The fight over shrinking origination volume
“Although mortgage originations continue to contract, lenders are still open for business. And while community banks may seem at risk of losing out in this competitive space, that’s simply not the case, industry veterans claim.”
Wage Gains Prove Elusive Even as U.S. Job Market Rebounds
“Employers will probably boost payrolls and the jobless rate is projected to keep sliding in 2014 as the U.S. economy strengthens. The one element missing will be bigger wage gains.”
The most overvalued housing market in America
“Housing markets resting on the laurels of juiced up home prices may be at risk in 2014 if those dramatic price swings are not supported by economic fundamentals.”
How does the CFPB handle mortgage complaints?
“Life in the Consumer Financial Protection Bureau-age is well underway, and it seems the bureau’s Director Richard Cordray is becoming more forthright on how his agency approaches consumer complaints.”
Why foreclosure filings are falling in California?
“Foreclosure starts fell to an eight-year low in California during the fourth quarter, as the state continued benefiting from rising prices, more aggressive foreclosure prevention efforts and higher home prices, says John Walsh, president of DataQuick.”
Wells Fargo sells $39 billion MSR portfolio
“Wells Fargo & Co. (WFC) subsidiary, Wells Fargo Bank, has signed an agreement to sell Ocwen Loan Servicing (OCN) a $39 billion portfolio of residential mortgage servicing rights, with approximately 184,000 loans linked to the transaction.”
The fight over shrinking origination volume
“Although mortgage originations continue to contract, lenders are still open for business. And while community banks may seem at risk of losing out in this competitive space, that’s simply not the case, industry veterans claim.”
The most overvalued housing market in America
“Housing markets resting on the laurels of juiced up home prices may be at risk in 2014 if those dramatic price swings are not supported by economic fundamentals.”
Who will feel credit squeeze in 2014?
“CoreLogic’s economists take a look at what shaped residential mortgage financing in 2013 and what that means for 2014 in the company’s January MarketPulse report.”
U.S. Treasury Opposes Extending Cutoff Date for HARP Refinancing
“The U.S. Treasury opposes allowing borrowers with mortgages originated after mid-2009 to become eligible for the Home Affordable Refinance Program, the agency’s chief housing-finance adviser said.”
BlackRock Lawyer Criticizes Government Mortgage-Loan Settlements
“To revive the U.S. mortgage-bond market, investors need more protections to restore their confidence, according to a lawyer who works on behalf of BlackRock Inc. (BLK) and Pacific Investment Management Co.”
New Loan Safeguards Leave Path for Higher-Risk Borrowers
“Nick Wormald, a 29-year-old plumber with good credit, said he was shut out of the housing rebound until he asked the government for help.”
COACHELLA VALLEY: Real estate heating back up
“It’s no secret commercial growth sputtered in the Coachella Valley in the downturn. White-knuckled business folks hunkered down or shifted into bigger, more visible or more cost-effective commercial space. Investors swooped in to deal with distressed inventory. All got ready for an upturn.”
Real estate’s least sexy sector is red hot
“Amazon.com’s latest move—to anticipate what you want to buy and start shipping it before you even buy it—could be a big boon to a sector that is already seeing huge gains. Industrial warehouse space, once a dud in real estate, is now closing in on prom queen status, as more retail goes online and as the housing market recovers.”
China Set to Continue Shopping Spree for Real Estate
“Chinese real-estate investors made a name for themselves abroad in 2013, picking up big-ticket projects from New York to London, and that momentum is poised to pick up this year.”
Foreclosures fell to 8 year low in 2013
“Foreclosures and default notices in San Diego County in 2013 dropped to their lowest total since 2006, the year before the official start of the Great Recession.”