U.S. mortgage applications slip in latest week: MBA
“(Reuters) – Applications for U.S. home mortgages fell, including both new purchases and refinancings, in the latest week, an industry group said on Wednesday.”
Moody’s warns mortgage servicers may turn to offering risky loans
“Feb 26 (Reuters) – Credit rating agency Moody’s Corp warned that mortgage servicers such as Ocwen Financial Corp could be pushed into subprime lending as their core business comes under increased regulatory scrutiny.”
Freddie pushes Mom-and-Pop shops as REO sales slow
“Big institutional investors drove a lot of the housing sales in 2013 – accounting for as much as 40% of all sales in the year.”
Biggest Banks Said to Face Asset Tax in Republican Plan
“The biggest U.S. banks and insurance companies would have to pay a quarterly 3.5 basis-point tax on assets exceeding $500 billion under a plan to be unveiled this week by Congress’s top Republican tax writer.”
NAACP, Casa rally for foreclosure moratorium
“ANNAPOLIS, Md. —The NAACP and Casa de Maryland joined forces Monday night for a rally on Lawyers Mall in Annapolis.”
Don’t Blame Winter Weather For Housing And Economic Problems
“President Obama and many of the nation’s top economists entered 2014 predicting a breakout year for the economic recovery. However, troubles in the housing sector indicate more difficulties and several more years of mediocre growth lie ahead.’
Fugitive mortgage scammer allegedly attacked prosecutor after capture
“DETROIT, Feb. 25 (UPI) — A man convicted in a massive Detroit mortgage scheme assaulted a prosecutor following his capture after eight months on the run, officials say.’
Geithner’s Book to Tackle His Image as Wingman of Wall Street
“Timothy Geithner’s memoir will explain his decisions during the global financial crisis, tackle any misperceptions and describe surviving a political firestorm from Wall Street to Main Street, he said.”
Sage Kotsenburg’s ‘totally dope’ mortgage biz can save you ‘chowsands’
“He’s already won a gold medal. He’s got himself a bacon medal.”
Reports Say Home Prices Lose Momentum
“The good news: home price appreciation had its best year since 2005. The bad news: momentum has apparently slipped away.”
Feb. Consumer Confidence Sees ‘Moderate Decline
“The Conference Board Consumer Confidence Index fell in February after a slight rebound in January.”
Congressional Republicans mull bill to add CFPB oversight
“This week the House will consider a bill designed to bring what supporters say will be more accountability and transparency to a government entity that holds private businesses accountable.”
Now accepting applications: A new word for subprime
“As the market leans more on its mortgage machines, rising mortgage rates and dwindling refinance options are pushing people to turn to a new strategy: subprime.”
Freddie pushes Mom-and-Pop shops as REO sales slow
“Big institutional investors drove a lot of the housing sales in 2013 – accounting for as much as 40% of all sales in the year.”
JPMorgan plans 8,000 layoffs
“JPMorgan Chase (JPM) is expected to reduce employee headcount in mortgages by 6,000 in 2014, in addition to an expense reduction of $2 billion from 2013 to 2014. It’s part of a total predicted reduction of 8,000 jobs, the bank announced in its investor day presentation.”
Toll Brothers earnings surge on higher home prices
“Luxury homebuilder Toll Brothers’ (TOL) first quarter net income ended Jan. 31 totaled $45.6 million, or 25 cents per share, compared to $4.4 million, or 3 cents per share, in the first quarter last year.”
Why is Las Vegas cooling so fast?
“The latest news from DataQuick is that Las Vegas-area homes sold at the slowest pace for a January in five years, as the median sale price dipped month-to-month but remained 22% higher than a year earlier.”
Despite winter storms, 29 markets hit peak
“Single-family properties in all 300 top U.S. market witnessed year-over-year growth, according to the Homes.com December Local Market Index.”
New Home Sales in U.S. Unexpectedly Rise to Five-Year High
“Purchases of new U.S. homes unexpectedly climbed in January to the highest level in more than five years, showing underlying strength in the industry even in the midst of unusually harsh weather.”
Burbank real estate market thrives
“Almost everything is up in Burbank’s real estate market. More homes and condominiums were on sale last month compared to the year prior, more homes sold and median prices continued to climb.”
Market Watch Real Estate: Market neither boom nor bust
“Southwest Florida experienced an unfamiliar new type of real estate market in 2013: a relatively normal one.”
2014 Economic Growth Off to a Chilly Start
“Cold Weather Snap, Other Crosswinds Stifle January Activity”
Freddie Mac Reports Mortgage Portfolio Decrease
“Freddie Mac released its Monthly Volume Summary for January, 2014, noting their total mortgage portfolio decreased at an annualized rate of 1.9 percent in January. Despite a slight uptick in December, 2013, Freddie Mac’s ending balance has been declining since June, 2013.”
Florida’s Consumer Sentiment Sits Tight
“A new report released Tuesday by the Wells Fargo Economics Group noted that consumer sentiment in Florida remained at 78 for the second straight month.”
More Local Markets Experiencing Full Recovery
“Homes.com has released its December Local Market Index, a price performance summary of repeat sales of U.S. properties. The index notes year-over-year gains for single-family properties in all 300 top U.S markets for the ninth consecutive month.”