HousingWire's Morning Radar provides a look at what's trending across media outlets nationwide.
Market analysts are largely upbeat about upcoming earnings reports due soon from Citibank ($50.52 -0.01%) and Wells Fargo ($40.24 0.23%).
Zacks Equity Research estimates Citi earnings for the quarter will hit $0.50 per share, representing an estimated year-over-year growth of about 25%.
For the full year, the Zacks Consensus Estimate is $3.83 per share, up about 9% from the previous year.
Wells Fargo is also reporting earnings. Chatter on that front is considerably less. Is that a sign of confidence? HousingWire is confident their mortgage numbers will come in relatively solid. But don't quote us on that, as we trade on facts.
Reverse mortgage revival
The Wall Street Journal has the latest scoop on reverse mortgages — in that it can make sense for older homeowners.
We joke, but the reporter does the necessary legwork to name a few mortgage lenders who are filling the gaps left when previously large reverse mortgage originators exited the space.
All hail Met Life, the undisputed king of reverse mortgages (one day).
Great news (but is it news?)
LoanSafe is reporting that "new home starts, closings pick up in fourth quarter of down year."
This is great news for the housing community. Thanks to author Moe Bedard for the scope.
Wait a second, on closer look Moe isn't the author at all. The story is the work of Sandra Baker of the Fort Worth Star-Telegram, Texas.
LoanSafe completely republished the entire article, though it isn't theirs.
C'mon guys, can't you write up your own press releases? It is perfectly acceptable to aggregate great stories — see the HousingWire Morning Radar for a perfect example — but do it so that clicks go to the Star-Telegram, not to LoanSafe.
The Google search engine may be fooled, but HousingWire is not.
-- Jacob Gaffney