3 quick takeaways from the mortgage conference happening right now

3 quick takeaways from the mortgage conference happening right now

Tidbits from SourceMedia Mortgage Servicing conference

Stewart Information Services 1Q earnings suffer from mortgage reductions

Posts net loss of $12.1 million

New home sales plummet 14.5% in March

Spring buying season off with a whimper
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Lending / The Ticker

U.S. overspends budget

Government posts $98 billion budget deficit in July

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The United States spent $98 billion more than it took in last month, with the deficit primarily driven by spending on healthcare programs and pensions for the elderly, and the military, Reuters reported.

However, the U.S. has run full-year budget deficits since 2001, and especially since 2009 when a hike in unemployment fueled higher spending on the social safety net.

Source: Reuters
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