Judge throws out Fannie and Freddie investors’ lawsuit

More signs of a sliding housing market

Affordability has issues, too

Fannie: Millennial housing demand declines further

Fall comes even as housing affordability for young improves
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Lending

Mortgage applications decline 0.2% for week

Purchase apps down 11% from last year
Trey Garrison
Mortgage application activity for the week ending Sept. 26 was fell 0.2% on a seasonally adjusted basis, according to the Mortgage Bankers Association.
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Forsythe Appraisals adds Richard Shackelford as VP of business development

Brings experience in loan origination, loan operations
Ben Lane
In the new role, Shackelford will be responsible for the successful growth of both local and national client opportunities and brand recognition for the company.
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Florida bank to pay all employees “living wage”

First Green Bank ups wages and eliminates salary caps
Ben Lane
According to a report from CNN Money, the bank will be giving a raise to 17% of its 66 employees this week to raise their salaries to a level that’s at least double the minimum wage for the state of Florida.
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AllRegs named publisher for FHA single-family policies

Increases info management for the administration
Levi Shultz
“Since founding this company in 1989 my goal has been twofold; to create a central location where industry professionals can go for fast, reliable answers and to provide a cost-effective method of information management for all industry participants,” said Glenn Ford, founder and CEO of AllRegs.
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More signs of a sliding housing market

Affordability has issues, too
Lynn Effinger
Affordability issues; looming interest rate hikes as have been predicted by Federal Reserve Chairman Janet Yellen; too many FHA loans being made (this is the “new” sub-prime market); federal emphasis being placed on low-income borrowers, and other factors are causing house prices to decline once again in many markets.
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News Corp will buy Move for $950 million

Realtor.com may soon belong to Rupert Murdoch
Ben Lane
Under the terms of the acquisition agreement, which was announced on Tuesday, News Corp will acquire all of Move’s outstanding shares for $21 per share. According to a release from News Corp, that price represents a premium of 37% over Move’s closing stock price on September 29.
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Are your Facebook friends the future of your FICO score?

One financial expert thinks so
Ben Lane
“You could easily have a scenario in 10 years where a customer’s chances of credit are determined not only on their spending, but also on their friends, family members and their social profile,” Gi Fernando said. “By giving up a bit more information to the banks, you might stand to benefit in a wider choice of products.”
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CFPB fines Flagstar $37.5 million for mortgage servicing violations

CFPB: “At every step in the foreclosure relief process, Flagstar failed borrowers.”
Ben Lane
"Because of Flagstar’s illegal actions and unacceptable delays, struggling homeowners lost the opportunity to save their homes,” said CFPB Director Richard Cordray. “The Bureau has been clear that mortgage servicers must follow our new servicing rules and treat homeowners fairly. Today’s action signals a new era of enforcement to protect consumers against the cost of servicer runarounds.”
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Can Quicken Loans save Detroit?

Forbes: “Dan Gilbert is saving Detroit to help his business”
Ben Lane
Dan Gilbert, the founder and chairman of Quicken Loans, is still pushing to save the city of Detroit. He's invested millions in the revitalization of Detroit's downtown area and the results of his efforts are having a real impact on the recovery of the city and on Quickens Loans' business too.
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Pending home sales slowed in August

NAR forecasts existing home sales to be down 3% for 2014
Trey Garrison
Pending home sales slowed modestly in August but contract signings remain at their second-highest level over the past year, according to the National Association of Realtors. All major regions experienced declines except for the West, which rose for the fourth consecutive month.
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