CoreLogic: Foreclosure inventory tumbles 35%

CoreLogic: Foreclosure inventory tumbles 35%

But don't celebrate just yet

Only “Number Jesters” report 2Q economic growth at 4% pace

Economic revisions infuriate

4 factors weighing down housing in the second half of 2014

Will housing collapse?
W S

Lending

Only 1 mortgage company makes Black Enterprise 100 list

Another big year for ULS
July 31, 2014
Urban Lending Solutions, which provides a suite of mortgage-related services, was listed at number 19 on the Black Enterprise 100 list, down from 16 the year before. Revenue at the company last year was $168.6 million.
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Multifamily, commercial mortgage loans jump 34% in 2Q14

But still down 2% from 2013
July 31, 2014
Multifamily originations were down 10% over 2013s' second quarter, but up 32% over the first quarter of 2014.
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CoreLogic: Foreclosure inventory tumbles 35%

But don't celebrate just yet
July 31, 2014
"While 32 straight months of year-over-year decline in the foreclosure rate is cause for celebration, the total number of homes still in the foreclosure process remains almost four times as high as the average in the early 2000s," said Mark Fleming, chief economist for CoreLogic.
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Freddie: Mortgage rates still pushing buyers to market

Rates still hover at a low point for 2014
July 31, 2014
Mortgage rates once again showed very little change while remaining near their 2014 lows prior to a better-than-expected second-quarter gross domestic product reading, Freddie Mac reported Thursday morning.
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Black Knight boosts Fidelity 2Q14 earnings

Total revenue hits $1.7 billion
July 30, 2014
"We remain excited about the recurring nature of the revenue, the market positioning of our product offerings, the significant organic revenue growth opportunities and the strong EBITDA margins that Black Knight brings to FNF," said Chairman William Foley.
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BOK Financial posts $76M 2Q net income

Mortgage banking revenue reaches $29M
July 30, 2014
"The quarter’s results reflect the earnings power inherent in our diversified business model, as several lines of business grew this quarter, including energy lending, brokerage and trading, and mortgage banking," Steven Bradshaw, president and CEO of BOK Financial, said.
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Judge orders BofA Countrywide to pay $1.3B for toxic mortgages

Settlement is just over half what feds wanted
July 30, 2014
A federal judge has ordered Bank of America’s Countrywide unit to pay $1.3 billion in penalties for junk mortgages sold to the government sponsored enterprises in the years prior to the 2008 financial crisis.
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3 Fannie policy changes help open credit box

Waiting periods adjusted
July 30, 2014
Fannie Mae updated a handful of its policies regarding significant derogatory credit events, allowing more borrowers to jump back into the housing market.
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Only “Number Jesters” report 2Q economic growth at 4% pace

Economic revisions infuriate
July 30, 2014
If an economist or economists continue to miss the mark by under-forecasting economic growth and then back-pedal by saying the revised numbers were “unexpected,” they should disqualify themselves from being called economists.
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FTC: Bill collectors posed as cops to threaten arrest

Tried to collect debts discharged in bankruptcy
July 30, 2014
The latest Consumer Financial Services Alert, from law firm Ballard Spahr, highlights alleged nefarious tactics from bill collectors in New York, including threatening to arrest borrowers.
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