The real reason Fannie and Freddie don't do principal modifications

Julián Castro sworn in, spends first day as HUD Secretary

Former San Antonio mayor takes over for Shaun Donovan

Blackstone adviser: Investors worried about ‘serious correction’

Byron Wien still holds his line
W S

Lending

New legislative proposal would turn the post office into a bank

USPS could offer small loans, other banking services
July 29, 2014

Representative Cedric Richmond, D-La., has introduced a bill, called The Providing Opportunities for Savings, Transactions and Lending Act (or POSTAL Act, because it just had to have the catchy acronym), which would allow the USPS to offer "basic financial services."


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Before reading into the homeownership rate drop…

Kolko puts numbers into perspective
July 29, 2014
Although the national homeownership rate is dropping slightly, it doesn't warrant a significant amount of concern, according to Trulia’s chief economist.
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4 tech troubles brokers and agents need to fix right now

The mortgage market could use this help
July 29, 2014
From agents approaching going mobile with the wrong priorities to brokers not using available data that could give great insight into their business to anyone not understanding the value of online ratings — there are many ways real estate professionals aren’t getting the most out of their technology.
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DOJ demands more in BofA, Countrywide deal

Deal hung up over penalties
July 29, 2014
The Department of Justice is not satisfied with its negotiations over Bank of America's cash penalty amount for the dealings of Countrywide and Merrill Lynch. The $13 billion is not enough.
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Julián Castro sworn in, spends first day as HUD Secretary

Former San Antonio mayor takes over for Shaun Donovan
July 28, 2014
"Julián has lived the American Dream in his own life, and I’m confident he will help Americans across our country seize their own piece of that dream for themselves and their children," President Barack Obama said when Castro was confirmed by the Senate earlier this month.
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DBRS: CFPB rules, tighter credit driving down mortgage originations

Until uncertainty with QM, ATR settled, many buyers will be shut out
July 28, 2014
Federal regulations coupled with a general shift from refinance to purchase activities have resulted in historically low volumes of mortgage loan originations, even though home prices have continued to rebound and delinquency and foreclosure rates are at their lowest levels in years.
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It’s official: Zillow will own Trulia

"Better agents make for better advertisers"
July 28, 2014
During a conference call on the deal, Rascoff said the real ad potential for the two companies, to make some serious profit, is working to move real estate marketing from offline to online.
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Black Knight: Home prices tick up 0.9% in May

Continues upward trend
July 28, 2014
Homes prices continue to trend higher and are now just 11% off the 2006 peak of $268,000. Meanwhile, Colorado and Texas both hit new peaks in May, reaching $269,000 and $195,000, respectively.
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Shifting gears on TILA-RESPA

Our weekly summary
July 28, 2014

How much of the TILA-RESPA rule implementation have you discussed and planned for in your organization?


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Goldman hired for Radian Asset selloff

Pending private mortgage insurance rules speed up process
July 25, 2014
Radian hired Goldman Sachs to evaluate interest in its financial guaranty business Radian Asset, according to Radian. The company has been in the runoff since 2008.
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