The national economy slowed significantly from the second quarter in the first initial GDP estimate for the third quarter, with gains driven by military spending offsetting a slowdown in consumer spending and inventory investment.
Ocwen Financial missed analyst expectations by more than a dollar per share, posting a pretax loss of $75.3 million or $0.58 per share compared to a profit of $60.6 million and $0.39 one year ago as the company books a $100 million pretax charge for a potential settlement with the New York Department of Financial Services.
Trulia’s total revenue for the third quarter of 2014 was $67.1 million, up 67% year-over-year. Total subscribers as of Sept. 30 were approximately 77,900, an increase from approximately 74,000 as of June 30.
The market expected the announcement of the end of quantitative easing Wednesday, putting an end to a more than two-year-old asset purchase program. Now the market is left to adjust for where the next step could potentially be.
More than 40 California organizations join with the California Reinvestment Coalition in calling on the Consumer Financial Protection Bureau to strengthen the Home Mortgage Disclosure Act through greater transparency.
It’s over. The Federal Open Market Committee officially decided to conclude its two-year-old asset purchase program this month due to the substantial improvement in the outlook for the labor market and strength in the broader economy. The Zero Interest Rate Policy, on the other hand, remains in full effect.
Reading the New York Times is a great intellectual exercise because you get to read news articles and say to yourself, “Hmm. That’s interesting. I wonder if it’s true?” Today in the financial section, though, was an opinion piece on mortgage financing that had me instead asking, “Do you even English, New York Times?”
A wide range of companies making the 2014 HW Fast50 suggests that — are you ready for this? — maybe things aren't as bad in the U.S. mortgage and housing markets as some breathless press might otherwise suggest. After all, our rankings this year include mortgage insurers, investors, loan servicers, technology specialists and dot-coms, home builders, real estate services companies, mortgage bankers and more..
Last October, HousingWire highlighted several correspondent lenders and gave a broad overview of where this division of mortgage finance was heading. We are happy to report that those lenders are still doing a robust set of business, although the road remains no less rocky. But as we said last year, at least there’s a road to begin with. Read More
As our business moves into a new era of low profitability, increased expenses, and intense regulatory scrutiny, virtually every mortgage executive needs to experiment with ways to increase productivity and CFPB compliance while reducing overall operating costs. Read More