FHFA leaving g-fees alone, revising primary mortgage insurance requirements

FHFA leaving g-fees alone, revising primary mortgage insurance requirements

Move will lower fees for riskier borrowers; change is ‘revenue neutral’

Housing advocacy groups call on FHFA, CFPB to investigate “pro-foreclosure” tactics

Groups cite Ocwen as leader in preventing mortgage defaults

Court filing reveals name of anonymous whistleblower in Zillow/Move lawsuit

Former Zillow VP of Strategic Partnerships wrote the letter
W S

Investments

Will unprecedented mortgage lending finally save Detroit?

Bank of America, NACA partner to offer zero-down, below market rate mortgages
Ben Lane
A newly created program, called the “Detroit Neighborhood Initiative,” is based on a partnership between the city of Detroit, the Neighborhood Assistance Corporation of America, the Opportunity Resource Fund and Bank of America, and the program goes to unprecedented lengths to help restore the city to its former glory.
Read More

Housing advocacy groups call on FHFA, CFPB to investigate “pro-foreclosure” tactics

Groups cite Ocwen as leader in preventing mortgage defaults
Ben Lane
A consortium of housing advocacy groups is calling on the U.S. Department of the Treasury, the Federal Housing Finance Agency, and the Consumer Financial Protection Bureau to investigate “pro-foreclosure campaigns,” which the groups say are being perpetrated by “Wall Street giants including the largest hedge funds, mortgage bond traders, and insurance companies.”
Read More

Weakness in the economy may push back rate hike pressure

All signs point to a weak March but that’s not affecting consumer confidence
Trey Garrison
Growth is tepid for the index of leading economic indicators. With softness in consumer price inflation, will the Fed really want to raise interest rates in the third quarter, or hold steady?
Read More

Court filing reveals name of anonymous whistleblower in Zillow/Move lawsuit

Former Zillow VP of Strategic Partnerships wrote the letter
Trey Garrison
A new filing in the ongoing lawsuit between Zillow and Move names the anonymous whistleblower: the former Zillow Vice President of Strategic Partnerships. Want more? Read on.
Read More

Zillow Group offering free public data access to MLS partners

Offer comes as Zillow works to bring in more listings after ListHub divorce
Trey Garrison
Shoring up its listings losses, Zillow Group is getting innovative in its approach to bringing in new listings with an offer to MLS partners — data, data, data. The war continues.
Read More

Here’s how housing market corrections drag on GDP

Chicken or egg, here's why it’s so important to get housing policy right
Trey Garrison
Housing market corrections coincide with a country's GDP being 6% lower on average than if it had continued on its growth path before prices peaked. Surprised? Or worried?
Read More

Is it really risky business at Fannie, Freddie?

Viable alternatives or the same old mistakes?
Trey Garrison
A little risk in life is a good thing, and everyone deserves a chance to prove they can do better than they have. But some say the housing policies being pursued may sound awfully familiar. Maybe, just maybe, the GSE are on to something good.
Read More

Citigroup net income jumps $4.45 billion in 1st quarter

Rises from $350 million in 4Q14 to $4.8 billion in 1Q15
Ben Lane
Citigroup reported net income for the first quarter 2015 of $4.8 billion, or $1.51 per diluted share, on revenues of $19.7 billion. The results of the first quarter were a dramatic reversal from 2014’s fourth quarter when Citigroup reported a net income of $350 million, or $0.06 per diluted share, on revenues of $17.8 billion.
Read More

Goldman Sachs just had its best quarter in 4 years

Reports 1st quarter net revenue of $10.62 billion
Ben Lane
Business appears to be booming at Goldman Sachs. The investment banking, securities and investment management giant reported net revenue of $10.62 billion in the first quarter, its best quarterly performance in four years.
Read More

These are the top 5 single-family home markets in America

Auction.com rates them on price, demand and more
Trey Garrison
Based on rising home prices, favorable affordability, strong housing demand, and excellent economic and demographic conditions pointing to future demand, Auction.com has named the five top single-family housing markets. Did your market make the cut?
Read More