Mortgage application defects keep rising

Mortgage application defects keep rising

Michigan, Florida, Texas lead First American application defect index

Monday Morning Cup of Coffee: When will mortgage lending pick up?

Plus, more on the future of Fannie and Freddie

Fannie Mae: 3 reasons why this oil glut won't crash housing

It isn't the 1980s anymore
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Investments

At bloggerheads: The latest #FannieGate rumor challenged by the media

Settlement rumors stir up fracas among analysts, investors and media
Rafferty Capital’s Dick Bove recently told clients a Presidential round of golf, included a lawyer whose firm is at the center of the #FannieGate debacle, suggests the White House is pushing everyone to reach a settlement. Seemed harmless enough, but by the afternoon, things started getting really interesting.
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Penthouse owned by ‘Psychic Hotline King’ is NYC’s 2nd most expensive rental

The man who brought us Miss Cleo commands $100K a month in rent
The man who was once called the “Psychic Hotline King," and the man that brought “Miss Cleo” into everyone’s TV throughout the 1990’s with their omnipresent infomercials, is also now the landlord commanding the second highest rent in all of New York City. Yes, you read all of that right.
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Ex-Fifth Third banker starts mortgage-bond hedge fund

Cincinnati Business Courier takes a look at Mariemont Capital
Meet Kevin Taylor. In 2013, he left his position running mortgage-backed securities trading desk at Fifth Third Bank to start Mariemont Capital. And according to a report from the Cincinnati Business Courier, Taylor is finding success investing in residential mortgage bonds and delivering big returns for his investors.
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Trending Thursday: Fed chills on Great Fall of China?

Plus bringing private capital back to Fannie, Freddie and more
How much will the China and global equities plunge inform the Fed’s September meeting on rates? What’s the housing situation in New Orleans a decade after Katrina? And can private capital return to mortgage finance if it’s not sure that capital is safe? Read on.
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Seattle’s ‘Up’ house is getting its own movie

Edith Macefield fought encroaching development, story now Hollywood-bound
The tale of the small Seattle-area home that rose to fame after the owner famously turned down $1 million for her home even as a shopping mall was being built around her and was once used to promote the Disney film “Up,” because of its similarities to the movie, is now headed to Hollywood itself.
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New home sales jump 5.4% in July to 507K

July’s reading a 25.8% gain in one year
New home sales showed solid if expected gains in July. And while volatility is common for new home sales, other housing data released last week suggest it's not a blip, analysts say. Here's the breakdown.
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Dow crash will only temporarily slow housing stocks

The bigger picture in the industry remains more worrisome
Within minutes of the opening bell on Wall Street this morning, as we are all now well aware, the Dow Jones Industrial Average was off by 1089 points. While I have been predicting a negative turn of economic events here in the U.S. created by fanciful delusions that our economy is in growth mode, I believe what we are experiencing is actually a "pressure release valve" being activated.
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