Lawsuit alleges former LandCastle Title CEO embezzled $30 million

Lawsuit alleges former LandCastle Title CEO embezzled $30 million

Nat Hardwick allegedly used funds for private jets, gambling

Fannie Mae: Lenders ask these 4 questions about MSRs

All about transfer and execution

Fidelity National bails out Landcastle Title

Discovered “substantial account misappropriations”
W S

Investments

Vacancies drop again in Invitation Homes rental securitizations

Continues downward trend
Ben Lane
In Invitation Homes’ $1 billion single-family rental securitization, which launched earlier this year, the cash flow vacancy rate of the underlying properties fell to 5.4% as of July 31, down from June’s revised figure of 6.2%.
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Lawsuit alleges former LandCastle Title CEO embezzled $30 million

Nat Hardwick allegedly used funds for private jets, gambling
Ben Lane
The lawsuit alleges that former CEO Nat Hardwick used his access to “systematically deplete” the firm’s and title company’s accounts for “his personal benefit.” According to the court records, Hardwick allegedly misappropriated at least $30 million from the companies’ accounts through various measures. The news came to light after Fidelity National Financial bailed out LandCastle Title and stepped in as 70% owner.
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Want a preview of where the 2Q GDP revision is heading?

The CBO has a clue for one and all
Trey Garrison
Well, today the Congressional Budget Office released its revised estimate of the total 2014 GDP. Take a good guess what it bodes for Thursday's Bureau of Economic Analysis GDP revision.
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Are home prices the latest evidence housing is stalling, or bubbling?

It gets better? No, it gets worse – just like job growth and wage stagnation
Trey Garrison
The housing industry is not happy about recent housing data, including Tuesday’s home price releases, and it looks like it’s going to get worse before it gets better.
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FHFA: Home price growth up 0.8%, well below 2013 levels

Second quarter slowdown in growth continues pattern
Trey Garrison
The Federal Housing Finance Agency shows that U.S. house prices rose just 0.8% in the second quarter of 2014, according to its purchase-only, seasonally adjusted House Price Index
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Case-Shiller: Home prices continue to slow as housing stalls

Year-over-year returns down across the board
Trey Garrison
Home price growth showed a sustained slowdown in price increases, S&P/Case-Shiller Home Price Indices says.
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HousingWire asks if immigrants can save housing, Fannie Mae answers yes

Immigrant ownership grew as native ownership dropped in the 2000s
Trey Garrison
Immigrant homeownership rates grew through the 2000s even as native-born homeownership declined after the bubble burst.
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This New York penthouse can be yours for just $110 million

It’s easy: First, you need to get $110 million
Trey Garrison
Somewhere, someone has an index on how record-setting residential prices correlate to the price of gold, the length of women’s skirts, and so on. Mark 2014 as your year for record setting residential prices.
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San Francisco earthquake rattles jumbo mortgage-bond collateral

Magnitude 6.0 earthquake should serve as risk reminder
Ben Lane
Sunday’s magnitude-6.0 earthquake should serve as a reminder that bond investors need to weigh the inherent risks that come with investing in the San Francisco market. The foundation of those investments is literally built on shaky ground.
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This 1 chart shows why housing can’t shake the bad news blues

And yet every report comes in as “unexpected” to some
Trey Garrison
Going into Monday’s report on new home sales, analysts were predicting new home sales would come in above the 430,000 annualized rate, which would have been a 6% gain. Instead we got a 2.4% decline. A big swing and a miss. "Unexpectedly," of course.
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