CoreLogic: Foreclosure inventory tumbles 35%

CoreLogic: Foreclosure inventory tumbles 35%

But don't celebrate just yet

Only “Number Jesters” report 2Q economic growth at 4% pace

Economic revisions infuriate

4 factors weighing down housing in the second half of 2014

Will housing collapse?
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Investments

Stewart 2Q profits plummet to $6.3M down from $26.9M in 1Q

Litigation and acquisition costs weigh on earnings
July 31, 2014
Stewart Information Services on Thursday reported net earnings attributable to Stewart of $6.3 million, or $0.27 per diluted share, for the second quarter 2014, compared to earnings of $26.9 million, or $1.09 per diluted share, for the second quarter 2013.
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Ocwen Financial posts 2Q revenue of $553.1M, up 2% Y/Y

Regulatory, compliance costs drag on $67M net income
July 31, 2014
Ocwen Financial reported net income of $67 million, or $0.48 per share, for the second quarter of 2014 compared to net income of $76.7 million, or $0.53 per share, for the second quarter of 2013
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Wall Street doesn’t see antitrust hurdles for Zillow’s Trulia acquisition

Deal would increase pricing power for combined entity
July 30, 2014
A survey of analysts, speaking off and on the record, showed that none had serious concerns about antitrust issues with the deal.
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Did Treasury plan to shortchange Fannie, Freddie investors?

As more layers peel away, a pattern forms
July 30, 2014
A report on TheStreet.com Tuesday focusing on the potential for conflict of interest in Blackstone serving as an advisor to the U.S. Department of Treasury missed a much bigger story.
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Sterne Agee: Housing continues to struggle

Builder opportunities exist in light of shrinking inventories
July 30, 2014
A note to clients from Sterne Agee reports on the state of the homebuilder market, which shows housing continues to struggle against falling inventories and subpar sales.
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REIT definition too broad?

Windstream cleared to form REIT
July 30, 2014
In a strategic move, Windstream was cleared by the IRS to reclassify most of its copper and fiber-optic lines as real estate. But not everyone is supportive of this venture.
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BEA: Initial 2Q GDP grows at 4% pace driven by consumer spending

Advance, incomplete estimate subject to two more revisions
July 30, 2014
Real gross domestic product increased at an annual rate of 4% in the second quarter of 2014, according to the "advance" and incomplete estimate released by the Bureau of Economic Analysis Wednesday.
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Investors Unite gets the cold shoulder at Guggenheim Securities

Maloni makes the case for keeping Fannie and Freddie
July 29, 2014
Guggenheim Securities held a by-invitation-only event last week in New York for big GSE investors, but members of Investors Unite — that is, the retail investors — were shut out. All except one, who spoke to HousingWire on the condition of anonymity.
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Case-Shiller: Home price gains declined in May 0.3%

Only Tampa and Charlotte saw price gains accelerate
July 29, 2014
Home price growth continued to slow in May as housing and the economy continue weakening trends, according to data through May 2014 in the S&P/Case-Shiller Home Price Indices, which shows housing prices posted a decline of 0.3% from April.
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The real reason Fannie and Freddie don't do principal modifications

Looking out for your retirement
July 29, 2014
Why is the government resisting principal mods? Because there is one big investor in MBS that the government is worried about – pension funds.
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