Auction.com partners with Google to predict housing trends

The New York Times rambles, and mangles mortgages along the way

Mortgage finance and mortgage regulation aren’t the paper’s strong suits

10 reasons why people don’t get a mortgage

It’s not just because of finances
W S

Investments

Surge in federal defense spending boosts 3Q GDP

Inventory investment, consumer spending cool from 2Q
Trey Garrison
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.
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Radian Group posts net income of $154M in 3Q2014

Gains come from change in fair value of derivatives
Trey Garrison
Radian Group reported net income for the quarter ended September 30, 2014, of $153.6 million, or $0.67 per diluted share.
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Ocwen Financial moves from profit to loss

Beleagured nonbank books a $100M charge for potential settlement
Trey Garrison
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.
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Fidelity National Q3 revenue rises over 3Q13

$1.7 billion in total revenue equals 2Q14
Ben Lane
Fidelity’s third-quarter revenue of $1.7 billion equaled its second-quarter revenue, which also came in at $1.7 billion, and was also up from $1.6 billion in the second quarter of 2013.
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Trulia’s 3Q revenue surges as unique visitors soar 89%

The search for real estate starts online
Brena Swanson
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.
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QE3 ends, how long until interest rates rise?

Hensarling: "The end of QE is good news"
Brena Swanson
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.
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7 recommendations for CFPB to improve HMDA

Better measurements needed for home loans, mods, affordable housing
Trey Garrison
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.
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FOMC: Tapering is officially over

Economy expands at moderate pace
Brena Swanson
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.
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The New York Times rambles, and mangles mortgages along the way

Mortgage finance and mortgage regulation aren’t the paper’s strong suits
Trey Garrison

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?”


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Hilco Real Estate Finance sold, rebrands as Jordan Capital Finance

Will focus on “fix and flip” investors; offer lines of credit up to $5 million
Ben Lane
“Following such a successful first year and a half of lending, originating loans in approximately 20 states and rapid expansion of the operations, we decided that the time was right to carefully transition the company to a new capital partner that wanted to aggressively scale the business,” Hilco Real Estate CEO Neil Aaronson said.
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