Nationstar Holdings posts $48.3M loss in first quarter

Nationstar Holdings posts $48.3M loss in first quarter

Lower servicing revenue proves heavy drag

5 things mortgage lenders need to do before TILA RESPA goes into effect

Compliance is important

Monday Morning Cup of Coffee: Home price and wage divergence raise alarms

Plus the endgame for two billion-dollar R&W settlements?
W S

News

Freddie Mac reports profit of $524M in first quarter

Marks fourteenth consecutive quarter of positive earnings
Trey Garrison
Freddie Mac reported net income of $524 million for the first quarter of 2015, compared to $227 million for the fourth quarter of 2014. The solid quarter is the 14th in the black for the government sponsored enterprise. Here's how it broke down.
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Nationstar Holdings posts $48.3M loss in first quarter

Lower servicing revenue proves heavy drag
Trey Garrison
Nationstar Mortgage Holdings reported a first-quarter loss of $48.3 million, after reporting a profit in the same period a year earlier. Here's what pulled down the Texas-based servicer to a performance well below expectations.
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CoreLogic: Homes prices rose in March up 5.9% annually

Tight inventory pushes prices up in key markets
Home prices nationwide, including distressed sales, increased by 5.9% in March 2015 compared with March 2014, according to the latest home price index from CoreLogic. Here's what happened to boost price tags.
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PRMG adds Phil Gouskos as regional manager

Will oversee Central and Midwest regions
Ben Lane
In this new role, Gouskos will be responsible for originations in the company’s three business channels: residential lending, retail lending and wholesale lending.
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Redwood Trust turns in “disappointing” first quarter

Net income falls from $27 million to $15 million
Ben Lane
Low interest rates sent Redwood Trust's net income down again in the first quarter of 2015, falling from $27 million in the fourth quarter of 2014 to $15 million in the first quarter. In a letter to shareholders, Redwood’s CEO, Marty Hughes, and president, Brett Nichols, said they were “disappointed” by the results of the first quarter.
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Quicken Loans raises $1.25 billion with debt issuance

Majority will flow to Dan Gilbert’s Rock Holdings
Ben Lane
Quicken Loans raised $1.25 billion last week with a bond issuance, according to a report from Bloomberg. Per the report, the vast majority of the money will go to Rock Holdings, Quicken’s parent company, and Dan Gilbert, the founder and chairman of Quicken and majority owner of Rock Holdings.
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Fed: Loan demand surges as standards ease heading into spring

5 charts show what bankers think
Brena Swanson
The housing market started off on solid footing this year as lenders said they witnessed an increase in mortgage lending demand while credit standards eased simultaneously. These five charts show just how big of an increase it was.
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Fidelity National revenue rises for fourth straight quarter

Low interest-rate environment yields results
Ben Lane
For the fourth straight quarter, Fidelity National Financial saw its revenue rise over the previous year’s total. The title insurance giant reported total revenue of approximately $1.6 billion in the first quarter of 2015, up from $1.4 billion in the first quarter of 2014.
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Investor gets 4 years in $21.8M flipping scheme

Found guilty of federal wire fraud
Trey Garrison
A real estate investor was found guilty of wire fraud and ordered to pay $21.8 million in restitution plus forfeit another almost $4 million in proceeds. Here's how they got him.
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Zillow: Lowest paid workers in 1/3 of markets can’t afford cheapest homes

Homeownership remains very affordable for high earners
Trey Garrison
Incomes among the lowest third of U.S. workers have risen 15% since 2000, while home values are up 41%. The divergence is growing and so is the problem.
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