News

MBA: Mortgage applications post quiet week

Applications slightly dip
Mortgage applications recorded another quiet week despite record low-interest rates and it being one of the busiest housing seasons of the year. And this is only the latest report in a series of up and application reports from the MBA.
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Federal court tosses #Fanniegate suit seeking to inspect Freddie Mac's records

Tim Pagliara, leader of Investors Unite, wanted a look at Freddie's books
In what is already being called a "blow to shareholders," a federal court in Virginia ruled Tuesday that a Freddie Mac shareholder does not have the right to inspect the government-sponsored enterprise's financial records, thanks to the conservatorship agreements that went into effect when the government took over Freddie Mac and Fannie Mae.
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Appraisal volume increases three weeks in a row

Housing market continues to plod along
For the first time in awhile, appraisal volume managed to increase for three consecutive weeks. While the four-week moving average did slightly decrease, it is not too far below the prior week, which was the highest non-holiday influenced four-week period since early spring.
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Nomura upgrades Altisource Residential on growing single-family rental business

Analysts bullish on company's potential for growth
Altisource Residential Corporation recently disclosed its second quarter financial results, reporting that it took a net loss of $63.5 million during the second quarter. But despite that loss, analysts from Nomura are bullish on the company’s future prospects. The reason? Altisource's growing single-family rental business.
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DOJ again rebuked in effort to enforce massive BofA 'Hustle' mortgage fine

Billion-dollar settlement for Countrywide home loans denied
Needless to say, the federal government probably isn’t too happy with the United States Court of Appeals for the Second Circuit right now. That's because for the second time in three months, the Second Circuit rebuked an effort by the government to extract one of the largest fines to come out of the housing crisis.
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New home sales post biggest July gain since the housing bust

Sales up by double digits in all areas
New home sales kept up the strong pace from June and soared in July, and while the news didn’t come as a surprise, it’s definitely welcome, according to these industry experts. Here’s proof that demand for new homes remains solid in a low interest rate, low unemployment environment.
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