Will housing headwinds flatten home sales?

Will housing headwinds flatten home sales?

Auction.com: Market maintaining current momentum

Wilbur Ross quits Ocwen Financial

Distressed asset investor bringing his magic to Bank of Cyprus

Dustin Johnson levels blockbuster claims at title attorneys

Is Nat Hardwick the fall guy?
W S

News

GuardHill Financial names Melissa Cohn president

Company plans expansion
Ben Lane
GuardHill Financial, a New York City-based mortgage banker and mortgage company, has named Melissa Cohn as the company’s new president. In this role, Cohn will lead the company’s day-to-day operations and “help drive forward the strategic vision for the company,” GuardHill said in a release.
Read More

Freddie Mac to make loan-level loss data available to investors

Aims to increase transparency in credit risk-sharing offerings
Ben Lane
"It is important for investors to have this expanded view of credit risk, especially as we continue to grow and evolve our credit risk offerings,” said Kevin Palmer, vice president of single-family strategic credit costing and structuring for Freddie Mac.
Read More

Court rulings in unpaid HOA fees raise risk in RMBS, SFR deals

Moody’s: Newer deals have provisions to mitigate risk
Trey Garrison
A new report from Moody’s Investors Service spotlights how recent rulings by the highest courts in Nevada and Washington, D.C. on unpaid HOA fees raise risk in residential mortgage-backed securities and single-family rental securitizations.
Read More

Fannie Mae partners with Detroit to demolish foreclosed homes

GSE will sell vacant properties to Detroit Land Bank
Ben Lane
In what the parties are calling an “initial transaction,” Fannie announced that it will sell 44 foreclosed properties to the Detroit Land Bank Authority “for a nominal fee,” and contribute funds for the demolition of some of the properties.
Read More

Lag in housing starts, employment drag on October economy

Chicago Fed index shows slowing economic activity
Trey Garrison
The economy slowed in October, with much of the drag coming from a weakness in housing and consumption and a slowdown in employment growth and production.
Read More

Wolters Kluwer Financial Services offers demo of TILA-RESPA product

Compliance, workflow software for lenders in new environment
Trey Garrison
Wolters Kluwer Financial Services is rolling out TILA-RESPA focused compliance and workflow solutions, offering live demos of the product for potential clients to deal with the regulatory rules that go into effect industry wide on Aug. 1, 2015.
Read More

Will housing headwinds flatten home sales?

Auction.com: Market maintaining current momentum
Trey Garrison
Auction.com’s Nowcast report projects that existing home sales for November will fall between seasonally adjusted averages of 5.05 and 5.46 million annual sales, with a targeted number of 5.25 million.
Read More

Home prices dropped in September for the first time since January

Black Knight: Drop was miniscule but present
Trey Garrison
At the national level, Black Knight’s September home price index reports that U.S. home prices were down slightly in September - the first time any decrease had been observed since January 2014.
Read More

Monday Morning Cup of Coffee: Mortgage giants warm to principal reduction?

Also 2015 housing finance forecasts galore and key mortgage industry metrics
Trey Garrison
Is principal reduction about to become more common? Who hit the bulls-eye in forecasting 2014, and who just offered bull? And of those hawkeye prognosticators, what do they have to say about 2015? Get it here and get it early.
Read More

$4.8 billion portfolio of Fannie, Freddie MSRs hits market

Available from “a highly reputable mortgage banking company”
Ben Lane
"These offerings provide an excellent opportunity to finish off your year with the purchase of a substantial amount of extremely low interest rate, high quality MSRs from a highly reputable mortgage banking company," said Interactive Mortgage Advisors, which is acting as the exclusive broker for the seller.
Read More