HousingWire TECH100 winner FormFree issued pioneering patent

HousingWire TECH100 winner FormFree issued pioneering patent

All-digital verification is now a thing

Ginnie Mae ditches paper and goes eMortgage

Electronic filing to start very soon

Fannie Mae offers new suite of HomePath financing

Goodbye HomePath Mortgage and HomePath Renovation
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News

Home price increases boost PulteGroup revenue and profit in 2Q2014

New home construction orders down slightly from 2Q2013
July 24, 2014
PulteGroup (PHM) posted net income was $42 million, or $0.11 per share, after pretax charges of $88 million, or $0.14 per share, for insurance reserves and office relocation costs for the second quarter of 2014.
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D.R. Horton posts net income of $113.1M

Pre-tax impairment costs drive down D.R. Horton earnings
July 24, 2014
Fort Worth-based D.R. Horton, the largest U.S. homebuilder, said fiscal third-quarter earnings declined as sales margin shrank and it incurred $54.7 million in pretax costs.
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1 in 6 homes still seriously underwater as home price growth slows

Down 26% from 2013, but decline slowed with slowing price gains
July 24, 2014
Some 9.1 million U.S. residential properties were seriously underwater in the second quarter, representing 17% of all properties with a mortgage, RealtyTrac reports.
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CoreLogic slashes 2014 mortgage origination estimate by 10%

Still reports revenue growth of 13%
July 23, 2014
CoreLogic’s second-quarter revenue increased to $349.4 million, which was also up 0.4% from 2Q13. The company said that the increase was “despite an estimated 50% contraction in U.S. mortgage volumes.”
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HousingWire TECH100 winner FormFree issued pioneering patent

All-digital verification is now a thing
July 23, 2014
The move toward digital lending appears officially unstoppable as FormFree Holdings just received a patent for AccountChek, the world's first automated asset verification system for the lending industry.
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CHLA challenges FHFA IG report on risk from smaller nonbank lenders

Report lacks evidence to support claims, ignores other key factors
July 23, 2014
The Community Home Lenders Association is challenging the Federal Housing Finance Agency IG report issued last week which had raised concerns about risks to the GSEs from increased loan purchases from smaller nonbank mortgage lenders.
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Single-family rental companies swallow small investors

Small companies priced out of market
July 23, 2014

Smaller investors with limited capital or deadlines to repay investors are now selling houses as bigger firms eagerly wait to buy them out.


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The first: Jefferies trader Litvak gets 2 years for TARP fraud

Sole conviction of rogue RMBS trader carries $1.75M fine
July 23, 2014
Former Jefferies & Co. Managing Director Jesse Litvak was sentenced to two years in prison for lying to clients about mortgage-backed securities, Bloomberg is reporting. The conviction is the first of its kind and very rare generally.
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A $4.25M home in Rancho Mirage for the Obamas?

Wherever they end up, it’s going to affect the neighbors
July 23, 2014
Outgoing and semi-retired President Obama is reportedly eyeing a home in Rancho Mirage listed at $4.25 million, and the first family might be closing before the month is out.
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IMF forecasts interest rates lower than Fed's estimates

Rate path well below Fed's median rates
July 23, 2014
The Federal Reserve will be able to hike rates gradually given the slack in the labor market and continued low inflation, with the first rake higher likely to come in midsummer of 2015, according to the International Monetary Fund.
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