News

NAHB: White House asked for our help to get Gorsuch on Supreme Court

Builders' group says will help work to avoid Democrat filibuster
With the threat of Democratic filibuster looming in the Senate, the White House is apparently turning to homebuilders for help with getting Neil Gorsuch confirmed as the country’s next Supreme Court Justice. And according a post from the National Association of Homebuilders, the group will answer the White House’s call.
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Trulia: Housing inventory tumbles to all-new low

Marks eighth consecutive quarterly decrease
Housing inventory decreased in the first quarter of 2017, hitting an all-new low. But while inventory for starter and trade-up homes is shrinking, premium home inventory is increasing. Trulia explains the reasons for the dwindling inventory, and the new threat rising home prices impose.
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OCC: Charts prove borrowers keep getting better at paying their mortgage

Four charts break down servicing at the top seven banks
Keeping up with the rest of the year, the Office of the Comptroller of the Currency’s latest quarterly report on mortgages showed that borrowers are continuing to get better at paying their mortgages. The report falls in line with previous reports that showed the overall performance of mortgages improving from the previous year.
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Placester continues growth with $50 million capital raise

Funding round doubles previous investment in company
Over the last few years, Placester, a Boston-based real estate marketing platform, experienced rapid growth, raising $50 million in three rounds of funding and acquiring RealSatisfied, an Australian company that provides a suite of customer satisfaction tools that provides big data insights to brokers, agents and brands. Now, Placester is growing again.
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Nomura: Don't make too much out of Nationstar CFO's departure

Appears there's nothing "behind the curtain"
Earlier this week, Nationstar Mortgage surprised the market a bit when it announced that its chief financial officer, Robert Stiles, is departing the company. But according to a report from Nomura, not only does there not appear to be a hidden story behind Stiles' departure, the company likely won’t suffer at all with Amar Patel serving as interim CFO.
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Value of housing market hits 10-year high

Equity rises above mortgage debt
The value of the housing market reached its highest point in 10 years and surpassed the pre-crisis peak. This increase was fueled by rising home prices as home equity reached an all new high of $14 trillion.
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CFPB proposes amendments to Equal Credit Opportunity Act

Gives new flexibility on collecting ethnicity and race information to align with HMDA
The Consumer Financial Protection Bureau announced it is reassessing the Equal Credit Opportunity Act in order to provide lenders with additional flexibility when collecting consumer ethnicity and race information. The new proposal looks to clarify, through rulemaking, the parts of Regulation B that seem to conflict with Regulation C requirements on collecting this information.
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First American: Fraud and misrepresentation grew in February

Rising rates bring increase in adjustable rate mortgages
First American released its monthly Loan Application Defect Index, which showed loans became more risky in February due to increasing interest rates and a move toward adjustable rate mortgages. What else is behind the rise in these riskier loans? Click the headline to read more.
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