CoreLogic: Foreclosure inventory tumbles 35%

CoreLogic: Foreclosure inventory tumbles 35%

But don't celebrate just yet

Only “Number Jesters” report 2Q economic growth at 4% pace

Economic revisions infuriate

4 factors weighing down housing in the second half of 2014

Will housing collapse?
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News

Only 1 mortgage company makes Black Enterprise 100 list

Another big year for ULS
July 31, 2014
Urban Lending Solutions, which provides a suite of mortgage-related services, was listed at number 19 on the Black Enterprise 100 list, down from 16 the year before. Revenue at the company last year was $168.6 million.
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Multifamily, commercial mortgage loans jump 34% in 2Q14

But still down 2% from 2013
July 31, 2014
Multifamily originations were down 10% over 2013s' second quarter, but up 32% over the first quarter of 2014.
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CoreLogic: Foreclosure inventory tumbles 35%

But don't celebrate just yet
July 31, 2014
"While 32 straight months of year-over-year decline in the foreclosure rate is cause for celebration, the total number of homes still in the foreclosure process remains almost four times as high as the average in the early 2000s," said Mark Fleming, chief economist for CoreLogic.
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Freddie: Mortgage rates still pushing buyers to market

Rates still hover at a low point for 2014
July 31, 2014
Mortgage rates once again showed very little change while remaining near their 2014 lows prior to a better-than-expected second-quarter gross domestic product reading, Freddie Mac reported Thursday morning.
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Stewart 2Q profits plummet to $6.3M down from $26.9M in 1Q

Litigation and acquisition costs weigh on earnings
July 31, 2014
Stewart Information Services on Thursday reported net earnings attributable to Stewart of $6.3 million, or $0.27 per diluted share, for the second quarter 2014, compared to earnings of $26.9 million, or $1.09 per diluted share, for the second quarter 2013.
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Ocwen Financial posts 2Q revenue of $553.1M, up 2% Y/Y

Regulatory, compliance costs drag on $67M net income
July 31, 2014
Ocwen Financial reported net income of $67 million, or $0.48 per share, for the second quarter of 2014 compared to net income of $76.7 million, or $0.53 per share, for the second quarter of 2013
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Black Knight boosts Fidelity 2Q14 earnings

Total revenue hits $1.7 billion
July 30, 2014
"We remain excited about the recurring nature of the revenue, the market positioning of our product offerings, the significant organic revenue growth opportunities and the strong EBITDA margins that Black Knight brings to FNF," said Chairman William Foley.
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BOK Financial posts $76M 2Q net income

Mortgage banking revenue reaches $29M
July 30, 2014
"The quarter’s results reflect the earnings power inherent in our diversified business model, as several lines of business grew this quarter, including energy lending, brokerage and trading, and mortgage banking," Steven Bradshaw, president and CEO of BOK Financial, said.
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House committee says no one is being held accountable for CFPB discrimination

Director Cordray touts diversity officer, listening session efforts
July 30, 2014
CFPB Director Richard Cordray was excoriated by Republicans for not holding any senior management accountable for the history of discrimination, while Democrats said Republicans just want to defang the regulatory bureau.
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Judge orders BofA Countrywide to pay $1.3B for toxic mortgages

Settlement is just over half what feds wanted
July 30, 2014
A federal judge has ordered Bank of America’s Countrywide unit to pay $1.3 billion in penalties for junk mortgages sold to the government sponsored enterprises in the years prior to the 2008 financial crisis.
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