News

July 25, 2012 06:25 AM
Refinance activity hits 3-year high, mortgage applications edge up

The number of mortgage applications filed in the U.S. edged up a slight 0.9% for the week ending July 20 as refinance activity hit a three-year high, an industry trade group said.

The Mortgage Bankers Association noted its refinance index grew 2...

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July 25, 2012 06:24 AM
Refinance activity hits 3-year high, mortgage applications edge up

The number of mortgage applications filed in the U.S. edged up a slight 0.9% for the week ending July 20 as refinance activity hit a three-year high, an industry trade group said.

The Mortgage Bankers Association noted its refinance index grew 2...

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July 24, 2012 11:00 PM
SIGTARP: Taxpayers still exposed as AIG shrinks CDS portfolio

Taxpayers are still owed more than half their original investment in American International Group ($44.56 0.25%) even as its non-insurance...

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July 24, 2012 06:06 PM
SIGTARP: Taxpayers still exposed as AIG shrinks CDS portfolio

Taxpayers are still owed more than half their original investment in American International Group ($44.56 0.25%) even as its non-insurance...

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July 25, 2012 12:15 PM
Evasive second-lien holders thwarting short sales

Second-lien holders possess a quiet power to thwart the short-sale process, and their willingness to do so has prompted realtors and first-lien holders to bring the issue to the attention of policymakers.

With more distressed borrowers looking to escape their mortgages, the short-sale...

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July 24, 2012 07:41 PM
Evasive second-lien holders thwarting short sales

Second-lien holders possess a quiet power to thwart the short-sale process, and their willingness to do so has prompted realtors and first-lien holders to bring the issue to the attention of policymakers.

With more distressed borrowers looking to escape their mortgages, the short-sale...

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July 24, 2012 04:42 PM
Phoenix short sale prices flatten on faster liquidations

Phoenix home prices are on the rise, but short sales in the booming market remained flat in June.

High demand and shrinking supply pushed prices up 23% in June from last year, according to Fletcher Wilcox, a real estate analyst at Grand Canyon Title Agency. Digging...

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July 24, 2012 02:46 PM
CoreLogic takes in record profits in 2Q

CoreLogic ($26.85 0.63%) grew earnings and revenue to record levels in the second quarter.

The financial services firm reported net...

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July 24, 2012 02:43 PM
CoreLogic takes in record profits in 2Q

CoreLogic ($26.85 0.63%) grew earnings and revenue to record levels in the second quarter.

The financial services firm reported net...

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July 24, 2012 01:36 PM
Congress probes DOJ involvement in St. Paul disparate impact case

A House subcommittee is investigating what the Justice Department said to St. Paul, Minn. officials before the city withdrew its defense against a housing discrimination case from the Supreme Court.

Rental property owners sued St. Paul for enforcing housing codes and...

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July 24, 2012 11:24 AM
Cordray admits mortgage lending outside of QM unlikely

Lenders are unlikely to originate home loans outside of the upcoming Qualified Mortgage universe for up to three years, Consumer Financial Protection Bureau Director Richard Cordray told a House subcommittee Tuesday.

"It's hard to know what will happen in the long run in...

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July 24, 2012 11:19 AM
Cordray admits mortgage lending outside of QM unlikely

Lenders are unlikely to originate home loans outside of the upcoming Qualified Mortgage universe for up to three years, Consumer Financial Protection Bureau Director Richard Cordray told a House subcommittee Tuesday.

"It's hard to know what will happen in the long run in...

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July 24, 2012 09:13 AM
FHFA home prices rise 0.8% in May

U.S. home prices for the 12-month period ending in May rose 3.7% over last year, the Federal Housing Finance Agency said in its latest monthly House Price Index.

In addition, home prices grew a slight 0.8% from April to May, showing some signs of stability in the housing market....

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July 23, 2012 05:21 PM
Reverse mortgages as popular as IRAs in 10 years: Sente Mortgage

Reverse mortgages will be as ubiquitous as individual retirement accounts in 10 years because many folks will have more money in the former than in the latter, says Scott Norman, vice president of Austin, Texas-based Sente Mortgage's reverse mortgage division.

Norman says...

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July 23, 2012 05:19 PM
Reverse mortgages as popular as IRAs in 10 years: Sente Mortgage

Reverse mortgages will be as ubiquitous as individual retirement accounts in 10 years because many folks will have more money in the former than in the latter, says Scott Norman, vice president of Austin, Texas-based Sente Mortgage's reverse mortgage division.

Norman says...

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