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  • Chronos Solutions acquires UPF Services

    Chronos Solutions announced its latest business move, finalizing its acquisition of UPF Services. Matt Slonaker, executive vice president of sales and marketing for Chronos Solutions, first alluded to the acquisition in an interview with HousingWire back in July. Now only a few weeks later, Slonaker and Andrew Gladston, senior vice president of corporate development at Chronos Solutions, revisited with HousingWire to give the full details of the acquisition. Click the headline to read what this means for their mortgage business.

Items Tagged with 'Housing Economy'

ARTICLES

Despite "largely positive" news, FOMC holds on raising interest rates in July

Next meeting scheduled for September
The Federal Open Market Committee chose to forgo raising the federal funds rate in its latest July meeting as the market starts to recover from the initial impact of Brexit. The news, however, appeared more upbeat, leaving people to question what will happen in the next meeting. As it stands, there are only three meeting left this year.
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Fitch: Brexit to bring another tough round of earnings

Blame MSRs…again
Remember this year's rough first-quarter earnings season thanks to historically low interest rates? Well, according to a new report from Fitch, the market might experience it all over again. This time Brexit is to blame. It's not bad for everyone though. Fitch pinpointed that this group will get hit the worst.
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Consumer sentiment down even before Brexit news

Drops in June
Just hours after the news that British voters decided to leave the European Union, the U.S. released its monthly consumer sentiment report for June, revealing that consumers already had a slightly dimmer view of the economy before the Brexit news.
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First quarter GDP revised higher to 0.8%

Based on more complete data
The year started out better than originally estimated, according to the "second" GDP estimate released by the Bureau of Economic Analysis. National Association of Federal Credit Unions Chief Economist Curt Long noted that this is another in a string of positive data releases which will provide plenty of ammunition for the Fed to raise rates no later than July.
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Pending home sales surge to 10-year high

Seller's market overcomes industry roadblocks
Despite tight inventory and affordability concerns, Pending home sales still increased for the third consecutive month in April, surging to the highest level in over a decade. Here's why Lawrence Yun, National Association of Realtors' chief economist, said sales are beating the odds.
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Fannie Mae 1Q net income slips to $1.1B

Expects to pay $919 million to Treasury
Fannie Mae managed to post a first-quarter net income of $1.1 billion, faring better than most others in the industry that posted a net loss due to the first quarter’s historically low interest rates. Timothy Mayopoulos, president and CEO of Fannie Mae, said, "The changes we have made to the company have put us in a stronger position to fulfill our responsibility to deliver safe, affordable mortgage financing for our customers, in all markets at all times."
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Freddie Mac reports $354M net loss in first quarter

But no draw needed from U.S. Treasury
Freddie Mac reported a $354 million net loss in the first quarter, significantly down from its $2.2 billion net income recorded in the fourth quarter of 2015. The news is a reminder of the GSE's net loss in the third quarter of 2015, which marked the first loss in four years. But despite the news, Freddie CEO Donald Layton remains positive on the results.
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Capital Economics: GDP growth likely to underwhelm in 2016

GDP rises 0.5% in 1Q
While some of the headwinds that restricted first-quarter GDP growth will disappear in the second half of the year, it would still take a lot to salvage GDP for the year. And as the Bureau of Economic Analysis cautions, the first-quarter advance estimate is based on data that is incomplete or subject to further revision.
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Pending home sales jump to highest level in nearly a year

Housing market to finally slowdown in the West Coast?
Overcoming several roadblocks in housing, including rising home prices and low housing supply, pending home sales managed to increase in March for the second consecutive month, reaching their highest level in almost a year. However, this positive news changes depending on the region.
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