The Federal Trade Commission has settled with Fidelity National Financial, Inc. (FNF) on a complaint over the title giant’s proposed $2.9 billion acquisition of mortgage technology and services provider Lender Processing Services (LPS), according to a statement from the FTC on Tuesday. …read more
Monthly Archives:: December 2013
New home sales slipped 2.1 percent in November
New home sales fell slightly in November, dropping 2.1 percent after surging one month earlier to a five-year high. Sales volume fell to a seasonally-adjusted annual rate of 464,000 during November, the Commerce Department said, down from a revised 474,000 total one month earlier. October’s annual sales pace had represented a 17.6 percent jump versus […]
I’m dreaming of a Watt Christmas
Mortgage-bond trader Russell Middleton at J.P. Morgan Securities Inc. is unique — every day for at least a decade, he has been circulating insightful, often hilarious bond market commentary amongst friends and colleagues. …read more
Bill Deutsch – Stockton Record
Bill DeutschStockton RecordBill spent most of his adult life in Stockton, working in different fields of Real Estate, while acquiring his Masters in Business. The last 23 years he spent as an MAI, Commercial Appraiser. Bill loved the Notre Dame Fighting Irish never missing a … …read more
$285000 face-lift almost complete for Tioga Apartments in Merced – Sacramento Bee
$285000 face-lift almost complete for Tioga Apartments in MercedSacramento BeeAfter an extensive inspection from a third-party consultant in July, the owners handed management duties to Stockton-based BLR Commercial Real Estate. The company officially took over Sept. 7. New on-site manager Rose Montez said 30 apartments in the … and more …read more
Foreclosures kept falling in Sacramento region in October
Foreclosures and delinquent mortgages continued falling in October across Sacramneto, El Dorado, Placer and Yolo counties …read more
Leveraged loans made a comeback in 2013
If there is one trend that emerged quite strong in 2013, it was the rise of the leveraged loan – otherwise known as debt extended to borrowers who are already considered risky or leveraged with debt in some way. …read more
Famous people who died in 2013 – Stockton Record
Famous people who died in 2013Stockton RecordSouth Vietnamese general who briefly gained control of the government in a coup and went on to lead a “government in exile” in California. Jan. 11. Eugene Patterson, 89. Pulitzer Prize-winning editor who helped fellow Southern whites understand the … and more …read more
Florida Real Estate Developer Trims Fat, Estimates Rise – Forbes
Florida Real Estate Developer Trims Fat, Estimates RiseForbesThe St. Joe Company (JOE) is a real estate developer with more than 500,000 acres of land, concentrated primarily in Northwest Florida between Tallahassee and Destin. Over the years, the company has developed successful residential and commercial … and more …read more
What we’re reading today
As the year draws to a close and sleigh bells are a-ringing, here’s a look at what we’re reading on the web. …read more
CFPB, DOJ file discriminatory lending complaint against National City Bank
The CFPB and Department of Justice slapped National City Bank — a firm bought by PNC — with a lending discrimination complaint, claiming minority borrowers unfairly paid more for mortgages originated between the years 2002 and 2008. …read more
Milestone: FHFA says 3 million homeowners saved from foreclosure
The Federal Housing Finance Agency reached a milestone this week, announcing the completion of more than 3 million foreclosure prevention actions since the agency’s conservatorship of the GSEs began in 2008. …read more
New FHFA director stops rate hikes short
The Mortgage Bankers Association is welcoming the announcement from incoming Federal Housing Finance Agency Director Rep. Mel Watt, D-N.C.’s announcement that he will be postponing planned increases in fees at Fannie Mae and Freddie Mac. …read more
Housing Outlook 2014: 10 Predictions From The Experts – Forbes
Housing Outlook 2014: 10 Predictions From The ExpertsForbesRealtor.com notes that the inventory (homes available for purchase) shortage began to soften in February. New construction and rising prices should bring more homes, both new and old, on to the market in 2014, helping inventory return to traditional … and more …read more
Red Lobster Release Not Enough, Activist Investor Tells Darden – Forbes
Red Lobster Release Not Enough, Activist Investor Tells DardenForbesBarrington also recommended that Darden turn its real estate holdings into a real estate investment trust (REIT), a suggestion also seemingly echoed by Starboard in its reference to Darden’s real estate holdings. A spokesperson for Darden told Forbes … and more …read more
FBR: 2014 good for housing, not so much for economic growth
The coming year will see the continued slow-but-steady recovery in housing and housing-related industries, minimal interest rate movements, less than stellar economic growth, and an improving purchase market, market analysts claim in a new report. …read more
LPS: US loan delinquency rate edges up 2.63%
The US delinquency rate year-over-year fell 9.41%, while the month-over-month change in the foreclosure pre-sale inventory rate fell 1.72% while the year-over-year rate declined 28.81%. …read more
HousingWire’s most viewed stories of 2013
What news stories did HousingWire readers view the most in 2013? A look at page view data suggests REITs and tax breaks for borrowers in certain situations captured a majority of the attention. …read more
Single-family refi purchases still dominate Freddie’s portfolio
Freddie Mac continues to shrink its mortgage portfolio, with its total mortgage portfolio falling at an annual rate of 2% in November. …read more
Mortgage rates will go up in 2014 and the middle class is going to feel the burn of higher fees on mortgages: Can this momentum continue into 2014?
By drhousingbubble The Fed’s archaic language makes it very clear that there will be no taper anytime soon. To the contrary, the Fed will still be buying something like $75 billion a month in bonds instead of $85 billion. What bold movement right? Of course this sent the stock market into another easy money induced […]
Stonegate Mortgage Corp. finalizes purchase of Crossline Capital
Mortgage servicer and originator Stonegate Mortgage Corp. finalized its purchase of mortgage lender Crossline Capital on Friday, in a move that effectively expands its retail channel and grows its geographic area. …read more
Loan Mods down 5% from Sept.-Oct
Hope Now said Friday that about 50,000 homeowners received permanent, affordable loan modifications from mortgage servicers in October 2013, both through private sector programs and the federal Home Affordable Modification Program (HAMP). …read more
RE/MAX: Home sales drop 7.8%
After 28 months of year-over-year increases, home sales dropped 7.8% following expected seasonal adjustments, including rising rates and the government shutdown. …read more
Monmouth Real Estate Investment’s Series B Preferred Stock Crosses Above 8 … – Forbes
Monmouth Real Estate Investment’s Series B Preferred Stock Crosses Above 8 …ForbesIn trading on Friday, shares of Monmouth Real Estate Investment Corp’s 7.875% Series B Cumulative Redeemable Preferred Stock (NYSE: MNR.PRB) were yielding above the 8% mark based on its quarterly dividend (annualized to $1.9688), with shares … …read more
Lenders receive compliance guidance
The Mortgage Bankers Association Education released a compliance guide to help explain the Ability to Repay and Qualified Mortgage rule, which includes information for basic training for staff and operational rule requirements. …read more