MISMO, the non-profit standards development subsidiary of the Mortgage Bankers Association (MBA), announced Monday it is seeking nominations to serve on its Residential and Commercial Governance Committees. The committees are responsible for providing strategic and tactical guidance to MISMO's workgroup and standards development activities.
Read More »Deloitte: Home Price Gains Boost Consumer Spending in September
A significant increase in home prices helped push Deloitte's Consumer Spending Index up in September, the company reported.
Read More »Citigroup Posts Decline in Third-Quarter Net Income
Higher mortgage revenues helped Citigroup see retail banking revenues increase 35 percent to $1.7 billion from the third quarter of 2011.
Read More »A.M. Best Sees ‘Encouraging Signs’ for Title Insurers
Citing "positive developments occurring in the housing market," A.M. Best is maintaining a stable ratings outlook for title insurance.
Read More »Redfin: September Home Prices Avoid Usual Seasonal Retreat
Home prices in September were up 5 percent year-over-year while home sales posted a 4 percent annual increase, even as housing metrics began their typical seasonal declines, according to Redfin's analysis of activity across 19 major U.S. markets. Between August and September, these 19 markets saw prices decline just 0.8 percent, which Redfin says is a smaller decline than is customary at this time of year. Over the same period, home sales dropped 17 percent├â┬ó├óÔÇÜ┬¼├óÔé¼┬Øa figure the company says represents "a typical seasonal decline."
Read More »Wells, JPMorgan Post Record Quarterly Profits
Increased mortgage-related revenue pushed both Wells Fargo and JPMorgan Chase to record quarterly profits in 3Q 2012, the banks reported.
Read More »Analysts: Record-Low Rates Give Weak Boost to Refinances
Even with the record-low mortgage rates seen today, refinancing numbers are still not as high as expected. In CoreLogic's most recent MarketPulse report, Sam Khater and Molly Boesel noted, "the overall level of refinancing is still low given current mortgage rates, and there are still many homeowners nationwide with above market rates." Despite the new expansions from HARP 2.0, including the removal of its 125 percent LTV ceiling, other restrictions are still preventing homeowners from refinancing.
Read More »Report: Texas Pays Highest Effective Mortgage Rates
According to a report from Opera Solutions, Texas pays one of the nation's highest weight average coupon rates on its mortgages.
Read More »Billy Bob Thornton’s Beverly Hills Abode Lists for $9.95M
Listing his estate in Beverly HIlls for just under $10 million, Oscar-winning actor Billy Bob Thornton is moving on. The 11,012-square-foot mansion, a Spanish-style home built in the 1920s, is currently on the market for $9.995 million.
Read More »Industry Leaders Focus on Workforce Housing
Workforce Housing in the New Economy took center stage during a recent conference hosted by the University of Miami's School of Business Administration, School of Architecture, and Office of Civil and Community Engagement. Featuring expert commentary from past and present leaders for the Department of Housing and Urban Development (HUD), the Bipartisan Policy Center, the Consumer Federation of America, and Habitat for Humanity, the Florida-based event provided insight into the policies, programs, and regulations that are impacting housing for U.S. workers.
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