Tag Archives: Agents & Brokers

Freddie Mac's Primary Mortgage Market Survey (PMMS) showed surprisingly little life this week following the better-than-expected jobs report for September. While rates did rise for the week ending October 11, most increases were mild. The 30-year fixed average posted the largest growth, rising to 3.39 percent (0.7 point) from 3.36 percent├â┬ó├óÔÇÜ┬¼├óÔé¼┬Øa record low├â┬ó├óÔÇÜ┬¼├óÔé¼┬Øthe week before. Bankrate's survey saw more dramatic increases, with the 30-year fixed hiking up seven basis points to 3.59 percent.

After a three-year battle, Ellie Mae and software developer DocMagic reached a settlement over an antitrust suit, the companies announced jointly. DocMagic first filed against Ellie Mae in August 2009, alleging antitrust violations, intentional interference with contractual relationships, interference with prospective economic advantage, and unfair competition, according to a company release sent out at the time.

First-time claims for unemployment insurance fell to 339,000├â┬ó├óÔÇÜ┬¼├óÔé¼┬Øthe lowest level since February 2008├â┬ó├óÔÇÜ┬¼├óÔé¼┬Øfor the week ended October 6, the Labor Department reported Thursday. The drop was far steeper than market expectations of 370,000 initial claims. In addition, the previous week's report of 367,000 initial claims was revised up to 369,000. The claims filings appeared to lend some credence to the report last week when the nation's unemployment rate had fallen to 7.8 percent, the lowest level since January 2009.

The FTC alleges Equifax sold more than 17,000 lists of people who met specific criteria, such as being late on their mortgage payments. Equifax is said to have sold the lists to Direct Lending Source, Inc., which in turn sold the lists to other third parties. The lists included information such as credit scores and detailed how many days past due consumers' mortgage payments were.

The legal proceedings between MBIA Insurance Corporation and Countrywide Home Loans turned into a blame game as the companies battled over liability.

The nation's economy generally expanded modestly from mid-August until the end of September, the Federal Reserve said in its periodic Beige Book report issued Wednesday. The report, the last Beige Book to be issued prior to Election Day, painted a mixed regional picture, with a leveling off of economic activity in New York and a slowing in the pace of growth in Kansas City. Meanwhile, the remaining 10 federal reserve districts reported that "growth continued at a modest pace."

The Community Mortgage Lenders of America (CMLA) is now 100 members strong, the organization announced.

The price premium attached to newly-built homes has fallen over the past six months, Capital Economics observed.

After having a banner week at the end of September, mortgage applications decreased to start October, the Mortgage Bankers Association reported.

The Federal Housing Finance Agency released a revised GSE Strategic Plan for the years 2013-2017 Tuesday.