Tag Archives: Attorneys & Title Companies

Realtor.com, a leader in online real estate operated by Move, Inc., is celebrating its 17th year of helping buyers find their dream homes. Since 1996, Realtor.com has seen its active user base grow by more than 20 million and has cultivated relationships with more than 800 multiple listing services (MLSs), more than any other real estate website.

Markets around the country suffered from inventory shortage in February, and Connecticut was no exception, according to data from the Warren Group.

Ocwen Financial Corporation announced the closing of its deal to acquire the country's largest reverse mortgage lender. The Atlanta-based financial services holding company announced in October it had entered into an agreement with Genworth Financial Corporation to purchase Liberty Home Equity Solutions, at the time known as Genworth Financial Home Equity Access. The purchase price was approximately $22 million. Ocwen CEO Ron Faris said the deal "positions [Ocwen] well in a market with enormous future growth potential."

First-time claims for unemployment insurance jumped an unexpected 28,000 to 385,000--the highest level since November--for the week ending March 30, the Labor Department reported Thursday. Economists expected claims to rise to 350,000. Initial jobless claims for the week ending March 23 were unchanged at 357,000.

CoreLogic's Home Price Index (HPI) posted its largest annual increase in nearly seven years in February. Among the largest metros, Phoenix posted the largest year-over-year increase at 20.8 percent. Other metros that posted double-digit increases included Los Angeles (+14.5 percent), Riverside (+13.2 percent), and Atlanta (+12.4 percent). Furthermore, CoreLogic's Pending HPI projects another 10.2 percent year-over-year increase. From February to March, prices are expected to rise by 1.2 percent.

Almost two-thirds of homeowners who purchased homes in the past 10 years consider their home-buying experience excellent or very good, according to survey results released Tuesday by TD Bank, based in Portland, Maine. About 55 percent of survey respondents rated their ability to find a good real estate agent and their experience with the inspection and appraisal process as "excellent" or "very good." However, finding the right lender proved to be trickier for many respondents.

While the refinance boom "is coming off the boil," mortgage application data for March has Capital Economics confident that home purchase application volume is in the early stages of a sustainable comeback. Applications for purchase loans rose 4.5 percent from February to March and 11.4 percent over the past year--indicating an upward trend, even if volume is still low by historical standards. March's final week saw a 1 percent bump in the Mortgage Bankers Association's measure of purchase application volume.

Rising costs took a toll on per-loan profits in the fourth quarter of 2012, according to data from the Mortgage Bankers Association (MBA). Independent mortgage banks and mortgage subsidiaries of chartered banks earned an average profit of $2,256 on each loan originated in Q4, down quarter-over-quarter from $2,465, MBA reported. The decline in profits came despite a rise in production volume. According to MBA, average production volume was $488 million per company in the Q4, up from $450 million in the prior quarter.

Capital Bank congratulated two of its rising stars Tuesday for their rankings as Scotsman Guide 2012 Top Originators. The 2012 list marks the second appearance of Brad Cohen and Brian Blonder in the ranks of top originators.

While most of the country spent the winter fighting blizzard conditions and flu symptoms, home prices made it through the season relatively unscathed. According to Clear Capital, home prices ended March with a 6.5 percent year-over-year improvement, while the quarterly gain was a modest 0.9 percent. Over the next three quarters, Clear Capital is projecting growth of 1.7 percent, which would bring the 2013 forecast to 2.6 percent. That growth will differ by region, with the Northeast leading in gains.