Tag Archives: Attorneys & Title Companies

Freddie Mac's net profit for 2012 totaled $11 billion, a marked turnaround from 2011's net loss of $5.3 billion. According to the company's earnings release, the increase reflects a decrease in delinquent single-family loans, improved national home prices, and a higher income tax benefit. Freddie Mac CEO Donald Layton attributed the reversal to last year's strengthened housing market and the company's efforts to "minimize legacy losses and build a strong book of business."

Redfin's latest survey shows inventory shortage and rising prices are creating frustration for buyers trying to get in on the ground floor of the housing recovery.

Personal income dropped $505.5 billion, or 3.6 percent, and disposable personal income (DPI) fell $491.4 billion, or 4.0 percent, in January, the Bureau of Economic Analysis (BEA) reported Friday. The income drop was steeper than the 2.1 percent decline economists had expected.

As the vocabulary surrounding the housing market switches from crisis to recovery, the NAHB has deep concerns about factors currently limiting the recovery.

Private mortgage insurance dollar volume slipped month-over-month in January, according to data reported by Mortgage Insurance Companies of America (MICA). MICA member companies--Genworth Mortgage Insurance Corporation, Mortgage Guaranty Insurance Corporation, and Radian Guaranty Inc.--wrote $10.47 billion in primary new insurance in January, the trade association reported. That figure is down from December's reported $10.68 billion but a massive improvement over January 2012's $4.97 billion.

Following a vote in the Senate, Jack Lew is officially the Secretary of the Treasury. The Senate voted Wednesday 71-26 to confirm Lew, who was previously President Obama's chief of staff. Lew replaces Tim Geithner, who stepped down at the end of January; deputy secretary Neal Wolin had been filling in in the meantime.

HUD unveiled on Thursday an app for iPhone and iPad devices designed to provide the public and the housing industry with a quick and easy way to learn about the Fair Housing Act and to file discrimination complaints.

Mortgage rates finally broke their holding pattern this week, pulling back as reports demonstrated the housing market's ongoing strength and the global economy's precariousness. According to Freddie Mac's Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 3.51 percent (0.8 point) for the week ending February 28, dropping from 3.56 percent previously. Last year at this time, the 30-year FRM averaged 3.90 percent. Bankrate.com's weekly national survey showed rates falling to five-week lows.

Real gross domestic product (GDP) grew 0.1 percent in the fourth quarter, the Bureau of Economic Analysis (BEA) reported Thursday. Last month, in the advance GDP release, BEA had reported the nation's economy contracted by 0.1 percent, the first "negative growth" since the end of the Great Recession in mid-2009. Economists had expected the turnaround, but to a stronger 0.5 percent growth rate. BEA said the revision is based on more complete data than were available for the "advance" estimate issued last month.

A month after launching the product on Google play, BankersLab announced the release of its Banc-it: Scoring Edition app for iOS.