Tag Archives: Attorneys & Title Companies

The principal reduction debate resurfaced after 45 members of the House of Representatives--led by Rep. Elijah E. Cummings (D-Maryland) and John F. Tierney (D-Massachusetts)--sent a letter to President Obama, urging him to replace Federal Housing Finance Agency (FHFA) Acting Director Edward J. DeMarco with a permanent director.

Nationstar Mortgage Holdings, Inc., announced the acquisition of Equifax Settlement Services Holding, LLC.

An Internet poll conducted by Lake Research Partners and released by Small Business Majority shows 80 percent of small business owners believe Wall Street and financial companies should face tougher rules and enforcement following the financial crisis. The remainder believe those companies have showed enough evidence of change that further regulation is unnecessary. Additionally, a combined 66 percent expressed their opinion that the level of government oversight should increase or is about right the way it is.

The Wholesale Lending Division of California-based Carrington Mortgage Services announced two new programs designed to assist brokers and borrowers quickly and easily close in the tight housing market. As part of its "Three Day Turn Time Promise" program--offered only for the month of February--the company will decision any eligible FHA or conventional purchase loan within three days of the time it is submitted to underwriting or waive its underwriting fee of $995.

Consumers are showing increased confidence in home sales and a greater sense of job security, according to the results of Fannie Mae's most recent National Housing Survey. January's findings show 41 percent of respondents believe home prices will go up in the next year, a decline of 2 percentage points from December's high. However, the share who believe prices will fall also dropped, returning to a survey low of 10 percent. The average 12-month home price change expectation in January was 2.4 percent.

Keefe, Bruyette & Woods released its predictions of what actions the government is and is not likely to take to further assist the housing market.

After spiking,, fixed mortgage rates held their ground last week as the economy showed signs of stability, at least for the near future.

First-time claims for unemployment insurance continued to move sideways, dropping 5,000 to 366,000 for the week ending February 2, the Labor Department reported Thursday. The four-week moving average for first time claims fell 2,250 to 350,000--the lowest level since March 2008, a strong signal of an improving labor market.

As more markets across the country improved, all 50 states--plus the District of Columbia--were able to receive representation in February's Improving Markets Index (IMI) released by the National Association of Home Builders (NAHB) and First American. Last year during this time, just 36 states were represented.

The House Financial Services Committee assembled to hear from experts on the the Federal Housing Administration's (FHA) current financial situation.