Tag Archives: Lenders & Servicers

Consumer optimism about the housing market and homeownership improved substantially in September, Fannie Mae reported. According to the GSE's September 2012 National Housing Survey, upward trends in home prices and downward trends in mortgage rates throughout the summer reinforced positive attitudes about where the market is headed. Confidence about the economy also grew in September, marking a turnaround from a year of pessimism. Regarding the overall economy, 41 percent of consumers believe the country is on the right track.

Home equity installment balances rose 0.3 percent in August--the first monthly increase since November 2007, according to Equifax. After plummeting 49 percent over the past four years to just $143 billion, the company contends August's uptick could signal "a possible turning point in mortgage demand." Equifax says amid signs the contraction in mortgage debt is slowing and delinquencies are trending down, it looks like positive growth may finally be taking hold in the mortgage market.

The percentage of homes purchased with cash slid down this year from its 2011 peak, suggesting heightened demand from non-investors.

Ocwen made some waves when it announced an agreement to acquire Homeward Residential Holdings in a nearly $750 million deal, but Fitch Ratings is doubtful about the move. The ratings agency announced it has placed Ocwen's "B" long-term Issuer Default Rating (IDR) on Rating Watch Negative following the financial corporation's announcement.

In September, Mortgage Guaranty Insurance Corporation (MGIC) wrote $2.2 billion in primary mortgage insurance.

Homeowners and potential first-time buyers couldn't be tempted by record-low mortgage rates last week, according to the Mortech Inc. and Mortgage Daily's U.S. Mortgage Market Index.

Those who thought they missed their opportunity to take advantage of record-low mortgage rates may not want to let go of hope just yet.

John L. MacFarland is joining Stewart National Title Services as a national business development representative. In his new role, he will work to bring in new commercial business with particular focus on initiating business in the Midwest.

Another major bank took a hit as the National Credit Union Administration (NCUA) filed a lawsuit against Credit Suisse Securities.

Rising home values in September brought homeowner equity to its highest level since the third quarter of 2008, according to the Obama administration's latest Housing Scorecard. According to the report, homeowner equity increased $406 billion, or 5.9 percent, to $7.3 trillion in the second quarter of 2012. After experiencing a turnaround into growth in the year's first quarter, total equity has grown $863 billion, or 13.5 percent, since the end of 2011.