Tag Archives: Service Providers

David Stevens, president and CEO of the Mortgage Bankers Association (MBA), announced the appointment of Margaret A. Colon to serve as MBA's new chief administrative officer.

April saw continued growth in American optimism when it comes to housing health, according to results in Fannie Mae's monthly National Housing Survey. More than half of those who took the survey (51 percent, up from 48 percent in March) said they expect home prices to climb in the next year, while 10 percent--flat for the fourth straight month--expect declines. Thirty-five percent expect no changes. April's report marks the first time in survey history that more than half of respondents projected price gains.

Hiring fell 4.3 percent in March, the same month in which payroll job growth plunged, the Bureau of Labor Statistics (BLS) reported Tuesday in its monthly Job Openings and Labor Turnover Survey (JOLTS). Data from the report indicated there were 11.2 unemployed construction workers for every available job in March, up from 9.0 in February. By industry, the number of unemployed persons per job opening also increased in the manufacturing and information sectors.

The percentage of banks reporting stronger demand for mortgage loans rose in the second quarter, the Federal Reserve reported, with more banks easing lending standards.

New York Attorney General Eric T. Schneiderman revealed plans Monday to take legal action against Bank of America and Wells Fargo for allegedly violating terms under the national mortgage settlement reached in February 2012. The AG's office also revealed Schneiderman sent a letter last week to the settlement monitor Joseph Smith and to each member of the Monitoring Committee notifying them of his intention to sue the banks if the committee does not act.

W.J. Bradley Mortgage Capital, LLC, a privately held mortgage banking firm headquartered in Centennial, Colorado, announced that it is taking in the principals and employees of Legacy Group Lending, Inc., of Bellevue, Washington.

As the spring homebuying season moves into full swing, the American Land Title Association (ALTA) is encouraging consumers to consider title insurance to make sure their American dream is protected.

According to NAHB, the number of housing markets showing "sustained improvement" fell to 258 from April's 273.

Flagstar Bancorp, Inc., and MBIA Inc. announced a settlement between the two companies related to transactions on securities that flopped during the housing crisis.

In an analysis released in response to the Census Bureau's report that homeownership hit an 18-year low in the first quarter, Capital Economics warns that we may not have seen the bottom yet. The firm predicted last year that the homeownership rate would decline to a low of 64 percent--a forecast it insists will come sometime within the next year. One factor contributing to the downward trend in homeownership is tight lending standards, Capital Economics says.