Zillow announced Friday that it expects to close the acquisition of Trulia by February 17, following the announcement of the conclusion of a Federal Trade Commission investigation. Zillow first announced its intention to acquire Trulia in July 2014 for $3.5 billion.
Read More »Nationwide Title Clearing Recruits New National Account Executive
Florida-based mortgage industry research and document-processing provider Nationwide Title Clearing (NTC) has announced the hiring of Todd Gomes as national account executive.
Read More »REO Properties Net Largest Share of Cash Sales
REO sales posted the largest residential cash home sales share in November 2014 with more than 60 percent, according to CoreLogic's new cash sales data released on Wednesday.
Read More »Firm Announces Class Action Suit Against Servicer Over Relationship With Ocwen
In its complaint, the firm alleges that HLSS, which deals in the acquisition of mortgage servicing assets, made misleading statements and failed to disclose to investors how much its own business depended on Ocwen's and the extent of Ocwen's troubles.
Read More »International Document Services Names First-Ever CEO
International Document Services (IDS), a mortgage document preparation vendor operating out of Salt Lake City, has promoted former EVP Mark Mackey to CEO.
Read More »Agency MSR Portfolio With $736 Million in UPB Up For Bidding
A sizable new portfolio of agency mortgage servicing rights (MSR) has come to market with days left to go before bidding ends.
Read More »Economic Momentum Drives Consumers’ Optimism Toward Housing Market
The share of respondents in Fannie Mae's survey who said their household income is "significantly higher" than it was a year ago climbed 4 percentage points to a survey high of 29 percent, the company reported. Looking ahead, 48 percent said they expect their finances to improve in the next year, also a survey high. Overall, 44 percent of Americans said they believe the economy is on the right track, an increase of 3 percentage points and only a few points less than those saying the economy is headed the wrong way (49 percent). That optimism spurred 66 percent of those surveyed to say they would buy a home if they had to move, a jump from 61 percent at the end of 2014.
Read More »ARMCO Adds Advanced Reporting with Tableau Integration
ACES Risk Management (ARMCO), a Florida-based provider of Web-based quality control software for the mortgage industry, announced this week the addition of new enhancements to its Web Audit Technology via integration with analytics software leader Tableau Software.
Read More »January’s Payroll Additions Beat Forecasts; Unemployment Rate Inches Upward
The unemployment rate, which is measured from a separate household survey, ticked up slightly to 5.7 percent from December's 5.6 percent, reflecting an increase in the number of Americans looking for work. After accounting for annual adjustments to population controls, BLS said the civilian labor force rose by 703,000 in January, bringing the labor force participation rate back up to a still-low 62.9 percent.
Read More »Ocwen CEO Expects Company’s Earnings To Take Q4 Hit After Ratings Downgrade
Weeks ahead of the anticipated release of Ocwen's fourth-quarter earnings report, CEO Ron Faris has issued a notice that the company expects to see a loss based on mounting regulatory pressures, expenses, and a recent ratings downgrade by a major credit ratings agency.
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