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Author Archives: Tory Barringer

Tory Barringer began his journalism career in early 2011, working as a writer for the University of Texas at Arlington's student newspaper before joining the DS News team in 2012. In addition to contributing to DSNews.com, he is also the online editor for DS News' sister publication, MReport, which focuses on mortgage banking news.

Freddie Mac Reaches Repurchase Settlement with Citigroup

Citigroup and Freddie Mac have reached an agreement to settle potential future repurchase claims on millions of loans sold to the GSE in the last decade. According to a release from Citi, the bank will pay Freddie Mac $395 million, all of which is covered by its existing mortgage repurchase reserves as of the end of Q2.

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Report Shows Home Price Rebound in Nearly 25 Percent of Key Markets

July property data from Homes.com shows that property values in nearly one-quarter of the top 100 U.S. markets have fully recovered. According to the site’s latest report, 22 of the top 100 markets in the United States reported price increases of more than 100 percent from their respective troughs, up from 19 the month prior.

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Low Expectations Weigh Down Consumer Confidence

Consumer confidence dipped in September as Americans expressed doubt over the current direction of economic conditions. The Conference Board’s Consumer Confidence Index, which picked up to 81.8 in August following a drop the month prior, fell to 79.

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Housing Analyst Raises Concerns of Artificial Price Appreciation

With home prices continuing to rise at accelerated rates, John Burns Real Estate Consulting is warning clients in certain areas--particularly in California and Florida--to be mindful of the artificial price boosts home flippers can bring to the market. In a recent report, one of the firm's analysts said the popularity of home flipping in the media is fueling exaggerated expectations of returns from amateur investors.

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Mortgage Returns Launches Analysis Report for Marketing

Mortgage Returns, a St. Louis-based provider of marketing and customer relationship management (CRM) solutions for the mortgage industry, announced the launch of its Business Analysis Report, an in-depth report offering information on production statistics, marketing return on investment (ROI), customer retention, and loan officer performance.

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Foreclosure Litigation Declines in Q1, Activity Still High

Among all cases, those related to foreclosures were the most active, with 74 cases moving forward, according to first-quarter data from Mortgage Daily. However, that was still a drop from that category's peak. An accompanying white paper released by Ballard Spahr LLP suggests the decline in foreclosure-related cases has more to do with the drop in foreclosure filings during the period. Cases involving loan modifications also decreased as foreclosure filings normalized--though dissatisfaction still remains high.

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Survey Shows Strong Support for Financial Regulation

As the calendar approaches September 15, marking the anniversary of the collapse of Lehman Brothers, the nation is reminded of that historical event which severed the very fabric of our financial system. It's been five years since that fateful day, and the Center for Responsible Lending (CRL) says Americans--regardless of political party, age, race, or locale--overwhelmingly support financial regulation, and in particular, increased consumer protections.

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Interest Rates Hold Ground After August Jobs Report

August's mixed employment numbers did little to move mortgage rates this week, according to surveys from Freddie Mac and Bankrate.com. The GSE's study shows the average 30-year fixed rate staying put at 4.57 percent for the week ending September 12. By Freddie's assessment, that figure is up more than a full percentage point from 3.55 percent this time last year. Bankrate put the 30-year fixed-rate mortgage at 4.71 percent this week, down from 4.72 percent last week and up from 3.81 percent in mid-September 2012.

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Real Estate Firms Anticipate Increased Profits, Competition

The majority of real estate firms responding to a survey from the National Association of Realtors (NAR) expect profits--and competition--to heat up over the next year as the housing market continues to look up, the association. ""Two out of three real estate firms expect competition in the marketplace to increase, both among firms and nontraditional market participants,"" said Paul Bishop, NAR's VP of research. ""Because real estate is an entrepreneurial field, some experimentation in business models is likely when the market is in a recovery phase.""

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