In an effort to give greater attention to what the company says is an “underserved” market, Carrington Mortgage Services announced Monday its intent to put a tighter focus on borrowers with credit scores in the sub-640 range.
Read More »Employment Cuts Reflect Changes in Mortgage Industry
Although employment is being reduced, the need for certain types of talent is more critical than ever, according to Rick Glass, founder of R.T. Glass & Associates, one of the mortgage banking industry's leaders in executive search since 1993.
Read More »FHFA’s HPI Up .5 Percent in January
January, 2014 experienced an increase in house prices, which rose by .5 percent on a seasonally adjusted basis from the previous month. According to the Federal Housing Finance Agency (FHFA) House Price Index (HPI), for the year beginning January, 2013 to January 2014, the HPI increased by 7.4 percent. Prices have increased for 23 of the last 24 months, beginning in February, 2012.
Read More »S&P/Case-Shiller Index Shows Improvement in January
The S&P/Case-Shiller Home Price Indices, released Tuesday, showed a 0.8 percent seasonally adjusted month-over-month improvement in January, topping the 0.7 percent gain forecast in a poll of economist conducted by Reuters. On an unadjusted basis, the 20-city composite index posted its third monthly decline at -0.1 percent. The 10-city index ticked up a negligible amount, meanwhile.
Read More »Illinois Posts Decrease in Home Sales; Increase in Price
A new report issued by the Illinois Association of Realtors (IAR) found a decrease in home sales and an increase in median price in February. The IAR noted that median prices increased 6.9 percent, while home sales decreased by 6.2 percent last month.
Read More »Unchanged Home Prices Raises Questions
The Data & Analytics division of Black Knight Financial Services (BKFS) reported no monthly change in its Home Price Index (HPI) for January. The latest report from BKFS underlines questions as to where other home price reports—including the monthly Case-Shiller Home Price Indices—will land.
Read More »Spring Expected to See Increased Growth from Q1
Fannie Mae's Economic & Strategic Research Group expects economic growth in the first quarter to come in around 2.0 percent, but thereafter, the economy should pick up. Economic growth for the year is expected at 2.7 percent, according to the research group.
Read More »Increased Inventory and Prices Help Florida Housing Market
Florida's housing market experienced higher median prices, more new listings, and fewer days on the market in February, according to the latest housing data released by Florida Realtors. A stable inventory helped close sales reach a statewide total of 15,826, a 1.5 percent increase of the previous year.
Read More »2014 Home Sales Depend on Strong Job Market
Freddie Mac released its latest Economic and Housing Market Outlook, expecting home sales to grow along with wages this year, despite a still-tough job market in most sectors. Freddie is projecting a 3 percent rise in home sales and a 20 percent rise in new home construction in 2014, which the agency expects to level out to a 5 percent overall growth.
Read More »Survey: Small Banks Frustrated by Dodd-Frank
The results of a recent small-bank survey found small banks are facing rising compliance costs, and finding it harder to serve customers, due to the new regulations from the Dodd-Frank Wall Street Reform and Consumer Protection Act.
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