Headlines

CoreLogic, a leading global property information, analytics, and data-enabled services provider, recently announced that it has come out with the Insights App, a mobile app designed to enhance user perspective on U.S. and international property markets.

Though Fannie Mae was profitable in Q3, the Enterprise’s net income and comprehensive income both declined by more than 50 percent from the previous quarter when it reported totals of $4.6 billion and $4.4 billion, respectively. The decline in net income was primarily due to fair value losses which were partially offset by credit-related income.

As part of the partnership, Stewart Title Limited allows PEXA to cover the ‘lodgement gap’ in relation to transactions conducted on the PEXA platform by underwriting the risk.

VRM Mortgage Services (VRM), an outsourcing solutions provider for residential and commercial assets, recently announced that it has awarded a $10,000 grant to U.S. Air Force veteran Darryl Lal through the Asian Real Estate Association of America’s (AREAA) Education Foundation.

The distressed sales share, which includes sales of REO properties and short sales, was reported to be 9.3 percent for August 2015, down 2.3 percentage points from August 2014. August’s distressed sales share of 9.3 percent is the lowest since September 2007 and is less than a third off from its peak in January 2009, when it made up nearly a third of total residential home sales (32.4 percent).

Interest rates nearly took center stage in this banking testimony as Chair Yellen noted that the domestic economy is “pretty strong” and the “gradual rise in rates should not derail the housing market. Employment is going up, income is going up, and If the labor market improves, inflation will move up. December sounds incrementally more likely, but hinges on jobs reports.”

Nationwide Title Clearing (NTC), a privately-owned leading research and document-processing service provider for the nation’s largest financial institutions, investors, and servicers, has announced that users of its proprietary Final Documents Process were enjoying competitive advantages over other firms.

The bills were directed at improving transparency and accountability of the Financial Stability Oversight Council (FSOC), an agency created out of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.

The majority of the amount credited in the second quarter ($1.7 billion) went to modification of 9,671 loans. Another $186 million of the amount credited in Q2 went to extend 16,231 new home loans to borrowers in HUD-designated hardest-hit areas, borrowers who lost their homes to short sales or foreclosures, and low- and moderate-income borrowers.

The loss will not cause Freddie Mac to need another draw from Treasury since it was only a fraction of the $1.8 billion net worth reserve the Enterprise has under the Preferred Stock Agreement, according to Layton. The dividends paid into Treasury by Freddie Mac remained unchanged at $96.5 billion, which is about $25 billion more than the $71 billion the Enterprise received in a taxpayer-funded bailout in 2008.