News

Modest to moderate economic growth was reported in 11 of the 12 Federal Reserve Districts in the October 2014 Current Economic Conditions Beige Book released on Wednesday.

Several mortgage lenders have asked the Nevada Supreme Court to reverse a decision it made in September that a homeowners association's (HOA) super priority lien can extinguish a first deed of trust nonjudicially on a residential property.

Bank of America's Q3 earnings took a hit from a record $16.65 billion settlement with the Justice Department and other federal and state agencies in August to settle charges against the bank related to the sale of toxic mortgage-backed securities. That settlement cost the bank $5.3 billion (pretax), or $0.43 per share after tax.

New York-based mortgage financial consulting company RRMS Advisors has begun working with clients who want to revive the Private Loan Securitization (PLS) market.

North Carolina-based real estate law firm Shapiro & Ingle has announced the formation of a Bankruptcy Litigation Department at their firm with Kimberly A. Sheek heading the new department.

Americans between the ages of 30 and 49 are the most likely right now to limit their monthly spending, according to Bankrate. The company notes Americans in that age range are in their prime years for buying a house or a car or starting a family.

According to RealtyTrac's 2014 Election Housing Market Scorecard released on Tuesday, 33 out of 35 counties in Colorado with sufficient housing data to score ranked in the "better off" category, meaning that the housing market in those counties is better off than it was two years ago.

A total of 811 U.S. county housing markets (52 percent) were rated as "better off" than they were two years ago, compared to only 11 percent (176 markets) categorized as "worse off," according to RealtyTrac's 2014 Election Housing Scorecard released on Tuesday.

Mortgage banking net income was $439 million, down $266 million from a year ago and $270 million from the prior quarter. Much of the year-over-year decline stemmed from a reduced benefit from credit loss provisions—$19 million compared to last year's $1 billion.

Citigroup reported an increase of 7 percent in its net income from $3.2 billion up to $3.4 billion year-over-year in the company's 2014 Third Quarter Earnings Report released on Tuesday.