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Two Data Points Undermine ‘Truther’ Claims

Debating continued two days after Barack Obama and Mitt Romney met in Denver, not between the candidates but over the monthly Employment Situation report showing the unemployment rate dropped to 7.8 percent, the first sub-8.0 percent unemployment rate since January 2009.

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Prices in Phoenix Get Boost from Thinning Foreclosure Inventory

Phoenix home prices continue to rise, while investment activity appears to be slowing down, according to a report from DataQuick. From January to August, the number of homes lost to foreclosure totaled 19,998, a decrease of 49.5 percent from the same period a year ago, San-Diego-based DataQuick reported.

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Cityside Director Touts Rental Strategy for Alleviating Foreclosure Effects

Hard-hit markets are aching for stabilization that only occupancy can remedy, Marlene Minemier, director of national portfolio management for Cityside Management Corporation, told colleagues at a recent industry conference. ""It is my belief that the emerging REO rental model is a viable, real-world solution allowing tenancy to be an attractive preservation technique,"" Minemier said as she presented her position during a panel discussion on rentals vs. traditional sales.

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Fitch Puts Ocwen on Negative Watch, Cites Risks after Acquisition

Ocwen made some waves when it announced an agreement to acquire Homeward Residential Holdings in a nearly $750 million deal, but Fitch Ratings is doubtful about the move. The ratings agency announced it has placed Ocwen's ""B"" long-term Issuer Default Rating (IDR) on Rating Watch Negative following the servicer's announcement. Fitch cited in its decision the risks of various difficulties involved in the integration of Homeward Residential, as well as the current regulatory environment in the mortgage sector.

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GSEs Update Servicing Requirements

As part of the Servicing Success Program, Freddie Mac and Fannie Mae are aligning their expectations for servicers regarding a variety of criteria. However, while basic criteria will align, the weights and targets for various criteria may differ between the GSEs, according to an announcement from Freddie Mac. Freddie Mac recently released a bulletin to detail changes to the Servicer Success Scorecard, repurchase timelines for servicer violations, updates to compensatory fee requirements, and revisions to the GSE's servicer termination and transfer requirements.

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Subprime Servicers Improve Cash Flow in Q2: Report

Overall, major subprime servicers improved their ability to limit losses on delinquent loans in the second quarter, according to the Servicer Dashboard report from Moody's Investors Service. Moody's uses a cash flow efficiency metric to measure how much cash a servicer collects relative to losses. The report revealed that the cash flow efficiency metric increased for subprime servicers, rising from 0.27 in Q1 to 0.29 in Q2, the highest level obtained over the past five quarters.

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MGIC Releases Report on Cures, Delinquencies for September

In September, Mortgage Guaranty Insurance Corporation (MGIC) wrote $2.2 billion in primary mortgage insurance. MGIC, which is a principal subsidiary of MGIC Investment Corporation, also reported it began the month with 150,388 loans in delinquent inventory and ended with 148,885 loans.

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Reactions Vary on Unemployment Report

Experts across the country wasted no time in responding to Friday's unemployment report, and the responses ranged from celebration to healthy skepticism. According to a report from the Bureau of Labor Statistics (BLS), the unemployment rate in September fell to a 44-month low of 7.8 percent. The White House pointed to the data as a sign of a recovering economy.

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