Events

According to a new report, first-time homebuyers now make up 60 percent of all home purchases. On GSE loans, first-time buyers comprise 47 percent of loans, while on FHA loans, they account for 82 percent. The uptick is likely due to an improved economy, lower unemployment, rising income, and more new home construction

According to a new report, FDIC-insured banks saw a jump in income over the first quarter. The institutions reports a 12.7 percent rise in revenues over the year. Total loan balances at FDIC banks are slowing down.

The highly anticipated hearing for the Consumer Financial Protection Bureau (CFPB) and PHH Corporation took place Wednesday in front of the Court of Appeals for the District of Columbia Circuit. The Court of Appeals agreed to revisit their October decision ...

The Director of the Federal Housing Finance Agency (FHFA), spoke about the FHFA and the FHLBanks at the 2017 Federal Home Loan Bank Directors’ Conference Tuesday. Mel Watt began with positive news about FHLBank performance and lead into the four main regulatory issues he would like to focus on. He stressed that the FHFA will carry out all work in a transparent manner.

News spread quickly through the mortgage industry on Monday that long-standing auction house Hudson & Marshall (H&M) is being acquired by Fidelity National Financial (FNF). While industry reactions poured in, FNF's “hold” ratings began to switch to “buy” in many research firms. As part of this acquisition, FNF company ServiceLink is launching ServiceLink Auction.

Between regulations, potential rate hikes, and the upcoming election, the mortgage industry will have plenty to focus on throughout the year. Dr. Umit Gurun, a Professor of Accounting and Finance at the Naveen Jindal School of Management at University of Texas at Dallas, provides DS News with insight on what the housing market picture may look like for the rest of the year.

The nation's leading online real estate marketplace, Auction.com, has recently moved two individuals up within the company – Lee Leslie has been named EVP and chief legal officer, and EVP Gordon Smith has been tapped for the position of general manager in the company's commercial real estate division.

The Federal Housing Administration (FHA) will be losing another officer when Patricia McClung, senior single family housing policy adviser at FHA, joins the Consumer Financial Protection Bureau (CFPB) next month as the assistant director of mortgage markets. Earlier this week, FHA commissioner Carol Galante announced her intention to step down from her post at the end of the year.