Home / (page 1580)

PEMCO to Launch New Site

PEMCO, an asset management company headquartered in Honolulu, Hawaii, will launch a new website August 13. The launch of PEMCO-limited.com represents the final stage of the company's nine month re-branding campaign.

Read More »

Fannie Mae Reports $10.1B Profit in Q2

Fannie Mae&'s second-quarter profits nearly doubled year-over-year, the GSE reported. The company reported Thursday net income of $10.1 billion in Q2 2013 compared to $5.1 billion for Q2 2012. It was the sixth consecutive quarter of profit for Fannie Mae. Comprehensive income totaled $10.3 billion, again nearly double that of the same quarter last year ($5.4 billion).

Read More »

FHFA Calls Eminent Domain ‘Threat’ to GSEs, May Consider Legal Action

As local governments consider the use of eminent domain to seize underwater mortgages, they may have to deal with the Federal Housing Finance Agency (FHFA) before moving forward with the plan. In a statement Thursday, FHFA stated it may ""initiate legal challenges"" to local or state actions that authorize the use of eminent domain to restructure mortgage contracts impacting Fannie Mae and Freddie Mac. Another action the GSEs' regulator might take is limit or stop business activity in jurisdictions that authorize the use of eminent domain to restructure mortgages.

Read More »

Fixed Rates See Little Activity

It was a mixed week for mortgage rate reports following the release of July's employment numbers, which showed job growth coming in below the market consensus forecast. According to Freddie Mac's Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 4.40 percent (0.7 point) for the week ending August 8, up from 4.39 percent last week. The 15-year FRM averaged 3.43 percent (0.7 point), unchanged from the previous survey.

Read More »

MBA: Delinquencies, Foreclosures Recede to More ‘Normal’ Levels

The percentage of homeowners behind on their mortgage fell to the lowest level since 2008, with a decrease in 90-plus delinquencies driving the improvement, according to a report from the Mortgage Bankers Association (MBA). On a seasonally adjusted basis, the national mortgage delinquency rate on one-to-four unit residences stood at 6.96 percent in the second quarter, a decrease from 7.25 percent in the first quarter and 7.58 percent a year ago. ""For most of the country, delinquencies and foreclosures have returned to more normal historical levels,"" said Jay Brinkmann, MBA's chief economist and SVP of research and economics.

Read More »

Report: Asking Prices Slip for First Time Since November 2012

For the first time since November 2012, asking home prices decreased month-over-month, slipping 0.3 percent from June to July, Trulia reported. ""If you were worried about a housing bubble, July's asking-price slowdown will probably be the best news you've heard this year,"" said Jed Kolko, Trulia's chief economist. Factors such as rising mortgage rates, growing inventory, and declining investor demand were attributed to the dip in asking prices.

Read More »

First-Time Jobless Claims Up, Still Below Expectations

First-time claims for unemployment insurance increased 5,000 to 333,000 for the week ending August 3, the Labor Department reported Thursday. Economists expected the number of claims to drop to climb to 336,000 from the 326,000 originally reported for the week ending July 27. The number of filings for that week was revised to 328,000, the lowest level since early May.

Read More »

Showalter, CAO of Digital Risk on New Origination Risk – Aug 08,2013

[ca_audio url_mp3='http://blogtalk.vo.llnwd.net/o23/show/5/248/show_5248007.mp3' css_class='codeart-google-mp3-player' autoplay='false' download='false' html5='false']Thomas Showalter, Chief Analytics Officer of Digital Risk, joins Mortgage Markets Today to discuss interest rates and identifying risk attributes to predict loan performance. Thomas and his development team leverage the extensive Digital Risk database ...

Read More »

SEC, Justice Department Sue BofA Over $855M RMBS Offering

The Securities and Exchange Commission (SEC) and Justice Department filed separate complaints against Bank of America and certain subsidiaries for allegedly misrepresenting an $855 million offering of residential mortgage-backed securities (RMBS), according to statements Tuesday.

Read More »