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DS News Webcast: Friday 9/5/2014

Foreclosure, REO, News, Webcast

ADP Research Institute reported the addition of 204,000 nonfarm private sector jobs for the month of August on seasonally-adjusted basis in its August National Employment Report, released Thursday.

While this number is down from 212,000 private sector jobs added in July and 297,000 in June, the trend shown by the increase in private sector employment since the start of 2014 has been promising, said Carlos Rodriguez, president and chief executive officer of ADP.

August was the fifth consecutive month that saw gains in excess of 200,000 for private sector employment. Of the private sector jobs added in August, more than 78,000 of them were at small businesses, about 75,000 of the new jobs were at medium businesses, and more than 52,000 of the jobs were at large businesses. Goods-producing jobs accounted for approximately 41,000 of the positions added, an increase of 78 percent from July, while service-producing jobs made up about 164,000 of the new jobs, a month-over-month decline of 14 percent.

Online marketplace exchange DebtX has announced its intention to sell 15,000 nonperforming residential loans for the U.S. Department of Housing and Urban Development as part of the agency's Single-Family Loan Sale program. The unpaid principal balance of the loans amounts to about $2.3 billion and the loans will be sold in eight national pools ranging from $94.5 million to $804.5 million. The bid is scheduled for September 30. This will be the sixth multi-billion dollar sale that Boston-based DebtX has handled for HUD since September 2012.