HousingWire, Apr. 1, 2016–Lane, Ben
One of the most contentious fights in the history of real estate listings is going nuclear, thanks to a “staggering” claim of damages from Move in its trade secret theft lawsuit against Zillow.
Category: Top National News
GE Files to End Fed Oversight After Shrinking GE Capital
Wall Street Journal, Mar. 31, 2016–Mann, Ted
General Electric Co. formally asked to be released from supervision by the Federal Reserve on Thursday, saying it has sufficiently shrunk its once-massive financial services arm so it would no longer pose a systemic threat to the financial system.
Mortgage Rates Flat this Week But May Be Heading Lower
Washington Post, Mar. 31, 2016–Orton, Kathy
Mortgage rates were essentially flat this week, according to the latest data released Thursday by Freddie Mac.
AMI to CFPB: Don’t Ignore Investor Concerns, TRID Does Cause Issues
HousingWire, Mar. 31, 2016–Swanson, Brena
The initial shockwave from TRID is over, replacing beginning fears and worries with solid evidence of what the new rule is doing to the mortgage industry.
Debt Markets: Choppy Trading Has No End in Sight
Wall Street Journal, Mar. 31, 2016–Zeng, Min
Bond investors are bracing for a turbulent second quarter as they struggle to reconcile surging U.S. employment with some of the lowest bond yields in years.
Freddie Mac Predicts Robust Year in Housing
National Mortgage Professional, Mar. 31, 2016–Hall, Phil
Total home sales, housing starts, and house prices will reach their highest levels in a decade, according to Freddie Mac’s newly released Outlook.
Ginnie Mae to Test Pools of Loan Mods
National Mortgage News, Mar. 31, 2016–Sinnock, Bonnie
Ginnie Mae, the government agency that guarantees securitizations of Federal Housing Administration-insured loans is experimenting with a pool type that consists only of modifications and reperforming loans.
C2C Title Services Acquired by ARMA Acquisition
HousingWire, Mar. 31, 2016–Lane, Ben
ARMA Acquisition, an international investment group managing a portfolio of complementary service providers to the financial services, real estate and legal services industries, announced the acquisition of C2C Title Services, a nationwide provider of title information products and related services to the mortgage, legal, financial and underwriter communities.
How to Sell a $60 Million Penthouse: Don’t Try
Bloomberg, Mar. 31, 2016–Carmiel, Oshrat
There’s nothing to stop developer Kevin Maloney from starting sales at 111 W. 57th St., the latest sky-high condo tower rising on midtown Manhattan’s Billionaires’ Row. He has the necessary legal approvals, and an office ready to welcome would-be buyers. But with luxury-home demand slowing and new condos piling up on the market, he’s waiting about a year before trying to sell units at the project, where the price for a penthouse will approach $60 million.
U.S. Jobs Market Firming, Manufacturing Regains Footing
Reuters, Mar. 31, 2016–Mutikani, Lucia
The number of Americans filing for unemployment benefits unexpectedly rose last week, but a sharp drop in layoffs in March suggested the labor market momentum remained intact.