HousingWire, Feb. 19, 2016–Lane, Ben
Ocwen Financial is about to add a big name to its board of directors, as the nonbank announced Friday that Carol Galante, the former commissioner of the Federal Housing Administration, is set to join the company’s board.
National Mortgage News, Feb. 19, 2016–Collins Brian
Fannie Mae’s low down payment product has fallen far short of expectations, the company acknowledged Friday. Federal Housing Finance Agency Director Mel Watt announced the initiative at the 2014 Mortgage Bankers Association conference, saying it would “increase access for creditworthy but lower-wealth borrowers.”
HousingWire, Feb. 19, 2016–Thompson, Kelsey
A mortgage company announced that it will be a sponsor on a TV show airing on Lifetime in February and March. Carrington Mortgage Services will be sponsoring Designing Spaces, Military Makeover.
National Mortgage News, Feb. 19, 2016–Sinnock, Bonnie
The Consumer Financial Protection Bureau acknowledges that gearing up for the Truth in Lending Act/Real Estate Settlement Procedures Act integrated disclosures has been tough, and it promises to consider that fact in exams.
HousingWire, Feb. 18, 2016–Swanson, Brena
Freddie Mac recorded fourth quarter net income of $2.2 billion, a jump after net loss of $475 million for the third quarter of 2015, which marked the first loss in four years. The government-sponsored enterprise also posted a comprehensive income of $1.6 billion, up $2.1 billion from a comprehensive loss of $501 million for the third quarter of 2015.
Realtor.com, Feb. 18, 2016–Trapasso, Clare
Mortgage applications are up, up, up, as homeowners try to save some of their hard-earned cash through refinancing their loans. The number of mortgage loan applications surged 8.2% last week over the first week of the month, as interest rates fell on 30-year fixed-rate mortgages to lows between 3.74% and 3.83%, according to the Mortgage Bankers Association.
Washington Post, Feb. 18, 2016–Orton, Kathy
Two months ago, when the Federal Reserve announced it was raising its benchmark rate, most observers expected mortgage rates to start creeping higher. Instead, for the past six weeks, the average for the 30-year fixed-rate, the most popular home loan product, has fallen 36 basis points.
National Mortgage News, Feb. 18, 2016–Sinnock, Bonnie
The mismatch between demand for new homes and the supply threatens to drive up prices and dampen lending.
Bloomberg, Feb. 18, 2016–Darie, Tatiana
Americans’ expectations for the economy declined in February to a three-month low as optimism propelled by job growth and cheaper gasoline at the start of the year faded.
Reuters, Feb. 18, 2016–Mutikani, Lucia
Americans filing for unemployment benefits unexpectedly fell last week, pointing to labor market strength that could keep Federal Reserve interest rate hikes on the table this year. Other data on Thursday suggested the struggling manufacturing sector could be stabilizing, with factory activity in the mid-Atlantic region contracting at a slower pace in February.
