HousingWire

Monday Morning Cup of Coffee: More good housing news on tap?

Mon, 27 Feb 2012 02:09:54 +0000

Flagstar settles FHA mortgage problems

Fri, 24 Feb 2012 23:01:43 +0000

Flagstar Bancorp agreed to pay up to $133 million to settle Justice Department allegations of underwriting violations on past Federal Housing Administration mortgages.

Wells Fargo to expand GSE-free mortgage lending

Fri, 24 Feb 2012 22:06:14 +0000

Wells Fargo finalized a new division built to originate mortgages outside of Fannie Mae and Freddie Mac guidelines.

Vacant homes in Michigan grew 47% in 10 years

Fri, 24 Feb 2012 21:14:48 +0000

Michigan is mired in a foreclosure crisis that began about a decade ago and resulted in a 47% increase in vacant properties.

Fed chiefs give the good, bad and ugly on housing and monetary policy

Fri, 24 Feb 2012 20:38:42 +0000

A new generation of Americans may eschew homeownership altogether after witnessing fallout from the housing bubble, said James Bullard, president and CEO of the Federal Reserve Bank of St. Louis.

Proposed bill would allow principal write-downs in bankruptcy courts

Fri, 24 Feb 2012 19:02:39 +0000

An Oregon congressman is backing a bill that, if passed, would allow bankruptcy judges to force principal modifications on primary home mortgages during bankruptcy.

Treasury to cap HAMP mods to property investors

Fri, 24 Feb 2012 16:56:33 +0000

The Treasury Department will cap the amount of mortgage modifications property investors can receive under a revamped Home Affordable Modification Program, officials said this week, to no more than a handful.

Job growth drives consumer sentiment to year high

Fri, 24 Feb 2012 16:30:59 +0000

Consumer sentiment rebounded from a midmonth dip to finish February at the highest level in a year, buoyed by recent employment gains.

Fitch downgrades Bear Stearns CMBS

Fri, 24 Feb 2012 16:14:02 +0000

Distressed commercial loans in special servicing prompted Fitch Ratings to downgrade some Bear Stearns pass-through certificates, while affirming others and upgrading one class.

New home sales remain mostly flat in January

Fri, 24 Feb 2012 15:05:35 +0000

New single-family home sales sold at annual rate of 321,000 units in January, a slight 0.9% drop from December, a government report said Friday.

S&P: Radian's rating unaffected by repurchase of outstanding debt

Fri, 24 Feb 2012 14:21:33 +0000

Standard & Poor's 'B' rating on Radian remains unaffected by the mortgage insurer's announcement that it will issue a tender offer to repurchase outstanding debt that matures in 2013.

Bank of America stops selling mortgages to Fannie Mae

Thu, 23 Feb 2012 23:14:12 +0000

Bank of America is faced with numerous reps and warrants challenges on the mortgage front, and as a result of growing uncertainty, it will no longer sell certain mortgage refinances into Fannie Mae mortgage-backed securities.

BarCap sees early year positives in commercial real estate

Thu, 23 Feb 2012 22:25:28 +0000

Commercial real estate transactions for 2012 are off to a good start despite a decrease in January’s average cap rate, or the rate at which a commercial property generates income, equity researchers at Barclays Capital said.

Ellie Mae 4Q earnings down slightly

Thu, 23 Feb 2012 21:56:53 +0000

Mortgage software provider Ellie Mae earned $1.8 million, or 8 cents a share, for the fourth quarter down from $1.9 million, or 11 cents a share, a year earlier.

AIG sees higher profits in 4Q, fiscal 2011

Thu, 23 Feb 2012 21:39:30 +0000

Insurer American International Group posted higher profits for the fourth quarter and 2011 fiscal year on deferred tax benefits.

Moody's: Big banks unlikely to suffer from AG mortgage settlement

Thu, 23 Feb 2012 21:16:07 +0000

The $25 billion mortgage servicing settlement is expected to result in little financial impact on the nation's big banks, Moody's Investors Service said.

Nightmare continues for Florida foreclosure system

Thu, 23 Feb 2012 20:52:05 +0000

Florida courts continue to struggle with a backlog of more than 368,000 pending cases, according to one foreclosure attorney. It's a nightmare, and one with no end in sight.

Two FHLBs see profit in fourth quarter

Thu, 23 Feb 2012 19:51:21 +0000

The Federal Home Loan Bank of San Francisco earned $111 million in the fourth quarter, down from $140 million in the same period a year earlier. Income for fiscal 2011 hit $216 million, down from $399 million in 2010.

New Fannie Mae multifamily head: Stars aligned for renting

Thu, 23 Feb 2012 18:28:10 +0000

The multifamily division at the government-sponsored enterprise Fannie Mae is operating with a new head. The new guy in charge, Jeff Hayward, also said he will do little to change current operations, and adds it’s a great time to be in the rental business.

HLSS IPO expected late February, Van Vlack to head up firm

Thu, 23 Feb 2012 18:18:27 +0000

Ocwen Financial Corp. spinoff company, Home Loan Servicing Solutions, is expected to launch its IPO by late February.

MBA: Rising rental costs may drive home sales up

Thu, 23 Feb 2012 18:13:39 +0000

Home sales could turn out sunnier than expected this spring based on data coming out of the rental market, according to economists at the Mortgage Bankers Association.