• Ocwen2.26-0.16 -6.61%
  • Zillow36.87+0.26 +0.71%
  • Trulia47+0 +0%
  • NationStar16.49+0.06 +0.37%
  • CoreLogic42.10+0.56 +1.35%
  • RE/MAX59.55-0.10 -0.17%
  • Fannie Mae2.61+0.10 +3.98%
  • Freddie Mac2.50+0.11 +4.60%
  • Wells Fargo53.65+0.65 +1.23%
  • CitiMortgage59.44+1.72 +2.98%
  • Bank of America23.63+0.92 +4.05%
  • Fidelity National Financial40.04+0.34 +0.86%
  • First American39.88+0.36 +0.91%
  • Black Knight Financial Services39.85-0.05 -0.13%
  • AUDUSD=X0.7555-0.0010 -0.1388%
  • USDJPY=X110.1340+0.3840 +0.3499%
Home | News | Market Studies (page 2)

Ocwen MSR Block May Soon Be Lifted

According to the latest Consent Order from the New York Department of Financial Services, Ocwen may be one its way to once again acquiring mortgage servicing rights. The financial institution has been blocked from doing so for more than three years, since NYDFS began investigating its portfolio in February 2014. Ocwen is one of the country’s largest non-bank lenders.

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Mortgage Defaults Climb Slightly

mortgage default rates are up one basis point from February to .75 percent, a one-year high. Year-over-year, the mortgage default rate dropped from .77 percent, while the bank card default rate increased year over year. Of the five major cities covered by the S&P/Experian Consumer Credit Default Indices (New York, Chicago, Dallas, Los Angeles, and Miami), New York and Chicago posted month-over-month increases in the Index level, while Dallas, Los Angeles, and Miami posted month-over-month decreases in defaults.

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Housing Starts Fall While Permits Rise

Single-family starts fell six percent in March, to an annual rate of 821,000 from February’s rate of 875,000, which was the fastest monthly rate since the Great Recession. However, single-family permits posted the third largest annual pace since the recession. Permits in March grew 3.6 percent to 1.26 million from February’s 1.216 million, and grew year-over-year by 17 percent.

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Fed Banks Predict Slowing GDP Growth

Two federal banks are forecasting a slowdown in GDP growth this quarter, with the Atlanta Fed predicting it to hit its lowest point in three years. The drop is a result of reduced consumer spending, the Fed reported. Predicted GDP growth has decreased significantly since the start of the year.

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Report Shows Confidence Among Home Builders

The National Association of Home Builders (NAHB) and Wells Fargo reported a solid market for new single-family homes in the April NAHB/Wells Fargo Housing Market Index (HMI). NAHB reports that there is a continuing demand for home construction, although builders have faced several challenges such as high regulatory costs and increasing material prices.

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The Week Ahead: Freddie Mac’s Servicer Success Scorecard

The 2017 Servicer Success scorecard is a part of Freddie Mac’s Servicing Success Program, which offers analysis of servicer performance through defined metrics, benchmarks, requirements, financial incentives, and compensatory fees. The Scorecard offers metrics for both default management and investor reporting, and releases at the end of every month. New reports in the scorecard include a Rank Improvement Report and a 12-Month Rolling Scorecard Summary.

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2017’s Housing Market the Fastest Since 2010

It looks like 2017 may be the nation’s fasted-paced market in seven years if March is any indication. Homes sold in an average of just 49 days for the month, and in some markets, it took just eight days. March also saw home prices and sales increase, and a large portion of sales came in well above listing price.

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FHFA Reports Drops In Refinances

According to a report from the Federal Housing Finance Agency, total Refinance volume has dropped as mortgage rates have risen. In February 2017, borrowers completed 4,198 refinances through HARP, and since HARP’s inception in 2009, the program has made 3,456,422 refinances. HARP represented three percent of total refinance volume, and six percent of loans refinanced through HARP had a loan-to-value ratio greater than 125 percent.

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