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By jgaffney@housingwire.com One thing that gets little coverage is how effective Layton managed his team which runs the $2 trillion in Freddie Mac assets.

So, it seemed appropriate to find out his formula for retaining top staff and keeping the foot soldiers motivated.

Layton puts it down to 4 ways they helped turn around this “supertanker.” …read more

From:: Real Estate Wire

The future of the Consumer Financial Protection Bureau is as clear as mud, as there at least four different situations at play right now trying to completely change its structure. Meanwhile, the industry is left to conduct business in the middle of all this despite the uncertain future of the biggest mortgage finance watchdog. …read more

From:: Real Estate Wire

The Consumer Financial Protection Bureau is looking into the relationship between Altisource Portfolio Solutions and Ocwen Financial, Altisource revealed on Thursday. According to Altisource, the CFPB is “considering a potential enforcement action against Altisource relating to an alleged violation of federal law that primarily concerns certain technology services provided to Ocwen.” …read more

From:: Real Estate Wire

One of Ben Carson’s top aides is reportedly out of a job at the Department of Housing and Urban Development for being critical of President Donald Trump during the campaign. Here are the details, courtesy of the New York Times. …read more

From:: Real Estate Wire

Last year, the state of New York announced a series of sweeping regulations that require banks, insurance companies, and other financial services companies to significantly increase their cybersecurity programs. The rules are set to take effect on March 1, 2017, and now, with less than two weeks until the rules take effect, New York is releasing the final version of the regulations. …read more

From:: Real Estate Wire

By Susanne Dwyer

Home-building overall stalled in January, but more permits indicate construction will pick up in the months ahead.

Single-family construction rose 1.9 percent in January to a rate of 823,000, up from 808,000 in December, according to the U.S. Census Bureau and the Department of Housing and Urban Development (HUD). Privately-owned construction fell 2.6 percent to a rate of 1,246,000, down from 1,279,000 in December—though 10.5 percent higher than the January 2016 rate of 1,128,000.

“Today’s reported decline in housing starts and completions weren’t statistically significant, but the big increase in permits was a good sign that we are on track for more much-needed new construction in the months to come,” says Joseph Kirchner, senior economist at realtor.com®. “Numbers for new residential construction in January indicate a shift from multifamily to single-family homes that is clearly evident in completions, but not so in permits and starts, which could suggest it is a mild correction, rather than a trend.

“For the housing market as a whole, this means we are seeing a continuing increase in permitting and starts, but not yet completions,” Kirchner says. “Eventually, the permits will turn to starts and completions—the question is whether this will occur prior to the spring market.”

Permits for privately-owned housing in January rose 4.6 percent from December to a rate of 1,285,000, an 8.2 percent increase from January 2016—movement that lays the groundwork for future construction. Permits for single-family housing, however, fell 2.7 percent to a rate of 808,000. The National Association of Home Builders (NAHB) anticipates a 10 percent increase in single-family construction in 2017, and a 12 percent increase in 2018.

Privately-owned housing completions, at the same time, fell 5.6 percent from December to a rate of 1,047,000, a 0.9 percent decrease from January 2016. Single-family completions rose 4.3 percent to a rate of 800,000.

Starts for buildings with five units or more came to 421,000 in January, while permits came to 446,000 and completions to 244,000.

Source: U.S. Census Bureau

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From:: Finance and Economy