Foreclosures | Mortgages | Financing
Quarterly residential loan originations picked up at PHH Mortgage. While the company cut its losses, delinquency rose and the servicing portfolio declined.
Before income taxes, the Mount Laurel, New Jersey-based organization had a $20 million loss for the period that started on April 1 and ended on June 30.
Those details, along with numerous other operational and financial results, were provided by parent PHH Corp. in its second-quarter 2016 earnings report.
From:: Financing
Home prices are rising nationwide, but not quite as much a homeowners think they are. Most homeowners are overestimating the value of their homes, with one notable exception. …read more
From:: Real Estate Wire
Gold prices closed up modestly on Tuesday as weakness in the U.S. dollar delivered a boost to the yellow metal. December gold rose $5.40, or 0.4%, to settle at $1,346.70 an ounce. Gains for the precious metal came as the buck retreated 0.2% against its main rivals, as measured by the ICE U.S. Dollar Index . The advance for gold ends two sessions of losses for the metal, after a healthy reading of nonfarm-payrolls on Friday resulted in a surge in stocks, viewed as risky, and a $23 drop in gold futures, amid heightened expectations of a rate hike by the Federal Reserve. Higher rates can boost the value of the greenback, making dollar-priced assets more expensive to buyers using other currencies.
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From:: Stock Market News
It’s probably safe to say that Walter Investment Management Group is in a state of upheaval right now. The company announced Tuesday that it posted its second massive quarterly loss of the year during the second quarter, and now the company is about to have its fourth different CEO since October 2015. …read more
From:: Real Estate Wire
Millennials bring their own style to the economy, and in terms of housing, they haven’t been all that interested to-date. Fannie Mae’s report for June from its Millennial Tracker shows ongoing trends of Millennials entering the market. …read more
From:: Real Estate Wire
Millennials bring their own style to the economy, and in terms of housing, they haven’t been all that interested to-date. Fannie Mae’s report for June from its Millennial Tracker shows ongoing trends of Millennials entering the market. …read more
From:: Real Estate Wire
Appraisal volume for the week of July 31 reversed course after the prior week’s decline. The news, while positive, is still a continuation of the slow upward trend witnessed most of this summer. …read more
From:: Real Estate Wire
A surge in third-party fees was behind an increase in average closing costs on residential loans. The Aloha State had the most expensive loans.
Closing costs on a hypothetical $200,000 loan to finance a U.S. home purchase with a 20 percent down payment averaged $2,128 this year.
The average, which is based on a loan to a borrower with excellent credit, jumped from the previous year, when the average came to $1,847.
From:: Financing
Aspire Financial announced it selected Alight’s Mortgage Lending platform, which will in turn help the company forecast where its business is headed. This latest business venture significantly changes the way the company will handle its expenses, acquire branches and more. …read more
From:: Real Estate Wire
By Cindy Barth
Florida had the highest number of completed foreclosures in June, according to a new CoreLogic report.
The five states with the highest number of completed foreclosures in the 12 months ending in June were Florida (60,000), Michigan (47,000), Texas (27,000), Ohio (23,000) and California (22,000). The five states accounted for almost 40 percent of all completed foreclosures nationally.
The foreclosure inventory represents the number of homes at some stage of the foreclosure process, and completed… …read more
From:: biz journal foreclosures