Foreclosures | Mortgages | Financing
By jgaffney@housingwire.com Let’s face it, the current administration fell woefully short in government-sponsored enterprise reform and, especially, in setting forth reachable goals in addressing the affordable housing crisis in this nation. So what’s so different about today? So many things. …read more
From:: Real Estate Wire
In what officials are calling a “first of its kind” program, the city of New York announced Thursday that it is plans to buy a number of delinquent loans from the Federal Housing Administration as part of an effort to keep struggling homeowners from losing their homes to foreclosure. Here are all the details. …read more
From:: Real Estate Wire
Oil futures moved narrowly lower after Baker Hughes data showed that the weekly number of active U.S. rigs drilling for crude rose 11 to 341 as of Friday. The count fell last week, but rose in each of the three weeks before that. The total U.S. rig count climbed by 10 to 431. August crude was at $48.31 a barrel on the New York Mercantile Exchange, down 2 cents from Thursday’s settlement. It was trading higher at $48.41 before the data.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
An ex-real estate agent sold a home that wasn’t his to sell to a couple and their five children, stealing over $5,000 from them. The family didn’t find out until they were locked out of their own home. Who would do such a thing? Allegedly, Matthew Boros did. …read more
From:: Real Estate Wire
In the first week following the historic Brexit vote, new mortgage refinance activity soared to the highest level in more than four months as rates plunged.
A 19 percent rise from one week prior left the U.S. Mortgage Market Index from OpenClose and Mortgage Daily for the week ended July 1 at 187.
The index, which is determined based on average per-user rate locks by clients of OpenClose, soared 26 percent compared to the same week last year.
From:: Financing
After four months from when it was first announced, Freedom Mortgage announced it finalized the acquisition of Chase’ USDA origination business. We can now welcome Freedom Rural Housing into the space. …read more
From:: Real Estate Wire
A deal in the works since May now comes to a close. Caliber completed its acquisition of First Priority Financial and extended its footprint into the Western part of the U.S. …read more
From:: Real Estate Wire
Despite a high number of TRID violations, a report from Moody’s Investors Service claims these will only lightly impact residential mortgage-backed securities. They lay out two reasons why. …read more
From:: Real Estate Wire
The challenging problem of social inequality comes with more questions than answers: How do we ensure that everyone, regardless of status, has equal opportunities? Where do we begin Unfortunately, there’s no easy answer, but here is a good starting point: at home. …read more
From:: Real Estate Wire
Netflix Inc.’s stock surged 5.1% in morning trade Friday, putting it on track for a fourth-straight gain, after Canaccord Genuity said it was bullish on the streaming service’s longer-term prospects. Analyst Michael Graham started coverage of Netflix with a buy rating and a stock price target of $120, which is 25% above current levels. He said recent concerns over sluggish international subscriber growth are temporary, as they could last through the third quarter before strong growth returns in the fourth quarter and through 2018. “With vast potential in the other 179 markets and the potential to move from a top-of-market skim product to more of a mass-market product internationally, we see a long runway for growth,” Graham wrote in a note to clients. “In the U.S., competitive offerings will proliferate, but in a new un-bundled OTT world…, Netflix should move from being a substitute good to a complimentary good relative to cable, and this should foster continued growth domestically.” The stock, which has run up 13% since closing at a 4 1/2-month low on Monday, was still down 16% year to date, while the S&P 500 has gained 3.1%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News