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Looking at the current housing market, billionaire money manager John Paulson said in an interview that he still believes that buying a home to live in is the best investment possible. Watch the video to see for yourself.
Last week saw the advance number for seasonally adjusted insured unemployment fall to 2,507,000. It hasn't been that low since June 30, 2007.
Mortgage rates stayed relatively quiet amid light economic reports; however, don’t expect it to stay like this forever.
"Blackstone’s second quarter results marked one of our best ever in terms of both economic net income and distributable earnings. As more of our assets under management have seasoned, we’ve been increasingly active in harvesting the value we’ve created over several years,” Stephen Schwarzman, chairman and CEO, said.
Bloomberg reported in November that the firm would look to reenter the mortgage space, but that is not materializing yet, according to the earnings report.
Home sales across all price points are beginning to suffer, with stale demand moving from lower-priced homes to middle- and higher-priced homes as well.
Residential construction starts and permits tumbled in June, with construction permits down 4.2% and new construction starts tumbling a whopping 9.3%, according to the U.S. Census Bureau and the Department of Housing and Urban Development.
The increase of nonbank and smaller lenders has its positives and negatives, according to the FHFA-OIG. Nonbanks reduce the concentration of the financial exposure to the GSEs' largest counterparties, but there are credit, operational and reputational risks.
“Retsly’s platform will spur tremendous innovation in the real estate space, enabling developers to build software that works across MLS boundaries and without the overhead of dealing with local data formats,” said Spencer Rascoff, Zillow CEO.
Federal Reserve Chair Janet Yellen went through round two in speaking about the Fed’s Monetary Policy Report, this time sitting before the House Financial Services Committee.
Since the last Beige Book, the Boston, New York and St. Louis districts reported home sales were below year-ago levels, while Chicago noted a decrease in home sales since the last survey period. Home sales in other districts remained steady or increased.
The people at the CFPB have decided this whole social media fad is here to stay and they better hitch their wagon to it. After all, if the CFPB doesn’t provide a place on the Internet for consumers to yelp about their complaints, no one will, right?
The Consumer Financial Protection Bureau is proposing a new policy that would empower consumers to publicly voice their complaints about consumer financial products and services.
In its Housing Finance Policy Center Commentary, the Urban Institute’s Laurie Goodman, Ellen Seidman and Jun Zhu write that the FHA should adopt a practice that the Veterans Administration uses when considering a borrower for a loan — the residual income test.
A simple way to create greater access and transparency would be to require banks to publicly disclose data about which communities and homeowners are helped under a settlement. This transparency is important because while some of the most predatory mortgages were targeted to poorer neighborhoods and communities of color, the homeowners in these communities are now receiving less help to avoid foreclosure.
Although home prices are still trending higher in California, the pace of increases is finally starting to slow and exit double-digit gains.
Bank of America’s mortgage-related litigation costs are something the banking giant wants to put behind it, but good luck with that, because it’s only going to get worse before it gets better.
Homebuilder confidence reached a six-month high, officially showing good sales conditions as strong jobs numbers helped buoy confidence.
MGIC Investment Corporation on Wednesday morning reported revenue of $231.20 million for the quarter, compared to the consensus estimate of $237.13 million. During the same quarter in the prior year, the company posted $0.03 earnings per share.
Mortgage banking activity declines and mortgage-related litigation expenses drag on BAC but the banking giant beats expectations in the second quarter despite big losses.