“This is about extracting a payment settlement and getting us to suggest that our company did something wrong,” Emerson told HousingWire. “We’re simply not going to do that. We did not commit fraud against the government and we’re not going to cave to the DOJ’s demands and falsely claim that.” -- Ben Lane in HousingWire http://www.housingwire.com/articles/34073-quicken-loans-ceo-the-fha-has-been-hijacked-by-the-department-of-justice
( Some senator has just put in a bill to make the CFPB accountable to Congress. Can't remember who, though it might be David Perdue from GA.)
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Mortgage applications decreased 7.6% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending May 29, 2015. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34075-mortgage-applications-fall-again-in-last-week-of-may
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Shared and taken by Xalima Miriel, Dubrovnik Crotia.
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The ruling, which will benefit commercial lenders, says that bankruptcy courts may not “strip off” junior liens on property if the value of the property used as collateral is less than the amount the debtor owes to the senior lienholder — in other words, the junior mortgage lien is “completely underwater.” -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34051-supreme-court-rejects-2nd-lien-stripping-in-chapter-7-bankruptcies
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Personal income in April 2015 increased 0.4 percent. Nominal and real personal consumption expenditures (PCE) were virtually unchanged. Nominal disposable personal income (DPI) increased 0.4 percent. Real DPI increased 0.3 percent. The personal saving rate as a percentage of DPI was 5.6 percent in April. -- US Department of Commerce
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Shared by Archilovers, taken by TG-Studio, St Pancras Penthouse Apartment, London.
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The U.S. Census Bureau of the Department of Commerce announced today that construction spending during April 2015 was estimated at a seasonally adjusted annual rate of $1,006.1 billion, 2.2% (±1.5%) above the revised March estimate of $984.0 billion. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34048-construction-spending-up-22-in-april
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Distressed sales—real estate-owned and short sales—accounted for 12.1% of total home sales nationally in March 2015, a 3.2 percentage point drop from March 2014 and a 1.9 percentage point decrease from February 2015, according to the March report from CoreLogic. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34120-corelogic-distressed-sales-accounted-for-12-of-home-sales-in-march-2015
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Shared by James Harrison and Lilia Serejo, someplace in Turkey
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Why millenials won't buy homes:
In her opening remarks, Swanson discussed initiatives among mortgage lenders to move more operations online. Based on discussions she has with these institutions, her advice is to actively engage millennials via social media. "Meet us online," she said, adding "whether you like it or not, we'll tell you what we think."
And during his presentation, Mark Palim, vice president for applied economic and housing research at Fannie Mae, gave the big reasons why millennials don’t want to buy homes. The primary reason? Perception that they won't qualify and can't meet the down payment. -- Jacob Gaffney in HousingWire http://www.housingwire.com/articles/34097-heres-why-millennials-arent-buying-homes
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This is another in a continuing series of stories exploring this downturn and the challenges and opportunities this presents for West Texas.
Fourth-grade teacher Michael McMillan hit a breaking point about three months ago in the form of another notice of a rent increase at his Cimarron Place apartment.
He still paid less than the citywide average, with monthly rent he said was about $900. But that was still almost twice as much as the lifelong Odessan paid when he moved in four years ago.
"My apartment rent keeps going up no matter what the oil does," McMillan said. "I'd rather spend my money on something I can actually own." -- Corey Paul in Tribune News Service
----------------------------------------------------Shared by Juwai, Chinese pavilion at World Fair at Milan World Expo.
http://buff.ly/1AVjRAG
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• Appraiser opinions of values remained higher than homeowner estimates in 18 of the 27 metro areas measured.
• In much of the country, home values remained idle. Values rose enough in the Western Region to push the total national average higher than in January.
Read more at http://www.quickenloans.com/press-room/2015/03/10/appraiser-home-value-opinions-fall-below-homeowner-estimates-for-first-time-in-18-months/#lMihqu5wDhbEkvrt.99
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