Seaport industrial real estate is booming: JLL Report

While many industry analysts contend that distribution centers near U.S. East Coast ports will see a surge of new business after the Panama Canal expansion, real estate experts say this phenomena is already underway.

Appraisal Institute selects Jim Murrett as new vice president

The Appraisal Institute announced the election of Jim Murrett to serve as the organization’s vice president in 2016. Murrett’s one-year term at the Appraisal Institute will begin Jan. 1, followed by one year each as president-elect, president and immediate past president.

Senate signs off on DRIVE Act but long-term obstacles linger

Earlier today, the United States Senate signed off on a six-year surface transportation authorization, according to various media reports. The bill, entitled the Developing a Reliable and Innovative Vision for the Economy (DRIVE) Act, passed by a 65-34 margin and comes at a time, when the most recent extension for surface transportation funding expires tomorrow, July 31.

Guardian Mortgage CEO Marcia Phillips retires

Guardian Mortgage Company announced that Marcia Phillips, who has served as the company’s president and chief executive officer of since 1988, is retiring from those positions and will become vice chairman of the company’s board of directors.

RealtyTrac: Share of seriously underwater foreclosures hits new low

There were 7,443,580 U.S. residential properties that were seriously underwater at the end of the second quarter, representing 13.3% of all properties with a mortgage. But the number of homeowners who are equity rich dropped 300,000. What does it mean? Read on.

Here are the 10 healthiest housing markets

As the economy continues to recover, a handful of housing markets are standing out due to a handful of key metrics. Here's what cities made it to the top of the list.

Realtor attacked at showing by a man in a woman’s dress

In what is all too common an occurrence, a Realtor showing a home was attacked near Atlanta. What makes this one unusual is the attacker was a man in a dress and a wig.

Question remains: When will interest rates start rising?

The July Federal Open Market Committee meeting announcement once again reaffirmed its view that the current 0 to 1/4 percent target range for the federal funds rate remains appropriate. So when will they finally raise rates?

Bill to eliminate $6M raise for Fannie, Freddie CEOs passes House Committee 57-1

The bill to end the proposed $3 million pay hikes for the CEOs of Fannie Mae and Freddie Mac passed the House Financial Services Committee Wednesday, gaining a level of bipartisan support that suggests it has a solid chance in the Senate and perhaps in the White House.

This is why you can't blame Millennials for low homeownership rates

Here are some fast stats about Millennial homebuyers that show that they are not only buying homes, but also what trends they're following as they do. And, yes, they still need real estate agents to help them out.

Capital Economics: Looser credit conditions will support mortgage recovery

Capital Economics says that their reading of the market suggests that credit conditions are loosening, albeit very gradually, and that a loosening of credit conditions will help the sluggish recovery.

Congressman known as mortgage relief pioneer indicted on federal corruption charges

A U.S. Congressman who was once at the forefront of the government’s post-crisis mortgage relief efforts is now facing federal corruption charges for allegedly misappropriating hundreds of thousands of dollars of federal, charitable and campaign funds.

Housing Policy Council: G-fee is a tax on homebuyers, refinancers

A growing number of voices in the housing industry want Congress to drop the plan to redirect Fannie Mae and Freddie Mac g-fees to pay for highway repairs.

Demand growing for rent-to-own homes

Rent-to-own programs are once again increasing in popularity after losing steam back in the 1990s. One perk of the program that’s appealing to consumers is that they aren’t forced to purchase the home.

Stifel: FOMC will not raise interest rates in September

Despite majority opinion, Lindsey Piegza, chief economist with Stifel, said she expects the July FOMC statement to be relatively unexciting. So when does she think rates will rise? Hint: It’s not this year.

Pending home sales drop for the first time in 2015

After five consecutive months of increases, pending home sales slipped in June, according to the National Association of Realtors. It's the biggest drop since December 2013. Worried yet?

Mortgage applications tick up slightly

Mortgage applications increased 0.8% from one week earlier, with refinancings giving a boost to the flatline that was purchase applications. Where's the sizzle?

Bill to kill $3M raises for Fannie, Freddie CEOs gains momentum

A bill that would eliminate the proposed $3 million pay raises for the CEOs of Fannie Mae and Freddie Mac is now one step closer to becoming law, as the bill advanced past the markup stage and is now set for a full vote of the House Financial Services Committee with bipartisan support in tow.

Dimont announces sweeping senior management changes

Dimont, which divested itself last year from the now-bankrupt Wingspan Portfolio Advisors, announced a series of significant changes to its senior management. Dimont provides insurance-related services and hazard claims insurance processing services to the residential and commercial mortgage industries.

Quicken Loans adding 1,100 more employees in downtown Detroit

As part of its ongoing efforts to aid in the revitalization of downtown Detroit, Quicken Loans is set to add 1,100 new employees and expand into the former Detroit News building.

Dodd-Frank dragging down economic recovery, House Committee says

The majority at the House Financial Services Committee says that Dodd-Frank undermines the economy, hurts homeownership, and contributes to the slowest recovery in recent history.

First look: Architect Magazine showcases Fannnie Mae’s new corporate digs

Architect Magazine has the renderings of the proposed new Fannie Mae headquarters, and while it looks pretty, it also looks pretty right for the GSE budget-wise, which is facing Congressional criticism over the issue of CEO compensation.

Donald Trump sells Manhattan home for $21 million

Donald Trump took a step away from the presidential election and dabbled in another world that he excels in: real estate.

CFPB orders Paymap to repay $33.4 million for deceiving customers

The Consumer Financial Protection Bureau announced Tuesday that it is ordering Paymap, a Colorado-based payment processing company, to return $33.4 million to consumers for falsely promising mortgage savings to borrowers who used their biweekly mortgage payment program.

Fannie Mae: Mortgage lenders unnecessarily restrict credit

Despite pushes from the Federal Housing Finance Agency and the Federal Housing Administration, lenders are still applying additional credit overlays to loans delivered to Fannie Mae and Freddie Mac, a new survey of lenders showed. Here are all the details.

Homeownership rate drops to 48-year low

The homeownership rate in the United States in the second quarter declined to 63.4%, the lowest it has been since 1967. Should we be worried?

Key housing, mortgage finance bills facing markup in House

A number of bills critical to the housing and mortgage finance industry are under the spotlight today in the House, including limits on regulators, a TRID grace period and a cap on the salaries for the CEOs at Fannie and Freddie.

Case-Shiller: Home prices continue rising in May but stall on monthly basis

Home prices continued their rise across the country over the last 12 months, according to the S&P/Case-Shiller Home Price Indices for May 2015. But first-time buyers still aren’t going all in, and May's monthly drop was the biggest since July 2014. What’s the problem?

Weiss Residential: Here's where the next housing crash will start

Weiss says its data shows where the next housing crash will start and what kind of homes — right down to the age, size and price, will be affected. Are we already in trouble?

This is why loan fraud is running rampant

Loan fraud is rampant and is on the rise. According to the LexisNexis 2014 Mortgage Fraud report, 74% of loans reported in 2013 involved some kind of fraud or misrepresentation versus 69% in 2012. Here are several tips to help combat the issue.

The two biggest challenges plaguing the appraisal industry

There are two major challenges that the appraisal industry is dealing with. In an interview with HousingWire, Scott Pickell, vice president and chief appraiser at LRES, discussed recent hurdles appraisers are facing, focusing on compliance and new appraisers.

Mortgage trades join to urge formal TRID hold-harmless period

More than 20 real estate industry trade groups joined together Monday in support of HR 3192, the Homebuyer Assistance Act, which will provide a hold-harmless period for enforcement of TRID for those that make good-faith efforts to comply.

NY state senator convicted in foreclosure embezzlement scheme

New York State Senator John Sampson, D-Brooklyn, was convicted by a federal jury for one count of obstruction of justice and two counts of making false statements to federal agents related to his practice of embezzling foreclosure funds.

Castle & Cooke partners with Optimal Blue

Optimal Blue, a cloud-based provider of managed-content, pricing and product eligibility, secondary marketing, consumer engagement, data and analytics, and compliance services, announced a partnership to provide a pricing engine for Castle & Cooke’s new mortgage origination system.

Weiss Residential: Nearly half of homes in top markets losing value

Weiss says its data shows where the next housing crash will start and what kind of homes — right down to the age, size and price, will be affected. Are we already in trouble?

Black Knight: Home prices approach pre-crisis peak

Black Knight’s latest Home Price Index report, based on May 2015 residential real estate transactions, showed that the U.S. HPI is now just 6.5% off the June 2006 peak of $268,000, and up over 25% from the market’s bottom.

Auction.com: Existing-home sales continue surge in July

Guess what? The good times aren't over yet. Existing-home sales in July are expected to continue their upsurge, according to Auction.com’s July Real Estate Nowcast. And prices are expected to hit a new record...again.

New Hampshire Supreme Court acknowledges MERS’ role under state law

MERS strikes again. The Supreme Court of New Hampshire ruled in favor of New York Community Bank, finding that as assignee of MERS, it was authorized to foreclose.

NAFCU urges the FHFA to leave the conforming loan limit alone

The National Association of Federal Credit Unions is urging the Federal Housing Finance Agency to keep the conforming loan limit at its current level and not drop it below the current baseline rate of $417,000 because the market isn't strong enough yet. What do you think?

Scammer gets five years in prison for selling fraudulent ‘TARP-owned’ foreclosures

A California man will spend the next five-plus years in federal prison for presenting himself as a representative of the government and leading a scheme that sold what he fraudulently claimed were “TARP-owned” properties to individuals.

HomeUnion continues to expand

HomeUnion announced another expansion, adding five major metros into its list of active investment markets. As the rental market continues to grow, Don Ganguly, CEO of HomeUnion, said that he sees high profit for the single-family rental market.

Bank of America CFO’s exit reportedly linked to desire to lead company

Bank of America shocked the market a bit last week, when it announced the departure of Bruce Thompson, the bank’s chief financial officer and chief risk officer, without a great deal of explanation as to why Thompson was leaving. Now, a Reuters report sheds some light onto the supposed reason that Thompson is stepping down.

Monday Morning Cup of Coffee: Mortgage lenders "routing" homebuyers to FHA?

Lower credit scores are leading to higher mortgage costs, according to an article in the Seattle Times. There is a new opinion, separate from the many who view last month’s Supreme Court decision on “disparate impact” as a negative. Also, it’s time for the nonbanks to start weighing in on their earnings.

Small Texas bank winning big fight against CFPB

A small Texas bank was handed a large victory this week, when a federal court ruled that the bank is allowed to challenge the constitutionality and authority of the Consumer Financial Protection Bureau. Here are all the details.

Bank of America senior management shakeup continues

The senior management shakeup at Bank of America is continuing. According to multiple reports, Bank of America is interviewing “possible successors” for Gary Lynch, who serves as the bank’s global general counsel.

Mortgage lenders circle remains of Discover Home Loans

Before Discover Home Loans could shut its doors, lenders are already said to be vying to acquire its remains. The company will accept its final loan application at the end of July.

Massive pay hikes for Fannie, Freddie CEOs fall under Congressional scrutiny

A bill that would suspend the $3 million pay raises recently awarded to the CEOs of Fannie Mae and Freddie Mac is one step closer to becoming law, as the Equity in Government Compensation Act of 2015 is set for markup next week.

Village now charges real estate agents to display "for sale" signs

A village just north of Albuquerque, New Mexico shocked real estate agents this week when they hung black plastic bags over 35 “For Sale” in an effort to finally enforce a local ordinance.

NAMB to Congress: New TRID forms should disclose g-fee costs

The Association of Mortgage Professionals says the Consumer Financial Protection Bureau’s new Know Before You Owe mortgage disclosure rule, also called the TILA-RESPA Integrated Disclosures rule, doesn’t disclose enough and says homebuyers are entitled to know where all the money they pay to buy a home is going.

This MBA chart shows the real rise of home prices

In the latest chart from the Mortgage Bankers Association’s chart series, the MBA put into perspective just how much the Federal Housing Finance Agency’s U.S. Purchase-only House Price Index has risen.

New home sales fall 6.8% from May

Sales of new single-family houses in June 2015 retreated back down and were at a seasonally adjusted annual rate of 482,000, a 6.8% drop from May’s revised rate of 517,000.

Freddie Mac launching new risk-sharing deal structure: The cash securitization

Freddie Mac is bringing another mechanism for sharing its credit risk to market – one that hasn’t been seen much since the crisis – a cash securitization. Here are all the details.

CoreLogic 2Q revenue hits $386M, misses expectations

CoreLogic’s second-quarter revenue jumped 5.5% from prior-year levels thanks to higher U.S. mortgage origination volumes, market share gains in core underwriting solutions and demand for property data and analytics.

Veros connects Sapphire to FHA electronic appraisal portal

Veros Real Estate Solutions' web-based, residential collateral valuation management platform, Sapphire, now offers a direct connection to the Federal Housing Administration Electronic Appraisal Delivery portal.

Stewart exiting delinquent loan servicing business

Citing shrinking revenue caused by a shrinking amount of delinquent loans, Stewart Information Services Corporation announced Thursday that it intends to end its delinquent loan servicing business by the end of 2015.

Bank of America shakes up senior management

Despite seeing a $3 billion jump in its net income in the second quarter, Bank of America is shaking up its senior management, replacing Bruce Thompson, the bank’s chief financial officer and chief risk officer, and making other moves.

Fannie Mae: First half of 2015 paves way for stronger year

The first half of this year performed a lot better than what was originally expected, giving extra momentum to the start of the second half of the year. Therefore, the Fannie Mae housing forecast remains largely unchanged, with leading indicators pointing to continued improvement.

The HousingWire Vanguard Award: For elite leaders of housing finance

The Vanguard Awards is an open recognition program designed to highlight our own “leaders of the year” at HousingWire, and will be featured in our double December/January special issue. So if you rock at work, tell us about it.

Black Knight: Foreclosure inventory drops to lowest level since 2007

The national foreclosure inventory continued to drop and dipped to the lowest level since 2007. Meanwhile, the delinquency rate dropped 3% from May.

Altisource announces acquisition of CastleLine

Altisource Portfolio Solutions, a marketplace and transaction solutions provider for the real estate, mortgage and consumer-debt industries, announced Thursday that it is acquiring CastleLine Holdings, a specialty risk management and insurance services firm.

Freddie Mac: Mortgage rates retreat from yearly high

After moving to the highest level of 2015 one week ago, mortgage rates retreated slightly, according to Freddie Mac’s latest Primary Mortgage Market Survey. According to Sean Becketti, Freddie Mac’s chief economist, the slight decline was driven by mixed economic and housing data.

RealtyTrac: Single-family home sales reach highest level since 2006

Adding another layer of confirmation onto the prevailing thought that 2015 is a healthy year for housing, single-family and condo sales reached the highest level since 2006, according to a new report from RealtyTrac. Here's how it all breaks down.

Crapo, Warner urge Congress not to use Fannie, Freddie fees for federal spending

Reaffirming their position that the fees charged by Fannie Mae and Freddie Mac to guarantee loans should not be used to fund federal spending, Sen. Mike Crapo, R-Idaho, and Sen. Mark Warner, D-Va., sent a letter to the Senate leadership, asking them to reconsider the use of g-fees to offset the cost of a massive transportation bill.

Redfin debuts new housing demand index, and it's got some bad news

Although homebuyer demand was up year over year in June, on a monthly basis, the decline was steeper than previous years. “This year’s seasonal slowdown is more extreme than normal due to buyer fatigue over high prices and low selection, combined with gradually increasing mortgage interest rates,” Redfin’s new housing report said.

MBA adjusts forecast for a drastically bigger purchase mortgage year

The Mortgage Bankers Association updated its mortgage finance and economics forecast, revising the volume of purchase originations significantly higher thanks to improvement in the economy.

Fannie Mae releases enhanced single-family loan performance database

Following through on plans initially announced last week, Fannie Mae announced Wednesday that is now providing an enhanced single-family loan performance dataset to help investors prepare for its first actual loss credit-risk sharing deal.

CFPB names new acting deputy director

The Consumer Financial Protection Bureau announced that Meredith Fuchs will serve as acting deputy director when Deputy Director Steve Antonakes steps down at the end of July.

Sen. Ted Cruz introduces bill to abolish CFPB

The Consumer Financial Protection Bureau, which celebrated its fourth birthday earlier this week, won’t see its fifth birthday if Sen. Ted Cruz has his way. Cruz, along with Rep. John Ratcliffe, introduced a bill in Congress this week that would abolish the CFPB.

Zillow acquires DotLoop

Zillow Group announced an agreement to acquire DotLoop, a Cincinnati-based company that boasts it can simplify real estate transactions by enabling brokerages, real estate agents, and their clients to share, edit, sign and store documents digitally. Click here to read more about Zillow's latest big move.

Judge orders massive release of Fannie, Freddie conservatorship docs

Will the public finally know if the Treasury took over Fannie and Freddie, despite the secondary mortgage market firms being adequately capitalized? Investors have long argued this is so, and that the controversial Third Amendment Sweep is illegal. Now, a federal judge is siding with them.

G-fee cuts significantly delayed by controversial Senate transportation bill

A controversial bill currently under consideration in the U.S. Senate would substantially delay cuts to the fees that Fannie Mae and Freddie Mac charge lenders to guarantee loans, and use those very fees to fund massive transportation projects.

Low down payment mortgages are not the return of the financial crisis

Fannie Mae and Freddie Mac both rolled out individual low down payment mortgage products to expand the credit box for first-time homeowners. But unlike industry talk, this doesn't mean lending is returning to the practices that led to the housing crisis because of these four changes.

FHFA: May home prices barely increase

House prices inched up 0.4% in May, on a seasonally adjusted basis from the previous month, according a new home sales report from the Federal Housing Finance Agency.

Homes are officially being sold at the highest prices, ever

Thanks to rising demand and shrinking supply, the median existing-home price for all housing types reached an all-time high in June. Click through to learn more about June's record existing-home sales.

Radian 2Q15 net income drops to $50M

Radian Group posted second-quarter net income of $50 million, a drop compared to last year’s second quarter net income of $174.8 million. However, once adjusted, its diluted net operating income per share for the quarter was $0.4, which beat analyst expectations by $0.05.

MBA: Mortgage applications barely move

It was a flat week for mortgage applications, with the Mortgage Bankers Association reporting that applications barely wavered and increased 0.1% for the week ending July 17.

Primary Residential Mortgage promotes Burton Embry to chief compliance officer

In this role, Embry will continue to oversee and manage the company's enterprise risk management group and represent PRMI’s interests with industry and trade groups as well as provide significant consultative direction in the company’s day-to-day and long-range business activities.

Federal Court of Appeals finds for MERS, again

Just days after the United States Sixth Circuit Court of Appeals handed a legal victory to MERSCORP Holdings, which saw its mortgage assignment authority challenged in Kentucky, MERS secured another win from the same court.

CIT Bank and OneWest to merge

The Office of the Comptroller of the Currency just announced a new merger between CIT Bank and OneWest Bank.

Mortgage Partnership Finance issues first Ginnie Mae bond

The Mortgage Partnership Finance, a group of Federal Home Loan Banks, announced that it issued its first mortgage bond guaranteed by Ginnie Mae. The $5 million security is backed by mortgages originated by community lenders.

Here's everything you need to know about the CFPB

While it may seem like the Consumer Financial Protection Bureau has been around forever, the CFPB actually opened its doors just four years ago today: July 21, 2011. Here's everything you need to know about the agency synonymous with financial regulation.

Senate debates extending 3 housing tax credits

The U.S. Senate Committee on Finance held an open executive session Tuesday morning to consider an original bill to extend certain expired tax provisions, which includes three critical extensions for the housing industry.

Fannie Mae and Ellie Mae integrate mortgage underwriting products

Expanded partnership will combine Encompass with three Fannie products and will affect 120,000 mortgage professionals and thousands of mortgage companies.

S&P/Experian: Mortgage defaults tick up from previous lows

The first-mortgage default rate increased to 0.8%, moving away from last month’s historical low. However, according to the report, the data is not an immediate cause for concern. It reflects continued optimism and spending by consumers.

It’s official: CFPB sets TRID date for Oct. 3

You can finally mark your calendars. The Consumer Financial Protection Bureau officially finalized the rule to change the effective date of the Know Before You Owe mortgage disclosure rule, also called TRID, to Oct. 3, 2015.

Largest ranch in the U.S. for sale

All 510,000 acres of Waggoner Ranch are on sale for $725 million. With more than 600 buyers interested, the giant ranch looks like it will net a giant commission for two firms.

United Wholesale Mortgage now offers interest-only financing

United Wholesale Mortgage just rolled out a new product. The company will now offer an interest-only financing program for borrowers who want to save on additional, monthly discretionary income.

Chicago home sales hit new record high

Good news for the Chicago housing market. Sales activity in the Chicago area reached a new record high in the first half of the year, hitting 52,239 units, the most since 2006 and 9% higher than during the first half of 2014.

Q&A on success of Dodd-Frank with its creators

Even after five years, there is still much debate surrounding how helpful Dodd-Frank has been for housing. But despite talk in the industry, Dodd-Frank's sponsors view the regulation and its effects as pretty positive.

10 important red flags when buying a home

Searching for a new home? Be sure to watch for these 10 red flags when going to a open house. They may save you hundreds of dollars in repairs.

Castle & Cooke Mortgage opens branch in SoCal

Castle & Cooke Mortgage announced it opened a new branch office in Anaheim, California, in order to expand the company’s market share in that area.

Monday Morning Cup of Coffee: JPMorgan Chase agrees to massive toxic mortgage settlement

JPMorgan Chase agreed to a massive settlement, stemming from a lawsuit that accused the bank of misleading investors about the quality of pre-crisis residential mortgage-backed securities. And did you know the CFPB turns 4 this week? There's still time to get them a present.

3 credit positives for private mortgage insurance

The mortgage insurance industry runs on a cycle, and according to a new report from Moody’s Investor Service, it’s currently in a sweet spot for these three reasons.

Annaly CEO Wellington Denahan stepping down

Wellington Denahan, the co-founder, chairman and chief executive officer of the nation’s largest mortgage real estate investment trust, Annaly Capital Management, is stepping down as CEO. Company president Kevin Keyes will take over as CEO.

Is Zillow in trouble?

According to a new report, Zillow Group now pulls in a 57% share of real estate web traffic in the U.S. and boasted 140 million unique visitors as of the first quarter of this year. But is it enough to sustain Zillow's business? According to analysts from Barclays, it may not be.

10 best and worst cities for first-time homebuyers

WalletHub compiled a list of 300 U.S. cities to determine the attractiveness of their first-time homebuyer markets. And looking at the top 10 best cities, Texas is taking over.

AIG reportedly prepping United Guaranty mortgage insurance bonds

Investors seeking a new type of bond are about to have that opportunity. According to a Bloomberg report, American International Group is preparing to sell bonds based on mortgage insurance written by United Guaranty Corp.

Former Butler & Hosch employees say firm CEO’s statements are “disingenuous”

The former Butler & Hosch employees at the center of a class-action suit against their former firm are responding to the claims of the firm's CEO, Bob Hosch, saying that Hosch’s statements are “disingenuous.” Seth Lerman, the attorney representing the employess, also details the numerous attempts to serve Hosch with the lawsuit, in direct contradiction with Hosch’s attorney’s statement that Hosch had not yet been served.

Bills.com chooses ClosingCorp to provide closing cost data to consumers

Bills.com, a consumer-facing website designed to “give consumers confidence in making money decisions,” is partnering with ClosingCorp to provide closing cost data to its users.

2015 Global Shippers’ Forum annual report addresses climate change and mega-vessel impact

As the Global Shippers’ Forum (GSF) concludes its first financial trading year 2014-15, its Annual Report reflects on the achievements of the past 12 months including how it has worked with other organizations in its role as an effective voice for shippers around the world.

June volume for ports of Los Angeles and Long Beach see annual declines

Total POLA volumes in June were down 2 percent compared to June 2014 at 721,802 TEU, and June volumes at POLB declined 4.4 percent annually at 583,621 TEU.

Lone Wolf Real Estate Technologies names Patrick Arkeveld president

Lone Wolf Real Estate Technologies, a provider of residential real estate software, announced the appointment of Patrick Arkeveld to the position of company president.

Wells Fargo victorious in Chicago-area predatory lending lawsuit

Wells Fargo secured a victory in court Friday, when a U.S. District Judge dismissed a lawsuit brought against the lender by Cook County, Illinois, which accused the bank of predatory lending. Cook County accused Wells Fargo of steering minority borrowers into higher-priced loans.

HUD officially appoints Richard Green as senior advisor for housing finance

The U.S. Department of Housing and Urban Development officially named its replacement for former HUD Senior Advisor Edward Golding, who recently took over as head of the Federal Housing Administration. Richard Green, who currently serves as the director of the University of Southern California Lusk Center for Real Estate, will take over for Golding.

6 key takeaways from June housing starts

Trulia’s Chief Economist, Selma Hepp, dug deeper beyond the top-line numbers in the June housing starts and permits, and she drew some compelling conclusions and questions about where things are going in the second half of 2015. Will this be the best year for housing market since the recovery began?

Here’s how the top banks fared in their 2Q15 earnings

The nation’s top mega banks reported their earnings this week, painting the beginning picture of how housing and the economy fared during the second quarter. This is how they performed.

Wife also going to prison for massive foreclosure rescue scam

A California woman is set to join her husband in serving time in federal prison for their roles in a massive mortgage fraud scheme that defrauded struggling homeowners out of more than $5.8 million.

This MBA homebuilder chart shows exactly what a sawtoothed recovery looks like

Even with monthly changes, the latest chart in the Mortgage Banker Association’s chat series shows that its Builder Application Survey Index is in fact trending higher.

Federal Court of Appeals hands yet another victory to MERS

A ruling handed down by the United States Sixth Circuit Court of Appeals hands another legal victory to MERSCORP Holdings, which again saw its authority challenged, this time in the state of Kentucky.

B2R Finance names Darren Thompson chief financial officer

In this role, Thompson is responsible for oversight of the finance, accounting and control, risk, regulatory and corporate strategy functional areas and will report to CEO Jason Hogg.

The Wrap: Appraisals bounce back after holiday weekend but still down

While the appraisal volume did bounce back from the holiday week, it fell short of a complete recovery, which supports the view that the overall trend is slightly downward. Since appraisal volume is a key metric for forecasting home sales and refis, you know you better read on.

Single-family housing starts down in June

Privately-owned housing starts in June were up 9.8%, but almost all of that was in multifamily as single-family starts were down almost 1%. Given the low inventories and surge in sales, it's confounding. Want to know more?

CoreLogic: Cash sales once again trend lower in April

Cash sales once again trended down, accounting for 33.7% of total home sales in April 2015, down from 37.4% in April 2014. This marks the 28th consecutive month of declines.

Fannie Mae planning first actual loss credit risk-sharing deal

As predicted by Fitch Ratings earlier this week, Fannie Mae is indeed preparing to issue its first actual loss credit risk-sharing deal, perhaps as early as the fourth quarter of 2015. Click through to learn more about what Fannie Mae intends to do next.

SunTrust 2Q revenue beats estimates

SunTrust Banks' total revenue hit $2.1 billion for the current quarter, an increase of $85 million compared to the prior quarter, primarily driven by higher net interest income and broad-based growth in noninterest income.

CFPB Deputy Director Steven Antonakes steps down

The man in the number two position at the Consumer Financial Protection Bureau announced he is stepping down in an internal memo to employees Thursday. Find out why here.

Fannie Mae’s latest risk-sharing deal posts mixed pricing

Citing “overwhelmingly positive” investor response, Fannie Mae announced the pricing of its latest credit risk-sharing transaction under its Connecticut Avenue Securities series. The pricing was mixed. Click through to learn more.

California non-distressed property sales drive home sales higher

California single-family home and condominium sales grew 8.5% in June, mainly driven by an increase in non-distressed property sales.

NAFCU to Congress: HR 3038 burden for smaller, community institutions

National Association of Federal Credit Unions Vice President of Legislative Affairs Brad Thaler sent a letter to Senate Finance Committee Chairman Orrin Hatch and Ranking Member Ron Wyden in response to the House-passed “Highway and Transportation Funding Act of 2015." It's a doozy.

QBE selling lender-placed insurance business to National General

Seeking to move on from a business line that is “not core” to its future strategy, QBE North America is selling its lender-placed insurance business to National General Holdings Corp. Here are all the details.

CFPB releases first monthly snapshot of consumer complaint database

The CFPB will release monthly reports that provide insight on trends and analyses found in the complaints.

BPC discussion: Fannie, Freddie reform can happen but one step at a time

Reform of the GSEs and housing finance may come, but it’s more likely to come in small bites rather than the big prix fixe Johnson-Crapo or the PATH Act. Republicans and Democrats agree on some things, like getting government out of housing finance outside of liquidity. But more? Read on.

$1.25 billion bulk MSR portfolio hits the market

A $1.25 billion bulk offering of mortgage servicing rights is available for sale, according to MountainView Servicing Group, a provider of residential mortgage servicing rights sales and valuation advisory services, which is advising on the sale.

New home purchase applications climbed 1% in June

The Mortgage Bankers Association Builder Application Survey data for June 2015 shows mortgage applications for new home purchases increased by 1% relative to the previous month.

Freddie Mac: Mortgage rates continue roller coaster, move to new high

Mortgage rates continued to fluctuate and moved to their highest level this year, amid volatility in the bond markets. The 30-year fixed-rate mortgage is now at the highest level since October of last year.

Citigroup's net income increases to $4.8 billion

Citigroup posted net income for the second quarter 2015 of $4.8 billion, or $1.51 per diluted share, on revenue of $19.5 billion, beating consensus expectations.

Goldman Sachs net revenues surge to highest level in five years

Despite numbers being impacted by $1.45 billion in net provisions for mortgage-related litigation and regulatory matters, Goldman Sachs posted its highest first-half net revenues in five years.

MGIC reports $113.7M in net income in 2Q

MGIC Investment Corp. reported that net income for the quarter ended June 30, 2015 was $113.7 million, compared with a net income of $45.5 million for the same quarter a year ago.

Fitch: Fannie, Freddie risk-sharing deals will become more common

With investor response to the credit risk-sharing deals from Fannie Mae and Freddie Mac continuing to be positive, look for GSE risk-sharing deals to become more common in the future, Fitch Ratings said in a new report.

Beige Book: Housing continues positive trend

All 12 Federal Reserve Districts continued to record that economic activity expanded from mid-May through June, with positive reports on the residential real estate market. Here’s how the 12 districts fared.

This 1 graphic shows how newly constructed homes have changed in just 20 years

Twenty years makes quite a difference, and even more than one can imagine in the housing marketplace. Want to know what the American home looks like today compared to when Tonya Harding was still considered a contender?

HomeUnion expands into California

HomeUnion, an online real-estate investment management firm, announced that it has added Southern California to its list of active investment markets due to a lot of strong interest from Asia-based investors who are seeking growth and a haven for capital.

Senate Banking puts CFPB and Cordray in the crosshairs

The director of the Consumer Financial Protection Bureau appeared before the Senate Banking Committee on Wednesday for his twice-a-year legislative grilling, where lawmakers raised ongoing concerns about the bureau’s massive data collection, its management, its lack of oversight and its overspending. But there's more...

Fed Chair: Interest rate hike still on table for 2015

Federal Reserve Chair Janet Yellen told the House Financial Services Committee Wednesday that the Fed will look at raising interest rates in 2015 if and as the labor market improves and inflation hits medium-range goals.

Stonegate Mortgage names Scott Houp as SVP

Stonegate Mortgage named Scott Houp as senior vice president and third-party origination eastern division manager, where he will support third-party origination regional sales teams.

MBA supports, suggests mods to HUD loan-level certifications

The goal of this revision to the certification is to clarify the scope of liability associated with errors that can occur in the origination of Federal Housing Administration-insured mortgages, and to foster a strong culture of quality control in the program. MBA says it's a good revision, and suggests some tweaks.

Homebuilder confidence hits highest level in a decade

The housing market index, unchanged in July at 60, is signaling substantial strength for the new home market, marking the strongest reading since November 2005.

Fannie Mae issues sale of more than $800M in non-performing loans

Fannie Mae today announced its second sale of non-performing loans, including a smaller Community Impact Pool, a geographically-focused, high occupancy pool being marketed to encourage participation by nonprofits and minority- and women-owned businesses.

Foreclosure starts at a 10-year low in first half of 2015

There were a total of 597,589 U.S. properties with foreclosure filings — default notices, scheduled auctions and bank repossessions — in the first half of 2015, down 13% from the previous six months and down 3% from the same time period in 2014. Things are changing but where are the trends heading?

EXCLUSIVE: Bob Hosch responds to allegations about abrupt closure of Butler & Hosch

In the two months since mortgage banking industry law firm Butler & Hosch suddenly shut down, serious allegations have begun to surface about what led to the abrupt collapse of the firm. Now, for the first time, the firm's managing partner and CEO, Bob Hosch, is speaking out about the allegations levied against both him and the firm that carried his name for more than 30 years.

FMC gets real about port congestion

In a development certain to resonate with logistics managers, the Federal Maritime Commission has just released a report entitled U.S. Container Port Congestion & Related International Supply Chain Issues: Causes, Consequences & Challenges.

Still no satisfaction on the horizon for long-term surface transportation authorization

House Ways and Means Committee Chairman Paul Ryan (R-WI) and House Transportation and Infrastructure Committee Chairman Bill Shuster (R-PA) yesterday introduced the Highway Transportation and Funding Act of 2015. This bill would reauthorize surface transportation programs through December 18, 2015 and be paid with roughly $8 billion in common sense reforms, according to Ryan and Shuster.

BOK Financial Mortgage adds Rhonda DeLuca as underwriting manager

In this role, DeLuca is tasked with growing the correspondent channel’s non-delegated lender platform, managing the mortgage credit risk for correspondent lending and managing all underwriting personnel, functions and resources.

Here’s what is happening at the CUNA conference

The Credit Union National Association and the World Council of Credit Unions kicked off America’s Credit Union Conference and the World Credit Union Conference, which the two entities are co-hosting in Denver. These tweets give an inside look at what’s happening.

Despite Morris Schneider Wittstadt bankruptcy, Dustin Johnson vows to keep fighting for “stolen” $3M

As PGA golfer Dustin Johnson prepares to tee off later this week at the Open Championship at St. Andrews in Scotland, the law firm that he alleges stole $3 million from him is fighting for its existence in bankruptcy court in Virginia. But despite Morris Schneider Wittstadt declaring bankruptcy last week, Johnson does not intend to give up his fight to get his money back.

Obama: New Fair Housing rule will help further American Dream

Aiming to reinforce the administration’s commitment to the Fair Housing Act, President Obama dedicated his latest weekly address to the Fair Housing Act and its impact on fighting discrimination in housing.

MISMO will push deadline to November

The MISMO Residential Standards Governance Committee has announced that it will defer the release of Version 3.4 of the MISMO Reference Model to November 2015. Wise move?

NY Fed: Consumers cautiously optimistic about economy

Consumer expectations in the June 2015 Survey of Consumer Expectations generally show a slightly more positive outlook of the U.S. economy. Is it warranted, and why?

4 charts show where mortgage jobs are being created

The number of people working in mortgage lending has fallen on a quarterly basis, though there was a recent monthly upturn. Worried yet? Read on.

WFC, JPM earnings about to reveal the status of housing

Wells Fargo and JPMorgan Chase are once again about to kick off earnings season for the financial industry, with results for the second quarter projected to reveal a great deal about the status of the housing market.

CoreLogic: Foreign buyers back off U.S. housing market

Despite home sales moving to the best level in eight years, there is one group of homebuyers not participating in the new growth — foreign homebuyers. Will this trend continue?

Was the Third Amendment sweep of Fannie, Freddie a sham?

Last week in a teleconference hosted by Investors Unite, one of the guests — noted legal scholar Richard Epstein — didn’t mince words about what he thought of the Treasury’s “Third Amendment sweep” of GSE profits. He called it a “sham transaction.” Does that rustle your feathers?

Congressmen Neugebauer, Delaney to discuss GSE reform

What's to be done about GSE reform? The Bipartisan Policy Center is bringing together two Congressmen with the House Financial Services Committee to discuss their takes at a roundtable this Thursday. Read on.

Monday Morning Cup of Coffee: Housing isn’t providing the Goldilocks spot for rates

This week the Fed will be answering to Congress and while there are a dozen other burning questions, the one housing and mortgage finance is watching closest starts with “interest” and ends with “rates.” Plus, the dangers of being a Realtor, as the search for a missing Realtor reaches four weeks.

MGIC enters into exclusive partnership with Mortgage Mapp

Mortgage Guaranty Insurance Corporation announced Friday that it will now serve as the exclusive provider of mortgage insurance rates for Mortgage Mapp’s mortgage calculator.

Zillow CEO lists home for sale…on Zillow

Just in case there was any doubt about whether Zillow Group Chief Executive Officer Spencer Rascoff believes in his product, he showed Friday just how much of a Zillow-head he really is – by listing a home for sale…on Zillow.

Chicago tax talk rattles real estate agents

The city of Chicago’s finance department recently passed the Personal Property Lease Transaction Tax Ruling, which could up the costs for real estate agents using MLSs. What are we going to tax next?

Fitch: Prime jumbo RMBS on pace for best year since crisis

A strong second quarter has 2015 on pace to be the best year for prime jumbo residential mortgage-backed securitization issuance since the financial crisis, according to a new report from Fitch Ratings.

ERA Real Estate appoints new COO

ERA Real Estate appointed Susan Yannaccone as chief operating officer, bringing 17 years of industry experience to her new role.

Some ocean carriers may lose money this year, says Drewry

A toxic mixture of overcapacity, weak demand and aggressive commercial pricing is threatening liner shipping industry profitability for the rest of 2015, according to the Container Forecaster report published by global shipping consultancy Drewry.

Freddie Mac offloads more credit risk to insurers

Freddie Mac is continuing in its efforts to limit the taxpayers’ liability by obtaining a number of insurance policies designed to cover much of the remaining credit risk associated with several of its Structured Agency Credit Risk transactions from earlier this year.

$1.4 billion Ginnie Mae bulk servicing pool available for purchase

A $1.4 billion Ginnie Mae bulk mortgage servicing rights pool is available for purchase, according to The Prestwick Mortgage Group, which is acting as the broker for an independent mortgage company. Here are the details.

Federal Reserve still hesitant to raise rates

The minutes from the June meeting of the Federal Open Market Committee show that nearly all the committee members and the Federal Reserve are still hesitant to increase the federal funds rate. So when is FOMC going to raise rates?

Dick Bove: Likelihood of settlement over Fannie, Freddie sweep growing

A client note from Rafferty Capital Management supports what a growing number of observers say — that the government is in a bad position regarding the Third Amendment Sweep of shareholder profits, and is likely to settle with shareholders.

Freddie Mac selling off $632 million in non-performing loans

As part of its ongoing effort to offload non-performing loans, Freddie Mac announced the auction of four pools of deeply delinquent loans, totaling $632.2 million. Here are all the details.

Mortgage, housing trades urge CFPB to extend TRID deadline, again

More mortgage and housing industry trade groups are asking the Consumer Financial Protection Bureau to push back its effective date for the TILA-RESPA Integrated Disclosure rule to the end of the year, or at least to extend the grace period.

Dear fancy tiny house people: Do you think "I've made a huge mistake?"

It's funny, it's irreverent and it's good — this humorist just destroys the whole tiny house movement in one column. Mature language and lots of laughs ahead.

Here's how rates are impacting the top 5 housing markets

While the housing market is still healthy, the potential impact of rising interest rates remains on most real estate agents’ minds this summer. Here's how the top five housing markets are holding up.

Industry groups partner with Fannie, Freddie to develop single security

A consortium of industry groups are partnering with Fannie Mae, Freddie Mac, and Common Securitization Solutions to further the development of the Common Securitization Platform and the single security.

Fannie Mae to align EarlyCheck with new loan requirements

Fannie Mae will launch EarlyCheck Version 4.0 during the weekend of Sept. 12 to enhance lenders' ability to resolve delivery issues prior to delivery.

MGIC: Mortgage delinquencies drop to 66,357 on file in June

June posted a jump in primary new insurance, growing to $4.5 billion, according to the latest report from MGIC. And primary new insurance wasn't the only thing to improve, with the month also ending with fewer delinquencies on file.

HUD’s social engineering is coming to your neighborhood

Look out American neighborhoods, you’re about to get engineered good and hard. Why? Because market pricing is now considered discrimination by the White House. I'm not even kidding.

HUD announces “final rule” on Affirmatively Furthering Fair Housing project

The U.S. Department of Housing and Urban Development announced a final rule on Affirmatively Furthering Fair Housing today that it says will “equip communities that receive HUD funding with data and tools to help them meet long-standing fair housing obligations in their use of HUD funds.”

Mortgage applications rise as rates tick down

After weeks of declines as rates inched up, applications turned around. With rates ticking down purchase apps were up, while the share of refi applications dropped to 2009 levels. Want to know more?

Is Seattle about to do away with single-family zoning?

Real estate in Seattle could be on the verge of a seismic shift, thanks to a plan that’s working its way through the city’s governmental process. According to a report from the Seattle Times, Seattle is considering a plan to do away with single-family zoning as part of a massive zoning overhaul.

Former Delaware Chief Justice files amicus brief in Fannie/Freddie sweep suit

The Center for Individual Freedom has filed an amicus brief in the United States Court of Appeals for the District of Columbia Circuit in the case of Perry Capital LLC v. Lew. Want to know more?

San Francisco exhibiting potential signs of a housing bubble

The San Francisco Bay Area is showing some warning signs of a possible bubble. However, this isn't to say the entire nation is on the verge of a bubble. Collateral Analytics noted that some economists and real estate observers are trying to sensationalize an issue that doesn't exist.

Here are the hottest 20 housing markets in America right now

The U.S. housing markets are on track to be the best since 2006, with robust demand and a corresponding growth in supply maintaining their springtime momentum and helping to boost sales in June 2015, according to the Realtor website report.

Consumer attitudes on housing signal healthier purchase market ahead

Americans’ outlook toward the current home selling market and the future of home rental prices may bode well for purchase activity this year, according to results from Fannie Mae's June 2015 National Housing Survey.

Surging rent drives first-time homebuyers in Northwest

The Northwest posted a surge in first-time homebuyers thanks to rising rents and an influx of relocating workers. “In most cases buying a home costs significantly less than renting and the good news is the monthly payment will remain the same as rents continue to rise,” said Mike Gain, CEO and president of Berkshire Hathaway HomeServices Northwest Real Estate.

Mortgage credit availability stalled in June

Mortgage credit availability decreased in June according to the Mortgage Credit Availability Index, a report from the Mortgage Bankers Association which analyzes data from Ellie Mae’s AllRegs Market Clarity business information tool.

CoreLogic: May home prices rose 6.3% nationally

May home prices nationwide, including distressed sales, increased by 6.3% in May 2015 compared with May 2014, according to the home price report from CoreLogic. How is your market doing?

FHA proposes insurance claim deadline

Attention lenders and servicers. There may soon be a deadline to file insurance claims with the Federal Housing Administration, after the FHA issued a proposal establishing a “clear timetable” for claim payments. Click through to learn more.

Former LandCastle Title CEO’s luxury condo scheduled for foreclosure auction

As the law firm he formerly managed is fighting for its life in bankruptcy court, a luxury condominium once owned by Nathan (Nat) Hardwick and allegedly purchased with ill-gotten gains is about to be auctioned off after the property was foreclosed on.

Here are the top 10 rental markets for real estate investors

While the inventory of foreclosed homes is quickly shrinking, there is still plenty of opportunity in real estate investments, particularly in these 10 cities, according to the same people who operate We Buy Ugly Houses.

CUNA to CFPB: Extend TRID effective date to end of 2015

The Credit Union National Association is asking the Consumer Financial Protection Bureau to push back its effective date for the Know Before You Owe mortgage disclosure rule to the end of the year. Do they have a point?

EXCLUSIVE: Morris Schneider Wittstadt officially files for Chapter 11 bankruptcy

In the bankruptcy filing, obtained exclusively by HousingWire, Mark Wittstadt, the firm's managing partner, said that the firm would have been able to survive the alleged embezzlement of $30 million from the firm's accounts. However, the subsequent lawsuit from PGA golfer Dustin Johnson and the disastrous sale of assets to now-defunct Butler & Hosch was too much for the firm to bear.

Here’s the team that caused the Detroit foreclosure crisis

Detroit didn’t stumble into the foreclosure mess by itself, so it shouldn't be left to recover all on its own. So who is to blame? The government and lenders, but not the borrowers, according to an opinion piece in the Detroit News.

Scammers targeting families seeking affordable housing programs

Fraudsters are preying on low-income families who are seeking government-subsidized housing, setting up websites and help lines to get personal information and phony fees and rent deposits. It's ugly.

Clear Capital: Housing the second half of 2015 not so hot

This year is already halfway over, and according to a new market report from Clear Capital, the rest of the year doesn't not look too bright. "With a first full look of the spring buying season and six-month update to the forecast, our data through June confirms our initial projection that 2015 would be a non-growth year," said Alex Villacorta, vice president of research and analytics at Clear Capital.

What to expect when you’re expecting a CFPB administrative action

In early June, Consumer Financial Protection Bureau Director Richard Cordray issued a decision in the first appeal of an agency administrative enforcement proceeding against a mortgage lender, and a deeper look shows how the regulator will proceed with such actions.

Consumer spending flat in June

Americans' daily self-reports of spending averaged $90 for the month of June, essentially unchanged from the previous two months, despite the surge in homebuying brought on by worries about rising interest rates. Here's what's happening.

Monday Morning Cup of Coffee: Is housing strong enough to weather rate hikes?

Going into the second half of 2015, where is the housing recovery, and is it strong enough to deal with what many say is still an inevitable rate hike? Plus a look at price growth, agency MBS, the latest turn in FannieGate, and more. Read on.

Black Knight: 6.5M borrowers stand to benefit from refi

Between traditional and HARP programs, approximately 6.5 million borrowers could likely both qualify for and benefit from refinancing, according to the latest Black Knight Financial Services Mortgage Monitor Report. Want to know more?

Fannie, Freddie CEOs get a well-deserved huge boost in pay

Early last month, the wheels were set in motion to increase CEO compensation of the government-sponsored enterprises to a level similar to CEOs doing the same jobs at other companies. The FHFA director wants this but the White House doesn't. The FHFA is right. Here's why.

Millennials demand single-family homes

Young adults prefer single-family homes, and in fact, they are found to be more likely to reside in a single-family home today than their predecessors. And according to this research, the desire is only going to continue to grow.

Stonegate Mortgage expanding direct-to-consumer lending operation

Citing a goal of attracting more Millennial buyers, Stonegate Mortgage Corporation is growing its direct-to-consumer lending operation to meet the changing market.

Optimal Blue launches mortgage pricing application

Optimal Blue introduced QuickSearch, a privately branded mortgage pricing app for mobile devices, during its 2015 Client Conference to allow loan officers to perform real-time pricing searches for their borrower.

Chicago biz pub: Redfin school data isn’t accurate

Chicago Real Estate Daily, a Crain’s publication, says that Redfin is posting inaccurate ratings on some schools, which could potentially turn some buyers away from the neighborhoods around them.

BOK Financial hires new mortgage president

BOK Financial named Glenn Brunker to lead BOK Financial Mortgage, bringing nearly 30 years of financial industry experience to his new role. In this position, Brunker is charged with managing all mortgage origination channels.

Construction spending rises in May but residential component weak

Construction spending during May 2015 was estimated at a seasonally adjusted annual rate of $1,035.8 billion, 0.8% above the revised April estimate of $1,027.0 billion, the U.S. Census Bureau of the Department of Commerce announced today.

Mortgage applications drop as interest rates rise to 9-month high

Mortgage applications decreased 4.7% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending June 26, 2015. Want to know why?

CFPB Watch: Congress fights for control

“The CFPB undoubtedly remains the single most powerful and least accountable Federal agency in all of Washington,” Jeb Hensarling said. “When it comes to the credit cards, auto loans and mortgages of hardworking taxpayers, the CFPB has unbridled, discretionary power not only to make those less available and more expensive, but to absolutely take them away.”

Company spotlight: Walz and LenderLive

”Together, we provide enhanced mortgage technology, compliance capabilities, critical borrower communication and fulfillment solutions and data-enriched analytics that greatly reduce companies’ compliance and operational burdens. It is exceptional how well the companies complement each other,” said Jonathan Kunkle, president of LenderLive’s GuardianDocs division.

Smoking gun?

The Treasury document also contradicts statements made a number of times by Treasury officials about the capital ratios that Fannie Mae and Freddie Mac would have to maintain. The document claims the percent is 3% to 4%, while statements since then have claimed 10%.

How servicers can change the conversation with consumers

“Bad letters damage the brand,” Katherine Porter says. “There’s a contagion effect of this. I think bad letters are unjust. They disproportionately harm the borrowers we need to help the most.”

The awful truth about TRID

The CFPB left the grace period open-ended and most in the industry interpreted that to mean that it will last throughout the rest of 2015, at least. Unfortunately, as welcome as that grace period is, TRID remains a costly and complicated fix that has enormous implications for the whole industry.

What Makes a Superior Supply Chain for the Modern Era?

The high-volume warehouse or distribution center that supports B2B, Omni-channel activities, direct-to-consumer shipments, and the Internet of Things all require a flexible and scalable supply chain in order to function at optimal capacity. The problem is that most of today's supply chains are made up of fragmented silos of information that compromise their ability to compete, be responsive to customer demands or seize new business opportunities.

Sources: Morris Schneider Wittstadt declaring bankruptcy, closing immediately

One source told HousingWire that MSW — a Georgia-based law firm that made national headlines last year when the firm sued its former managing partner for allegedly embezzling $30 million from the firm’s accounts and the accounts of the firm’s subsidiary, LandCastle Title — has not yet filed bankruptcy, perhaps due to the looming July 4th holiday, but the source expects the firm to file as early as Monday.

SEC fines hedge fund advisor for inflating mortgage bond prices

The Securities and Exchange Commission fined a Connecticut-based hedge fund advisory firm for fraudulently inflating the prices of residential mortgage-backed securities in hedge fund portfolios it managed.

8 avoidable mistakes first-time homebuyers keep making

The last thing a first-time homebuyer wants to do is mess the entire homebuying process by doing one of these common mistakes. Here are mistakes 8 things that could ruin the homebuying process.

Trending Thursday: CFPB data collection worse than the NSA?

If you liked the NSA spying on innocent Americans, you’ll love what the CFPB is up to. Plus, is the mortgage industry ready for the coming surge of minority homebuyers, Dodd-Frank is turning five this month, and more.

Freddie Mac: Mortgage rates increase to 2015 highs

Mortgage rates increased to new 2015 highs moving into the holiday weekend, with the 30-year, fixed-rate mortgage averaging 4.08% for the week ended July 2. Here's why.

This 1 MBA chart shows how ARMs are hitting a 2015 highpoint

The adjustable rate mortgage share of mortgage applications reached its 2015 high at 7% in late June, and as interest rates rise there's more ground for ARMs to make up.

U.S. employers added fewer jobs than expected in June

On the surface the employment numbers for June look positive, but even a cursory glance below the headline shows that the unemployment rate only ticked down because of yet more dropping out of the workforce. Meanwhile, wage growth was flat. Want to know more?

Steven Cohen’s Point72 Asset Management discloses passive stake in Nationstar

A filing with the Securities and Exchange Commission revealed that Point72 Asset Management and its founder, billionaire Steven Cohen, own more than 5% of Nationstar Mortgage Holdings.

3 tips to recruiting Millennial loan officers

There is a drought in the market when it comes to recruiting Millennial loan officers. In an interview with HousingWire, Casey Cunningham CEO at XINNIX, explained how to show the next generation the way into the mortgage industry.

Manhattan real estate has never been more expensive

No one has ever argued that living in New York isn’t an expensive proposition, but a new report shows just how expensive it is to live in New York’s priciest borough. According to data from Douglas Elliman, it’s never been more expensive to live in Manhattan than it is right now.

Family flees dream home because it used to be a meth house

An Indiana family was driven from its “dream home” after discovering the home's history made the property a health hazard. Shortly after moving in, children started getting sick and it got worse from there.

Moody’s Analytics: Single-family rental growth will accelerate

Single-family home rentals since the housing bubble burst nearly a decade ago have seen massive growth, according to a new look from Mark Zandi, Moody’s Analytics’ chief economist — but there's more to come. Here's why.

Fannie, Freddie CEOs awarded $3 million raises

Both Fannie Mae and Freddie Mac CEOs were granted multimillion-dollar paydays by the Federal Housing Finance Agency. A move that comes with great objection from lawmakers and the White House.

Tim McGraw partners with Chase to give homes to veterans

Country star and actor Tim McGraw is a big supporter of the military and veterans, and now he’s teaming up with Chase Bank and Operation Homefront to give mortgage-free homes to veterans. Happy Independence Day, indeed.

RealtyTrac: All-cash sales at lowest since late 2009

Just under a quarter – that is 24.6% – of all single family home and condo sales in May were all-cash purchases, down from 28.5% in the previous month and down from 30.4% a year ago. Distressed sales are drying up. Want to know more?

Jean-Claude Van Damme lists $10M seaside LA house

One of Hollywood’s most famous martial arts-trained actors, Jean-Claude Van Damme, put his beautiful seaside mansion in Marina Del Rey up for sale for $9.9 million.