Jim Morrison

Jim Morrison

Banker & Tradesman Staff

Jim Morrison can be reached at editorial@thewarrengroup.com

Nationwide Inventory Up; Starter Homes Hit 6-Year Low

National housing inventory rose 3.3 percent year-over-year, driven almost entirely by a 13.3 percent increase in premium homes. However, starter home inventory plummeted, hitting its lowest level in at least six years, and amid a 9.6 percent year-over-year increase in median list price.

Martine Taylor

Humor, Housing and Humanity

Martine Taylor took a job as a receptionist after earning a degree in family studies; she thought she’d go back and get a master’s degree in social work, but never did. She’s spent most of her professional life in the nonprofit sector

Homeowner Equity Increased by $908B in 2017

In the fourth quarter of 2017, U.S. homeowners with mortgages (which account for roughly 63 percent of all properties, according to a 2016 American Community Survey) have seen their equity increase 12.2 percent year over year, representing a gain of $908.4 billion since the fourth quarter of 2016, according to a report released today from CoreLogic, a global property information provider.

MA Mortgage Delinquencies Down to 4.6 Percent in December

Nationally, 5.3 percent of mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure) in December 2017, according to CoreLogic, a global property information provider. This represents no change in the overall delinquency rate compared with December 2016 when it was also 5.3 percent.



NFIP Set to Expire in Three Weeks Unless Congress Acts

This week’s forecast calls for another nor’easter to follow the one that combined with astronomical high tides to flood the much of East Coast last week. Affected property owners probably hope the magnitude and frequency of those storms would serve as a call-to-action for Congress to reform the beleaguered National Flood Insurance Program.

2018

2018 Is Starting Off Even Tougher for Buyers Than 2017

The January numbers are in and the spring market has sprung. From the look of things, 2018 is going to make the feverish 2017 market look tepid and continuing to squeeze buyers. Though the typical spring rush of new listings is coming online, it hasn’t been enough to satisfy the demand created by six years of declining inventory.

Ocwen

Ocwen to Acquire PHH for $360M

Financial services holding company Ocwen Financial Corp. will acquire mortgage origination and servicing platform PHH Corp. for approximately $360 million in cash in a deal expected to close later this year.

Lenders, Brokers Look for Lucrative LOs

Several factors at work in the marketplace have combined to create extreme competition for talented LOs. First, rising interest rates have slammed the brakes on the refi business, so only LOs who hustle for purchase business are going to make money.