Obama Nominates Three to Federal Reserve Board of Governors
“President Barack Obama on Thursday sent three nominations for the Federal Reserve Board of Governors to the US Senate.”
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PMI Plans Capital Boost for Mortgage Insurance Business“The PMI Group (PMI: 5.37 -5.29%) this week released pricing on its public offering of nearly 77.77m shares of common stock at $6.15 per share. It also agreed to sell $261m — by principal amount — of its 4.5% senior notes due 2020, according to a statement.”
Freddie Mac Mortgage Delinquencies End 3-Year Climb“The single-family delinquency rate in the Freddie Mac (FRE: 1.495 -2.92%) mortgage portfolio dropped for the first time in three years to 4.13%, down from 4.20% in February.”
D.R. Horton Profit Jumps; Shares Rise“No. 2 U.S. homebuilder DRHorton reported a quarterly profit on Friday, surprising Wall Street and sending its shares up in early trading.”
US Home Prices Could Hit New Low: Shiller“Finding a “new bottom” in U.S. housing prices is “within the realm of possibility,” Robert Shiller, a Yale economics professor and co-founder of the Case-Shiller price index, told CNBC Friday.”
No ‘frenzy’ to beat homebuyer tax credit deadline‚ÄúThe $8,000 homebuyer tax credit has had an impact: Reports from around the nation are that contract signings have been way up the past few weeks as people prepare for the credit to expire on Friday.‚Äù
Economy grows for third straight quarter“The U.S. economy kept growing in the first three months of this year but at a much slower pace than at the end of 2009, according to a government report Friday.”
Jumbo Loans Easier to Find“Getting a jumbo mortgage is becoming a little easier for home buyers in the New York area. Jumbos in the tri-state area are mortgages that exceed $729,750, the limit set to receive government backing or for lenders to sell the loans to mortgage-finance giants Fannie Mae and Freddie Mac.”
Realogy boosts revenue but still in the red“Real estate franchise powerhouse Realogy Corp. said first quarter revenue was up 18 percent from a year ago, to $819 million, helping the company trim losses by 24 percent, to $197 million.”
IMA to Sell $196.4m Fannie, Freddie Servicing Portfolio“Interactive Mortgage Advisors (IMA) is facilitating the sale of a $196.4m Fannie Mae (FNM: 1.25 +0.81%), Freddie Mac (FRE: 1.53 +2.68%) and private investor bulk servicing portfolio on behalf of an undisclosed seller, according to an offering obtained by HousingWire.”
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