ThinkstockMortgage industry technology and services company Lender Processing Services Inc. (NYSE: LPS) reported today that mortgage delinquencies rose to 7.12% in November 2012, up from 7.03% in October, but down from 7.83% in November…
ThinkstockBank of America/Merrill Lynch is going positive on the housing sector. This call is in builders and in building products, but they also made a positive call on two senior housing plays. It should…
ThinkstockThe federal Consumer Financial Protection Bureau (CFPB) announced today the adoption of new rules for mortgage lenders that prohibit deceptive teaser rates or no-documentation from borrowers, as well as requirements that lenders make a…
ThinkstockThe Mortgage Bankers Association (MBA) released its weekly report on mortgage applications this morning, noting a rise of 11.7% in the group’s seasonally adjusted composite index. That compares with a decline of 21.6% for…
ThinkstockThe Office of the Comptroller of the Currency and the Federal Reserve announced this morning that the agencies have reached an agreement with 10 banks to settle enforcement actions related to “deficient practices in…
Brian Katt / Wikimedia Commons / GNU Free Documentation LicenseCountrywide Financial is the gift that keeps on taking from Bank of America Corp. (NYSE: BAC). This morning it took $10 billion from Bank of…
ThinkstockIn the month of November, 55,000 U.S. homes were foreclosed, down from 59,000 in October and down from 72,000 in November 2011, according to research firm CoreLogic (NYSE: CLGX). While an improvement, the number…
ThinkstockThe Mortgage Bankers Association (MBA) released its weekly report on mortgage applications this morning. It noted a decline of 21.6% in the group’s seasonally adjusted composite index, compared with a decline of 12.3% for…
ThinkstockThe U.S. Census Bureau reported this morning that construction spending in November fell by 0.3%, to an estimated seasonally adjusted annual rate of $866 billion, from a revised estimate of $868.2 billion from October.…
Thinkstock The International Longshoremen’s Association and the U.S. Maritime Alliance have agreed to extend contract negotiations for 30 days, thereby averting a strike scheduled to begin December 30th. The main issue in dispute were…
ThinkstockThe National Association of Realtors (NAR) this morning released its data on pending home sales in November. The index rose 1.7% from a downwardly revised 104.6 in October to 106.4, and it is 9.8%…
ThinkstockNegotiations have failed between the International Longshoremen’s Association and the U.S. Maritime Alliance, raising the threat of a longshoreman’s strike against U.S. ports on East and Gulf Coasts. The Alliance represents container ship carriers,…
ThinkstockThe U.S. Census Bureau this morning released data on new single-family home sales for November. Sales rose 4.4% month-over-month, to a seasonally adjusted annual rate of 377,000, the highest point since April 2010. Economists…
ThinkstockThis data may not seem as fresh as an unemployment report, but housing prices actually fell in October versus September. The good news is that this is largely due to seasonal weakness. The bad…
Flickr, Images of MoneyThe resolution for the fiscal cliff remains elusive. The politicians hate each other too much to be rational. If one sector has a lot to lose as the country drives off…