The National Association of Home Builders of the United States has endorsed the Tokyo Declaration, which it said is "a major advancement in the effort to improve the quality of housing and living environments throughout Japan."The NAHB recently chaired the International Housing Association's first-ever meeting in Asia, at which participants from nine countries signed the landmark agreement supporting enactment of a National Housing Act for Japan. NAHB immediate past president Bobby Rayburn, a homebuilder from Jackson, Miss., said the "first-of-its-kind declaration emphasizes the important role IHA plays in improving the quality of housing for people across the globe." The NAHB can be found on the web at http://www.nahb.org.
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Fathom Holdings acquired START Real Estate to expand its first-time homebuyer program, the company announced Thursday.
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Noninterest income at the Minneapolis-based company jumped more than 10% during the third quarter, while asset quality improved and expenses held steady. "Our focus is very much on organic growth," said CEO Gunjan Kedia.
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Observers believe the government shutdown and lack of data is keeping mortgage rates in the same narrow range, as investors have issues reading the tea leaves.
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The Detroit-based mortgage bank's announcement trailed competitors' by over two weeks, but is taking a more aggressive risk-reward stance on the limit.
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Despite the decrease, average profit margins approached 50%, as the lock-in effect continues to stymie inventory growth and keep home values elevated.
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The head of the government-sponsored enterprises' oversight agency also asked existing investors to review risk factors as officials eye a new public offering.
October 15