Data and information management

In metropolitan cities that have at least 200,000 people, foreclosure activity increased in 125 out of 212 markets in the first half of this year compared to the prior six months.

The Census Bureau reported that sales of newly built single-family homes fell to a 350,000 seasonally adjusted annual rate in June from a 382,000 rate May.

Residential loan applications increased 1% for the week ending July 20 (from the week prior) but with refinancings accounting for 81% of all new business.

Seven affordable housing groups are urging the Department of Justice, HUD and federal regulators to investigate whether the prevalence FHA and VA lending in minority neighborhoods—and the low percentage of conventional lending—is a result of racial steering.

Forecasters expect Wednesday’s new-home sales report will show June sales rose by barely 1% after a 7.6% jump in May.

Freddie Mac is hiking its origination forecast by $200 billion to $1.65 trillion for the year.

Sales of existing homes unexpectedly fell 5.4% in June after holding steady in April and May.

June statistics from the California Association of Realtors show home sales experienced solid gains annually and home prices reached their highest level since August 2010.

The Census Bureau reported that single-family starts rose to a 539,000 seasonally adjusted annual rate in June, up from a 515,000 rate in May.

While the basic mortgage jobs picture has been flat, there are variations within it. Mortgage banking firms have lost 6,000 jobs, while mortgage brokerages have gained 6,000 jobs.

Since the start of this year, house prices have risen 2.5% through April 30.

During a conference call one analyst suggested that Wells Fargo could originate $170 billion of single-family loans in the third quarter based on its conversion rate of applications-to-closed loans.

CoreLogic and FICO released the FICO Mortgage Score Powered by CoreLogic, a new offering that evaluates the traditional credit data from the national credit data repositories and the supplemental consumer credit data in the CoreLogic CoreScore.

Higher repurchase demands trimmed Wells Fargo’s take from its mortgage banking unit in the second quarter, but net profit gains from residential lending and loan sales rose a stunning 200% from the same period a year ago.

As California goes, so goes the nation? Let’s hope not, at least as to legislation that will make California the first state in the nation to codify provisions of the national mortgage settlement.

Foreclosure activity fell 8% in the second quarter from a year ago due to a decline in bank repossessions, according to RealtyTrac’s midyear foreclosure market report.

Lawmakers and financial market participants sparred Tuesday over the economic and other impacts of the Dodd-Frank law, as well as the resulting Volcker Rule and potential new money market fund rules.

A true bottom has formed under house prices but that assumption could be challenged later this year as the share of distressed sales once again outpaces home sales during the fall and winter months.

Clear Capital said the majority of the top 50 metropolitan markets made positive strides in June as only seven cities saw prices fall on a quarterly basis.

First Tennessee Bank, Memphis, ended June with $2.7 billion of warehouse lending commitments on its books, an all-time high for the bank.