Technology

Standard & Poor’s estimates that the number of months required to clear shadow inventory has risen to 51 months, 14 more than a year ago.

Observers are warning this is only a temporary break as they expect rates to start rising again.

Fannie Mae’s home loan volume projection is slightly more pessimistic than it previously forecast, but more optimistic than the Mortgage Bankers Association’s recent downward revision.

The first Black Knight Financial Services mortgage monitor report revealed that purchase loans now account for over 50% of total originations.

The giant lender reports higher gain-on-sale margins and servicing income.

Real estate portfolios helped boost net mortgage banking income in the fourth quarter of 2013 when it reduced more headcount to offset declining origination volumes.

The chief economist sees little pickup in purchase mortgage lending.

Revenue exceeded spending by $53 billion last month, compared with a $1.2 billion deficit in December 2012, the Treasury Department said.

The company has an edge because it has been offshoring for more than a decade and also automates a lot of tasks, according to SVP and managing director Jan Sternin.

Aggregate 30- and 15-year conventional prepayment speeds in December were up from the previous month but by less than expected, and Ginnie Mae speeds also were slower than anticipated.