Single-family housing authorizations fall, increasing recession probability

Single-family housing authorizations decreased 0.95% in December, falling for the second consecutive month and down 3.76% year-over-year, according to a recent report by BuildFax. Assuming a number of indicators follow a projected pattern, BuildFax said there is a 43% probability of an economic recession between 2019 and early 2020.
Source: HousingWire Magazine

Fiserv buying First Data in $22 billion deal to create fintech giant

Fiserv, once a tech monolith in the mortgage industry, appears to be finding even greater success elsewhere. Ten years ago, the company partnered with Case-Shiller to provide important housing data. Today, its business model now includes multi-billion dollar deals. Click the headline to read more about Fiserv’s long road.
Source: HousingWire Magazine

Mortgage Tech Rundown: Black Knight, Appraisal Logistics and more

In this week’s Mortgage Tech Rundown, we look at a new product enhancement in Black Knight’s Expedite Close solution, as well as updates from ServiceMac and Appraisal Logistics.
Source: HousingWire Magazine

Real estate, mortgage experts launch network for housing professionals

Business for those working in real estate and mortgage lending is changing, and those who want to learn how to thrive in this new climate need a place to learn and connect. That was the impetus behind the creation of the Industry Syndicate, a media network and community for professionals in the space who want to engage their peers and uncover fresh ideas on how to grow their businesses.
Source: HousingWire Magazine

IBM lays off 310 mortgage servicing staff at Seterus

More than 300 employees working for mortgage servicer Seterus in Durham, North Carolina, will be out of a job come March. The news comes just days after Mr. Cooper announced it had purchased Seterus from IBM in a deal expected to close in the first quarter of the year, and coincides with layoffs in Mr. Cooper’s origination channel.
Source: HousingWire Magazine

European co-living company Quarters raises $300 million for substantial U.S. expansion

Whether it’s because they’re attracted to communal, dormitory-style living or because that’s all they can afford these days, Millennials and other younger generations are increasingly turning to co-living as a housing option. The idea has taken off in recent years, with several different companies beginning to expand on the idea of shared living. And now, one of Europe’s largest co-living developers is planning to make a big push in the U.S.
Source: HousingWire Magazine

Reverse mortgage securities market shrinks

Reverse mortgage volume has taken a nosedive in the past year, a fact that is glaringly evident by the product’s performance in the secondary market. The latest from New View Advisors reveals that outstanding float of HECM-mortgage backed securities has fallen yet again. “At some point, declining float could affect HMBS liquidity and therefore pricing,” said New View Partner Michael McCully.
Source: HousingWire Magazine

Homebuilder confidence stabilizes in January

Held steady by decreasing mortgage rates, homebuilder confidence in the market of new single-family homes stabilized in the month of January, increasing two points to 58, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index. 
Source: HousingWire Magazine

MBA: Mortgage applications push forward

Despite U.S. economic volatility, mortgage applications pushed forward for the week ending Jan. 11, 2019, according to the newest data from the Mortgage Bankers Association’s weekly Mortgage Applications Survey.
Source: HousingWire Magazine

LendingTree finalizes ValuePenguin acquisition

LendingTree announced Tuesday it has completed its acquisition of Value Holding Inc., the parent company of personal finance website ValuePenguin, paying $105 million for the company.
Source: HousingWire Magazine