With the S&P Case Schiller Home Price Index posting record declines for May, the old adage holds: It Ain’t Over Til It’s Over. As for the Twin Cities, the decline was only very slightly better than the composite averages, as you can see below (click to biggify.) As we always point out, these metro area focused numbers may not apply to your own backyard, so for more specific city-by-city data, The 100, published by the Minneapolis Area Association of Realtors, is a great place to start. (more…)
Ideal Mortgage Bankers Ltd. announced it will exit the wholesale lending business. New broker submissions will no longer be accepted after July 31, though all existing commitments will be honored, the Melville-based company said. Ideal noted it will now concentrate on expanding its retail FHA lending operation. (more…)
BusinessObjects Enterprise Professional and Crystal Reports have been rolled out to users of Financial Industry Computer Systems Inc.’s loan origination system, according to an announcement. Ellie Mae has agreed to relocate and consolidate its information technology infrastructure into two SAVVIS Inc. data centers. MDA MindBox Inc. reported last week that a new wholesale lender will utilize ARTOptimize and Power Editor to manage loan product and pricing processes. Interthinx Inc. said today it added advanced name matching to its third-party review mortgage broker background check. (more…)
The Conference Board’s consumer confidence index for
July improved to 51.9 in Tuesday’s report, against expectations
of a slight decline to 50.0. Some economists were expecting such an
improvement following the upward revisions in the Reuters/U of Michigan
sentiment index last week, which bumped up to 61.2 from the preliminary
56.6 level.
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