Nationstar Mortgage to employ 150 at Cincinnati call center

Subprime lender Nationstar Mortgage LLC says it will add 80 new sales jobs when it opens a fourth centralized call center this month in Cincinnati, Ohio.

Nationstar currently employs more than 2,200 people, including sales staff at call centers in Dallas, Phoenix and Denver. The company, formerly known as Centex Home Equity, expects the Cincinnati call center will employ 150 by 2008.

Headquartered in Dallas, Nationstar offers subprime mortgages and home loans directly to consumers, and through mortgage brokers and bankers.  more...

Bankruptcy attorneys indicted on mortgage fraud charges

A crackdown on bankruptcy fraud has resulted in federal charges against 12 people in the Chicago area, several for their alleged role in mortgage fraud schemes in which homeowners facing foreclosure were convinced to sign over title of their homes and declare bankruptcy.

The cases are part of Operation Truth or Consequences, in which U.S. Justice Department officials announced bankruptcy fraud-related charges against 78 defendants in three dozen judicial districts nationwide.  more...

MLSs move to secure property databases

More of the nation's multiple listing services are taking action to try to prevent security breaches in their property databases by installing authentication systems for members.

Clareity Security announced today that it has signed 11 new contracts with MLSs in recent months to install its SafeMLS product, which provides token-generated, one-time passwords instead of traditional username and password system.  more...

Mortgage rates steady this week

Mortgage rates barely budged this week, as markets prepare for the Federal Reserve's next move and inflation measures were mixed, according to surveys conducted by Freddie Mac and Bankrate.com.

In Freddie Mac's survey, the 30-year fixed-rate mortgage dipped to an average 6.36 percent, down from 6.37 percent last week, while the 15-year fixed-rate mortgage held steady at 6.06 percent.

Points, which are fees charged by lenders for loan processing expressed as a percent of the loan, averaged 0.5 on the 30- and 15-year loans.

The five-year Treasury-indexed hybrid adju  more...

Economy to maintain slow growth

The U.S. leading index, a key barometer of future economic conditions, edged up 0.1 percent in September, The Conference Board announced today.

The leading index now stands at 137.7. Based on revised data, this index decreased 0.2 percent in August and 0.3 percent in July.

Five of the 10 indicators that make up the leading index increased in September: consumer expectations, money supply, stock prices, jobless claims, and manufacturers' new orders for nondefense capital goods.  more...

California real estate forecast calls for price decline in '07

The median home price in California is expected to drop 2 percent in 2007 compared to 2006, according to a forecast released this week by the California Association of Realtors trade group.

The median price of a home in the state is forecast at $561,000 this year and $550,000 in 2007.  more...

Buyer's market escalates in Central Ohio

Central Ohio home sales dropped 11.8 percent in September from a year ago, as a plethora of for-sale listings continued to eat away at prices, the Columbus Board of Realtors reported.

According to statistics, 2,134 homes were sold last month, down from 2,420 a year earlier. Year to date, Central Ohio has recorded 20,587 sales, which is 3 percent below the same period last year.

The average price of a home sold in September sank to $172,476, down 1.5 percent from $175,162 a year ago.  more...

Overnight real estate rates bumped up

Long-term mortgage interest rates were higher Wednesday, and the benchmark 10-year Treasury bond yield dipped to 4.76 percent.

The 30-year fixed-rate average rose to 5.92 percent, and the 15-year fixed rate gained to 5.62 percent. The 1-year adjustable was unchanged at 5.33 percent.

The 30-year Treasury bond yield decreased to 4.88 percent.

Rates are current as of 7:15 p.m. Eastern Standard Time.

Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states.  more...

Ultrawealthy come in all shapes and sizes

MIAMI -- Some billionaires fly low in ripped jeans and graphic tees. Others fly high with flashy suits and international lifestyles, traveling with an elite entourage of carefully chosen associates.

The group is diverse, unpredictable and rapidly growing. Some estimates put the number of millionaires in the United States today at 1 in 100 people.

The distinctions are critical when working with these wealthy individuals to broker multimillion-dollar real estate deals.  more...