First American's CoreLogic acquisition helps boost profits

Title insurer and information services provider First American Corp. posted first-quarter net income of $83.8 million, a 23.6 percent increase from the same quarter last year, thanks in part to a major acquisition.

Revenue was also up 5.5 percent, to $2.11 billion, despite a slight drop in revenue from the company's biggest business, title insurance, the company reported in a Securities and Exchange Commission filing.  more...

Sagging mortgage market weighs on LendingTree

IAC/Interactive Corp. today reported growth in first-quarter earnings, but the media conglomerate felt the weight of a slowing housing and mortgage market on its LendingTree unit.

Overall, IAC saw a 32 percent growth in net income to $62.1 million over the prior year, while revenues climbed 10 percent to $1.6 billion for the quarter.  more...

Colorado seeks better oversight of mortgage brokers

Colorado lawmakers are moving four bills aimed at strengthening oversight and licensing of mortgage brokers through the approval process.

Discrepancies in two bills intended to regulate the conduct of mortgage brokers have been resolved by adopting the less-stringent language in the Senate bill.  more...

House to vote on anti-banking bill

Legislation that would make it harder for commercial firms like Wal-Mart to get into banking has been approved by the House Financial Services Committee and is headed for a House vote.

The Industrial Bank Holding Company Act of 2007, or HR 698, was introduced Jan. 29 by Ohio Republican Paul Gillmor. The bill's 139 co-sponsors include Massachusetts Democrat Barney Frank, the committee's chairman.  more...

Lenders endorse subprime principles

The Mortgage Bankers Association and several large mortgage lenders have agreed to endorse a set of principles for working with troubled borrowers drawn up by the Senate Banking Committee.

The principles include making early contact with holders of adjustable-rate mortgages who face interest-rate resets, and working to modify loan terms where feasible to prevent defaults and foreclosures.  more...

Mortgage rates tame in weekly surveys

Mortgage rates posted mixed results this week as lackluster economic growth and housing kept borrowing costs within a predictable range, Freddie Mac and Bankrate.com reported today in their surveys.

Freddie Mac reported the average rates on both the 30- and 15-year fixed mortgages were unchanged this week, holding at 6.16 percent and 5.87 percent, respectively.  more...

Subtle change in overnight real estate rates

Long-term mortgage interest rates barely budged Wednesday, and the benchmark 10-year Treasury bond yield stayed at 4.64 percent.

The 30-year fixed-rate average edged up to 5.76 percent, and the 15-year fixed rate remained at 5.49 percent. The 1-year adjustable was up at 5.6 percent.

The 30-year Treasury bond yield held at 4.82 percent.

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