As the U.S. residential housing market recovery continues, and with the peak spring and summer seasons upon us, First American Financial Corp. (FAF) expects modest purchase revenue growth for the full year, driven primarily by price, the company told an audience of investors at the Keefe, Bruyette & Woods’ 2014 Mortgage Finance Conference in New York yesterday.
However, the nation’s second-largest title insurance underwriter told the audience gathered June 3 at the Crowne Plaza Times Square Hotel that with foreclosure activity and inventory declining, refinance activity remains weak — albeit slightly stable, at least for the moment.