Tuesday, June 30, 2015

August and everything after

Significant regulatory changes such as the upcoming TRID rollout serve as compelling reminders that today’s mortgage default servicing industry requires quality technology that is both well-managed and well-maintained. To optimize efficacy, every link in the servicing chain needs to have a strong technological foundation: As a community, we have to work together to commit to a coordinated and consistent approach.

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Balancing risk mitigation with profit

Significant regulatory changes such as the upcoming TRID rollout serve as compelling reminders that today’s mortgage default servicing industry requires quality technology that is both well-managed and well-maintained. To optimize efficacy, every link in the servicing chain needs to have a strong technological foundation: As a community, we have to work together to commit to a coordinated and consistent approach.

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Smoking gun?

The Treasury document also contradicts statements made a number of times by Treasury officials about the capital ratios that Fannie Mae and Freddie Mac would have to maintain. The document claims the percent is 3% to 4%, while statements since then have claimed 10%.

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How servicers can change the conversation with consumers

“Bad letters damage the brand,” Katherine Porter says. “There’s a contagion effect of this. I think bad letters are unjust. They disproportionately harm the borrowers we need to help the most.”

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Why SOC 2 audits matter, now more than ever

With the huge adoption of managed IT services (better known as SaaS or cloud services), an SOC 2 audit provides a definitive statement of security assurance. This warrant is exactly the kind of information that financial institutions need when evaluating managed service providers.

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Company spotlight: Walz and LenderLive

”Together, we provide enhanced mortgage technology, compliance capabilities, critical borrower communication and fulfillment solutions and data-enriched analytics that greatly reduce companies’ compliance and operational burdens. It is exceptional how well the companies complement each other,” said Jonathan Kunkle, president of LenderLive’s GuardianDocs division.

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Veros: Connecting to the FHA

At the turn of the market, while other valuation technology companies were struggling to keep the doors open, Veros had diversified its focus to include the development of valuation management software services, as well as two landmark industry innovations.

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The awful truth about TRID

The CFPB left the grace period open-ended and most in the industry interpreted that to mean that it will last throughout the rest of 2015, at least. Unfortunately, as welcome as that grace period is, TRID remains a costly and complicated fix that has enormous implications for the whole industry.

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Ellie Mae adds Peter Hirsch as executive vice president

Ellie Mae, a provider of on-demand software solutions and services for the residential mortgage industry, named Peter Hirsch the company’s executive vice president of technology and operations.

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CFPB Watch: Congress fights for control

“The CFPB undoubtedly remains the single most powerful and least accountable Federal agency in all of Washington,” Jeb Hensarling said. “When it comes to the credit cards, auto loans and mortgages of hardworking taxpayers, the CFPB has unbridled, discretionary power not only to make those less available and more expensive, but to absolutely take them away.”

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DocMagic names Edward Komski national sales manager

In this role, Komski will be responsible for introducing DocMagic’s entire suite of software solutions to large, enterprise-level lending organizations.

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The history of g-fees

The average level of guarantee fees charged has increased since 2009. However, as the study shows, the changes will result in little or no change to borrowers. This chart gives a comprehensive history of g-fees since 2008.

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Seattle’s ‘Up’ house now facing demolition

A truly unique Seattle-area home that boasts neighbors like L.A. Fitness and Trader Joe’s is on the verge of being torn down, a sad end to a tale that many likened to a real-life ‘Up.’

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Treasury sweep of Fannie, Freddie shareholder profits "costly for housing"

Yale Law School lecturer Logan Beirne examined a lawsuit recently filed by three Fannie Mae and Freddie Mac investors accusing the federal government of exceeding its authority as a conservator, and in a National Law Review article, he supports their contention.

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USDA reportedly raising guarantee fees for 0% down mortgages

The price that borrowers pay for a 0% down payment loan from the U.S. Department of Agriculture’s Rural Housing Service is reportedly set to rise later this year. Click through to learn more.

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5 tips for new renters this summer

There are a few things that many renters don’t realize they’re missing until after it’s too late. Here are five rental reminders before the next big move.

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Ellie Mae publishes comprehensive TILA-RESPA guide

Ellie Mae is publishing a free, 16-page RESPA-TILA FAQ guide to help lenders understand and comply with the Integrated Disclosure Rule, currently scheduled to go into effect Oct. 3.

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S&P Case-Shiller: Home price gains slowed in April

Home prices in April continued their rise across the country over the last 12 months, but the pace of the gains slowed, according to the S&P/Case-Shiller Home Price Indices. Is there a problem?

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Black Knight updates LOS for TRID

TRID is coming, and as a result, Black Knight Financial Services released the latest version of Empower, its loan origination system for retail and wholesale lending to be ready for the Consumer Financial Protection Bureau’s upcoming implementation date.

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Citi fails National Mortgage Settlement loan modification metric

Citi failed one of the new metrics used by the National Mortgage Settlement and the Monitoring Committee regarding loan modifications. What about the other big banks?

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Equifax: Mortgage originations soar 75% from last year

Mortgage originations are booming, increasing nearly 75% from last year thanks to first mortgages, which grew 79.9% versus the first quarter of 2014 to $430 billion.

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Plutos Sama acquires The Fisher Law Group

Plutos Sama completed the acquisition of The Fisher Law Group, a default law firm practicing in Maryland and the District of Columbia, resulting in an increase of projected revenue from $54 million to $64 million.

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Monday, June 29, 2015

Realtor.com: Here are the 20 hottest markets this summer

He’s been consistently more optimistic and consistently right on sales. Realtor.com’s chief economist Jonathan Smoke explains why it’s a seller’s market.

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Who are the homebuying Millennials?

The average age of a Millennial homebuyer is 28. After a recent survey from more than 5,400 Millennials, Endeavor America Loan Services found they are outgrowing their usual stereotype.

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SIGTARP snares seven schemers for massive mortgage fraud

Seven California residents now face federal charges for their roles in an alleged mortgage fraud scheme that defrauded lenders of more than $3 million. According to court documents, the defendants conspired to defraud mortgage lending companies and financial institutions by making false statements on loan applications and short-sale applications.

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The home sale ‘murder disclosure’ rule: Is it necessary?

One thing home sellers have to disclose to buyers is whether a murder happened in the home. But why, and is it necessary?

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High-risk FHA loans push mortgage risk index up in May

The composite National Mortgage Risk Index for Agency purchase loans stood at 12.33% in May, up 0.4 percentage point from the average for the prior three months and up 0.7 percentage point from a year earlier. Worried yet?

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HouseCanary: Shifting demographics reshaping housing, mortgage finance

A new study from HouseCanary shows how demographics shifts are reshaping demand for residential real estate. It’s not all bad news but there are challenges ahead. Want to know more?

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Hope Now, RealtyTrac to co-sponsor regional housing roundtables

The HOPE NOW Alliance and RealtyTrac have announced a partnership for the remainder of 2015 to co-sponsor regional housing roundtables in selected U.S. cities to bring together the mortgage industry, community leaders and nonprofits to work on housing solutions.

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Pending home sales continue momentum in May

Pending home sales rose less than expected in May but are still at the highest level since 2006. Realtors are pleased and NAR is optimistic.

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Black Knight: Home prices rise 1% in April from March

U.S. home prices were up 1% for the month, rising 4.9% on a year-over- year basis, according to Black Knight’s latest Home Price Index report, based on April 2015 residential real estate transactions. Want to know more?

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Sunday, June 28, 2015

Round 2: HW Fast50™ is back, and even better

And now that the second year of the program is being officially launched today, we expect even greater results. Because there’s no way you lost market share or dialed back on your R&D, is there?

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Monday Morning Cup of Coffee: Debate over disparate impact continues

It’s a short week with the Independence Day holiday, but it’s not short on news. The outlook for agency and non-agency MBS isn’t clear, USDA is raising the cost of guarantees on certain mortgages, and a slew of key housing metrics lie ahead. Want to know more?

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Saturday, June 27, 2015

Prospect Mortgage acquires assets of CapWest Mortgage

Prospect Mortgage announced it is acquiring certain assets of CapWest Mortgage, a call center operation focusing on consumer direct sources of business.

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Friday, June 26, 2015

Realtor.com’s top economist welcomes Millennial homebuyers

Long thought to be a generation lost to homeownership – or at least, not near as enthused or enamored of homeownership – the young generation is starting to warm to the idea of a place of their own.

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HomeBridge hires VP for affinity mortgage platform launch

HomeBridge Financial Services hired industry veteran Joseph Cilento as vice president to lead its new HomeBridge Affinity Mortgage Platform, which is designed to provide community banks and credit unions with a way to originate residential mortgages.

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Here’s how gay marriage will improve housing

Today’s announcement by the Supreme Court making gay marriage a right throughout the land will be heralded, derided and debated for months and years, but there’s one thing that’s inarguable – gay couples have a positive impact on housing. Want to know more?

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This MBA chart shows existing home turnover

The latest charts in the Mortgage Bankers Association’s series puts existing-home sales into historical context. While the graph shows that housing markets are recovering, they still have a ways to go.

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Ex-UFC champ Chuck Liddell wins $2M in real estate lawsuit

Good news for former UFC champ Chuck Liddell. A San Luis Obispo County jury awarded him nearly $2 million against an escrow company he says helped developer Kelly Gearhart defraud him.

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Digging deeper: May new home sales increase has weak foundation

Sales of new single-family houses in May 2015 came in earlier this week at a seasonally adjusted annual rate of 546,000, which is up 2.2% from April, and on an annual basis, were up a staggering 19.5%. Sounds like a sign of strength, right? Not so much, when you peel back the layers. Want to know more?

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4 reasons why now is a good time to buy a home

Everyone has their own specific set of factors that that can motivate them to jump into the housing market. These four factors could convince you why you should buy now.

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Hurdles remain for disparate impact claims in housing despite SCOTUS ruling

On Thursday the Supreme Court ruled in a contentious and qualified opinion that the legal doctrine of “disparate impact” is cognizable under the Fair Housing Act, but a closer look at the ruling shows it may not be as perilous for the mortgage industry as initially thought. Read on.

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Thursday, June 25, 2015

MERS victorious in Georgia federal and state courts

MERSCORP Holdings, Inc. won again in two separate courtrooms in Georgia recently, continuing its string of winning legal challenges to its ability to assign a mortgage.

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Millennials getting more positive about homebuying

Millennials have become more positive when it comes to taking the plunge into home ownership and are primed to gain market share in the second half of the year. Are things changing?

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OCC: Mortgage performance better in 1Q15

The performance of first-lien mortgages serviced by eight national banks improved during the first quarter of 2015, according to the Office of the Comptroller of the Currency’s quarterly report on mortgage performance. Here’s what happened.

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Impac boosts lending capabilities with $30M loan from Macquarie Group

Impac Mortgage Holdings, which is already having itself quite a year, is set to grow its lending capability even more, thanks for a capital infusion from the Macquarie Group. Here are the details.

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CFPB employees: Workplace discrimination getting worse, leadership absent

Witnesses who work at the CFPB told Congress today that discrimination and retaliation at their workplace has actually gotten worse since initial reports from April 2014, and that there’s a failure of leadership all around. Want to know more?

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Senate Appropriations Committee approves $55B housing, transportation bill

The Senate Committee on Appropriations today approved the FY2016 Transportation, Housing and Urban Development, and Related Agencies Appropriations Bill, making the $55.65 billion measure available for consideration by the Senate. It’s more than last year, but less than the White House wanted.

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Hatteras Financial acquires Pingora Asset Management

Hatteras Financial, a real estate investment trust, announced the acquisition of Pingora Asset Management and Pingora Loan Servicing, a specialized asset manager focused on investing in new production performing mortgage servicing rights and servicing residential mortgage loans.

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Trending Thursday: Busy week on Capitol Hill with CFPB, SCOTUS making appearances

From the Consumer Financial Protection Bureau to the U.S. Supreme Court, the government announced several new game-changing initiatives for housing finance. Not all were welcomed with open arms.

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CFPB publishes 8,000 complaints against banks, lenders, financial institutions

Nearly 8,000 consumers’ accounts of problems they are facing with financial companies are now live in a public-facing consumer complaint database. However, before a complaint goes live, lenders do have options.

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Mortgage rates tick up slightly

Average fixed mortgage rates are little changed from the previous week amid reports of the U.S. housing market strengthening, according to Freddie Mac.

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Supreme Court: Fair Housing Act claims can use “disparate impact”

In a blow to the housing and mortgage finance industry but a victory for fair housing advocates, the Supreme Court ruled in a contentious and qualified opinion that the legal doctrine of “disparate impact” is cognizable under the Fair Housing Act. Want to know more?

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MERS victorious in Georgia federal and state courts

MERSCORP Holdings, Inc. won again in two separate courtrooms in Georgia recently, continuing its string of winning legal challenges to its ability to assign a mortgage.

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Millennials getting more positive about homebuying

Millennials have become more positive when it comes to taking the plunge into home ownership and are primed to gain market share in the second half of the year. Are things changing?

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OCC: Mortgage performance better in 1Q15

The performance of first-lien mortgages serviced by eight national banks improved during the first quarter of 2015, according to the Office of the Comptroller of the Currency’s quarterly report on mortgage performance. Here’s what happened.

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Impac boosts lending capabilities with $30M loan from Macquarie Group

Impac Mortgage Holdings, which is already having itself quite a year, is set to grow its lending capability even more, thanks for a capital infusion from the Macquarie Group. Here are the details.

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CFPB employees: Workplace discrimination getting worse, leadership absent

Witnesses who work at the CFPB told Congress today that discrimination and retaliation at their workplace has actually gotten worse since initial reports from April 2014, and that there’s a failure of leadership all around. Want to know more?

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Senate Appropriations Committee approves $55B housing, transportation bill

The Senate Committee on Appropriations today approved the FY2016 Transportation, Housing and Urban Development, and Related Agencies Appropriations Bill, making the $55.65 billion measure available for consideration by the Senate. It’s more than last year, but less than the White House wanted.

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Hatteras Financial acquires Pingora Asset Management

Hatteras Financial, a real estate investment trust, announced the acquisition of Pingora Asset Management and Pingora Loan Servicing, a specialized asset manager focused on investing in new production performing mortgage servicing rights and servicing residential mortgage loans.

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Trending Thursday: Busy week on Capitol Hill with CFPB, SCOTUS making appearances

From the Consumer Financial Protection Bureau to the U.S. Supreme Court, the government announced several new game-changing initiatives for housing finance. Not all were welcomed with open arms.

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CFPB publishes 8,000 complaints against banks, lenders, financial institutions

Nearly 8,000 consumers’ accounts of problems they are facing with financial companies are now live in a public-facing consumer complaint database. However, before a complaint goes live, lenders do have options.

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Mortgage rates tick up slightly

Average fixed mortgage rates are little changed from the previous week amid reports of the U.S. housing market strengthening, according to Freddie Mac.

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Supreme Court: Fair Housing Act claims can use “disparate impact”

In a blow to the housing and mortgage finance industry but a victory for fair housing advocates, the Supreme Court ruled in a contentious and qualified opinion that the legal doctrine of “disparate impact” is cognizable under the Fair Housing Act. Want to know more?

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Wednesday, June 24, 2015

CoreLogic chief economist: Here's how new policies can help homeownership

The homeownership rate has been steadily declining, Frank Nothaft, chief economist for CoreLogic, said in an interview with HousingWire. So what can the industry do about this?

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Here are the 10 most affordable housing markets for low down payments

A new study from RealtyTrac and Down Payment Resource shows the top 10 and bottom 10 markets in the U.S. in terms of affordability and accessibility for low down payment borrowers. Which markets made the list?

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These 4 charts prove the strength of Dallas housing

The Dallas-Fort Worth housing market and economy are not only outpacing the rest of the state, but they are also outpacing the national average. Here are four charts that prove it.

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Fitch now has “positive” outlook for Ocwen’s servicer ratings

Mere days after Standard & Poor’s cut the servicer rankings of Ocwen Loan Servicing from “average” to “below average,“ citing a “deficient” internal controls environment that has not kept pace with the company’s growth, the Ocwen Financial ratings roller-coaster continues.

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Whistleblowers to testify on alleged discrimination at CFPB

More than a year after House hearings revealed a culture of alleged discrimination and retaliation at the CFPB, two new witnesses are coming forward charging that rather than getting better, discrimination at the bureau is getting worse.

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Freddie Mac’s second actual loss STACR deal prices wide

After market demand caused Freddie Mac to increase the size of its first Structured Agency Credit Risk series offering featuring actual loss positions, Freddie Mac announced the pricing of its second actual loss STACR deal, with STACR Series 2015-DNA2 pricing wide compared to STACR Series 2015-DNA1.

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California housing market slows considerably

California’s massive housing market is slowing down in almost every way imaginable. “With the exception of a few counties, price increases have slowed considerably,” said Madeline Schnapp, director of economic research for PropertyRadar.

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Homeownership rate at 10-year low

The results are in, and the national homeownership rate continues its downward spiral. The groups to look to for answers: Generation X and Millennials.

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More than 3,000 financial institutions apply for .BANK domain names

As first reported by HousingWire in 2013, high-level domains, such as .REALTOR, are now available. One of the new high-level domains, .BANK, is engendering significant interest, according to the Financial Services Roundtable, which is a lead supporter, investor and founder of the .BANK domain.

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After one week, missing Realtor's trail goes cold

It’s a strange case involving a Realtor who went missing showing a property, a pair of clients who may have had a grudge, a mysterious white SUV and a brother doing all he can to find his missing sibling.

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Dispelling the myth of the affordable housing bogeyman

The scariest thing you’ll see this summer is not a genetically modified dinosaur noshing on nameless tourists in whatever iteration of Jurassic Park we’re up to, but rather the Obama administration’s forthcoming final rule to affirmatively further fair housing. Well, that’s what the rule’s opponents would like you to believe.

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CFPB changes TRID effective date — again

Another week, another change to the effective date of the TILA-RESPA Integrated Disclosure rule comes from the CFPB. Here’s the latest news as of today.

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Realtor.com, Airbnb partner to let homebuyers test-drive the neighborhood

Why was this not always a thing? Buyers can rent in a neighborhood to see if they like it before they commit to the mortgage. Good idea or great idea? Click the headline to read all about it, and see an example of the strategy.

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MBA, PwC white paper tracks powerful impact of nonbank servicing

The Mortgage Bankers Association and PricewaterhouseCoopers today announced the release of The Changing Dynamics of the Mortgage Servicing Landscape, a white paper looking at how nonbank servicing changed the industry, and where it’s heading tomorrow.

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Refi, purchase applications both rise in MBA survey

Mortgage applications increased 1.6% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending June 19, 2015. Want to know more?

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Black Knight: National delinquency rate up 4% from April

While the national delinquency rate rose 4% from April to 4.96%, it’s still down nearly 12% from last year. Also, aside from the last two months, the national delinquency rate is still the lowest it’s been since the summer of 2007.

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CFPB lists 10 compliance violation trends

After a year adjusting to new CFPB rules, some in the mortgage industry are still not up to code. Here are the mortgage violation trends the bureau found.

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U.S. Conference of Mayors: Don’t sell non-performing loans to Wall Street

The U.S. Conference of Mayors is joining a growing chorus calling on the U.S. Department of Housing and Urban Development, Fannie Mae and Freddie Mac to stop selling pools of non-performing loans to “Wall Street speculators,” and requesting that the pools be sold instead to non-profits interested in keeping homeowners in their homes.

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Flagstar names Leonard Israel president of mortgage banking

Flagstar Bancorp announced the hiring of Leonard Israel to serve as the bank’s president of mortgage banking. In this position, Israel will report to Flagstar President and CEO Alessandro DiNello and be responsible for all aspects of Flagstar’s mortgage originations business.

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Freddie agrees with Fannie: The economy is improving

A new report from Freddie Mac suggests that improving household balance sheets will make it more enticing for Americans to take on mortgage debt in 2015, echoing the sentiment of a report from Fannie Mae.

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The three-card Monte accounting of Fannie, Freddie conservatorship

A forensic look at the complex legerdemain that was federal government putting the GSEs in conservatorship reveals some head-scratching accounting and some three-card Monte style mathematics.

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Tuesday, June 23, 2015

Can you translate this emoji letter to millennial borrowers?

Emojis originally started as a simple way to express whether you are happy or sad but have evolved into a way to communicate your every single thought, desire and craving. But will they work for mortgage lending? Here’s a sample of a letter to a potential borrower. Can you translate it?

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Fannie Mae: Economic rebound on the horizon

Recent indicators suggest that the U.S. is experiencing a moderate rebound in economic growth in the current quarter following a temporary drop in activity in the first quarter. What does it mean for you?

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Prominent Senate Democrats call for investigation into "discriminatory" foreclosure neglect

The complaint cites a 2014 report from the National Fair Housing Alliance that found that bank-owned properties in communities of color were much more likely to have a higher number of maintenance and marketing deficiencies, leading to “destabilizing outcomes for families and neighborhoods.”

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FHFA: Home prices slightly rise in April

Home prices slightly increased in April, inching up 0.3% from March, after reporting a rise in March.

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Mortgage Master President: 3 tips to reach younger homeowners

Most mortgage lenders built their businesses providing mortgages to Baby Boomers, but are they prepared for the new, younger and more tech-savvy generation?

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Fannie Mae eliminates Desktop Underwriter fee

“We want to continue to provide value to our lenders and we don’t want technology fees to get in the way of lenders using our technology to its full potential,“ said Andrew Bon Salle, Executive Vice President, Single-Family Business at Fannie Mae.

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Three American cities score high on global luxury list

What do San Francisco, Los Angeles and Miami have in common besides beaches and tourist attractions? Real estate. All three cities are all on the list of the top ten luxury real estate markets in the world released by Knight Frank.

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May new home sales gain 2.2% from April

Sales of new single-family houses in May 2015 were at a seasonally adjusted annual rate of 546,000, which is up 2.2% from April, but the big news is in price gains. Read on, reader.

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Housing advocates: REO-to-rental boom is bad for California renters, buyers

A new report by the affordable housing nonprofit group California Reinvestment Coalition says the practice of investors buying and renting foreclosed homes hurts neighborhoods throughout California. Are they right?

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Advanced e-closing: supporting CFPB final rule and more

Hybrid e-closings begin with electronic disclosure document and appraisal delivery, while also offering additional document up load, completion and acknowledgement capabilities.

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Monday, June 22, 2015

June existing-home sales expected to rise 11% year-over-year

Coming on the heels of positive existing-home sales for May, existing-home sales in June are expected to rise sharply over last year’s total, according to Auction.com’s June Real Estate Nowcast. Is this a healthy summer buying season?

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Tyler Perry lists Atlanta home for $25 million

The director of “If Loving You is Wrong” and “The Haves and the Have Nots” is entering the real estate market and listed his home in Atlanta for $25 million.

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HUD senior official leaving to join Hillary Clinton campaign?

HUD Secretary Juli├ín Castro said Monday that Betsaida Alcantara, HUD’s assistant secretary for public affairs and one of Castro’s senior advisors, is set to leave her position at the end of July. Castro did not disclose Alcantara’s next move, but a Buzzfeed report said that Alcantara is leaving HUD to serve as the director of media planning for Clinton’s campaign.

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MBA: Still optimistic about growth for 2015

The economy in general and housing in particular have had a struggle getting momentum in 2015 so far, but that doesn’t deter the optimism analysts at the Mortgage Bankers Association feel for the rest of 2015.

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Carrington Mortgage Services hires Tom O'Leary as regional sales manager

Under O’Leary’s direction, Carrington’s wholesale operation will remain focused on continued growth, providing expanded product offerings and producing faster turn times to effectively meet market demands.

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Southern California was not ready for millennials

Back in 1988, The Times asked the question: What will Southern California look like in the future? Now looking at what really happened, there’s a variable the city planners didn’t expect: Millennials.

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Marketers are dissecting Millennials, and we don’t like it

Everyone, not just the housing industry, is fixated on defining every single minute detail of what a millennial wants. Why are you so obsessed with us?

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Concerns lurk beneath the good news in May existing-home sales

Existing-home sales increased in May to their highest pace in nearly six years, according to the National Association of Realtors. But what’s really behind the numbers and what do they mean?

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First-time buyers boost existing-home sales 5.1% in May

Welcome news for Realtors and the housing and mortgage finance industry: existing-home sales gained 5.1% in May and 9.2% annually. The biggest gains came in the Northeast. Want to know more?

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Man uses false documents, straw buyers in 35 fraudulent mortgage transactions

A Virginia man pled guilty to a federal conspiracy charge stemming from fraudulent real estate transactions he engaged in using strawmen buyers in 35 mortgage transactions. Here’s what happened.

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Housing disparate impact decision still pending in Supreme Court

It’s going to be Thursday. Or Maybe Monday. Or at last gasp on Tuesday. But the decision on disparate impact use in housing will come soon, and HousingWire will be there. Here’s the latest.

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Job situation improves in nearly every state

The job situation improved in almost every state over the last three months, according to a new chart from the Federal Reserve Bank of Philadelphia. But, as seen here, not all states are created equal.

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Fed: May economic activity shows signs of slowdown

Early reports for the second quarter paint a mixed picture. According to the Chicago Federal Reserve, there was net improvement in May’s run of economic data but not much, at least based on the national activity index. A bad sign for housing and mortgage activity in the second quarter?

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Monday Morning Cup of Coffee: CFPB under the gun again

Today could be a big legal day for housing, as the Supreme Court will determine whether housing policy is subject to the onerous burdens of “disparate impact.” Plus, housing metrics for the week, the mixed outlook on what the Fed will do with rates, more investigations of the CFPB and a whole lot more you won’t want to miss.

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Friday, June 19, 2015

Wingspan closing Florida office, laying off 150 employees

When Wingspan Portfolio Advisors purchased JPMorgan Chase’s mortgage servicing operations center in Melbourne, Florida, in February 2013, the company gave 400 Chase employees who staffed the Melbourne office the opportunity to continue their employment. Now the company plans to close the Melbourne office and lay off the remaining 150 employees.

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CUNA discovers discrepancy in CFPB’s TRID rule, seeks answers

The Credit Union National Association asked the Consumer Financial Protection Bureau to clarify a discrepancy and to exempt credit unions that make five or fewer mortgages in a calendar year from the Know Before You Owe rule. Want to know more?

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Zillow Group selling ActiveRain, Kwkly to Ben Kinney

Big news in the real estate world. Zillow Group is set to sell ActiveRain, the social networking, blogging, and training platform for the real estate industry, to the Ben Kinney family of companies. Kinney is also acquiring Kwkly, a text-to-lead service that helps connect buyers with agents from Zillow in the deal.

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MBA Stevens: We are in the middle of a housing crisis

We are currently in the middle of a housing crisis. These are the bold words Mortgage Bankers Association President and CEO David Stevens wrote in a recent blog post on LinkedIn.

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Ellie Mae expected to deliver 40% revenue growth in 2015

It’s halfway through the year and Ellie Mae is still living up to the positive forecast that was given to it. After recent meetings with Ellie Mae, FBR Capital Markets & Co. said it walked away more confident in the company’s ability to deliver 40% plus revenue growth in 2015.

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CFPB launches investigation into Bankrate mortgage rate tracker

The CFPB is requesting that the publishing company produce “certain documents” and answer questions relating to the company’s quality control process for its mortgage rate tables. The inquiry could serve as a wakeup call as many websites in the mortgage space offer rate trackers as a service. Click the headline for full coverage.

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Subprime mortgages didn’t cause the financial crisis

Journalists pinned subprime lenders as the villains behind the financial crisis, along with irresponsible borrowers who were their customers. They were wrong.

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S&P cuts Ocwen’s servicer rankings to “below average”

Citing a “deficient” internal controls environment that has not kept pace with the company’s growth, Standard & Poor’s downgraded the servicer rankings of Ocwen Loan Servicing from “average” to “below average.” Click through to read more.

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HUD wants to push urban dysfunction into the suburbs

At the heart of the Texas lawsuit is something more sinister – it’s the concept and the demand that public housing be located in successful suburbs, rather than in lower-income neighborhoods closer to public transportation and affordable amenities.

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Aggregate market value of housing nearing 4Q06 peak

The aggregate market value of owner-occupied housing hit its high point in the last part of 2006, reaching a high-water mark of $22.5 trillion.

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The foreclosure crisis would have happened even without risky mortgages

The mortgage industry still lacks adequate tools to recognize bubble behavior, and even less the power to stop it from bursting. Furthermore, and more importantly, the latest research shows regulations do nothing to prevent this sort of housing phenomenon. Are we doomed to repeat history?

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Charts highlight the chasm between the rich and everyone else

While the top, minuscule percentage of taxpayers is recovering well since the recession, this is not what is happening for everyone else according to latest data from the IRS on U.S. households.

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Will homebuilding ever return to the highs of 2006?

While Capital Economics is forecasting housing starts to surge by almost 40% over the next few years, reaching 1.5 million by the end of 2017, they’re not so sure the industry will see a return to pre-recession 2006 levels. Think they’re right?

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Altisource Residential CEO Ashish Pandey stepping down

Ashish Pandey, who has served as the chief executive officer of Altisource Residential Corporation since the company was spun off from Ocwen Financial in 2012, is stepping down. According to a release from the company, Pandey is leaving Altisource Residential to “pursue personal interests” in India.

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Fannie Mae moving in Dallas?

Fannie Mae is looking to review its real estate options in North Texas as its operations shift to reflect a changing industry with fewer delinquencies.

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10 tips for first-time homebuyers

Homebuyers are caught in a storm of low inventory, high demand and tight credit availability right now. In these market conditions, even simple tactics can make the difference between owning a home or not. For starters, here are 10 tips.

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Wells Fargo names Hope Hardison chief administrative officer

Wells Fargo will soon have a new chief administrative officer. Pat Callahan, who currently serves as chief administrative officer, told the bank that she intends to retire later this year, after a 38-year career with the company.

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Sen. Rand Paul’s radical tax bill would eliminate all deductions, except mortgages

No stranger to offering proposals that might be considered left of center (or right of center, as it were), Sen. Rand Paul, R-KY, authored a commentary in today’s Wall Street Journal, in which he writes that the entire U.S. tax code needs to be abolished.

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Senior home equity nears $4 trillion as home values rise

Home equity, and mortgage debt of homeowners 62 and older, has reached 189.67, its highest level since Q1 2007, according to the National Reverse Mortgage Lending Association/RiskSpan Reverse Mortgage Market Index.

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Trending Thursday: Conservatorship will never die

People upset with Fannie and Freddie and the FHFA? Check. Counterintuitive survey on financial outlook for minorities? Check. Congressfolks saying the regulators are dropping the ball on diversity? Big check. Read on, traveler.

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Mortgage Bankers Association adds 21 new members in April and May

The Mortgage Bankers Association announced that it welcomed 21 new members into its ranks in the months of April and May, bringing its total membership to more than 2,200 companies.

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Redfin: Homes sold in May at near 2013 pace as price growth slowed

Homes sold at their fastest pace in nearly two years, with the typical property on the market only 28 days in May, down from 32 in April, according to the latest from Redfin. Good news to you?

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MBA, NAR, industry trade groups weigh in on TRID delay

The industry pleaded for a delay, and they got a delay. The industry quickly welcomed the news, but that doesn’t mean they are fully satisfied.

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TRID, discrimination and accountability: The appalling CFPB double standard

Let me say what a whole lot of people are thinking: This is emblematic of the ongoing hypocrisy and double standards for which the CFPB is notorious, and why change is needed.

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Houses that look like Game of Thrones characters

If you’re still reeling from the finale to season 5 (and the letdown that was the overall season 5), try this palate cleaner – homes that look like Game of Thrones characters.

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Discover shuttering home loan business

Discover Financial Services is closing its mortgage origination business, Discover Home Loans, after just three years, saying that the business is not projected to meet the company’s financial expectations.

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Wells Fargo: Most potential homebuyers don’t understand mortgages

Homeownership has always been, and continues to be, part of the America dream. The problem is that no one truly understands how to get there. This survey shows where the lines are getting crossed.

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Former NFL player profits from nonbank boom

After finishing his football career with the Tampa Bay Buccaneers, Casey Crawford found a new field to conquer: mortgage lending. And the best part is, he’s succeeding at it.

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Housing advocates: FHFA won’t reduce principal, offers discounted NPLs

Two liberal advocacy groups have published a provocative study accusing the Department of Housing & Urban Development and the Federal Housing Finance Agency of helping Wall Street at the expense of low-income communities by selling non-performing loans to investors. Are they right?

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More homeowners are paying their mortgages on time

Not only are consumer credit default rates below pre-crisis levels and trending down, but the first mortgage default rate dropped to a historical low. And according to David Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices, “The economy looks good.”

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Moody’s: Ocwen’s servicer ratings no longer on verge of downgrade

Perhaps the shaky ground on which Ocwen Financial has subsisted on for the last few months is finally beginning to stabilize, because, for the second time this month, Moody’s Investors Service issued a positive report on the beleaguered nonbank.

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Accenture updates software for TRID

Accenture released a new version of its Accenture Mortgage Cadence Enterprise Lending Center platform to fall in line with the upcoming TILA-RESPA Integrated Disclosure Rule.

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Freddie Mac offering second actual loss STACR deal

After market demand caused Freddie Mac to increase the size of its first Structured Agency Credit Risk series offering featuring actual loss positions, Freddie Mac is now offering a new actual loss STACR deal.

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Group launches homeownership program to boost modest-income buyers

The National Community Reinvestment Coalition, a nonprofit affordable housing organization, announced Tuesday the launch of GROWTH, an initiative designed to create new pathways to homeownership for low- and moderate-income families. Will it work?

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MBA: Commercial mortgage debt increases to $2.68 trillion

The commercial/multifamily mortgage market witnessed a strong start to the year as all four major investor groups increased their holdings.

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Housing starts drop but permits see big surge in May

Housing starts fell in May after last month’s double-digit gain, but at the same time there was a big push in permits for future construction — a surge taking permits to near the highest they’ve been since late 2007. Here’s what happened.

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CoreLogic: Underwater mortgage share down to 10.2% in 1Q15

New analysis shows 254,000 properties regained equity in the first quarter of 2015, bringing the total number of mortgaged residential properties with equity at the end of Q1 2015 to approximately 44.9 million, or 90% of all mortgaged properties.

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Stonegate introduces third-party mortgage origination portal

Stonegate Mortgage introduced its new third-party mortgage origination portal called TPO Connect to offer third-party originators greater access and control over their loans.

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InHouse Connexions launches commercial valuation portal

InHouse Connexions launched a new platform for commercial lenders and appraisers, providing a centralized platform for stakeholders in the commercial valuation chain.

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Mortgage Bankers Association adds 21 new members in April and May

The Mortgage Bankers Association announced that it welcomed 21 new members into its ranks in the months of April and May, bringing its total membership to more than 2,200 companies.

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Fannie Mae moving in Dallas?

Fannie Mae is looking to review its real estate options in North Texas as its operations shift to reflect a changing industry with fewer delinquencies.

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Thursday, June 18, 2015

Altisource Residential CEO Ashish Pandey stepping down

Ashish Pandey, who has served as the chief executive officer of Altisource Residential Corporation since the company was spun off from Ocwen Financial in 2012, is stepping down. According to a release from the company, Pandey is leaving Altisource Residential to “pursue personal interests” in India.

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10 tips for first-time homebuyers

Homebuyers are caught in a storm of low inventory, high demand and tight credit availability right now. In these market conditions, even simple tactics can make the difference between owning a home or not. For starters, here are 10 tips.

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Wells Fargo names Hope Hardison chief administrative officer

Wells Fargo will soon have a new chief administrative officer. Pat Callahan, who currently serves as chief administrative officer, told the bank that she intends to retire later this year, after a 38-year career with the company.

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Redfin: Homes sold in May at near 2013 pace as price growth slowed

Homes sold at their fastest pace in nearly two years, with the typical property on the market only 28 days in May, down from 32 in April, according to the latest from Redfin. Good news to you?

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Sen. Rand Paul’s radical tax bill would eliminate all deductions, except mortgages

No stranger to offering proposals that might be considered left of center (or right of center, as it were), Sen. Rand Paul, R-KY, authored a commentary in today’s Wall Street Journal, in which he writes that the entire U.S. tax code needs to be abolished.

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Senior home equity nears $4 trillion as home values rise

Home equity, and mortgage debt of homeowners 62 and older, has reached 189.67, its highest level since Q1 2007, according to the National Reverse Mortgage Lending Association/RiskSpan Reverse Mortgage Market Index.

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MBA, NAR, industry trade groups weigh in on TRID delay

The industry pleaded for a delay, and they got a delay. The industry quickly welcomed the news, but that doesn’t mean they are fully satisfied.

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Trending Thursday: Conservatorship will never die

People upset with Fannie and Freddie and the FHFA? Check. Counterintuitive survey on financial outlook for minorities? Check. Congressfolks saying the regulators are dropping the ball on diversity? Big check. Read on, traveler.

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Foreclosure activity hits 19-month high on rise in REOs

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 126,868 U.S. properties in May 2015, up 1% from the previous month and up 16% from a year ago to a 19-month high. Here’s why and what it means.

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New housing policy foundation breaks silence on housing crisis

Housing and mortgage finance reform either gets shuffled off to arguments in congressional subcommittees that go nowhere, or just plain ignored by policymakers. A new foundation with a power lineup plans to change all that, and they may have the capital to do it.

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Mortgage rates tick down slightly to 4%

Average fixed mortgage rates moved lower from the previous week’s new highs for 2015 while housing data was generally positive, according to the latest from Freddie Mac.

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TRID, discrimination and accountability: The appalling CFPB double standard

Let me say what a whole lot of people are thinking: This is emblematic of the ongoing hypocrisy and double standards for which the CFPB is notorious, and why change is needed.

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Wednesday, June 17, 2015

Believe it or not…Barney Frank set to join a bank board

Quick, everyone check outside and make sure pigs aren’t flying! They’re not? Okay, good. Based on the headline in the Wall St. Journal, it looked like the world may be turning upside down right before our very eyes.

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Is a Qatari buyer about to buy the most expensive home in the U.S.?

A mystery buyer, believed to be from Qatar, could be on the verge of buying the most expensive home in the history of the U.S. Click through to read the ludicrous, potentially record-setting details.

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Yellen: A rate increase in 2015 is possible

A federal funds rate increase this year is possible given current economic data, Fed Chair Janet Yellen said in a press conference on Wednesday after the Federal Open Market Committee June meeting announcement. And what’s more, most participants agree with her.

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CFPB moves TRID date to Oct. 1

The Consumer Financial Protection Bureau announced on Wednesday a proposal to delay the effective date of the Know Before You Owe rule until Oct. 1, 2015, instead of the previous deadline of Aug. 1. The mortgage industry had extensively lobbied the CFPB through Congress to push back the original implementation date.

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Barclays to cease trading legacy mortgage bonds

Barclays intends to stop trading legacy mortgage bonds, leaving behind a $700 billion market, Bloomberg reported Wednesday. So where is Barclays taking its money? Click through to find out.

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OCC slaps Wells Fargo, JPMorgan, others with mortgage servicing restrictions

The Office of the Comptroller of the Currency slammed Wells Fargo, JPMorgan Chase and other banks with new mortgage servicing restrictions due to their failure to comply with requirements of the Independent Foreclosure Review, the Office of the Comptroller of the Currency announced Wednesday.

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HOPE NOW reports 153K mortgage solutions for homeowners in April

Hope Now has released its April 2015 report that shows total non-foreclosure solutions (the combination of total loan modifications, short sales, deeds in lieu and workout plans) were approximately 153,000.

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CoreLogic, ComplianceEase release LoanSafe Compliance Manager

CoreLogic released its latest lending solution, LoanSafe Compliance Manager, to help lenders comply with residential mortgage lending regulations, including the TILA-RESPA Integrated Disclosure rule.

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FOMC: Federal fund rate remains unchanged, on track for 2015 increase

Once again, the Federal Open Market Committee has chosen to keep the current 0 to ¼ percent target range for the federal funds rate, crushing any speculation that it would be raised in June.

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TransUnion: 1.5M hit by mortgage crisis can re-enter housing market in next 3 years

1.5 million buyers who were 60+ days delinquent on a mortgage loan, lost a mortgage through foreclosure, short sale or other non-satisfactory closure, or who had a mortgage loan modification will be eligible to get a mortgage again by 2018. Are you ready?

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Deutsche Bank: Smaller banks will probably offload MSRs to bigger banks

The implementation of the Basel 3 banking regulations, in which a European-devised strategy is levied among American financial institutions, appears to have disproportionately impacted smaller banks for the worse.

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Fannie Mae: More mortgage lenders feeling positive on purchase demand

Mortgage lenders remain optimistic about purchase mortgage demand and their profit margin during the next three months. Good news or misplaced? You decide.

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Mortgage applications drop 5.5% on rising interest rates

Mortgage applications decreased 5.5% from one week earlier, according to data from the Mortgage Bankers Association. Here’s what happened.

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Tuesday, June 16, 2015

Sen. Marco Rubio faced foreclosure; sold house for $18,000 loss

Florida Sen. Marco Rubio faced foreclosure on a home he owned in Tallahassee after failing to make his mortgage payment for five months, according to a new report from the New York Times, which did a deep dive into the presidential candidate’s finances.

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Wells Fargo: Most potential homebuyers don’t understand mortgages

Homeownership has always been, and continues to be, part of the America dream. The problem is that no one truly understands how to get there. This survey shows where the lines are getting crossed.

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Death threats drive CoreLogic employee involved in McKinney pool incident into hiding

Tracey Carver-Allbritton, the CoreLogic employee involved in the McKinney pool incident, is now “in hiding” in California because she received death threats after a video surfaced of her allegedly striking one of the party’s attendees during what appeared to be a fight. According to a statement from Carver-Allbritton, the video does not show the whole story.

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Former NFL player profits from nonbank boom

After finishing his football career with the Tampa Bay Buccaneers, Casey Crawford found a new field to conquer: mortgage lending. And the best part is, he’s succeeding at it.

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Housing advocates: FHFA won’t reduce principal, offers discounted NPLs

Two liberal advocacy groups have published a provocative study accusing the Department of Housing & Urban Development and the Federal Housing Finance Agency of helping Wall Street at the expense of low-income communities by selling non-performing loans to investors. Are they right?

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Houses that look like Game of Thrones characters

If you’re still reeling from the finale to season 5 (and the letdown that was the overall season 5), try this palate cleaner – homes that look like Game of Thrones characters.

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Discover shuttering home loan business

Discover Financial Services is closing its mortgage origination business, Discover Home Loans, after just three years, saying that the business is not projected to meet the company’s financial expectations.

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Accenture updates software for TRID

Accenture released a new version of its Accenture Mortgage Cadence Enterprise Lending Center platform to fall in line with the upcoming TILA-RESPA Integrated Disclosure Rule.

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Moody’s: Ocwen’s servicer ratings no longer on verge of downgrade

Perhaps the shaky ground on which Ocwen Financial has subsisted on for the last few months is finally beginning to stabilize, because, for the second time this month, Moody’s Investors Service issued a positive report on the beleaguered nonbank.

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Should real estate agents drive around in fancy cars?

Ah, the fancy car. The symbol of American success. Power, stability, money, and if you work in real estate, probably completely unnecessary.

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Freddie Mac offering second actual loss STACR deal

After market demand caused Freddie Mac to increase the size of its first Structured Agency Credit Risk series offering featuring actual loss positions, Freddie Mac is now offering a new actual loss STACR deal.

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More homeowners are paying their mortgages on time

Not only are consumer credit default rates below pre-crisis levels and trending down, but the first mortgage default rate dropped to a historical low. And according to David Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices, “The economy looks good.”

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Group launches homeownership program to boost modest-income buyers

The National Community Reinvestment Coalition, a nonprofit affordable housing organization, announced Tuesday the launch of GROWTH, an initiative designed to create new pathways to homeownership for low- and moderate-income families. Will it work?

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MBA: Commercial mortgage debt increases to $2.68 trillion

The commercial/multifamily mortgage market witnessed a strong start to the year as all four major investor groups increased their holdings.

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CoreLogic: Underwater mortgage share down to 10.2% in 1Q15

New analysis shows 254,000 properties regained equity in the first quarter of 2015, bringing the total number of mortgaged residential properties with equity at the end of Q1 2015 to approximately 44.9 million, or 90% of all mortgaged properties.

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Housing starts drop but permits see big surge in May

Housing starts fell in May after last month’s double-digit, but at the same time there was a big push in permits for future construction – a surge taking permits to near the highest its been since late 2007. Here’s what happened.

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Monday, June 15, 2015

FHFA's 2014 report to Congress

The Federal Housing Finance Agency released its 2014 report to Congress giving an update on what exactly went on at the agency in 2014. Here’s where it met it standards.

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Boston Community Capital CEO: The housing crash isn’t over

The chief executive of Boston Community Capital, Elyse Cherry, has a guest editorial in the New York Times that goes into the fact that the housing crisis may be a memory for most homeowners, it was just the beginning for some. Want to know more?

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Here’s where California went all wrong with the National Mortgage Settlement

Everyone was on board and the national mortgage settlement money was meant to flow to distressed homeowners in hopes of staving off more foreclosures. It was a feel good moment, one we could all get behind. Then the state stepped in and had to ruin this nice thing for everyone.

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Housing advocates join industry applauding reverse mortgage change

In rare moment of congruence, affordable housing advocates and housing industry players are applauding the recent decision by the U.S. Department of Housing and Urban Development and the Federal Housing Administration to changes its reverse mortgage program. Here’s why.

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These 5 charts show the very best housing markets in America for families

WalletHub compared the 150 most populated U.S. cities based on 30 key metrics to find the most family-friendly housing markets. Did yours make the cut? HousingWire’s did. Read on.

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Cleveland Cavaliers, Quicken Loans owner fights DOJ in court

As LeBron James and his fellow Cavaliers try to secure an NBA title, Cavaliers owner Dan Gilbert, who is also the owner of Quicken Loans, is trying to win a much bigger battle against the United States Justice Department.

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Selma Hepp named Trulia's new chief economist

Selma Hepp joins the ranks of top housing economists as she fills the position of Trulia’s newest chief economist, replacing Jed Kolko after three and a half years in the position.

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Homebuilders Standard Pacific and Ryland to merge

Standard Pacific’s current CEO Scott Stowell will be executive chairman, while Ryland’s chief, Larry Nicholson, would become CEO of the combined company.

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Where does your state rank on mortgage down payments?

Now is a good to buy a home, at least if you are making your decision based on how much of a down payment you need. This chart shows exactly where your state ranks on its average down payment.

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ComplianceEase technology now ready for TRID

ComplianceEase announced it updated its latest technology to be compliant with the new TRID rules that will go into effect in less than two months.

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No ruling yet from Supreme Court in Texas “disparate impact” case

No decision came in from the U.S. Supreme Court today on the much anticipated case that will decide whether it is within the bounds of the Fair Housing Act to employ the controversial legal doctrine of “disparate impact.” Want to know more?

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ICYMI: Three convicted of $7M loan modification scam

The three defendants were convicted by a federal jury of offering bogus loan modification programs to thousands of financially distressed homeowners. Here are more ugly details.

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Homebuilder confidence hits 2015 high in June

Builder confidence in the market for newly built, single-family homes in June rose five points to a level of 59 on the National Association of Home Builders/Wells Fargo Housing Market Index released Monday. What does it mean for you?

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TILA-RESPA Integrated Disclosure will add a week or more to closings

The bottom line effect of the TILA-RESPA Integrated Disclosure requirements that go into effect Aug.1 will be to add at least a week to closings, say industry experts. Want to know why?

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Monday Morning Cup of Coffee: Who’s buying pieces of Butler & Hosch?

One month ago, one of the nation’s largest mortgage industry law firms, Butler & Hosch, shut down abruptly after almost 35 years in business. So who’s buying up pieces of the now-defunct firm? Plus a look at why Millennials aren’t buying in the nation’s largest cities and what last week’s mortgage application data and interest rate reports tell us about the future of housing.

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Saturday, June 13, 2015

NYDFS names Lawsky’s temporary replacement

The New York Department of Financial Services has found its replacement for its soon-departing superintendent, Benjamin Lawsky. Lawsky himself made the announcement in a memo sent to NYDFS staffers. In the memo, Lawsky said the NYDFS will be in good hands while Gov. Andrew Cuomo searches for a permanent replacement.

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LRES names three new vice presidents of sales

Cory Schwarzschild, Jason Davis and Brandon Hawkins will join LRES and will be responsible for managing LRES’ sales force and helping the company enter into new strategic business relationships with mortgage lenders and servicers.

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Is a balloon mortgage ever worth it?

The Motley Fool just published a post about an interesting topic. Should the once-popular mortgage lending product — the balloon mortgage — make a stunning return to the market?

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FHA issues new reverse mortgage rules to protect spouses

The U.S. Department of Housing and Urban Development and the Federal Housing Administration announced changes to its reverse mortgage program designed to keep non-borrowing spouses in their homes after the last surviving borrower dies.

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Friday, June 12, 2015

5 key points about the pending TRID upheaval

In an email to clients this morning, the team of financial services and real estate analysts at FBR drew 5 key points about what many in the mortgage lending industry expect to be a total upheaval of their operations. But are mortgage lenders right to be so worried?

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Kentucky man to spend 12 years in prison for insane fraud scheme

A Kentucky man will spend the next 12 years in federal prison for leading a spectacularly massive scheme that involved defrauding the Internal Revenue Service of $53 million, bribing senior bank executives, the fraudulent purchase of an insurance company and the defrauding of insurance regulators and an investment bank.

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Sen. Warren responds to Jamie Dimon you-don't-get-it swipe

One day after JPMorgan Chase CEO Jamie Dimon took a swipe at Sen. Elizabeth Warren, D-Mass., saying that he doesn’t know if she fully understands the global banking system, Warren responded in kind. You didn’t think she was going to let this one go, did you?

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Here are the hot job markets where rent is soaring

Moving to a city with a top job market is a great way to increase your financial standing, right? Unfortunately, MadValorem just released a study that proves the opposite could be true, at least if you are renting.

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This 1 chart shows exactly where Americans are moving (and buying homes)

Interested in seeing where today’s Americans are packing up and relocating to? SpareFoot was, and that’s why they put together a statistical graphic of where the U.S. population is booming. Want to know where that is?

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