Monday, August 31, 2015

Infographic: America’s growing demand for new home construction

The pace of new home construction is almost back to normal since the recession. There is just one problem: There isn’t enough available workers to do the job.

from Byrd Mix http://ift.tt/1PHn4LR via byrd memphis developer


from Tumblr http://ift.tt/1PHrzpL

Dimont partnering with OrangeGrid

Dimont, a provider of hazard claims insurance processing services to the residential and commercial mortgage industries, announced a partnership with OrangeGrid. Under the terms of the agreement, Dimont’s hazard insurance and claims processing capabilities will be available through OrangeGrid’s technology suite.

from Byrd Mix http://ift.tt/1FdmKPz via byrd memphis developer


from Tumblr http://ift.tt/1PHrB0K

Meet Edwin Baker: Part-time mortgage worker fighting for NFL roster spot

Meet Edwin Baker. He’s fighting to make an NFL roster right now and he just spent his off-season working at United Shore Financial Services. From mortgages to touchdowns? Baker hopes so.

from Byrd Mix http://ift.tt/1NJpa0b via byrd memphis developer


from Tumblr http://ift.tt/1Ko0IB0

Urban Institute: FHA's proposed servicing rule will limit access to credit

Urban Institute’s Housing Finance Policy Center Director Laurie Goodman is worried about the far-reaching implications of the servicing reforms proposed by the Federal Housing Administration and its impact on FHA borrowers. Is she onto something?

from Byrd Mix http://ift.tt/1EtKhRa via byrd memphis developer


from Tumblr http://ift.tt/1PHrzpE

National mortgage risk index up slightly in July

The risk grows even as increasing leverage in a seller’s market is pushing up real home prices, moving the goal post further away for many aspiring low- and middle-income homebuyers. Here’s why it’s not a good trend.

from Byrd Mix http://ift.tt/1hs4Qmo via byrd memphis developer


from Tumblr http://ift.tt/1PHrz9o

Stonegate CEO Jim Cutillo abruptly leaves company

Stonegate Mortgage Founder and CEO Jim Cutillo announced he is abruptly leaving the company effective Sept. 10, 2015, serving only as a consultant over the next six months to facilitate his transition. After a rough year on the stock market for the company, one analyst said this is positive news for the lender.

from Byrd Mix http://ift.tt/1NT2R7i via byrd memphis developer


from Tumblr http://ift.tt/1Ko0Lgd

Judge rules against RBC in mortgage lawsuit

A district judge awarded the court-appointed trustee overseeing the liquidation of Thornburg Mortgage $45 million in his crisis-era lawsuit against Royal Bank of Canada since the bank undervalued the seized mortgage-backed securities it sold.

from Byrd Mix http://ift.tt/1hsfIke via byrd memphis developer


from Tumblr http://ift.tt/1PHrz9k

Mortgage application defects keep rising

Defects found on mortgage loan applications is on the rise and have been throughout 2015, according to a new report from First American Financial. Which states and markets are the biggest risks of application fraud? Click here to find out.

from Byrd Mix http://ift.tt/1Etu5iF via byrd memphis developer


from Tumblr http://ift.tt/1Ko0KZV

At bloggerheads: The latest #FannieGate rumor challenged by the media

Rafferty Capital’s Dick Bove recently told clients a Presidential round of golf, included a lawyer whose firm is at the center of the #FannieGate debacle, suggests the White House is pushing everyone to reach a settlement. Seemed harmless enough, but by the afternoon, things started getting really interesting.

from Byrd Mix http://ift.tt/1NT2Ss3 via byrd memphis developer


from Tumblr http://ift.tt/1PHrAKn

These are the 20 hottest housing markets right this minute

The summer seller’s market is started to swing a little more in favor of buyers as of August, according to the research from the National Association of Realtors’ website, looking at the number for the first three weeks of August. Here’s what it means.

from Byrd Mix http://ift.tt/1fRfKAZ via byrd memphis developer


from Tumblr http://ift.tt/1Ko0Iky

Monday Morning Cup of Coffee: When will mortgage lending pick up?

The Federal Reserve has the whole world (of inflation and interest rates) in its hands, and the tea leaves right now are a tempest in a teapot. Plus MBA’s Stevens weighs in on Fannie and Freddie future, a change in mortgage bond investing and more. Read on if you dare.

from Byrd Mix http://ift.tt/1fQoJm9 via byrd memphis developer


from Tumblr http://ift.tt/1JwbVvO

Friday, August 28, 2015

Want Zillow to pay your mortgage for a year?

Zillow is giving away $25,000 to pay one lucky person’s mortgage for an entire year. Hurry up though, the “Pay My Mortgage, Please” sweepstake ends Monday morning. Bonus: Details show how to get entered 10 times.

from Byrd Mix http://ift.tt/1EnNbXq via byrd memphis developer


from Tumblr http://ift.tt/1LBggyC

Founder of Manhattan Mortgage opens MC Home Loans

Industry veteran Melissa Cohn, who founded and ran Manhattan Mortgage Company for nearly 30 years then left to serve as the president of GuardHill Financial, is opening a new mortgage company based in New York City.

from Byrd Mix http://ift.tt/1PDIQ3e via byrd memphis developer


from Tumblr http://ift.tt/1NN9oR0

Agent Ace adds Kevin Heniff as director of business development

Santa Monica, California-based Agent Ace, a startup that uses data to match homebuyers and sellers with the best agent for their deal, announced the addition of Kevin Heniff as director of business development.

from Byrd Mix http://ift.tt/1PDINnO via byrd memphis developer


from Tumblr http://ift.tt/1LBgiqh

Penthouse owned by ‘Psychic Hotline King’ is NYC’s 2nd most expensive rental

The man who was once called the “Psychic Hotline King,“ and the man that brought “Miss Cleo” into everyone’s TV throughout the 1990’s with their omnipresent infomercials, is also now the landlord commanding the second highest rent in all of New York City. Yes, you read all of that right.

from Byrd Mix http://ift.tt/1KrokTW via byrd memphis developer


from Tumblr http://ift.tt/1NN9msh

Just what is the Fed going to do about interest rates?

After a week full of market volatility and upheaval, analysts from all sides are questioning what impact, if any, the events of the week are going to have on the Federal Open Markets Committee and the looming threat of rising interest rates. Here’s all the consensus, with uniform opinion woefully lacking.

from Byrd Mix http://ift.tt/1i7Us3W via byrd memphis developer


from Tumblr http://ift.tt/1NN9mc1

Velocify announces partnership with Ellie Mae

Velocify, a sales acceleration platform, announced that its solutions are now available through Ellie Mae’s all-in-one mortgage management solution, Encompass. According to a release from Velocify, the “seamless” integration allows lenders to order Velocify’s solutions directly through Encompass to drive quality and efficiency in the loan origination process.

from Byrd Mix http://ift.tt/1KSB0yV via byrd memphis developer


from Tumblr http://ift.tt/1LBggi8

Nationstar gives $30 million for distressed homeowners in Milwaukee

Nationstar Mortgage will provide up to $30 million to financially troubled Milwaukee homeowners under an agreement with the city. This comes after months of negotiations, a spate of critical press and upcoming hearings on how the city is financing the proposed $500 million Milwaukee Bucks arena, which media and analysts say is definitely related.

from Byrd Mix http://ift.tt/1hlPBvl via byrd memphis developer


from Tumblr http://ift.tt/1NN9lVw

Economic strength hinges on China

One of the worst weeks for the stock market this year is coming to a close, but the worst may not be over. The country continues to question the health of China’s economy, along with whether the Federal Reserve will raise interest rates next month.

from Byrd Mix http://ift.tt/1UbrAc4 via byrd memphis developer


from Tumblr http://ift.tt/1LBgiq7

Fannie Mae: 3 reasons why this oil glut won't crash housing

Although oil prices are expected to be lower for longer, the negative impact on home prices is estimated to be less severe for most oil-producing states than in the 1980s for these three reasons.

from Byrd Mix http://ift.tt/1UbtxoU via byrd memphis developer


from Tumblr http://ift.tt/1NN9mbV

Bove: Is a Fannie and Freddie settlement near in #FannieGate?

Is the White House stepping into the FannieGate brouhaha to push a negotiated settlement in the multitude of GSE lawsuits brought by investors who got hit by the Third Amendment Sweep? Read on.

from Byrd Mix http://ift.tt/1i7Rj4c via byrd memphis developer


from Tumblr http://ift.tt/1Ui9NL4

The Wrap: Appraisal activity continues to pick up in second week of August

Appraisal activity is picking up and so is interest in this weekly feature, as this week HousingWire welcomes a weekly addition to the column that should give appraisers more tools for their toolbox. Read on to find out what happened this week and what’s in store for the future.

from Byrd Mix http://ift.tt/1JBzVe4 via byrd memphis developer


from Tumblr http://ift.tt/1Ui9Pmd

NAFCU to CFPB: Fix your consumer complaint database

The National Association of Federal Credit Unions still thinks the Consumer Financial Protection Bureau’s consumer complaint narrative database is a problem, and they’re letting the agency know about it. Want to know more?

from Byrd Mix http://ift.tt/1UhQOAc via byrd memphis developer


from Tumblr http://ift.tt/1Ui9NuK

Thursday, August 27, 2015

Altisource Residential adds CEO George Ellison to board of directors

George Ellison, who has served as the CEO of Altisource Residential Corporation since taking over for the company’s original CEO, Ashish Pandey in June, is now a member of the company’s board of directors as well.

from Byrd Mix http://ift.tt/1JAMhY2 via byrd memphis developer


from Tumblr http://ift.tt/1EnXUS1

Here come the 75 million homebuying Millennials

Out of 75.3 million Millennials, 93% want to own a home in the near future, so brace yourself. They’re coming. And this infographic gives a representation of what to expect from this upcoming young generation.

from Byrd Mix http://ift.tt/1JmxdK2 via byrd memphis developer


from Tumblr http://ift.tt/1JpmlgT

Homeside Financial appoints Jared Wade senior vice president

Homeside Financial, a growing privately held mortgage bank, is adding Jared Wade as the company’s senior vice president of national talent acquisition and strategic growth. Ward previously served in similar executive roles for New Penn Financial, Movement Mortgage and Bank of America.

from Byrd Mix http://ift.tt/1hiO6ht via byrd memphis developer


from Tumblr http://ift.tt/1EnXUBN

HUD gives $101M to communities for lead paint, home hazard removal

The U.S. Department of Housing and Urban Development awarded over $101 million to 32 city, county and state governments to deal with lead paint and other home hazards. Here’s the skinny.

from Byrd Mix http://ift.tt/1JoOa90 via byrd memphis developer


from Tumblr http://ift.tt/1Jpmocl

Auction.com adds former eBay executive as VP of customer engagement

Continuing a recent trend of hiring high-level executives with extensive web experience, Auction.com announced the addition of Kristine Chin to serve in the newly created role of vice president of customer engagement. Chin joins Auction.com, the online real estate marketplace, after spending 12 years with eBay.

from Byrd Mix http://ift.tt/1JoOa8V via byrd memphis developer


from Tumblr http://ift.tt/1EnXWJH

Front lawn dinosaurs cause stir in Texas neighborhood

A Texas couple is putting the average homeowners guardian lion statues to shame with a bit of a Jurassic Park twist on their lawn. Call in Chris Pratt?

from Byrd Mix http://ift.tt/1JoObJY via byrd memphis developer


from Tumblr http://ift.tt/1JpmlgJ

Ex-Fifth Third banker starts mortgage-bond hedge fund

Meet Kevin Taylor. In 2013, he left his position running mortgage-backed securities trading desk at Fifth Third Bank to start Mariemont Capital. And according to a report from the Cincinnati Business Courier, Taylor is finding success investing in residential mortgage bonds and delivering big returns for his investors.

from Byrd Mix http://ift.tt/1KRf1IC via byrd memphis developer


from Tumblr http://ift.tt/1EnXUBJ

What should you do if your Realtor has a family emergency?

Before you die of shock in learning that a potential homebuyer is actually being considerate towards their real estate agent, let me ask the following: What do you think should happen here?

from Byrd Mix http://ift.tt/1MXMBms via byrd memphis developer


from Tumblr http://ift.tt/1JpmnVZ

Mortgage Bankers Association adds 28 new members

The Mortgage Bankers Association announced that it welcomed 28 new members into its ranks in the months of June and July, continuing to elevate its total membership beyond 2,200 companies. Take a look at the new members.

from Byrd Mix http://ift.tt/1JlYr3r via byrd memphis developer


from Tumblr http://ift.tt/1EnXUBH

Walter affiliate Marix takes on $3.3B in Freddie MSRs

Marix Servicing, an affiliate of Walter Capital Opportunity, has received approval from Freddie Mac to hold mortgage-servicing rights. And this may just be the start of many more to come.

from Byrd Mix http://ift.tt/1i4Z1ff via byrd memphis developer


from Tumblr http://ift.tt/1JpmnVV

Here’s what top housing economists think about pending home sales today

Despite the plateau and the summer cooling of home price growth, the summer buying season has been solid and the rest of 2015 looks good for housing. Want to know why?

from Byrd Mix http://ift.tt/1JlOQdc via byrd memphis developer


from Tumblr http://ift.tt/1EnXUBF

Trending Thursday: Fed chills on Great Fall of China?

How much will the China and global equities plunge inform the Fed’s September meeting on rates? What’s the housing situation in New Orleans a decade after Katrina? And can private capital return to mortgage finance if it’s not sure that capital is safe? Read on.

from Byrd Mix http://ift.tt/1EmO4A4 via byrd memphis developer


from Tumblr http://ift.tt/1JpmnVR

Pending homes sales remain flat in July

Pending home sales were mostly unchanged in July, but rose modestly for the sixth time in seven months, according to the National Association of Realtors. Is this the start of a sustained slowdown? Read on.

from Byrd Mix http://ift.tt/1LD6a2X via byrd memphis developer


from Tumblr http://ift.tt/1EnXUBD

Freddie Mac: China volatility pushes interest rates lower

Fixed mortgage rates declined to their lowest levels since May of this year due to ongoing global volatility out of China, with the 30-year fixed-rate mortgage averaging 3.84%.

from Byrd Mix http://ift.tt/1i5V6yY via byrd memphis developer


from Tumblr http://ift.tt/1JpmnFz

Fed’s Dudley: Raising interest rates not likely very soon

A September interest rate hike is now unlikely due to recent turmoil in the stock markets from China’s volatile economy. According to New York Fed President William Dudley, the prospect of a September rate hike “seems less compelling” than it was only weeks ago.

from Byrd Mix http://ift.tt/1LyhhHL via byrd memphis developer


from Tumblr http://ift.tt/1EnXUBx

Wednesday, August 26, 2015

RealtyTrac: Share of in-foreclosure sales hits 15-year low

Sales of properties in-foreclosure and cash sales were down from a year ago to multi-year lows while year-to-date U.S. home sales in 2015 are at an eight-year high, and the U.S. median home price in July was at an 82-month high. Say what you will, this is one area of housing that’s slowly fading. Read on.

from Byrd Mix http://ift.tt/1WTETwN via byrd memphis developer


from Tumblr http://ift.tt/1VcAzXu

Freddie Mac: Housing market nearing stability

The housing market is teetering on the edge of becoming a stable market again. According Freddie Mac’s latest housing report, housing markets are the strongest they’ve been in years.

from Byrd Mix http://ift.tt/1EjCoh5 via byrd memphis developer


from Tumblr http://ift.tt/1VcABil

HOPE NOW: Mortgage industry achieves 24M solutions and 6M loan mods

In the second quarter of 2015, approximately 411,000 homeowners received non-foreclosure solutions from mortgage servicers, according to HOPE NOW. The total number of foreclosures keeps dwindling, and here’s how they’re doing it.

from Byrd Mix http://ift.tt/1hfiVn5 via byrd memphis developer


from Tumblr http://ift.tt/1Km2m4A

Bookkeeper sentenced for failing to report $24M mortgage fraud

A bookkeeper who failed to report mortgage fraud was sentenced to two years’ probation, with six months to be served on home confinement, for his conviction for concealing massive financial institution fraud. You know you want to know what happened.

from Byrd Mix http://ift.tt/1fGKV1L via byrd memphis developer


from Tumblr http://ift.tt/1VcAzHd

Here are the best places to buy a home right this minute

WalletHub is back with its list of the healthiest housing markets of 2015 so far, and it’s a doozy. No surprise that the Lone Star State figures prominently. But, which other markers made the cut, too? Have a look.

from Byrd Mix http://ift.tt/1MVe8oq via byrd memphis developer


from Tumblr http://ift.tt/1Km2m4y

Winter is coming: Top 10 markets for winter house hunting

While spring and summer are the usual times to shop for a new home, waiting until winter might pay off for some of the nation’s hottest housing markets, especially California.



from Byrd Mix http://ift.tt/1EWZs0b via byrd memphis developer
from Tumblr http://ift.tt/1Km2npi

Family gives up hope of finding missing Realtor alive

In a tragic turn, the family of the Arizona Realtor missing since mid-June is giving up hope on finding Sidney Cranston alive. They just hope now they can get some kind of concrete closure.

from Byrd Mix http://ift.tt/1LB7BPs via byrd memphis developer


from Tumblr http://ift.tt/1Km2lOi

Toll Brothers' income slips as homebuilders predict brighter future

Luxury homebuilder Toll Brothers posted third-quarter net income of $66.7 million, down compared to net income of $97.7 million. However, Robert Toll, executive chairman, noted that the company is encouraged by recent positive reports.

from Byrd Mix http://ift.tt/1MU42UP via byrd memphis developer


from Tumblr http://ift.tt/1NUI1lU

Mortgage apps rise on increase in government purchase loans

Mortgage applications increased 0.2% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending August 21, 2015. Here’s what happened.

from Byrd Mix http://ift.tt/1MTmXPC via byrd memphis developer


from Tumblr http://ift.tt/1NUI2Xc

Home price growth is cooling and here's why that's a good thing

The housing market is slowing down, with home values seeing the first negative monthly change since the market began its recovery nearly four years ago, but that could be welcome news for challenged buyers facing ever-rising rents.

from Byrd Mix http://ift.tt/1MTTrth via byrd memphis developer


from Tumblr http://ift.tt/1hGsWL5

Tuesday, August 25, 2015

DocMagic names Gavin Ales chief compliance officer

DocMagic, a provider of compliant loan document preparation, compliance, eSign and eDelivery solutions, announced the addition of Gavin Ales as the company’s new chief compliance officer. Ales joins DocMagic from Prospect Mortgage, where he was deputy chief compliance officer.

from Byrd Mix http://ift.tt/1NSPtxV via byrd memphis developer


from Tumblr http://ift.tt/1V991Ck

Seattle’s ‘Up’ house is getting its own movie

The tale of the small Seattle-area home that rose to fame after the owner famously turned down $1 million for her home even as a shopping mall was being built around her and was once used to promote the Disney film “Up,” because of its similarities to the movie, is now headed to Hollywood itself.

from Byrd Mix http://ift.tt/1NSPrWQ via byrd memphis developer


from Tumblr http://ift.tt/1V991m5

CFPB: Complaints against credit reporting agencies rise sharply

The Consumer Financial Protection Bureau released its second snapshot report of its consumer complaint database, and this time, credit reporting agencies are in the hot seat. So what do consumers think about the credit reporting agencies? Read on.

from Byrd Mix http://ift.tt/1EirTLa via byrd memphis developer


from Tumblr http://ift.tt/1EhNtiI

MBA: Housing demand to surge over next 10 years

If trends hold over the next 10 years, the next decade will see an unprecedented surge in the demand for housing. Millennials, Boomers and Hispanics will be the drivers if 2014 trends hold. This is big, so read on.

from Byrd Mix http://ift.tt/1fEjrdp via byrd memphis developer


from Tumblr http://ift.tt/1V991lR

California pending home sales post strongest increase in six years

California pending home sales skyrocketed since last July and posted the strongest year-over-year increase in more than six years. Read the article for a full picture of the Golden State.

from Byrd Mix http://ift.tt/1LyMs8u via byrd memphis developer


from Tumblr http://ift.tt/1V98YXj

How well do you understand your credit score? Take this quiz

The world of credit scores if often misunderstood, which is not a good thing since it plays a decent role in whether or not you will qualify for a mortgage. This quiz will test your knowledge on how well you know, or don’t know, the credit score system. A word of caution: Don’t get your hopes up for a 100%.

from Byrd Mix http://ift.tt/1JhSV1W via byrd memphis developer


from Tumblr http://ift.tt/1EhNqDs

Redfin: Housing demand cools for 4th month straight

Redfin’s Housing Demand Index which measures and forecasts based on homebuyer activity prior to purchase, decreased 5% in July, falling to 108 from 113 in June, the fourth consecutive month-over-month decline. Troubling or welcome?

from Byrd Mix http://ift.tt/1fEkwlp via byrd memphis developer


from Tumblr http://ift.tt/1V98YGP

New private equity fund breaks into real estate

US REOF announced its launch into the industry as a new private equity real estate company focused on the acquisition, rehabbing, leasing and selling of single-family homes in Texas and select cities in the Midwest.

from Byrd Mix http://ift.tt/1NSogvc via byrd memphis developer


from Tumblr http://ift.tt/1V9915n

ABOUT TIME: Cost to originate mortgages finally gets cheaper

After barely surviving the subprime crisis and housing collapse, and then enduring the agony of burdensome regulatory changes and the advent of a new mortgage watchdog, mortgage originators finally, FINALLY, have some good news to spread.

from Byrd Mix http://ift.tt/1Ehtd12 via byrd memphis developer


from Tumblr http://ift.tt/1ETXsG1

S&P Case-Shiller: Home prices continue rise in June

Home prices continued their rise across the country over the last 12 months, according to the S&P/Case-Shiller Home Price Indices. The biggest worries? Multiple rate increases or a full-blown bear stock market contraction.

from Byrd Mix http://ift.tt/1WQ27ni via byrd memphis developer


from Tumblr http://ift.tt/1hEAHkD

New home sales jump 5.4% in July to 507K

New home sales showed solid if expected gains in July. And while volatility is common for new home sales, other housing data released last week suggest it’s not a blip, analysts say. Here’s the breakdown.

from Byrd Mix http://ift.tt/1EhyGor via byrd memphis developer


from Tumblr http://ift.tt/1ETXv4F

FHFA: June 2015 house prices rose 5.6% from June 2014

The Federal Housing Finance Agency house price index rose 0.2% in June, below the low-end forecast for 0.3% but still a respectable gain. Annualized price growth was 5.6%, while prices in the second quarter rose 5.4% compared to the second quarter of 2014.

from Byrd Mix http://ift.tt/1JgWWDR via byrd memphis developer


from Tumblr http://ift.tt/1ETXv4x

What does Black Monday mean for Chinese homebuyers?

The repercussions of Black Monday could go further than just today’s major hit, with the future of Chinese homebuyers now in question, according to John Burns, CEO and owner of John Burns Real Estate Consulting.

from Byrd Mix http://ift.tt/1ES0DOr via byrd memphis developer


from Tumblr http://ift.tt/1haIUMn

HUD has a problem with well-heeled people in public housing

Although many of the “over income” tenants exceeded the limit by a small amount, nearly half were over the threshold by $10,000 to $70,000. It took major bad publicity to get HUD moving. But now they are. Here’s what happened.

from Byrd Mix http://ift.tt/1I9Relp via byrd memphis developer


from Tumblr http://ift.tt/1haIW79

Dow crash will only temporarily slow housing stocks

Within minutes of the opening bell on Wall Street this morning, as we are all now well aware, the Dow Jones Industrial Average was off by 1089 points. While I have been predicting a negative turn of economic events here in the U.S. created by fanciful delusions that our economy is in growth mode, I believe what we are experiencing is actually a “pressure release valve” being activated.

from Byrd Mix http://ift.tt/1EfwjCi via byrd memphis developer


from Tumblr http://ift.tt/1haIW73

Miami Realtor accused of extortion lands sweet new job

The same Realtor accused of extorting two rival real estate agents earlier this month landed a sweet new job just days after his arrest. His new boss argues there are two sides to every story — and is going to give the accused a second chance.

from Byrd Mix http://ift.tt/1KgdWhF via byrd memphis developer


from Tumblr http://ift.tt/1haIW71

Parkside Lending launches super-low down payment jumbo mortgage

Parkside Lending’s latest announcement follows recent industry trends in the mortgage industry. The lender said it is expanding its jumbo product offerings to go to 95% LTV without mortgage insurance. The catch: Borrowers need 2 years of payments held in reserve.

from Byrd Mix http://ift.tt/1I9oxow via byrd memphis developer


from Tumblr http://ift.tt/1KgNowR

HUD moves to officially revise FHA lien pecking order

Echoing similar calls late last year from the Federal Housing Finance Agency to preserve the first-lien status of loans guaranteed by Fannie Mae and Freddie Mac, the Department of Housing and Urban Development announced Monday that it intends to prioritize liens created by the Federal Housing Administration. So which loans are now subordinate?

from Byrd Mix http://ift.tt/1MIUDxS via byrd memphis developer


from Tumblr http://ift.tt/1haIUvV

Homeowner’s insurance costs twice as much with poor credit

Homeowners with poor credit pay exactly twice as much for homeowner’s insurance as people with excellent credit, a new report says. So the message is, pay your bills?

from Byrd Mix http://ift.tt/1JvLZln via byrd memphis developer


from Tumblr http://ift.tt/1KgNpkl

Would you live in this 100-square-foot apartment in Manhattan?

How much are you willing to sacrifice in order to live in the heart of New York City? One apartment dweller in New York City traded in the luxury of even having a window to live within walking distance of the city’s best attractions at an “affordable” price.

from Byrd Mix http://ift.tt/1I9RdxP via byrd memphis developer


from Tumblr http://ift.tt/1haIUfz

Black Monday proves there's no perfect moment to raise interest rates

The Federal Reserve needs to be a little less, well, reserved. It needs to toughen up, raise interest rates and not apologize. As Shia LaBeouf should probably say, “come at me, bips.”

from Byrd Mix http://ift.tt/1I9lxZv via byrd memphis developer


from Tumblr http://ift.tt/1haIUfv

Monday, August 24, 2015

Jacob Gaffney named editor-in-chief at HousingWire

HW’s former executive editor assumes the top editorial post at the nation’s leading housing economy publication.

from Byrd Mix http://ift.tt/1Lt8RRQ via byrd memphis developer


from Tumblr http://ift.tt/1hWVC23

Black Monday hits housing, mortgage finance worse than Dow, Nasdaq

The Black Monday market collapse is hitting the stocks that drive the housing and mortgage finance economy worse than the major indices in early trading. Here’s a look at the carnage that happened after Rule 48 was invoked.

from Byrd Mix http://ift.tt/1EdZbL9 via byrd memphis developer


from Tumblr http://ift.tt/1h9oFyN

Fannie Mae economic outlook for the second half of 2015 less upbeat

The first print of second-quarter economic growth was weaker than expected, and its composition presents a less optimistic outlook for the rest of the year. Black Monday indeed. Read on.

from Byrd Mix http://ift.tt/1NPtsA7 via byrd memphis developer


from Tumblr http://ift.tt/1h9oFim

Monday Morning Cup of Coffee: What will the end of Fannie and Freddie look like?

Also, what happens when a columnist for Tribune puts 25% down on a house, but has $300 in unpaid parking tickets? He doesn’t qualify for a mortgage, that’s what. Read on for more head-scratching content on mortgage finance from around the web.

from Byrd Mix http://ift.tt/1Eeaxzb via byrd memphis developer


from Tumblr http://ift.tt/1JfpD6d

Friday, August 21, 2015

Blackstone acquires majority stake in Stearns Lending

Blackstone, a full-service, private-equity funded investment bank and burgeoning mortgage lending giant based in New York, is set to increase its mortgage business even more, as the company looks to acquire a majority stake in Stearns Holdings, the parent company of Stearns Lending. Click here for more details.

from Byrd Mix http://ift.tt/1MJ2Ofa via byrd memphis developer


from Tumblr http://ift.tt/1TZ60aG

FHFA: Fannie, Freddie risk-sharing bonds are here to stay

It looks like the credit risk-sharing bonds from Fannie Mae and Freddie Mac aren’t going away anytime soon. In fact, according to a new report from the Federal Housing Finance Agency, the three-year-old risk-sharing program, which is designed to help alleviate some of the financial risk for the taxpayers and attract private capital back into the market, is going to expand and improve on its current structure.

from Byrd Mix http://ift.tt/1KAJWZM via byrd memphis developer


from Tumblr http://ift.tt/1fxqCDS

Here are the top cities my adventurous soul would love to live in

Unlike some other lists on the hottest housing markets, I would venture to say this one is my favorite since its suits me best. There is an immense feeling of excitement in finding the uncharted pockets of the earth that are more beautiful than anything man could create. So why not live close to those places?

from Byrd Mix http://ift.tt/1Nrl4K7 via byrd memphis developer


from Tumblr http://ift.tt/1TZ60aD

FDIC sues 3 banks over faulty mortgage-backed securities

The Federal Deposit Insurance Corporation sued Citigroup and US Bancorp, along with the Bank of New York Mellon, on Wednesday in an attempt to get back more than $695 million that it lost from selling shoddy residential mortgage-backed securities once owned by a failed Texas bank.

from Byrd Mix http://ift.tt/1WK0VSv via byrd memphis developer


from Tumblr http://ift.tt/1fxqCns

CoreLogic launches “homeowner intelligence tool” for lenders

CoreLogic, a property information, analytics and data-enabled services provider, announced a new “homeowner intelligence tool” that the company boasts can helps lenders identify the “most viable prospects and high value consumers.”

from Byrd Mix http://ift.tt/1JxU6Qf via byrd memphis developer


from Tumblr http://ift.tt/1fxqCno

Redfin: Top 5 homebuyer concerns

While the top three concerns for homebuyers are still very similar to 2014, number four and five in 2015 are new entrants to the list. Here’s what changed.

from Byrd Mix http://ift.tt/1h1zXoP via byrd memphis developer


from Tumblr http://ift.tt/1TZ5ZUi

Aspen Grove Solutions partnering with with MB Field Services

Aspen Grove Solutions, a provider of property centric technology solutions to the financial and mortgage services industry, announced the addition of MB Field Services, a property preservation and inspection company, to its list of clients.

from Byrd Mix http://ift.tt/1hxoKgB via byrd memphis developer


from Tumblr http://ift.tt/1UY2Lxo

Turning tragedy around: Murdered Realtor’s son urges more safety

A year ago next month, the search for Beverly Carter, the Arkansas Realtor who had been missing since Sept. 25, 2014, ended tragically when her body was found about 25 miles north of Little Rock. Now, one of Carter’s sons is making it a mission to teach Realtors safety.

from Byrd Mix http://ift.tt/1Lp8BWV via byrd memphis developer


from Tumblr http://ift.tt/1UY2Lxk

Hidden housing neighborhoods you can afford in San Francisco and NYC

The cost of housing in San Francisco and New York City is infamous for being outrageous. However, there is still hope. According to a recent Trulia report, there may be a few hidden gems you could afford in either city.

from Byrd Mix http://ift.tt/1JaJdR2 via byrd memphis developer


from Tumblr http://ift.tt/1E8Brbd

The Wrap: Appraisal volume back on the upswing

The week beginning Aug. 9 stopped the month long downward trend with a 2.34% rise in the number of appraisals nationally, says Kevin Golden, director of analytics for a la mode inc. Plus moves in the appraisal industry, the lowdown on younger buyers and more.

from Byrd Mix http://ift.tt/1JpEY5C via byrd memphis developer


from Tumblr http://ift.tt/1UY2LgQ

Ed DeMarco: Kill Fannie Mae and Freddie Mac

The former Acting Director of the Federal Housing Finance Agency, Ed DeMarco, who oversaw the government putting the GSEs into conservatorship, says now it’s time for taxpayers to be free of backstopping mortgages. Is he onto something?

from Byrd Mix http://ift.tt/1TY0uVZ via byrd memphis developer


from Tumblr http://ift.tt/1UY2KcJ

Black Knight: Foreclosure inventory falls to 8-year low

Good news for homeowners is bad news for investors and cash buyers — the inventory of foreclosures is at its lowest in eight years. Want to know where and how?

from Byrd Mix http://ift.tt/1PD5Dwx via byrd memphis developer


from Tumblr http://ift.tt/1E8BqUV

Thursday, August 20, 2015

Kentucky town becomes first since Detroit to declare bankruptcy

A small Kentucky town is about to join a rather unfortunate club by becoming one of the few municipalities to file for bankruptcy protection. According to a Bloomberg report, Hillview, Kentucky filed for bankruptcy this week, becoming the first municipality to file for bankruptcy since Detroit famously did in 2013.

from Byrd Mix http://ift.tt/1U1uU4a via byrd memphis developer


from Tumblr http://ift.tt/1E7SYjW

Should investors worry about Fannie, Freddie risk-sharing bonds?

Despite increasing in prevalence in the last few months, credit risk-sharing transactions from both Fannie Mae and Freddie Mac have some investors worried due to a recent drop in the prices for the bonds. What’s causing the drop?

from Byrd Mix http://ift.tt/1TWuYHQ via byrd memphis developer


from Tumblr http://ift.tt/1E7SYjU

United Wholesale Mortgage promotes Melinda Wilner to chief operating officer

United Wholesale Mortgage announced the promotion of Melinda Wilner to the newly created role of chief operating officer. Prior to her promotion, Wilner served as executive vice president of underwriting for the wholesale lender.

from Byrd Mix http://ift.tt/1JtTVW7 via byrd memphis developer


from Tumblr http://ift.tt/1E7SYjQ

Placester announces partnership with Keller Williams

Placester announced a partnership with Keller Williams to provide websites and marketing tools to the brand’s 123,000 real estate associates. Associates and local offices will now have access to Placester websites that include direct integration with eEdge.

from Byrd Mix http://ift.tt/1TWuWj3 via byrd memphis developer


from Tumblr http://ift.tt/1E7SVER

Ocwen partners with housing advocates to help troubled owners

This effort is part of Ocwen’s outreach to bring real solutions to struggling homeowners in the United States, and part of its ongoing effort to rehabilitate its image after a rough 2014. Read on.

from Byrd Mix http://ift.tt/1PCm1gZ via byrd memphis developer


from Tumblr http://ift.tt/1PCWrbI

Onward and upward: Zillow completes DotLoop acquisition

Zillow Group’s acquisition of DotLoop, a Cincinnati-based company that boasts it can simplify real estate transactions by enabling brokerages, real estate agents, and their clients to share, edit, sign and store documents digitally, is now complete. For Zillow, the deal represents a big opportunity for growth.

from Byrd Mix http://ift.tt/1EFC4nD via byrd memphis developer


from Tumblr http://ift.tt/1E7SVEP

Fannie Mae finds familiar buyer for second non-performing loan sale

Fannie Mae announced the winning bidder in its second sale of non-performing loans – and the purchaser is a name that’s becoming commonplace in deals of this type. Click here for all the details.

from Byrd Mix http://ift.tt/1HYawKv via byrd memphis developer


from Tumblr http://ift.tt/1E7SYjM

Is Detroit really the hottest housing market right now?

“While Detroit has seen healthy gains this year, the Home Value Forecast rating system shows that Detroit is still a soft market,” said Tom O'Grady, CEO of Pro Teck Valuation Services. “Although examining one indicator is helpful, it’s important to analyze several home price indicators to best understand the health of a real estate market.”

from Byrd Mix http://ift.tt/1E7eZPO via byrd memphis developer


from Tumblr http://ift.tt/1PCWrbA

Trending Thursday: Mortgage apps, cash sales down but home sales up? Huh?

So home sales are up while mortgage applications and cash sales are down? Hmmm. Also, a deeper look at California housing, more legal woes for the Treasury over the conservatorship, another victory for Ocwen, and what’s up with Bluerock Residential Growth REIT? Read on.

from Byrd Mix http://ift.tt/1Ln1Y7r via byrd memphis developer


from Tumblr http://ift.tt/1PCWowq

California cool: Home sales drop 4% despite price plateau

California single-family home and condominium sales fell 4% to 41,143 in July from 42,872 in June but were up 10.6% from 37,196 in July 2014. But sales were still up year over year. Here’s how it worked out.

from Byrd Mix http://ift.tt/1E73mIN via byrd memphis developer


from Tumblr http://ift.tt/1PCWog2

Freddie Mac: Mortgage rates barely nudge, stay below 4%

Although mortgage rates barely moved from last week due to little movement in the financial market, they still came in below 4%.

from Byrd Mix http://ift.tt/1NxH9Wu via byrd memphis developer


from Tumblr http://ift.tt/1E7SVEH

Existing home sales rise for third month in a row

Existing home sales steadily increased for the third consecutive month in July, while stubbornly low inventory levels and rising prices are likely to blame for sales to first-time buyers falling to their lowest share since January.

from Byrd Mix http://ift.tt/1HXSvvA via byrd memphis developer


from Tumblr http://ift.tt/1PCWog0

RealtyTrac: Foreclosure filings up 7% in July

There was a total of 124,910 U.S. properties with foreclosure filings — default notices, scheduled auctions and bank repossessions — in July, up 7% from the previous month. RealtyTrac vice president explains why.

from Byrd Mix http://ift.tt/1TUGF1K via byrd memphis developer


from Tumblr http://ift.tt/1NHjKj4

Wednesday, August 19, 2015

Bank of NY Mellon sued for over $2B in soured mortgages

The Federal Deposit Insurance Corporation sued the Bank of New York Mellon on Wednesday for more than $2 billion in mortgage-backed securities purchased by a failed Texas bank.

from Byrd Mix http://ift.tt/1WFD5XY via byrd memphis developer


from Tumblr http://ift.tt/1TUmctQ

Mortgage lender Finance of America partners with Mike Ferry

Finance of America Mortgage, which boasts the backing of The Blackstone Group and recently splashed on the scene with a number of high-profile lender acquisitions, announced an affiliation with well-known real estate coach Mike Ferry and the Mike Ferry Organization.

from Byrd Mix http://ift.tt/1JrCfKE via byrd memphis developer


from Tumblr http://ift.tt/1NFUDNK

SoFi just became one of the country’s 30 largest banks

Thanks to a recent successful round of financing, online lender Social Finance, which recently expanded beyond its student loan refinancing products and moved into mortgage lending, is now one of the country’s 30 largest banks.

from Byrd Mix http://ift.tt/1K6Tbou via byrd memphis developer


from Tumblr http://ift.tt/1TUmcds

Here's why housing will survive rising interest rates

While the timing of when interest rates will rise is still in question, according to one chief economist, the housing market will not be devastated by the impact.

from Byrd Mix http://ift.tt/1LlxpPz via byrd memphis developer


from Tumblr http://ift.tt/1NFUDNE

No one wants "Real Housewives" stars’ $100 home at auction

The waterfront home of Teresa and Joe Giudice, stars of the Bravo series “Real Housewives of New Jersey,” went with absolutely no bids despite an opening bid of only $100.

from Byrd Mix http://ift.tt/1K6Tb8b via byrd memphis developer


from Tumblr http://ift.tt/1TUmcdg

FOMC: Uncertainty remains in timing of raising interest rates

The debate around when interest rates will rise continues as the release of the Federal Open Market Committee’s July 28-29 meeting minutes sheds more light on the decision to maintain the target range for the federal funds rate at 0% to 0.25%.

from Byrd Mix http://ift.tt/1hpUMeb via byrd memphis developer


from Tumblr http://ift.tt/1NFUBFI

Community lenders warn CFPB on TRID ‘black hole’

The Community Home Lenders Association is calling on the Consumer Financial Protection Bureau to address a potential “black hole” for lenders that could arise when the new Know Before You Owe mortgage disclosure rule, also called the TILA-RESPA Integrated Disclosures rule, takes effect on Oct. 3.

from Byrd Mix http://ift.tt/1fq4rQ4 via byrd memphis developer


from Tumblr http://ift.tt/1TUme4O

Dodd-Frank is killing America, one community bank at a time

Dodd-Frank may not have started the community bank hemorrhage, but it’s advent certainly induced hemophilia. The result? An acceleration in the decline of each and every American town without a “too big to fail” in its area.

from Byrd Mix http://ift.tt/1E4kwa0 via byrd memphis developer


from Tumblr http://ift.tt/1NFUBFy

New technology for correspondent lenders

Using a single platform technology, specifically designed for the due diligence and acquisition of closed loans, eliminates the expense related to the customization, integration and maintenance of a multi-system/multi-vendor approach.

from Byrd Mix http://ift.tt/1E4AfGj via byrd memphis developer


from Tumblr http://ift.tt/1JrMzlQ

You can now review every federal agency (even the CFPB) on Yelp

Thanks to a new agreement between the federal government and Yelp, anyone can now rate and post a review of any federal agency on the consumer review-driven website and app. The agencies can now claim their page on Yelp, read and respond to the unfiltered reviews, and even “incorporate that feedback” into improvements to its services.

from Byrd Mix http://ift.tt/1TVIwy3 via byrd memphis developer


from Tumblr http://ift.tt/1TX6hFW

The CEOs of Fannie and Freddie deserve a raise

Fannie Mae has returned $24.7 billion more than it received, and Freddie Mac has returned $25 billion more than it received. So Layton and Mayopoulos get $600,000 each for creating a $50 billion surplus, while the CEOs of GM and Ally made $9.5 million and $9 million when their companies still owed the government $32.1 billion. How does this make any sense?

from Byrd Mix http://ift.tt/1hpRLL1 via byrd memphis developer


from Tumblr http://ift.tt/1JrMzlO

FHFA releases future affordable housing goals for Fannie, Freddie

The Federal Housing Finance Agency revealed the official details of its final rule that establishes single-family and multifamily housing goals for Fannie Mae and Freddie Mac. Here are the details for 2015 through 2017.

from Byrd Mix http://ift.tt/1HW7RRp via byrd memphis developer


from Tumblr http://ift.tt/1TX6itf

Mortgage applications rise 3.6% on refinance activity

A surge in refinancings and international concerns pushing down on interest rates helped boost mortgage application activity for the week. Here’s what happened.

from Byrd Mix http://ift.tt/1ECcpfD via byrd memphis developer


from Tumblr http://ift.tt/1E3vJaR

Tuesday, August 18, 2015

MCS Valuations closing Utah office

MCS Valuations, a nationwide provider of appraisals, broker price opinions, and other valuation-related products to the financial services industry, announced Tuesday that it will be closing Utah office and consolidating its operations into several of its other locations.

from Byrd Mix http://ift.tt/1Jg6QEK via byrd memphis developer


from Tumblr http://ift.tt/1NsezFX

Rob Barber takes the reins as RealtyTrac’s new CEO

RealtyTrac, a provider of comprehensive housing data, welcomed a new chief executive officer this week, as Rob Barber took over for Jamie Moyle as CEO. Barber’s hiring was announced in late July, but he officially assumed the CEO role on Monday.

from Byrd Mix http://ift.tt/1URtnjB via byrd memphis developer


from Tumblr http://ift.tt/1NDRJsN

FHA continues push for expanded credit access

Furthering a program that was initially announced in May of last year, the Federal Housing Administration announced the implementation of one of the key facets of its “Blueprint for Access,” which is designed to expand credit access to underserved borrowers. Click through for all the details.

from Byrd Mix http://ift.tt/1MBhJYS via byrd memphis developer


from Tumblr http://ift.tt/1KuEJ5y

Let’s tap the brakes on this supposedly positive housing data

It’s been a very good week already for those who have a vested interest in reporting positive news regarding homebuilder confidence and housing starts, but these reports should be viewed as cautionary. There may be trouble lurking beneath these numbers.

from Byrd Mix http://ift.tt/1Kul1qH via byrd memphis developer


from Tumblr http://ift.tt/1NsezFL

Construction’s mixed July performance misses expectations

Did a change in New York permits skew the July construction and permit data, and what does it mean for the Federal Reserve’s plans on interest rates? Here’s what analysts are saying.

from Byrd Mix http://ift.tt/1J1exl6 via byrd memphis developer


from Tumblr http://ift.tt/1Nsex0J

Mortgage, realty and appraisal companies make Inc. 5000 list

The 2015 Inc. 5000 list of fastest growing companies includes a number of firms in the housing and mortgage finance space. Here’s a list of some of the top ones. Read on.

from Byrd Mix http://ift.tt/1MwRlha via byrd memphis developer


from Tumblr http://ift.tt/1KuEGa6

Bove: Dodd-Frank the “worst piece of legislation in modern history”

Richard Bove, an equity research analyst at Rafferty Capital Markets, doesn’t mince words, saying his initial judgement of Dodd-Frank as the worst piece of legislation in history was wrong: It’s actually worse than that.

from Byrd Mix http://ift.tt/1Jfd6g3 via byrd memphis developer


from Tumblr http://ift.tt/1NDRGxa

Fannie Mae offloads more credit risk to insurers

Seeking to further decrease the taxpayers’ liability, Fannie Mae announced Tuesday that it completed its third credit risk-sharing transaction as part of its Credit Insurance Risk Transfer program. Here are all the details of the latest deal.

from Byrd Mix http://ift.tt/1fnmDtI via byrd memphis developer


from Tumblr http://ift.tt/1KuEI1s

Mortgage defaults hold steady as bank, composites decline

Mortgage defaults held steady through July even as composite and bank card default rates declined. But four of the five major cities surveyed saw increases in defaults. Here’s a closer look.

from Byrd Mix http://ift.tt/1fn88pF via byrd memphis developer


from Tumblr http://ift.tt/1hLqbb0

CoreLogic: Cash sales drop to 32% of all home sales

Cash sales made up 31.9% of total home sales in May 2015, down from 35.1% in May 2014, according to CoreLogic. That’s the lowest it’s been pretty much since the housing crisis started. Want to know more?

from Byrd Mix http://ift.tt/1KuCM9l via byrd memphis developer


from Tumblr http://ift.tt/1KuEGa1

How United Wholesale Mortgage speeds up mortgage closing times

United Wholesale Mortgage released its latest tool, UClose, which will allow mortgage brokers to close their loans within an hour of receiving their clear to close.

from Byrd Mix http://ift.tt/1WCgpYD via byrd memphis developer


from Tumblr http://ift.tt/1hLqd2r

Home Depot up after company beats expectations on $24.8B 2Q sales

The Home Depot is having a good day on the Street after it beat analyst expectations in the second quarter with sales of $24.8 billion for the second quarter of fiscal 2015, a 4.3% increase from the second quarter of fiscal 2014 - all despite the big credit card data breach last September.

from Byrd Mix http://ift.tt/1LiOCsU via byrd memphis developer


from Tumblr http://ift.tt/1KuEG9W

Housing starts jump 10.1% in July but permits crater

The largest decline was for the multi-family components which soared last month catching up from the winter slows, while single-family building and permits fared better in July. Click through for more details on the mixed bag.

from Byrd Mix http://ift.tt/1Pxmv7W via byrd memphis developer


from Tumblr http://ift.tt/1hLqcM9

Monday, August 17, 2015

First Guaranty Mortgage adds Elliot Salzman as senior director

First Guaranty Mortgage Corporation announced the addition of Elliot Salzman as senior director of credit operations. Salzman joins FGMC from BBVA Compass Bank, where he was senior vice president, director of consumer policy and underwriting.

from Byrd Mix http://ift.tt/1DYZ2LT via byrd memphis developer


from Tumblr http://ift.tt/1JdN1Ov

Ginnie Mae just had its biggest month ever

Lest anyone think that the government’s position in housing isn’t more than firmly entrenched, Ginnie Mae announced last week that in July it set a record for mortgage-backed security issuance. Here are all the details.

from Byrd Mix http://ift.tt/1flDQ6O via byrd memphis developer


from Tumblr http://ift.tt/1MvkclS

Fitch: "All clear" call premature as oil muddies Houston housing

Given continued pressure on oil prices and recurring announcements of reductions in related employment and capital expenditures, many investors are wondering how the Houston housing market will perform. Here’s a clue.

from Byrd Mix http://ift.tt/1flmTt3 via byrd memphis developer


from Tumblr http://ift.tt/1JdN4JV

Bloomberg TV: Here's proof that real estate and housing are hot in one chart

The “proof that real estate and housing are hot in one chart” is delivered in one, easily digested video on Bloomberg TV and hosted by social media master Joe Weisenthal.

from Byrd Mix http://ift.tt/1MyfgOF via byrd memphis developer


from Tumblr http://ift.tt/1JdN1Op

CFPB offers new TRID tool for real estate agents and Realtors

Real estate agents and Realtors who don’t know what to expect from the Know Before You Owe mortgage initiative have a new tool courtesy the Consumer Financial Protection Bureau. TRID is coming, better be ready.

from Byrd Mix http://ift.tt/1hjI9S5 via byrd memphis developer


from Tumblr http://ift.tt/1MvkclQ

Cristiano Ronaldo pays big for loft in Trump Tower

One of world soccer’s most famous stars is coming to America – for at least some of the time anyway. Portugal’s Cristiana Ronaldo, who plays professionally at Real Madrid and is widely regarded as one of the top five soccer players in the world, reportedly purchased a pricey loft in New York City at the Trump Tower.

from Byrd Mix http://ift.tt/1WzC4ki via byrd memphis developer


from Tumblr http://ift.tt/1JdN4tF

New York comptroller: State’s foreclosure crisis far from over

Despite efforts to combat the glut of foreclosures that have choked New York’s court system and blighted many of the state’s neighborhoods, a new report from the New York comptroller shows that the state’s foreclosure crisis is nowhere close to being resolved – and in many cities, it’s actually getting worse.

from Byrd Mix http://ift.tt/1J0rSI9 via byrd memphis developer


from Tumblr http://ift.tt/1Mvk9Xd

Riddle me this: When is a raisin like Fannie, Freddie investment return?

The machinations that led to the GSE conservatorship and the fallout since is making more and more headlines, this time at the Daily Caller. Want to know more.

from Byrd Mix http://ift.tt/1My23pc via byrd memphis developer


from Tumblr http://ift.tt/1JdN1Oj

SoFi names Pinterest executive Joanne Bradford chief operating officer

San Francisco-based Social Finance, which recently expanded beyond its student loan refinancing products and moved into mortgage lending, announced the addition of Joanne Bradford as the company’s new chief operating officer.

from Byrd Mix http://ift.tt/1hjmr0v via byrd memphis developer


from Tumblr http://ift.tt/1hIn6IM

Monday Morning Cup of Coffee: Trouble brewing for mortgage bonds?

September brings with it the new school year and the threat/promise of an interest rate hike. But that’s not nearly the biggest concern for housing and mortgage finance right now. Want to know what is?

from Byrd Mix http://ift.tt/1MxkbiU via byrd memphis developer


from Tumblr http://ift.tt/1hIn3fR

This is exactly why title clearing is so underappreciated

A property investor took to Reddit for advice when their latest deal took a turn for the worst. “Whose fault is it if I find out there’s a $5k lien 1 day before closing?” Well, if you’d used title clearing services, you wouldn’t be in this position in the first place. Read on to see how it plays out.

from Byrd Mix http://ift.tt/1TPEtsk via byrd memphis developer


from Tumblr http://ift.tt/1hIn6IE

Maryland governor wants to limit landlord liability on lead paint

As if Maryland doesn’t have enough trouble, the governor there is worried that some parents may be abusing a landlord liability rule to game the system to ensure free housing.

from Byrd Mix http://ift.tt/1JmwkGV via byrd memphis developer


from Tumblr http://ift.tt/1IXHDSr

Homebuilder confidence rises in August to highest since November 2005

Builder confidence in the market for newly built, single-family homes in August rose one point to a level of 61 on the National Association of Home Builders/Wells Fargo Housing Market Index.

from Byrd Mix http://ift.tt/1DY0A8Z via byrd memphis developer


from Tumblr http://ift.tt/1IXHDSl

Rising home, construction prices knock a dent in affordability in 2Q

Firming home prices in many housing markets resulted in a modest drop in nationwide housing affordability in the second quarter of 2015, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index. Will this continue and what does it mean?

from Byrd Mix http://ift.tt/1KrwPK8 via byrd memphis developer


from Tumblr http://ift.tt/1hIn2Zn

TransUnion: Mortgage delinquency rates continue rapid decline

The mortgage delinquency rate — the rate of borrowers 60 days or more delinquent on their mortgages — continued its rapid decline, falling to 2.72% in Q2 2015. Find out what it means for lenders, the housing industry and you.

from Byrd Mix http://ift.tt/1Nn7jei via byrd memphis developer


from Tumblr http://ift.tt/1K1DH57

Sunday, August 16, 2015

House for sale because "neighbor's a douchebag"

A frustrated homeowner in a row with a neighbor has a unique strategy for dealing with his woes. Whether it sells the home is questionable, but it certainly is getting attention.

from Byrd Mix http://ift.tt/1NbskJM via byrd memphis developer


from Tumblr http://ift.tt/1fiz3mw

Virginia woman gets five years in prison for short sale scams

A Virginia woman will spend the next five years in federal prison after being convicted of 13 counts of mortgage fraud, passing fictitious financial instruments and tax fraud. According to the Department of Justice’s Tax Division, Charise Stone, 46, of Ashburn, Virginia, targeted distressed homeowners in a series of short sale scams.

from Byrd Mix http://ift.tt/1K04HSC via byrd memphis developer


from Tumblr http://ift.tt/1TKohs5

Friday, August 14, 2015

Wunderlich adds Rob Smialek as SVP of fixed income capital markets

According to a release from the company, Smialek will help lead growth in mortgage-backed security sales and whole loan trading with a focus on the U.S. residential mortgage banking community, banks, and credit unions.

from Byrd Mix http://ift.tt/1DRa6KT via byrd memphis developer


from Tumblr http://ift.tt/1fcW2PL

Mandatory registration for FHA’s appraisal portal begins Monday

Attention all mortgagees approved to do business with the Federal Housing Administration: mandatory registration for the FHA’s new Electronic Appraisal Delivery portal begins on Monday, Aug. 17. That’s today. Are you ready?

from Byrd Mix http://ift.tt/1DTex7D via byrd memphis developer


from Tumblr http://ift.tt/1fcW2zm

Calyx releases TRID-ready loan origination software

Calyx Software announced the release of a new version of its PointCentral loan origination software. According to a release from Calyx, PointCentral Version 9.2 allows lenders to originate loans and deliver TRID-compliant loan estimates and closing disclosures immediately.

from Byrd Mix http://ift.tt/1IOZMlh via byrd memphis developer


from Tumblr http://ift.tt/1Ld6C7R

Americans have never paid this much for rent before

America is a nice place to visit, but you can’t afford to rent there. Rents have never been this high and find out why. Read on.

from Byrd Mix http://ift.tt/1IOohPx via byrd memphis developer


from Tumblr http://ift.tt/1fcW4qT

Pre-crisis flashback: Lone Star bringing back risky mortgage bonds

In what’s being called “post-crisis milestone,” Lone Star Funds is reportedly preparing to sell mortgage bonds backed by riskier mortgages that fall outside of the Qualified Mortgage designation.

from Byrd Mix http://ift.tt/1hbyjkY via byrd memphis developer


from Tumblr http://ift.tt/1Ld6Dc3

Consumer sentiment unchanged in July

Consumer sentiment is little changed so far this month, at 92.9 for the mid-month August reading versus 93.1 for final July.

from Byrd Mix http://ift.tt/1NuJNtG via byrd memphis developer


from Tumblr http://ift.tt/1Ld6DbV

The Wrap: Appraisal volume declines slightly

The appraisal volume continued its slight downward trend dropping –0.62% nationally for the week beginning 8/2/15. Plus, the Electronic Appraisal Delivery is mandatory starting Monday. Are you ready?

from Byrd Mix http://ift.tt/1TC6tPO via byrd memphis developer


from Tumblr http://ift.tt/1fcW1eP

Inside the extortion scandal that’s rocking Miami high-end real estate

The world of high-end, luxury real estate has always been cutthroat, but an extortion scandal involving a team of Miami’s most well-known Realtors has taken things far past cutthroat. Here are all the sordid details.

from Byrd Mix http://ift.tt/1PqcauA via byrd memphis developer


from Tumblr http://ift.tt/1fcW1LG

Deutsche Bank, MassMutual settle RMBS lawsuit

A Deutsche Bank unit and Massachusetts Mutual Life Insurance Co. reached a settlement over residential mortgage-backed securities, with a federal judge signing off on the undisclosed terms Thursday.

from Byrd Mix http://ift.tt/1Ng0Dih via byrd memphis developer


from Tumblr http://ift.tt/1fcW1ve

Are you ready for the next wave of home equity lending?

With mortgage rates, home values and consumer confidence all trending upward, consumers are once again tapping into their home equity. Lenders who want to capitalize on this trend must respond to changes in the home equity line of credit (HELOC) and home equity loan market, including demand for 24/7 digital lending options.

from Byrd Mix http://ift.tt/1Eswntg via byrd memphis developer


from Tumblr http://ift.tt/1DTdy7m

RealtyTrac: Loan applications up 23% in 2Q from 2Q14

A total of 1,950,267 loans were originated on single-family homes and condos in the second quarter, up 22% from the previous quarter and up 23% from a year ago to the highest level since the third quarter of 2013. So while things are slowing, it’s better than last year. Here’s what’s happening.

from Byrd Mix http://ift.tt/1LafbR3 via byrd memphis developer


from Tumblr http://ift.tt/1J8mTZq

Thursday, August 13, 2015

HOA threatens homeowners with jail time over backyard playground

And now for the latest chapter in homeowner’s association versus homeowner drama, we present this story from Missouri. A Lee’s Summit family is being threatened with jail time over a playground they put up in their backyard, with the family’s neighborhood HOA objecting loudly to the color of the playground.

from Byrd Mix http://ift.tt/1J3c7zk via byrd memphis developer


from Tumblr http://ift.tt/1faWnCF

These are the 10 hottest U.S. housing markets by zip code right now

Forget 90210, these are the top housing markets by ZIP code in America. Did yours make the cut? (Woo hoo, Plano!) And if not, what do these have that your ZIP code doesn’t? We have it all. Read the latest data from Realtor.com.

from Byrd Mix http://ift.tt/1Wn5bHt via byrd memphis developer


from Tumblr http://ift.tt/1Tyf1Hz

Freddie Mac selling $1.2 billion pool of Ocwen-serviced loans

Freddie Mac announced Thursday that it is preparing to auction off a $1.2 billion pool of “deeply delinquent” non-performing loans. The loans are currently being serviced by Ocwen Financial.

from Byrd Mix http://ift.tt/1h7h4RS via byrd memphis developer


from Tumblr http://ift.tt/1faWpuk

Mortgage delinquencies, foreclosures continue to drop in 2Q15

The delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 5.3% of all loans outstanding at the end of the second quarter of 2015. This bodes well, but find out what is driving it. Read on.

from Byrd Mix http://ift.tt/1EpASol via byrd memphis developer


from Tumblr http://ift.tt/1faWnmd

Goldman Sachs to pay $272 million in toxic mortgage lawsuit

Goldman Sachs will pay $272 million to settle a lawsuit over losses suffered due to alleged misrepresentations of the quality of mortgage loans that backed crisis-era mortgage-backed securities. The lawsuit stretches back to 2008, when an Illinois electrical workers’ pension fund sued arguing that Goldman made false statements regarding the nature of mortgages it sold into trusts.

from Byrd Mix http://ift.tt/1DQUV48 via byrd memphis developer


from Tumblr http://ift.tt/1Tyf1aA

LendingTree: Here are our customers’ favorite 10 lenders

LendingTree, the online loan marketplace, recently released a list of the 10 lenders that its customers rated the highest during the second quarter. Click through to find out who made the list.

from Byrd Mix http://ift.tt/1UFyHGH via byrd memphis developer


from Tumblr http://ift.tt/1TyeYf0

Here's proof the housing recovery is no longer recovering

It seems the share of consumers who believe that “now is a good time to buy,” as spun by NAR, CAR, the MBA and other sources that surely have skin in the game to report strong housing performance (real or imagined), dropped 7 percentage points to 45%. It’s time to reset the recovery wristwatch.

from Byrd Mix http://ift.tt/1HJ99z7 via byrd memphis developer


from Tumblr http://ift.tt/1TyeVzR

Zillow promotes Svenja Gudell to chief economist

One of the most noted authorities on housing is about to take on an even larger as Zillow Group announced the promotion of Dr. Stan Humphries from Zillow chief economist to Zillow Group chief analytics officer and chief economist. To fill Humphries’ role, Zillow announced the promotion of Dr. Svenja Gudell from her position as Zillow’s senior director of economic research to chief economist for Zillow.

from Byrd Mix http://ift.tt/1ILe4DB via byrd memphis developer


from Tumblr http://ift.tt/1TyeVzI

Ocwen survives Wells Fargo vote on termination of servicing rights

Ocwen Financial’s journey out of the woods continues, with the company surviving a vote by Wells Fargo certificate holders to terminate Ocwen’s servicing rights on 12 deals. Here’s what happened and how the vote broke out.

from Byrd Mix http://ift.tt/1IO6Xbi via byrd memphis developer


from Tumblr http://ift.tt/1TyeVjk

MBA: Applications for new home purchases dropped in July

Mortgage applications for new home purchases decreased by 4% in July relative to the previous month, as spring increases in rates may have dissuaded some buyers. Worrying or expected?

from Byrd Mix http://ift.tt/1L8pBQU via byrd memphis developer


from Tumblr http://ift.tt/1faWn5x

Trending Thursday: End Fannie, Freddie — because big banks will fill the void, right?

Should we trust that the Too Big To Fails, which — rightfully — want to squeeze out every bit of profit possible for shareholders, with housing entirely? (People who think mortgage banking is boring probably say the same about baseball.) And what do China bankers have to do with rate hikes here? Find out inside.

from Byrd Mix http://ift.tt/1gDK5Ut via byrd memphis developer


from Tumblr http://ift.tt/1faWm1E

Mortgage rates reverse course moving higher

Average fixed mortgage rates reversing course and nudging higher for the first time in four weeks, according to Freddie Mac. While general factors in the domestic economy support an end of September rate hike, foreign concerns make it questionable. Want to know why?

from Byrd Mix http://ift.tt/1h5VFbR via byrd memphis developer


from Tumblr http://ift.tt/1TyeWUc

Wednesday, August 12, 2015

Ex-NFL star and his 74-year-old mother convicted of mortgage fraud

Irving Fryar, who spent 16 years in the National Football League, starring for the New England Patriots, Miami Dolphins and Philadelphia Eagles during his career, was found guilty last week along with his 74-year-old mother of conspiracy and theft of deception.

from Byrd Mix http://ift.tt/1DNVvzq via byrd memphis developer


from Tumblr http://ift.tt/1KiqLDM

Altisource Residential triples rental portfolio in massive deal with Invitation Homes

More than 1,300 single-family rental homes in the Atlanta area will soon have a new owner, as Altisource Residential announced its intentions to purchase a massive portfolio of rental houses from Invitation Homes. Here are the details.

from Byrd Mix http://ift.tt/1L6Dc8H via byrd memphis developer


from Tumblr http://ift.tt/1N4wmUn

CrossCheck Compliance welcomes Liza Warner back as managing director

CrossCheck Compliance, a nationwide consulting firm providing internal audit, regulatory compliance, fair lending, and loan review services exclusively to organizations in the financial services industry, announced the addition of Liza Warner as managing director.

from Byrd Mix http://ift.tt/1P7yJTQ via byrd memphis developer


from Tumblr http://ift.tt/1KiqLDG

Trulia: Where schools matter and where they don’t in homebuying

Either schools are of critical importance to a homebuyer, or they matter not at all. There’s very little middle ground because either homebuyers have kids or they don’t. Here’s what Trulia found.

from Byrd Mix http://ift.tt/1TrDWg1 via byrd memphis developer


from Tumblr http://ift.tt/1N4wovi

Fitch: U.S. housing demand pendulum swinging back to city centers

Amid stabilizing U.S. home price growth lies a demographic shift that is underway across much of the country, according to Fitch Ratings in its latest quarterly U.S. RMBS Sustainable Home Price Report. So are the suburbs out and the inner city in? Questionable.

from Byrd Mix http://ift.tt/1WjDCyL via byrd memphis developer


from Tumblr http://ift.tt/1KiqLnq

Wells Fargo mortgage leader Michael Heid retiring

Wells Fargo, the country’s largest mortgage lender, is about to have a new person leading its mortgage division for the first time in 11 years, as Michael Heid announced his retirement. He will be replaced by a familiar face, Franklin Codel, currently the bank’s executive vice president and head of mortgage production.

from Byrd Mix http://ift.tt/1J4sSyw via byrd memphis developer


from Tumblr http://ift.tt/1N4wmUh

Judge: Trade secrets theft claim against Zillow can proceed

A California federal judge dismissed two of the claims in the ongoing lawsuit between Top Agent Network and Zillow, but let stand the main trade secrets claim that is the linchpin of the lawsuit.

from Byrd Mix http://ift.tt/1JU5swD via byrd memphis developer


from Tumblr http://ift.tt/1KiqLnm

Survey: 52% of Americans likely to buy a home in next five years

Just over half of Americans — 52% — say they are likely to buy a home in the next five years, and three quarters of current homeowners set a budget before looking for a new home. Want to know more?

from Byrd Mix http://ift.tt/1P7lcM1 via byrd memphis developer


from Tumblr http://ift.tt/1N4wmUf

Ex-CFPB Deputy Director Antonakes resurfaces with Eastern Bank

Steven Antonakes, who resigned last month from his position as the deputy director of the Consumer Financial Protection Bureau, has found his next role, and it’s one in which he should be able to utilize his experience and expertise — chief compliance officer.

from Byrd Mix http://ift.tt/1Nap4xq via byrd memphis developer


from Tumblr http://ift.tt/1KiqJf3

CoesterVMS, loanDepot among Inc.’s 5000 fastest growing firms

CoesterVMS is one of the housing-related companies that made Inc.’s 500/5000 list, for the second year in a row. Want to see who else in the industry made the cut?

from Byrd Mix http://ift.tt/1Nap4xr via byrd memphis developer


from Tumblr http://ift.tt/1N4wmUd

Police suspect rape attacker targeted another Realtor

Police in Manatee County, Florida, arrested the suspect in an attempted rape of a Realtor at a home showing on Monday. Now they think he may have targeted a second Realtor that same day. Read on.

from Byrd Mix http://ift.tt/1Mkaa77 via byrd memphis developer


from Tumblr http://ift.tt/1KiqLnk

NAMB endorses Mortgage Fairness Act of 2015

It’s a bill that would allow low- and moderate-income consumers and homebuyers some flexibility in the loan they choose to buy a home in order to have better cash flow at the time of closing. Is it a good idea? NAMB thinks so.

from Byrd Mix http://ift.tt/1f7ReLL via byrd memphis developer


from Tumblr http://ift.tt/1N4woeT

Mortgage applications land flat for week

Mortgage applications increased 0.1% from one week earlier, with the bump in refinancings unable to pull the drop in purchase apps much into the black. Here’s what happened.

from Byrd Mix http://ift.tt/1h2iD3F via byrd memphis developer


from Tumblr http://ift.tt/1hxB1RR

Tuesday, August 11, 2015

Altisource hires two new senior leadership roles

Altisource Portfolio Solutions, a provider of mortgage, financial and technology services, hired Riccardo Brizzi as chief client officer and Kirk Willison as senior vice president of government and industry relations.

from Byrd Mix http://ift.tt/1Jb2m8A via byrd memphis developer


from Tumblr http://ift.tt/1N1RDxR

TRID pushes Wells Fargo out of home equity loans

Wells Fargo stopped offering closed-end home equity loans in light of the upcoming TILA-RESPA Integrated Disclosure Rule taking effect on Oct. 3. But, right as Wells Fargo decides to exit the home equity loan business, one nonbank is excited to announce its venture in.

from Byrd Mix http://ift.tt/1J2B96d via byrd memphis developer


from Tumblr http://ift.tt/1KgOGU2

Gap between appraiser, homeowner perceptions doubles in July

Appraiser opinions of home values were 2.33% lower than homeowner estimates in July, nearly double what they were just a month earlier. Someone’s not being realistic.

from Byrd Mix http://ift.tt/1N7QRyB via byrd memphis developer


from Tumblr http://ift.tt/1KgOGDK

Is Facebook going to be the new FICO in mortgage lending?

Well, Facebook has pioneered social media, intrusive data collection, selling user data to third parties, potentially illegal psychological testing on humans, and the push for amnesty for illegal aliens. So why not jump into mortgages?

from Byrd Mix http://ift.tt/1UBq1B5 via byrd memphis developer


from Tumblr http://ift.tt/1KgOGDA

Study: CFPB plan to regulate arbitration will hurt borrowers

The Consumer Financial Protection Bureau intends to aggressively regulate arbitration agreements in mortgage and other consumer credit contracts, and a new study says it’s a terrible idea based on the CFPB’s own findings.

from Byrd Mix http://ift.tt/1MijyYX via byrd memphis developer


from Tumblr http://ift.tt/1N1RFG8

United Wholesale Mortgage speeds up mortgage closing times

United Wholesale Mortgage released its latest tool, UClose, which will allow mortgage brokers to close their loans within an hour of receiving their clear to close.

from Byrd Mix http://ift.tt/1h0LghB via byrd memphis developer


from Tumblr http://ift.tt/1KgOHHH

Realtor escapes rapist posing as homebuyer

A man posing as a client attacked and tried to rape a Realtor while showing a home, but her quick thinking and training allowed her to escape. Here’s how the terrifying ordeal went down.

from Byrd Mix http://ift.tt/1P3OGKJ via byrd memphis developer


from Tumblr http://ift.tt/1N1RFFY

CoreLogic: 43,000 foreclosures complete in June 2015

The national foreclosure inventory declined by 28.9% and completed foreclosures declined by 14.8% since June 2014, according to the June report from CoreLogic. Are things on track or are we between waves?

from Byrd Mix http://ift.tt/1ICxb2E via byrd memphis developer


from Tumblr http://ift.tt/1KgOG6G

TransUnion: Credit unions go big in mortgage originations

The appetite for credit unions to provide mortgage loans appears to be greater than other financial institutions in both prime and subprime originations.

from Byrd Mix http://ift.tt/1Kfp61J via byrd memphis developer


from Tumblr http://ift.tt/1TouOmY

HUD settles with two Texas lenders over mortgage violations

The U.S. Department of Housing and Urban Development’s Mortgagee Review Board settled with two Texas lenders due to allegations they violated mortgage regulations, with HUD fines totalling nearly $400,000.

from Byrd Mix http://ift.tt/1gukVaL via byrd memphis developer


from Tumblr http://ift.tt/1gZmEWu

CompassPoint: PennyMac a rare servicing growth story

Compass Point Research & Trading is positive on PennyMac Financial Services raising their price target to $23 from $21 following the company’s release of its second quarter earnings.

from Byrd Mix http://ift.tt/1WduhIS via byrd memphis developer


from Tumblr http://ift.tt/1TouO6s

Blackstone mortgage venture set to become largest nonbank lender?

Finance of America Holdings, a Blackstone portfolio company, revealed that it snatched up several major lenders, potentially placing it as one of the nation’s largest nonbank mortgage originators. But, the company won’t stop there.

from Byrd Mix http://ift.tt/1Wduk7h via byrd memphis developer


from Tumblr http://ift.tt/1gZmH4C

Monday, August 10, 2015

loanDepot expansion plans now include home equity loans

loanDepot is once again making waves in the industry. After breaking the news that it was moving into personal loans earlier this year, this latest move from the nonbank creates an even larger and more diversified suite of products for the company.

from Byrd Mix http://ift.tt/1gXU73E via byrd memphis developer


from Tumblr http://ift.tt/1P22Yvs

Auction.com warns on slow existing July home sales

The last half of July did not match the first half, and that means a big change in what Auction.com was expecting for existing home sales. Their forecast is the earliest one out of the gate, so it could spell big trouble. Read on.

from Byrd Mix http://ift.tt/1MlsM8h via byrd memphis developer


from Tumblr http://ift.tt/1MYZBrK

California wildfires put more than 900 homes at risk

Almost 930 homes in Northern California are at some degree of serious risk from the Rocky Wildfire, representing a reconstruction cost of more than $221 million. How does that break out? Here’s how.

from Byrd Mix http://ift.tt/1IzoYMy via byrd memphis developer


from Tumblr http://ift.tt/1P22WUx

MGIC: Mortgage delinquencies slowly trend lower

Primary new insurance for July remained level at $4.5 billion. July started with 66,357 loans in its primary delinquent inventory, and while small, the downward trend in delinquencies at the end of the month did continue.

from Byrd Mix http://ift.tt/1TgaadV via byrd memphis developer


from Tumblr http://ift.tt/1MYZzQu

Can this sickly housing recovery survive without artificially low interest rates?

The housing recovery, like the economy in general, has been like the proverbial 98-pound weakling. Will an interest rate hike be the bully that kicks sand in his face?

from Byrd Mix http://ift.tt/1MkZR4m via byrd memphis developer


from Tumblr http://ift.tt/1P22WUq

Walter Investment Management posts 2Q loss of $12.9M

Despite the loss in the quarter, Walter Investment Management is digging itself out of hole, and saw strong gains in servicing even as it saw a decline in originations. The company beat expectations on earnings per share. Want to know more?

from Byrd Mix http://ift.tt/1J62fv4 via byrd memphis developer


from Tumblr http://ift.tt/1MYZzQp

Monday Morning Cup of Coffee: CoreLogic’s purchase of LandSafe confirmed

What was a confirmed rumor is now confirmed fact: CoreLogic is the proud new owner (as soon as it closes) of LandSafe. Plus, the outlook for investing in MBS, what to expect when you’re expecting a rate hike, and more.

from Byrd Mix http://ift.tt/1TciGe7 via byrd memphis developer


from Tumblr http://ift.tt/1Te88Lo

Friday, August 7, 2015

Consumers don’t think it’s the right time to buy

The percentage of consumers who believe it is a good time to buy dropped to an all-time survey low right as summer is about to come to a close. What’s stopping them from jumping in, and should the industry be concerned?

from Byrd Mix http://ift.tt/1J1AjIx via byrd memphis developer


from Tumblr http://ift.tt/1Uut65R

4 Misconceptions buyers have about down payments

When consumers begin to consider homeownership, they often get stuck at the down payment. However, many buyers, especially first-timers, subscribe to some untruths about down payments and it may be keeping them on the sidelines for much longer than needed. Here is the truth.

from Byrd Mix http://ift.tt/1J1Ah3z via byrd memphis developer


from Tumblr http://ift.tt/1Uut7XE

3 Takeaways from the TRID trenches

The regional nature of the settlement process is partly why settlement has not evolved into a more standardized practice. As settlement professionals adjust to TRID, many are finding and implementing new best practices from across the country. The result is a subtle evolution toward more alignment in settlement processes.

from Byrd Mix http://ift.tt/1hnKnQ3 via byrd memphis developer


from Tumblr http://ift.tt/1W720Uh

Watch these comical banking intern exit interviews

From the same bank that brought you great hits like the President’s Day video, Central National Bank is at it again, this time filming its intern exit videos. Is this what your interns are like?

from Byrd Mix http://ift.tt/1KVVlJa via byrd memphis developer


from Tumblr http://ift.tt/1Uut7XC

The production challenges beyond TRID

If the mortgage industry is serious about addressing the longer closing times created by TRID, not to mention attracting millennials as potential homebuyers and/or employees, it has got to get with the times. And the times? They are digital.

from Byrd Mix http://ift.tt/1HvIN3x via byrd memphis developer


from Tumblr http://ift.tt/1W720Ub

Bank of America selling $1.2B in delinquent home loans

Investors are hungry for delinquent home loans, a growing demand that Bank of America is ready to meet. The mega bank is selling $1.2 billion of mostly delinquent home loans. Who will get to call dibs?

from Byrd Mix http://ift.tt/1MaoKOv via byrd memphis developer


from Tumblr http://ift.tt/1W71Yvv

Beverly Hills home goes on sale for $29 Million

A roughly 12,000-square-foot house that has a movie theater and a bulletproof safe room is going on sale in Beverly Hills for $29 million. Not exactly a record high, but it’s fully loaded and just pure house porn. Take a look.

from Byrd Mix http://ift.tt/1Hvumwi via byrd memphis developer


from Tumblr http://ift.tt/1Ir5No4

The Wrap: Appraisal volume down in last week of July

The national appraisal volume dropped in the last week of July, which could be expected given the volume of mortgage applications being down. This plus other appraisal news ahead.

from Byrd Mix http://ift.tt/1Ma7DMy via byrd memphis developer


from Tumblr http://ift.tt/1SZUZp0

Mortgage firm owner pleads guilty to $64M mortgage fraud scheme

A Miami-area real estate developer and owner of a mortgage company, his business partner and a senior mortgage underwriter each pleaded guilty to a mortgage fraud scheme involving federally insured mortgages that caused losses of $64 million to the Federal Housing Administration. You know you want to know more.

from Byrd Mix http://ift.tt/1ISbrBb via byrd memphis developer


from Tumblr http://ift.tt/1Ir5KIS

July employment report misses analyst expectations

The July employment report came in below the expected 225,000 print at 215,000, down from the upward revised June 231,000 number, and down from the 260,000 number in May. Will it be enough to support an interest rate hike?

from Byrd Mix http://ift.tt/1gPkhWc via byrd memphis developer


from Tumblr http://ift.tt/1DzLSnW

Thursday, August 6, 2015

Impac Mortgage’s profits rebound from last year’s low

Impac Mortgage Holdings significantly rebounded from a year ago, reporting second-quarter net earnings of $16.8 million, or $1.33 per diluted common share, compared to net earnings of $82 thousand or $0.01 per diluted common share for the second quarter of 2014.

from Byrd Mix http://ift.tt/1gNJZKB via byrd memphis developer


from Tumblr http://ift.tt/1JPWdgZ

Mortgage fraud sentencing for New Jersey family

A New Jersey family was sentenced in a $2 million scam that involved mortgage fraud, theft by deception and money laundering.

from Byrd Mix http://ift.tt/1HtTP9l via byrd memphis developer


from Tumblr http://ift.tt/1MUFE4e

MBA: Mortgage credit availability recovers after June’s drop

Mortgage credit availability recovered in July after stalling last month, according to the latest index. The following charts show how the four component indices fared.

from Byrd Mix http://ift.tt/1OTCooi via byrd memphis developer


from Tumblr http://ift.tt/1eWDnrt

Fed Gov. Powell: Nothing is decided with interest rates

The jury is still out on when the Federal Reserve will raise rates, and according to Fed Governor Jerome Powell, nothing has been decided, including where he stands on the issue.

from Byrd Mix http://ift.tt/1EbQI5N via byrd memphis developer


from Tumblr http://ift.tt/1eWDmE2

Sources say Bank of America sold LandSafe to CoreLogic

Bank of America sold its appraisal management company LandSafe to CoreLogic for $70 million, according to industry sources. This answers industry speculation about a sale that first broke out in May.

from Byrd Mix http://ift.tt/1JPd6Iy via byrd memphis developer


from Tumblr http://ift.tt/1eWDnb5

Trending Thursday: Will the jobs report be a blow to housing, rate hikes?

What happens if tomorrow’s job report tanks as badly as the coming Fantastic Four movie reboot will? And how much is Treasury going to keep siphoning off GSE profits like a loan shark? For this and more, read on.

from Byrd Mix http://ift.tt/1IQxMiD via byrd memphis developer


from Tumblr http://ift.tt/1SX8oOB

Court issues stay in PHH's $109.2M CFPB penalty

A D.C. Circuit panel has issued a stay against a $109.2 million fine levied against PHH Corp. by the Consumer Financial Protection Bureau’s director, Richard Cordray. So the CFPB’s “final ruling” may not be so final. Read on.

from Byrd Mix http://ift.tt/1SX7TnI via byrd memphis developer


from Tumblr http://ift.tt/1eWDmnq

Higher rates boost Annaly’s earnings

Annaly Capital Management posted a second-quarter GAAP net income of $900.1 million, or $0.93 per average common share. Annaly’s CEO noted that this is a strong reminder of the positive impacts higher rates can have on earnings.

from Byrd Mix http://ift.tt/1gMWCWa via byrd memphis developer


from Tumblr http://ift.tt/1P8Q93k

Distressed sales accounted for 10% of homes sold nationally in May 2015