Thursday, March 31, 2016

Fannie Mae certifies eOriginal as an eMortgage solutions provider

The mortgage industry is going digital and Fannie Mae is following suit. In a new move, the GSE announced it named eOriginal as an eMortgage technology solution provider, in an effort to bring greater transparency to the mortgage process.

from Byrd Mix http://ift.tt/1TlZk4M via byrd memphis developer


from Tumblr http://ift.tt/1qlF8Vr

REthink: An open letter from Millennials to the real estate industry

According to a recent blog from REthink, Millennials focus heavily on social media, especially when it comes to real estate. The blog, called “an open letter from Millennials to the real estate industry,” focused on how to better connect with this generation.

from Byrd Mix http://ift.tt/1X0Yd9G via byrd memphis developer


from Tumblr http://ift.tt/1X1iiNf

AIG plans to take mortgage insurer United Guaranty public

Ceding to pressure from activist investors, American International Group plans to take its mortgage insurer, United Guaranty, public later this year. AIG cites several reasons why the United Guaranty is poised to succeed in the future, including the “improving fundamentals of the housing market,” “favorable long-term demographic drivers,” and “higher credit quality of new mortgage originations.”

from Byrd Mix http://ift.tt/1ophFB0 via byrd memphis developer


from Tumblr http://ift.tt/1qlF9J0

Mason-McDuffie Mortgage fundraiser rescues San Francisco nuns' homeless program

Mason-McDuffie Mortgage created a GoFundMe account at the beginning of February after it heard of two San Francisco Bay Area nuns who were being threatened with eviction from the residence they use to feed the homeless due to a rent increase. They couldn’t have imagined the amount of support they would get, including help from one famous donor.

from Byrd Mix http://ift.tt/1MF3Bir via byrd memphis developer


from Tumblr http://ift.tt/1X1ifRJ

These are the best places for Millennials to rent

RealtyTrac released a new study that includes helpful interactive tables portraying the best markets to rent to Millennials. Investors may want to check out these areas when deciding where to buy next.

from Byrd Mix http://ift.tt/1PI6rxO via byrd memphis developer


from Tumblr http://ift.tt/1qlF8Vl

Ten-X predicts an increase in March existing home sales

March is projected to bring positive news after February’s drop in existing-home sales. While the predictions show improvement for March, Tex-X claims the market still has a long way to go to catch up.

from Byrd Mix http://ift.tt/1Y2EN4w via byrd memphis developer


from Tumblr http://ift.tt/1X1igoE

Freddie Mac: 2016 will be housing's best year in a decade

Inventory and affordability challenges will not prevent 2016 from having the best housing market since 2006, according to a forecast by Freddie Mac. While interest rates will remain low, housing starts, home prices and mortgage originations are all set to increase.

from Byrd Mix http://ift.tt/1q6AH0X via byrd memphis developer


from Tumblr http://ift.tt/1qlF9IU

AMI to CFPB: Don't ignore investor concerns, TRID does cause issues

The initial shockwave from TRID is over, replacing fears and worries with solid evidence of what the new rule is doing to the industry, a new letter from the Association of Mortgage Investors reveals. The CFPB did touch on this investor issue last year, but its solution was to simply tell them they’re overreacting. It was not enough.

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


from Tumblr http://ift.tt/1X1igoy

C2C Title Services acquired by ARMA Acquisition

ARMA Acquisition, an international investment group managing a portfolio of complementary service providers to the financial services, real estate and legal services industries, announced the acquisition of C2C Title Services, a nationwide provider of title information products and related services to the mortgage, legal, financial and underwriter communities.

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


from Tumblr http://ift.tt/1qlF9sC

CMG Financial incorporates appraisals using Global DMS tech

By using the Global DMS eTrac platform, CMG Financial’s contacts to multiple AMCs will become centralized, thereby establishing a seamless workflow. Further, they say, the new tech will help ensure loan quality and compliance.

from Byrd Mix http://ift.tt/1UF7s27 via byrd memphis developer


from Tumblr http://ift.tt/1X1ifRx

SEC claims brothers targeted elderly with real estate Ponzi scheme

A pair of brothers promised “guaranteed monthly income” to senior citizens in exchange for investing in real estate, but instead of providing the approximately 30 “elderly and unsophisticated” investors with returns on their investments, Matthew and Daniel Rivera pocketed the investors’ money and used some it to pay back other investors. This is how the SEC claims it went down.

from Byrd Mix http://ift.tt/1M3yMnv via byrd memphis developer


from Tumblr http://ift.tt/1qlF9sw

Idaho becomes latest state to adopt comprehensive AMC laws

Appraisal management companies that operate in the state of Idaho will soon have a wide-ranging set of regulations they are required to adhere to, thanks to new legislation that Gov. Butch Otter signed into law last week.

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


from Tumblr http://ift.tt/1X1ifRs

Survey: Most homebuyers would prefer to purchase their home online

Homebuyers want to go digital. A new survey found that homebuyers are willing to go online and handle more elements of the real estate process themselves in order to save time and money, and this trend is only expected to continue this year and beyond.

from Byrd Mix http://ift.tt/1Uureg8 via byrd memphis developer


from Tumblr http://ift.tt/1qlF9sq

Freddie Mac: Mortgage rates remain low, unchanged

Mortgage rates remained stagnant and low for the week ending March 31 and in a speech this week, Janet Yellen said inflation has not yet proven durable against the backdrop of looming global risks to the U.S economy.

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


from Tumblr http://ift.tt/1X1idcw

These are the best and worst markets for buying rentals

RealtyTrac’s new report and interactive maps for the first quarter of 2016 show some of the best and worst markets. And judging by the study, some real estate investors might need to cast a wider geographic net.

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


from Tumblr http://ift.tt/1V8NXNN

Five Californians plead guilty to mortgage modification scam

Five men indicted in October 2015 on illegal use of U.S. Treasury Seals and fake TARP information to deceive homeowners nationwide, all pled guilty and face up to 20 years in prison. Here’s how it all went down.

from Byrd Mix http://ift.tt/1MCb7dV via byrd memphis developer


from Tumblr http://ift.tt/1WZk5Cy

Here are the 20 hottest housing markets exploding this spring

Barely ten days into spring and the housing market is already on fire. The good news is inventory is starting to pick up, and while it may be small, it’s much needed growth. This time around the hottest 20 housing market list has new meaning given the market as a whole is moving so fast, making these markets extra hot.

from Byrd Mix http://ift.tt/1ZLQ8aL via byrd memphis developer


from Tumblr http://ift.tt/1V8NXNF

Home prices improve while former homeowners continue to struggle

In a recent article from BloombergView, writer Mark Whitehouse shares why people are still reeling in from the 2000’s housing crisis. Do you agree with him?

from Byrd Mix http://ift.tt/1q3brsu via byrd memphis developer


from Tumblr http://ift.tt/1WZk2GG

[Video] Massive sinkhole in Florida forces mobile home evacuation

The sinkhole problem (this is a real problem) in Florida isn’t going away. Actually it’s getting worse. Several residents were forced to evacuate their mobile homes after a new sinkhole opened up. Of course, this problem came as no surprise.

from Byrd Mix http://ift.tt/25xYyXp via byrd memphis developer


from Tumblr http://ift.tt/1V8NZ89

Freddie Mac unveils 'game-changing' tools to boost mortgage lenders

Freddie Mac is set to unveil a suite of new tools providing lenders with “actionable feedback” throughout the loan production process, thereby helping lenders lend more often and with more confidence. “We think it’s going to a game-changer for the industry,” Chris Boyle, senior vice president and head of single-family sales & relationship management at Freddie Mac, told HousingWire in an interview.

from Byrd Mix http://ift.tt/232J8YZ via byrd memphis developer


from Tumblr http://ift.tt/1WZk2GE

America's real estate deemed safe for foreign investment

A recent press release points to U.S. real estate as particularly sound given the current overall uncertain climate globally. And while the release is short on solid data, the talking points bear reading.

from Byrd Mix http://ift.tt/1MBQ4bi via byrd memphis developer


from Tumblr http://ift.tt/1V8NYRT

Appraisal volume recovers after a 'sour' end to winter

Appraisal volume finished the winter on the low note, with the 4-week moving average tumbling due to a drop in volume. This week redeemed that and set a strong pace for the spring.

from Byrd Mix http://ift.tt/1RLj904 via byrd memphis developer


from Tumblr http://ift.tt/1WZk2qo

Fannie Mae introduces loan option for clean energy homes

As the demand for solar power and energy efficiency rises, Fannie Mae announced new mortgage products to finance these options. The loans will give borrowers the ability to complete clean energy upgrades for up to 15% the appraised value of the home.

from Byrd Mix http://ift.tt/1pLg5dM via byrd memphis developer


from Tumblr http://ift.tt/1V8NYRK

Affordable homes in Dallas? Good luck with that…

With an estimated 11,000 people moving to Dallas each month due to the booming job market, it’s pretty much common knowledge that starter homes are disappearing. But exactly how bad is it for first time homebuyers?

from Byrd Mix http://ift.tt/1V5zMcc via byrd memphis developer


from Tumblr http://ift.tt/1WZk2qe

March adds 200,000 jobs in slight decrease from February

The job market decreased slightly as recent job reports record a marginally drop in employment from February to March. But how deep is the impact on the mortgage servicing community?

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


from Tumblr http://ift.tt/1V8NYBo

DocMagic officially launches total eClosing solution

DocMagic formally launched its total eClosing solution. The lending document provider claims eClosing will be simple to implement, delivering a full, paperless closing process.

from Byrd Mix http://ift.tt/1RyCEd3 via byrd memphis developer


from Tumblr http://ift.tt/1WZk2q9

Wednesday, March 30, 2016

Mortgage portfolio at national banks continues to dissipate

While the mortgage market is improving according to a new report from the Office of the Comptroller of the Currency, it only focuses on eight of the largest national banks. Looking over the past two years, their grip on the mortgage market is starting to loosen.

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


from Tumblr http://ift.tt/1om7ops

Pro Teck announces new product to enhance appraisal quality

Whereas some current tools identify appraisal risk post-delivery, Pro Teck’s new tool will be able to identify the risk before the appraisal is submitted. The product’s aim is to reduce wasteful communication cycles between the appraiser, appraisal management software and the client for correction, clarification and confirmation.

from Byrd Mix http://ift.tt/22O2Rz4 via byrd memphis developer


from Tumblr http://ift.tt/1VTro0j

MBA: Refinance activity nows sits at barely more than half of mortgage apps

The market right now is primed for a surge in refinance demand, given the record-low interest rates and millions of eligible borrowers, yet the latest data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey is painting a very different picture.

from Byrd Mix http://ift.tt/1olFv0z via byrd memphis developer


from Tumblr http://ift.tt/1om7opb

Study: Home values increase when solar panels get installed

Homebuyers question the effect solar energy would have on their home value. A new study across six states suggests that it could increase the price of the home, but raises serious questions concerning the methodology of the appraisers, especially in areas where there are no comparable home sales.

from Byrd Mix http://ift.tt/1V2leKo via byrd memphis developer


from Tumblr http://ift.tt/1VTro0d

This new map shows where investors face greatest risk of fracking earthquakes

Fracking also presents a number of risks for lenders, servicers, investors and other mortgage market participants. One of those risks is an increase in earthquakes, and a new report from the USGS details the areas of the country that are the most at risk for “human-induced” earthquakes.

from Byrd Mix http://ift.tt/1MzID4s via byrd memphis developer


from Tumblr http://ift.tt/1om7qxq

Tuesday, March 29, 2016

Don’t miss the HousingWire 2016 Women of Influence!

HousingWire’s mantra is “moving markets forward,” but we couldn’t do this without the significant contributions of women in both mortgage banking and real estate who forge new paths for the industry. As fast as the market is changing, so are the woman who are defining where it will go. Whether it’s someone influential you know, or you, don’t miss out on honoring them in HousingWire’s 2016 Woman of Influence list.

from Byrd Mix http://ift.tt/22Z2huR via byrd memphis developer


from Tumblr http://ift.tt/1RIP4yj

Man builds Harry Potter-esque cupboard to afford living in San Francisco

Living in San Francisco is expensive, that’s pretty much common knowledge at this point, but one local resident is going to extreme, bordering on comical, measures to afford life in the Bay Area.

from Byrd Mix http://ift.tt/22LT8Ji via byrd memphis developer


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

CFPB: Mortgages no longer in top spot for complaints

Since starting to accept complaints in 2011, the Consumer Financial Protection Bureau received more complaints related to mortgages than any other category, until this month. In some states, however, mortgages continue to be the No. 1 complaint.

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


from Tumblr http://ift.tt/1RIP3dF

Radian launches homebuyer education website for consumers

It’s no surprise that various entities maintain homebuyer education tools available for consumers, including the Consumer Financial Protection Bureau, Fannie Mae, the Mortgage Bankers Association, and others. But a new homebuyer education tool is coming, from another source – a private mortgage insurer.

from Byrd Mix http://ift.tt/1SkJ2nV via byrd memphis developer


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

Yellen: Fed should proceed with caution on future interest rate hikes

In her first comments since the Fed decided to hold rates steady two weeks ago, all eyes were on Federal Reserve Chair Janet Yellen this morning during her speech to the Economic Club of New York. People listened for any insight on when the Fed would raise interest rates.

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


from Tumblr http://ift.tt/1RIP4yb

What's the fastest way to improve your credit score?

Experian recently hosted a video on improving credit scores. Loan officers in the mortgage finance industry are well-aware of the credit challenges many potential homebuyers face. Need to direct clients to some decent advice on improving their scores? This article will do the trick.

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


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

S&P/Case-Shiller: Home prices up 5.7%

In the latest home price report from S&P/Case-Shiller, home values continued to rise in January. Furthermore, S&P’s managing director and Zillow’s chief economist project if first-time homebuyers should expect a tough time buying into this market.

from Byrd Mix http://ift.tt/1UTfZ0X via byrd memphis developer


from Tumblr http://ift.tt/1RIP2Xa

Monday, March 28, 2016

iEmergent founder Dennis Hedlund passes away

Hedlund passed away late Saturday night at the age of 66. “Dennis was a man of keen intellect and of intellectual curiosity. He was also a man of tremendous enthusiasm for this business but more so, for the people in the business,” a friend and former colleague said in a note to the folks at Wells Fargo.

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


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

Radius financial group launches MBA Opens Doors in Massachusetts

Because it’s stressful enough to have a child critically ill in the hospital, radius financial group is supporting the MBA Opens Doors foundation to help parents with mortgage payments while caring for their children. 



from Byrd Mix http://ift.tt/22Vs9rA via byrd memphis developer
from Tumblr http://ift.tt/1RMquTb

Rising construction costs squeeze housing supply

The demand for new housing is strong, but high construction costs and low wages are constraining supply, according to Pacific Union economist Selma Hepp.

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


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

Here are the 5 most expensive houses in Austin’s booming market

Austin, Texas, is not only known as one of the fastest-growing cities in America, but it is also has one of the hottest luxury housing markets in the country. Put these two prime conditions together and you get this list of the top five most expensive homes for sale in Austin right now.

from Byrd Mix http://ift.tt/1LUL5lY via byrd memphis developer


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

CFPB complaints from military community up 13%

The CFPB’s annual Servicemembers report outlined the major issues that service members complained about in 2015, including debt collection, mortgages and credit reporting. Twice as many service members than those of the general population reported on debt collection complaints.

from Byrd Mix http://ift.tt/22Vhmxr via byrd memphis developer


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

Flashback? New AAA mortgage bond features pre-crisis subprime, Alt-A mortgages

Before everyone goes thinking that this new mortgage bond is a harbinger of the housing crisis redux, nearly three-quarters of the loans in the deal have never been modified, while nearly all of the remaining loans were previously modified and are current.

from Byrd Mix http://ift.tt/1ohEVB2 via byrd memphis developer


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

CrossCheck Compliance appoints new managing director and general counsel

As the newest member of CrossCheck Compliance, Monika McCarthy brings a wealth of industry knowledge in all phases of mortgage lending, including origination, compliance, fair lending, regulatory affairs, litigation, secondary market transactions and claims resolution.

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


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

Pending-home sales beat expectations

After a disappointing winter season, the industry is looking to the spring to make up for some of the loss. The latest news in the National Association of Realtors’ pending-home sales report outlines what parts of the country are benefitting the most.

from Byrd Mix http://ift.tt/1Sh7DtM via byrd memphis developer


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

Redwood Trust President Brett Nicholas stepping down

Just over a month after Redwood Trust announced several shifts in its future business plans, including discontinuing the acquisition and aggregation of conforming loans for sale to Fannie Mae and Freddie Mac, the real estate investment trust is about to experience another shift, this time in its senior management.

from Byrd Mix http://ift.tt/22HR0Cs via byrd memphis developer


from Tumblr http://ift.tt/1WTFs8b

U.S. January 2016 home prices rise just 0.1%

The numbers that closed out last year have repeated in January 2016’s home price index report. While home prices continue to increase, they are rising slowly. Prices are now just 5.4% below the high in June 2006.

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


from Tumblr http://ift.tt/1pF1sZm

Monday Morning Cup of Coffee: Rising HELOC demand is not housing crisis 2.0

Home equity lines of credit significantly dropped off after the financial crisis in order to avoid new defaults. So what does this new rise in demand mean? Also, The Playboy Mansion is still up for sale, but the odd requirement of who has to there might no longer be a stipulation.

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


from Tumblr http://ift.tt/1LTE7h5

Saturday, March 26, 2016

Hedge fund manager sells Connecticut estate for $13.6 million

In a town just an hour from New York City, a new record was set as an estate sold for $13.6 million. This was the price after being reduced several times since 2012 when it first entered the market.

from Byrd Mix http://ift.tt/1q6k6tZ via byrd memphis developer


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

MBA creates 'task force' to design secondary mortgage market of the future

Aiming to design the secondary mortgage market of the future, the Mortgage Bankers Association is establishing a task force with the task of doing just that. Here are the industry experts that may help reshape the future of the mortgage business.

from Byrd Mix http://ift.tt/1T9OG0X via byrd memphis developer


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

TRID grace period bill stuck in limbo

Remember the Homebuyers Assistance Act? The bill was put on the back burner after it failed to make it into 2015’s year-end spending legislation, leaving the representative’s office to look for a plan B to move it along. The only problem is, Plan B still doesn’t exist.

from Byrd Mix http://ift.tt/1T9KfU6 via byrd memphis developer


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

Comcast and HUD provide low-cost Internet to Miami-Dade public housing

The ConnectHome initiative was created to provide low-income families and children with high speed Internet access, and now residents of Rainbow Village, in Miami-Dade County are the first community to get service and receive free laptops.

from Byrd Mix http://ift.tt/1XTa9uy via byrd memphis developer


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

New Detroit streetcar named QLINE for Quicken Loans

The new streetcar will travel up to 35 mph. M-1 RAIL expects it to bring activity and liveliness to the sidewalks of Detroit, and create connectivity.

from Byrd Mix http://ift.tt/1q6h5JU via byrd memphis developer


from Tumblr http://ift.tt/1RFgs6u

Freddie Mac offloads $336 million in credit risk to insurers

Freddie Mac announced Friday that it offloaded more credit risk to insurers, with the new insurance policies providing credit loss protection up to a combined maximum limit of approximately $336 million of losses on single-family loans.

from Byrd Mix http://ift.tt/1SbFg03 via byrd memphis developer


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

Friday, March 25, 2016

Credit Suisse becomes latest to settle with NCUA over credit union RMBS losses

The NCUA said that this settlement with Credit Suisse is only for the Members United and Southwest corporate credit unions, and stated that it still has litigation pending in federal court in Kansas against Credit Suisse for sales of faulty residential mortgage-backed securities to U.S. Central and other corporate credit unions.

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


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

[Infographic] The new DIY home-buying consumer

The do-it-yourself mentality is making its way into the world of home shopping as more consumers take the home-buying process into their own hands. A new survey from Chase finds exactly where buyers are trying to do their own heavy lifting.

from Byrd Mix http://ift.tt/1UQHA1s via byrd memphis developer


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

Fourth-quarter GDP exceeds expectations

The latest GDP numbers are in, and the results look positive. Fourth-quarter GDP beat expectations and grew at a 1.4% seasonally adjusted annual rate, according to the Commerce Department’s report.

from Byrd Mix http://ift.tt/1T9lsiL via byrd memphis developer


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

Two more TierOne Bank executives headed to federal prison

U.S. District Judge John Gerrard sentenced James Laphen, TierOne’s former president and chief operating officer, to 34 months in prison, and the bank’s former chief credit officer, Don Langford, to 21 months in prison.

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


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

Thursday, March 24, 2016

Cash sales for 2015 lowest since 2008

As the market continues to improve from the housing crisis, cash sales hit their lowest percentage since 2008. Although there is still ground to be made up, if it continues at its current rate, the percentage of cash sales would be at pre-crisis rates by 2017.

from Byrd Mix http://ift.tt/1T8ilI1 via byrd memphis developer


from Tumblr http://ift.tt/21JLUzQ

Guaranteed Rate ordered to pay $25M to Mount Olympus Mortgage for data theft

A California jury ordered Guaranteed Rate to pay more than $25 million in damages to a fellow mortgage lender, Mount Olympus Mortgage Company, stemming from accusations that a former employee of Mount Olympus Mortgage stole client information and loan files and took them with him when he went to work at Guaranteed Rate.

from Byrd Mix http://ift.tt/1XQW1Sj via byrd memphis developer


from Tumblr http://ift.tt/1q5017b

Lender tops $100 million in loans to real estate professionals

Two weeks after announcing its new mid-term loan through an email campaign, Patch of Land has earned over $40 million in loan interest. The loan is fit for those who may not qualify for long-term property loans.

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


from Tumblr http://ift.tt/21JLXvo

Certification+ brand offers single-source compliance solution for settlement providers

The solution includes information technology, cyber security, education and industry-specific compliance solutions. The brand will offer a discounted security and compliance service to satisfy the regulatory and compliance requirements for the seven pillars of ALTA’s Best Practices to meet lender and regulator mandates.

from Byrd Mix http://ift.tt/1RBV0iM via byrd memphis developer


from Tumblr http://ift.tt/1q502rF

What cities are growing the fastest? Census Bureau reveals 2015 results

Looking to maximize your resources in the areas that are growing the fastest? A new report from the U.S. Census Bureau has all the information you need. And as usual, metro areas in Texas rank all over the top 20.

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


from Tumblr http://ift.tt/21JLUzG

President's top housing advisor Michael Stegman leaves office

Stegman’s name comes up quite a bit in regard to ending the conservatorship of Fannie Mae and Freddie Mac. Now that he is leaving office, what does it mean for the GSEs?

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


from Tumblr http://ift.tt/1q50179

Reality star Joe Giudice heads to federal prison

It’s tough being in the spotlight, especially if you’re headed to prison. Joe Giudice arrived at Fort Dix Federal Correctional Institution in New Jersey to begin his 41-month sentence for bankruptcy fraud. However, the convicted criminal’s troubles are just beginning.

from Byrd Mix http://ift.tt/1WM5IBj via byrd memphis developer


from Tumblr http://ift.tt/21JLUjq

Former TierOne Bank CEO gets 11 years in federal prison

On Wednesday, U.S. District Judge John Gerrard ordered the former CEO of TierOne Bank to 11 years in prison. Why? Well, as it turns out, what happens in Vegas doesn’t always stay in Vegas, especially when it comes to defrauding investors. Here’s a breakdown of the criminal activity.

from Byrd Mix http://ift.tt/1UKe1zV via byrd memphis developer


from Tumblr http://ift.tt/1q50176

Freddie Mac: Mortgage rates remain low…for now

This low-rate environment could start to come to a close once future Fed interest rate hikes start to happen. Mortgages rates posted the first drop in four weeks, but comments this week by several members of the Fed show that possible April and June rate hikes are on the table.

from Byrd Mix http://ift.tt/1VJrs2o via byrd memphis developer


from Tumblr http://ift.tt/21JLUjm

Freddie Mac sells off another $1.4 billion in non-performing loans

Freddie Mac selected the winning bidders in its latest massive sale of non-performing loans, with one now-familiar buyer, Lone Star Funds, or more specifically the private-equity’s trust, LSF9 Mortgage Holdings, accounting for more than half of the pool.

from Byrd Mix http://ift.tt/1Zxa3Kh via byrd memphis developer


from Tumblr http://ift.tt/1q50174

Jobless claims rise marginally

In the latest jobless claims report, unemployment claims rose from last week’s revised level of 259,000.

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


from Tumblr http://ift.tt/21JLUjg

Sierra Pacific joins with Tavant Technologies to launch technology transformation roadmap

The two companies will join forces to create new capabilities such as eClosings. Sierra Pacific COO is hopeful that the union will help the company with its online presence, efficiency and customer service.

from Byrd Mix http://ift.tt/1UImeV2 via byrd memphis developer


from Tumblr http://ift.tt/1o85zML

Ringleader of massive, brazen mortgage modification fraud scheme pleads guilty

According to court documents, the group did business under at least 30 different company names, including several that closely resembled the names of legitimate businesses in the mortgage finance space, most notably Green Tree Servicing and Nationstar Mortgage. For instance, the fraudsters named two companies Green Tree Financial and Nation Star Financial.

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


from Tumblr http://ift.tt/1UNX8my

Titan Lenders acquired by MetaSource

The acquisition of Titan Lenders will bring mortgage industry expertise to MetaSource, which already provides business process outsourcing, business process management, enterprise content management, workflow and customer service.

from Byrd Mix http://ift.tt/1Rhx2Y0 via byrd memphis developer


from Tumblr http://ift.tt/1o85zMB

MBA bankrolling IRS $10,000 challenge to 'reimagine' taxpayer experience

The Internal Revenue Service is launching its first crowdsourced challenge, offering big money to anyone who can come up with the best idea to “reimagine the taxpayer experience of the future.” But the money is not coming from the IRS itself. Rather, the funding for the IRS’ challenge is coming from an interesting source – the Mortgage Bankers Association.

from Byrd Mix http://ift.tt/1o7k57r via byrd memphis developer


from Tumblr http://ift.tt/1UNX6ei

Calyx names Bob Dougherty new vice president of business development

Calyx hired a new vice president of business development, Bob Dougherty, to take on tasks such as increasing the company’s interface usage and revenues. Dougherty was most recently the vice president of mortgage operations at Merchants Bank in Winona Minnesota and executive vice president at Boom Brother Commercial Capital.

from Byrd Mix http://ift.tt/1UHsVH2 via byrd memphis developer


from Tumblr http://ift.tt/1o85B76

Is PHH the prime example of how to navigate today's regulated market?

Against most odds, PHH has managed to stay a float after several tough quarters, a massive legal battle with the CFPB and a new industry rumor. This is even more noteworthy given the failure of many others that have gone through similar issues. Here’s a recap of it’s story. See something they did that you didn’t?

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


from Tumblr http://ift.tt/1UNX8mu

Yes, TRID is expensive, but did the CFPB reach its goal?

TRID isn’t easy, and it wasn’t cheap. While this new, small report affirms a lot of what you already knew, it also sheds light on the true goal of TRID — borrower satisfaction. Was all of this change worth it?

from Byrd Mix http://ift.tt/22wjij9 via byrd memphis developer


from Tumblr http://ift.tt/1o85zMv

6 ways to save the family home after a death or divorce

The people who succeed ownership of a home after a death or family breakup are known as “successors in interest” or “successors.” However, the change in ownership is not a simple process and can a result in a lot of problems. The National Consumer Law Center is out to remedy this.

from Byrd Mix http://ift.tt/22xdhTr via byrd memphis developer


from Tumblr http://ift.tt/1UNX8mo

Black Knight: Mortgage delinquencies lowest since 2007

Prepayments are bouncing back big-time, in what could be the sign of a new mini-refi boom. Also, foreclosures are picking up again, especially in these three states.

from Byrd Mix http://ift.tt/1PsJ1fI via byrd memphis developer


from Tumblr http://ift.tt/1o85ybC

Can’t afford your mortgage in the Bay Area?

If you’re living in the Bay Area making between $150,000 to $250,000 a year and can’t afford your mortgage, there is now hope. But maybe not where you’d expect it.

from Byrd Mix http://ift.tt/1S6GV78 via byrd memphis developer


from Tumblr http://ift.tt/1UNX86a

New home sales signal confidence in housing market

One chief economist noted that housing, first and foremost, is no longer the large net drag on topline activity, but neither is it the primary driver of the economy as it once was. Are their expert comments too rosy for reality?

from Byrd Mix http://ift.tt/1Mm5Cjn via byrd memphis developer


from Tumblr http://ift.tt/1o85ybA

Wednesday, March 23, 2016

MBA: Mortgage apps continue downward trend

Mortgage applications can’t seem to shake this downward trend, with another week posting a decline. Both refinance activity and purchase activity did little to offset set this.

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


from Tumblr http://ift.tt/22vHQZC

Pro Teck: Home prices up 9.02% annually in February

Home prices continued to rise as the market approaches the spring home-buying season, with the average home selling price increasing 9.02% annually in February 2016. This month Pro Teck Valuation Services’ Home Value Forecast also includes the top 10 CBSAs with largest 12-month percent increase.

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


from Tumblr http://ift.tt/1S5SKKO

SEC reportedly investigating nonbanks for sending loans to collections too quickly

The Securities and Exchange Commission is reportedly investigating several nonbank mortgage servicers for potentially sending borrowers into debt collection too quickly. One of the SEC’s supposed targets? Ocwen Financial.

from Byrd Mix http://ift.tt/1Sgp0gQ via byrd memphis developer


from Tumblr http://ift.tt/22vHSRl

CFPB partners with Zillow to collect homebuyer information

The Consumer Financial Protection Bureau wants more information about the home buying process and it’s willing to pay for it. According to an email sent Tuesday to consumers, the CFPB is partnering Zillow to gather more information about consumers’ experiences buying and selling a home.

from Byrd Mix http://ift.tt/1o4Yhcz via byrd memphis developer


from Tumblr http://ift.tt/1S5SKuu

NYC Mayor wins approval for affordable housing plan

New York City’s affordability crisis could start finally turn a corner as New York Mayor Bill de Blasio and his administration celebrate the passing of the affordable-housing plan. “Our affordable housing policies must reach every New Yorker in need, which is why this plan thinks big about the changes we need to make—in government and in the private sector,” said de Blasio.

from Byrd Mix http://ift.tt/21G6ZLs via byrd memphis developer


from Tumblr http://ift.tt/22vHQJl

loanDepot teams up with Avant to reach new market

The two firms have announced their partnership, which will allow greater access to loans from borrowers. Avant’s advanced technology will also speed up the process of receiving the loan once approved.

from Byrd Mix http://ift.tt/1LET32x via byrd memphis developer


from Tumblr http://ift.tt/1S5SMlY

House passes bill to extend veteran foreclosure protection

For many members of the military, settling back into life after completing their active service can be a struggle. In an effort to ease some of their struggles, the U.S. House of Representatives extended the foreclosure protection for debts incurred before active duty.

from Byrd Mix http://ift.tt/1q0J7GI via byrd memphis developer


from Tumblr http://ift.tt/22vHQJg

Motivity Solutions co-founder and President Todd Sherman dies

His brother shared these touching words: “The world has lost the most amazing husband, father, brother, son, friend and human being. He left behind a legacy and spirit that will forever be the foundation of the Sherman Family.”

from Byrd Mix http://ift.tt/1U6NoFf via byrd memphis developer


from Tumblr http://ift.tt/1S5SKuk

BofA's low-down payment promising but what about the FHA?

Ever since Bank of America announced its new 3% down payment mortgage program, the Affordable Loan Solution, it’s being looked at as an effort for borrowers to skirt around the Federal Housing Administration. Urban Institute research associate Karan Kaul says that though such efforts are an alternative to FHA lending, they are not a substitute.

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


from Tumblr http://ift.tt/22vHSRe

FHFA's Watt: Principal reduction is 'most challenging' decision agency faces

In a speech given Monday at a public policy luncheon hosted by the Women in Housing and Finance, Mel Watt, the director of the Federal Housing Finance Agency, said that the issue of principal reduction has been the “most challenging” that the FHFA faced in his two years there. So will he or won’t he?

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


from Tumblr http://ift.tt/1S5SKue

NAHB director blames homeowners for slow spring season

In Trulia’s recent report, it states that America is experiencing a housing shortage. This little tidbit led one Gawker author to call homebuilders ‘a-holes’ (caution: NSFW language). But there’s more to it, as it turns out.

from Byrd Mix http://ift.tt/1UD2bYg via byrd memphis developer


from Tumblr http://ift.tt/22vHSAR

Tuesday, March 22, 2016

Fannie Mae, Freddie Mac finally set to reduce mortgage balances

Despite years of leader after leader claiming this would never happen, Fannie Mae and Freddie Mac will finally begin to cut the mortgage balances for a number of homeowners later this year. So what changed the game? Click the headline for the answer.

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


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

FHFA: Home prices keep moving up

U.S. housing prices in January gained 0.5% on a seasonally adjusted basis from the previous month, according to the Federal Housing Finance Agency.

from Byrd Mix http://ift.tt/1S3omkc via byrd memphis developer


from Tumblr http://ift.tt/22ujMpZ

Monday, March 21, 2016

Ellie Mae CEO: Initial discomfort of TRID now over

About half a year into TRID and the market appears to finally be turning a corner. According to Ellie Mae CEO Jonathan Corr, “In terms of Know Before You Owe, I think we’re in the second half of the game.” Now it’s time to conquer the rest as the industry heads into spring.

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


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

Humans of New York puts a face to foreclosure troubles

In a recent Facebook post on the popular photo diary, Humans of New York, a man is pictured claiming to “help and maintain properties for absentee landlords.” So, what’s it like to be him?

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


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

Fitch: TRID market disruption not exactly huge risk for mortgage bond investors

Although not yet passed, a proposal from a private-label securities trade group would enable investors to benefit from a standardized treatment for TRID errors in mortgage bonds. However, is TRID even that disruptive to the secondary market?

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


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

Beasley Real Estate closes after top real estate agents defect

After losing many high profile agents to another firm, Beasley Real Estate closed its doors for good. Former owner Jim Bell has already lined up another position, and set new goals for his new employer.

from Byrd Mix http://ift.tt/1RbAG5B via byrd memphis developer


from Tumblr http://ift.tt/1RbZA5f

BOK Financial adds new retail channel leader

BOK Financial recently announced it named J. Edward Adams as its new retail mortgage channel leader. Adams brings 29 years of retail mortgage lending experience and will direct and expand the bank’s retail mortgage lending efforts for BOK Financial’s mortgage origination operations in 15 cities.

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


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

Looking to spend $2 million on a home in Denver? You're not alone

Denver’s hot market just got hotter, especially for homes over $1 million. According to a report by Coldwell Banker Residential Brokerage, luxury home sales in the mile high city increased 40% over February 2015.

from Byrd Mix http://ift.tt/22A19NX via byrd memphis developer


from Tumblr http://ift.tt/1RbZA57

Inventory shortages, affordability concerns crush existing-home sales

The latest existing-home sales report confirms how barren the market is as almost every sector of housing continues to suffer from the impact of barely any inventory. And this report gives a new diagnosis of just how bad it is. Want to know the pain points?

from Byrd Mix http://ift.tt/1RcZR6D via byrd memphis developer


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

Sunday, March 20, 2016

California credit union memberships reach record high

Membership levels at California credit unions are surging as more individuals across the state opt for “consumer owned banking.” And memberships weren’t the only area on the rise, with loan levels reaching a new high thanks to mortgages.

from Byrd Mix http://ift.tt/1XGf9CF via byrd memphis developer


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

Monday Morning Cup of Coffee: Trump's anger can fix housing?

Do you want to know who can really fix housing? Donald Trump. Want to know where housing advice goes off the rails? Reddit. Where can you learn to get great interest rates on a mortgage? Nerdwallet. Also, the FDIC actually closed a bank on Friday.

from Byrd Mix http://ift.tt/1RZgro7 via byrd memphis developer


from Tumblr http://ift.tt/1pEbCu7

Friday, March 18, 2016

California real estate agent gets 14 years in prison for $30M mortgage fraud

A California woman will spend the next 14 years in prison after being convicted for her role in a mortgage fraud scheme that involved straw buyers and cost financial institutions over $16 million.

from Byrd Mix http://ift.tt/1R4alGL via byrd memphis developer


from Tumblr http://ift.tt/1R4TR0X

Freddie Mac: 4 financial hurdles blocking homeownership

Nearly three quarters of renters feel that renting is a more affordable choice than homeownership, even though it’s more affordable to buy. Here are the four financial hurdles renters who plan to buy in the next three years indicate they still have to overcome.

from Byrd Mix http://ift.tt/1LvBh1R via byrd memphis developer


from Tumblr http://ift.tt/1Zc2ecS

Homebuyer beware: FTC, Realtors issue warning on mortgage closing cost phishing scheme

Consumers put their trust in the real estate professionals they work with to guide them through the complex process of buying a home, but that trust is being betrayed by scammers posing as Realtors and title insurance companies to steal consumers’ closing costs.

from Byrd Mix http://ift.tt/1MfdP96 via byrd memphis developer


from Tumblr http://ift.tt/1R4TSSq

Fannie Mae announces largest Credit Insurance Risk Transfer deal

In the latest deal in Fannie Mae’s risk-sharing program, the government-sponsored enterprise shifted a portion of credit risk on pools of single-family loans with a combined unpaid principal balance of approximately $19.5 billion to a group of insurers and reinsurers, marking the largest transaction of its kind to date.

from Byrd Mix http://ift.tt/1XB3IvM via byrd memphis developer


from Tumblr http://ift.tt/1Zc2eJS

Arizona pair accused of posing as Realtors, lenders, defrauding Hispanic families

The owners of a Phoenix-based real estate consulting company stand accused of posing as both Realtors and mortgage lenders, and defrauding a number of Hispanic families by convincing them that they were buying a house, when, in reality, they were only leasing it.

from Byrd Mix http://ift.tt/1S6Xtyv via byrd memphis developer


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

Fannie Mae: Expect Fed rate hikes in June and December

Despite the Federal Open Market Committee announcing earlier this week that it felt that current economic conditions did not warrant another increase of the federal funds rate, Fannie Mae’s Economic & Strategic Research Group still expects that the FOMC will increase rates at least twice in 2016.

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


from Tumblr http://ift.tt/258wF85

Here’s how much the big bank CEOs made in 2015

The chief executives of the largest four banks benefited from a strong year last year, with all but one bank CEO enjoying a pay hike in 2015. Here are each CEOs pay ranked from smallest to largest.

from Byrd Mix http://ift.tt/1nS6alv via byrd memphis developer


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

Thursday, March 17, 2016

Why you should think twice before jumping into the mortgage industry

The word innovation is used a lot in today’s mortgage market, but while any one can use a fancy word to describe their business, only a few can actually execute. And four of those businesses were all in New York City at Goldman Sachs’ one-day Housing Finance conference on Wednesday. And just as Quicken Loans, SoFi, loanDepot and Better Mortgage are disruptors in the industry, they were disruptors in the room.



from Byrd Mix http://ift.tt/22q6ur8 via byrd memphis developer
from Tumblr http://ift.tt/1RRRr27

The top 10 cities attracting Millennial mortgage applications

“The data all points to the fact that Millennials are increasingly eager to own rather than rent, and even the incredibly high real estate prices in some markets don’t necessarily deter them,” said Doug Lebda, CEO of LendingTree. So where are they moving?

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


from Tumblr http://ift.tt/1U9BJpn

It's official: TRID kills mortgage profits

A new report from the MBA revealed the implementation of the CFPB’s TILA-RESPA Integrated Disclosures rule in October wiped out most of the money to be made in the mortgage industry. How bad is it? Are you sitting down? Average mortgage profits collapsed more than 50% based on skyrocketing production expenses.

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


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

Freddie Mac: Mortgage rates rise amid Fed announcement

Increasing Treasury yields heading into this week’s FOMC meeting partially pushed rates higher. As a result, mortgage rates dropped for the third week straight.

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


from Tumblr http://ift.tt/1U9BHxT

Exploding population sends rents soaring in Dallas

According to a recent study by the Texas A&M Real Estate Research Center, DFW’s population could double in the next 25 years. As more people move to the area, housing supply just can’t keep up, pushing potential homebuyers into the rent market. So how bad is it?

from Byrd Mix http://ift.tt/1R0FsTv via byrd memphis developer


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

How long until housing reform happens?

With the financial crisis now eight years behind the economy, the industry is longing for reform of the GSEs. But a looming presidential election and changing government won’t let this happen anytime soon. Here’s what needs to happen in the meantime.

from Byrd Mix http://ift.tt/1Rm2h66 via byrd memphis developer


from Tumblr http://ift.tt/1U9BJ95

Wednesday, March 16, 2016

California property report: Median house price falls 2.3%

While single-family home and condominium sales slightly change in February from its revised 24,273 in January, cash sales in the Golden State soared to 25.3% of total sales, the highest in 23 months. Is ‘Flat is the New Black’ likely for the rest of 2016?

from Byrd Mix http://ift.tt/1RluLg9 via byrd memphis developer


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

Julian Castro historic Twitter town hall results in all sorts of questions

On Tuesday afternoon, the Democratic politician hosted an online town hall on social media platform Twitter, in what may be a first for Housing and Urban Development director Julian Castro. This is the best of what the general public wished to ask the HUD head.

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


from Tumblr http://ift.tt/21w4USc

What is the competitive advantage for non-QM lending?

The introduction of the Qualified Mortgage rule in January 2014 brought about the concept of non-QM lending, loans that do not meet agency requirements. Within the first year of the rule taking effect, lenders started to come out saying that they would originate non-QM loans. This is why that idea is a company positive.

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


from Tumblr http://ift.tt/1RlKqw9

FHA releases new mortgage-lender certifications

The Federal Housing Administration released new certification requirements lenders need to follow when writing up FHA-insured loans in order to protect them from being penalized for underwriting errors.

from Byrd Mix http://ift.tt/1S4rRcA via byrd memphis developer


from Tumblr http://ift.tt/21w4WJL

First-time homebuyers lose out during the busy U.S. homebuying season

With the U.S. employment rates on the rise and apartment rents increasing, millennials are turning to the busy and competitive U.S. homebuying spring season and trying to purchase a new home.



from Byrd Mix http://ift.tt/1M8d5Cw via byrd memphis developer
from Tumblr http://ift.tt/1RlKqw3

Fed: Housing growth strong, keeps interest rates the same

The good news is that household spending is growing at moderate rate, and continues to improve. The labor market is also strengthening, the committee reports. “However, global economic and financial developments continue to pose risks,” they said.

from Byrd Mix http://ift.tt/1RmUT44 via byrd memphis developer


from Tumblr http://ift.tt/21w4US8

Goldman Sachs expert on the key takeaway for Millennial homebuyers

During Goldman Sachs’ 2016 Housing Finance Conference, the question was asked, “Are Millennials ever going to buy houses?” The response, unlike most, centered around the sheer amount of them, and while their demand is lower, housing will be okay.

from Byrd Mix http://ift.tt/1M8d4yr via byrd memphis developer


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

Residential housing starts hit 5-month high

New residential construction reached its highest in five months as there is a need for single-family homes. Quoted from Marketwatch, Steve Blitz, chief economist at ITG Investment Research said housing continues to be a “bright spot” for the U.S. economy.

from Byrd Mix http://ift.tt/1TOi8e4 via byrd memphis developer


from Tumblr http://ift.tt/21w4Wtx

CFPB Director Cordray: Credit unions misrepresent mortgage success

So how are things going at the CFPB? Short answer: The American hate-hate relationship with lenders of all kinds appears to be growing. Also, credit unions are in a mortgage sweet spot, despite what trade groups report, Director Richard Cordray reports. Read all of the important details here, in less than 500 words.

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


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

MBA: Purchase apps rise as refi apps fade

Despite a spike in purchase applications, mortgage applications dropped for the third week straight. The rise in purchase volume was not enough to offset the continuous drop in refinance activity.

from Byrd Mix http://ift.tt/1U75cAg via byrd memphis developer


from Tumblr http://ift.tt/21w4Wtv

AmeriSave Mortgage Corp adds Barbara Johnson as COO

Online home mortgage lender AmeriSave announced Barbara Johnson joined the company as its new chief operating officer, effective immediately.

from Byrd Mix http://ift.tt/1R40TQ7 via byrd memphis developer


from Tumblr http://ift.tt/1RlKsE4

Tuesday, March 15, 2016

Appraisal volume modestly rises

It was another good week for appraisal volume, with this week’s rise pushing the four-week moving average higher. While refinance activity is down, the positive home buying season is helping counteract this.

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


from Tumblr http://ift.tt/1Uf3JY6

FNC Residential Price Index shows monthly home price decline

U.S. home prices fell 0.3% in January from December, reflecting flat home sales during the same period. According to FNC’s residential price index, on a a year-over-year basis, home prices rose 6.4% from December 2015.

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


from Tumblr http://ift.tt/1R21j9u

Hispanic homeownership on the rise

For the first time since 2009, the Hispanic homeownership rate and the number of Hispanic-owned households increased, while overall homeownership rates in the U.S. decreased for the 12th time, according to data from the State of Hispanic Homeownership Report.

from Byrd Mix http://ift.tt/1UelZ3P via byrd memphis developer


from Tumblr http://ift.tt/1Uf3LPG

First Guaranty Mortgage Corp. names Robert Eastep CFO

First Guaranty Mortgage Corp. appointed Robert Eastep as its chief financial officer. Eastep served as CFO of Stonegate Mortgage before joining First Guaranty, and prior to Stonegate, he held senior executive positions at Union Mortgage Group, Central Virginia Bankshares and Saxon Capital.

from Byrd Mix http://ift.tt/1pJI5Pm via byrd memphis developer


from Tumblr http://ift.tt/1R21h1C

JP Morgan prepares massive mortgage bond deal

The secondary market continues to be dominated wholly by issuance from Ginnie Mae, Fannie Mae and Freddie Mac. Will this deal actually “revive” the debt market, as the WSJ puts it?

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


from Tumblr http://ift.tt/1Uf3JHM

Ritholtz: Subprime auto loans very different than subprime mortgages

In an atmosphere where investors and others are worried that there will be yet another financial crisis, many are saying subprime auto loans are the new subprime mortgages. Here’s why Barry Ritholtz thinks they’re wrong.

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


from Tumblr http://ift.tt/1R21h1y

W.J. Bradley Mortgage Capital permanently closes down

In a memo obtained by Rob Chrisman, employees were told, “unless otherwise informed, any work time invested on March 14, 2016 or beyond will be unpaid.” However, less than two years ago, W.J. Bradley’s mortgage ops were bullish. So what happened?

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


from Tumblr http://ift.tt/1Uf3JHK

Genworth, Roostify partner to make mortgage insurance more digital

This move comes during a time that the mortgage industry is really pushing to go more digital. The new partnership “aims to address a sizable need for innovation and improved efficiencies in the housing industry,” said Rajesh Bhat, cofounder and CEO of Roostify.

from Byrd Mix http://ift.tt/1V8Sm3z via byrd memphis developer


from Tumblr http://ift.tt/1R21iTd

NYC Mayor housing plan gains more support

New York City Mayor Bill de Blasio and the Real Affordability for All coalition reached an agreement over the weekend after seeing a revised version of de Blasio’s original proposal for a 10-year zoning plan.

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


from Tumblr http://ift.tt/1Uf3Lzk

Morgan Stanley: Global recession risk rises 30% this year

Morgan Stanley is hinting that we should all consider cancelling our summer vacations. Quants at the Wall Street investment bank say the risk of the global economy sliding back into a recession is now nearly a one-in-three shot, according to coverage in the Telegraph UK. But why?

from Byrd Mix http://ift.tt/1LnacO6 via byrd memphis developer


from Tumblr http://ift.tt/1pIx9l7

RPM Mortgage ranked above average by S&P for third straight year

RPM Mortgage announced that for the third straight year, Standard & Poor’s placed its U.S. residential mortgage originator ranking at “Above Average” after it reviewed the company’s origination process for prime residential mortgages. And, here’s why the ratings agency is so impressed.

from Byrd Mix http://ift.tt/1M32g4K via byrd memphis developer


from Tumblr http://ift.tt/22i7q0I

NYC homes: Costs behind the film industry’s desired location

As New York City becomes more common than ever to film in, so does the opportunity for New Yorkers to turn their homes into film studios. While the gig comes with a pretty pay out, it also comes at another price.

from Byrd Mix http://ift.tt/1M3jnU0 via byrd memphis developer


from Tumblr http://ift.tt/1pIx9kZ

American election jitters won't make Canadian housing any cheaper

With the presidential election a little less than eight months away, Google searches for “Move to Canada” are reaching unmatched levels. But before tossing your American flag pin and heading north to Canada, consider these factors.

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


from Tumblr http://ift.tt/22i7q0A

Here's what the spring housing market will look like this year

While spring homebuying might have started early this year, as famous Punxsutawney Phil confirmed without a shadow of a doubt at the beginning of February, this doesn’t mean you’re quite ready to add the title of homeowner to your name. To help in your deliberation, HousingWire talked to Ralph McLaughlin, chief economist with Trulia, to compile a list of five factors that define this year’s housing market.

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


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

Monday, March 14, 2016

DIMONT announces investment from Renovo Capital

Private equity fund Renovo Capital already has broad experience in the housing economy as the owner of RealtyTrac and Homefacts. Now the fund is expanding its presence with an investment in DIMONT, a specialty insurance and loan administration solutions provider.

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


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

6 myths about Freddie Mac's 3% down mortgage

What Freddie Mac designed to help more first-time homebuyers and other qualified borrowers jump into the market has struggled to get off the ground due to lender fears and even borrower misconceptions. To help combat the lack of information, Freddie Mac designed this handy flash card to dispel some of the common myths about its program.

from Byrd Mix http://ift.tt/1U1rfs8 via byrd memphis developer


from Tumblr http://ift.tt/1U1ua41

Monday Morning Cup of Coffee: Federal Reserve interest rate hike guessing game

The Federal Reserve meets this week, and the interest rate guessing game is in full swing. The consensus is clearly that the stock market woes in the early part of the year mean the Fed will postpone an interest rate hike. Also, the latest in the New York Federal Reserve bank hack and SXSW.

from Byrd Mix http://ift.tt/1Rh89XU via byrd memphis developer


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

Sunday, March 13, 2016

Here are the 10 hottest neighborhoods for home flipping

Last year was the strongest year yet for home flippers, with gains on flips in 2015 hitting $102,400 per flip on average. This list of the top 10 neighborhoods for home flippers has a lot do with that lofty rise.

from Byrd Mix http://ift.tt/1RY9juL via byrd memphis developer


from Tumblr http://ift.tt/1pFGY39

Saturday, March 12, 2016

Three things to learn from the New York Fed hack

You operate a small business and don’t have billions sitting around in bank vaults. Surely your company doesn’t have to worry about a hack, right? Wrong. A quick read of the Fed hack reveals several elements that hold true for your business as well.

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


from Tumblr http://ift.tt/1QMEo4c

Friday, March 11, 2016

Homeownership rates falling in Dallas despite job increases

Being ranked No. 3 in booming housing markets in the U.S. means more people are moving to the Dallas-Fort Worth area, but then why are the homeownership rates going down?

from Byrd Mix http://ift.tt/1nDu0Bn via byrd memphis developer


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

Westcor launches new Investor Services division

The new Investor Service division of Westcor Land Title Insurance Company is charged with delivering an end-to-end suite of products and services for institutional clients in the whole loan and single-family rental markets.

from Byrd Mix http://ift.tt/1QK91ao via byrd memphis developer


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

Should you buy a home closer to a Walmart or Target?

While it doesn’t take long to find a local Walmart or Target, there is a difference between the two when it comes to which one you should purchase a home near. A RealtyTrac analysis compares home values, price appreciation and property taxes in U.S. ZIP codes with both stores. Here’s which one gives homeowners the best returns.

from Byrd Mix http://ift.tt/1Mc47ih via byrd memphis developer


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

The CFPB's enforcement approach is smothering innovation in the mortgage industry

So, there are rules to follow and then there are “patterns of actions” that lenders, servicers and investors must interpret for themselves. The interpretation so far? We better play it safe.

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


from Tumblr http://ift.tt/1SHdIV7

ABA Community Bank Mortgage partners with BOK Financial Correspondent

With this selection, ABA Community Bank Mortgage owner banks can sell agency-eligible and jumbo loans on a servicing-released basis to BOK Financial and access their full line of fixed rate, ARM and affordable lending products.

from Byrd Mix http://ift.tt/1pkFaN7 via byrd memphis developer


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

Solar panel telemarketer faces charges over unlawful robocalls

The appeal of solar energy is starting to gain a lot of traction across the nation, especially in warmer states. However, with the increase in demand comes an increase in caution. The Department of Justice filed a new suit against a solar panel telemarketer over unlawful robocalls.

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


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

Thursday, March 10, 2016

HUD mortgagee letter poses new challenges for mortgage servicers

If the hazard claim settlement proceeds are insufficient to complete the repair, the mortgage servicer may have to contribute corporate funds to remediation. If the repair is not timely, the mortgage servicer may have waived the contractual right to claim depreciation, leaving money on the table.

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


from Tumblr http://ift.tt/227xueU

How to hire Millennials in today's aging mortgage industry

It’s not that Millennials aren’t loyal or uninterested in mortgages, it’s that they put less emphasis on the job and more on the experience. In order to secure and retain more young employees, you will need to adjust how you do business. These examples will help you gauge how to adapt.

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


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

SoFi launches hedge fund

The alternative lender’s latest move involves plans to launch a hedge fund that will start out buying the company’s own loans, with the possibility of growing beyond that. SoFi posted a lot of major financial announcements over the past year, including news that it secured $1 billion in Series E funding.

from Byrd Mix http://ift.tt/1QKeG1q via byrd memphis developer


from Tumblr http://ift.tt/227xtYv

CoreLogic: 1 million borrowers regained equity last year

Last year was a positive year for homeowners, with approximately 1 million borrowers regaining equity in 2015. As a result, the total number of mortgaged residential properties with equity at the end of the fourth quarter of 2015 reached 91.5% of all mortgaged properties.

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


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

Executive Conversation: Jason Allnutt on moving beyond distressed assets

Our new Ten-X Homes platform will offer our clients the opportunity to sell using online auctions or, for the first time, use a more traditional non-auction option. We felt like the market was ready for this — over 90% of home purchases today include the use of online services like Zillow and realtor.com, and a large percentage of the people who register for our online auctions identify themselves as owner occupants.

from Byrd Mix http://ift.tt/1R9zr8Y via byrd memphis developer


from Tumblr http://ift.tt/227xtYp

RE/MAX names B2R Finance as an approved supplier

B2R Finance announced a major move with RE/MAX. The company, which is a lender for rental property investors, will begin offering financing solutions for rental property investors through the RE/MAX network of sales associates.

from Byrd Mix http://ift.tt/1TP1iMs via byrd memphis developer


from Tumblr http://ift.tt/1SEBVv9

Mortgage rates well below end-of-2015 level for spring home-buying season

Despite increasing for the second week in a row, mortgage rates are still well below levels seen at the end of last year. This is only the second increase this year, making mortgage rates very attractive for the upcoming spring home-buying season.

from Byrd Mix http://ift.tt/1RD2CeI via byrd memphis developer


from Tumblr http://ift.tt/227xsnq

New home purchases surge again thanks to low rates, mild weather

February was another strong month for new home purchases, the latest Mortgage Bankers Association report states. The boost is attributed to continued low interest rates and fairly mild weather.

from Byrd Mix http://ift.tt/1R9HWuy via byrd memphis developer


from Tumblr http://ift.tt/1SEBVv5

Private-label securities market languishes at 90% off peak

The private-label securities market stands nowhere close to where it used to over the past eight years. In fact, it pales in comparison to its prior demand — so much so that new prime securitization was just $12.1 billion in 2015 — less than 9% of the $142 billion total in 2001. An Urban Institute blog addresses what’s going on in the PLS market, along with the areas that still need a lot of groundwork in order to revive the market.

from Byrd Mix http://ift.tt/1TtXdg5 via byrd memphis developer


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

Tiny house trend now more accessible than ever thanks to 84 Lumber

The tiny house trend spans all facets of real estate, from housing formerly homeless people in LA to being the home of choice for a professional skier. And the movement is about to get a lot more accessible, with a major national retailer of building materials and services announcing the launch of a series of tiny house models.

from Byrd Mix http://ift.tt/1Wab5df via byrd memphis developer


from Tumblr http://ift.tt/1M8mBQV

Clayton names Jeff Tennyson interim president after D'Urso departs

In light of the immediate departure of Clayton’s former president Joe D'Urso, the company announced that Jeff Tennyson will serve as interim president of Clayton Holdings. Tennyson joined the company in February 2015 as chief operating officer and brings more than 30 years of experience in the financial services industry to the position.

from Byrd Mix http://ift.tt/1R7UdG3 via byrd memphis developer


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

Bail for fugitive Southlake title company owner set at $1M

Following her arrest earlier in the year in Illinois after being accused of leaving town with millions of dollars in stolen money, Millennium Title owner Nancy Jackson Carroll was returned to Fort Worth, Texas. She was booked into the Tarrant County Jail.

from Byrd Mix http://ift.tt/220NL8O via byrd memphis developer


from Tumblr http://ift.tt/1M8mBQM

Equifax: First mortgage debt ticks up to $8.3 trillion

The total balance of outstanding first mortgages in January is slightly increasing, growing 2.1% annually to more than $8.3 trillion. Equifax’s chief economist explained that home purchase activity accelerated in 2016 as economic conditions boosted consumer confidence.

from Byrd Mix http://ift.tt/1R7kYnL via byrd memphis developer


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

North Texas inventory crisis shows small signs of relief

The North Texas housing market, like the rest of the nation, struggles with extremely tight inventory, especially given that it is consistently one of the hottest housing markets in America. However, a new report gives a small indication that this could start to change.

from Byrd Mix http://ift.tt/1U3TtBS via byrd memphis developer


from Tumblr http://ift.tt/1M8mzZk

Ellie Mae's compliance investment pays off

The company’s decision to infuse its mortgage management solution with compliance proved to be strategic, and has paid off in spades. With every new regulation, the automated technology just gets more valuable.

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


from Tumblr http://ift.tt/1TNHR6F

MBA: Purchase apps jump heading into spring home-buying season

Mortgage applications were lifted by a rise in purchase applications as the market gears up for an early spring home-buying season. On the other side, the refinance share of mortgage activity fell again after plummeting to the lowest level since January last week.

from Byrd Mix http://ift.tt/1nw30ng via byrd memphis developer


from Tumblr http://ift.tt/1M8mBAm

MGIC: Primary new mortgage insurance grows 5.5% from last year

While the data can change every month depending on the number of business days in the month or the day that the report is run, February’s report adds an additional perspective to show how mortgage insurance grew and improved over the last year.

from Byrd Mix http://ift.tt/1W9diG0 via byrd memphis developer


from Tumblr http://ift.tt/1TNHR6C

Wednesday, March 9, 2016

Appraisal volume softens as refi market tapers off

The slowing of the refinance market is tapering appraisal order growth. This week includes a look at the four-week rolling average, which can be a more stable representation of trends than mortgage applications.

from Byrd Mix http://ift.tt/1U2W9zP via byrd memphis developer


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

Homeowner expectations and appraisal values divided as gap widens

For the first time in six months, the gap between appraisal and owner estimates of home values widened. Quicken Loans’ chief economist noted that while it is always disappointing for homeowners to learn they don’t have quite the home equity they expected, the gap still falls within a normal range.

from Byrd Mix http://ift.tt/1pwza3C via byrd memphis developer


from Tumblr http://ift.tt/1QGqr9g

Fed governor donates to Clinton campaign

A recent move by Federal Reserve Governor Lael Brainard to donate to Democratic presidential frontrunner Hillary Clinton puts the Fed in a position to be criticized in this contentious election year. While Fed officials do identify with major political parties, donations to a presidential candidate by senior policy makers are unusual.

from Byrd Mix http://ift.tt/1Uc258s via byrd memphis developer


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

Milwaukee Senate to look at bill on zombie homes

Despite a clear divide in support, the Milwaukee Senate will soon look at a bill that outlaws the city’s right to force financial institutions to quickly sell abandoned and foreclosed homes. But is this the right solution?

from Byrd Mix http://ift.tt/1p5PKXt via byrd memphis developer


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

GSE reform is happening: Are people paying attention?

No one should be misled by the lack of comprehensive Congressional action into thinking that GSE reform is on hold. Reform has matured much further than most people realize – but there is disagreement about what comes next.

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


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

MCS acquires EPIC Real Estate Solutions

Mortgage Contracting Services is already a provider of property preservation, inspections, REO property maintenance and valuations for the financial services industry and is now broadening its client offerings even further. The company announced it acquired Austin, Texas-based EPIC Real Estate Solutions.

from Byrd Mix http://ift.tt/1peLJ3U via byrd memphis developer


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

Here are the states where you'll pay the most in property taxes

If you’re flirting with the idea of moving to another state this spring, you might want to consider this list first before jumping into a pricey tax situation. Here’s a state-by-state breakdown of property taxes.

from Byrd Mix http://ift.tt/1p7rHYo via byrd memphis developer


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

MBA adds Lionel Lynch as VP of strategic member relations

Lionel Lynch was added as vice president of strategic member relations for the Mortgage Bankers Association. In Lynch’s new role, he will be responsible for strengthening and managing relationships with senior executives of MBA member companies.

from Byrd Mix http://ift.tt/24Pk2OZ via byrd memphis developer


from Tumblr http://ift.tt/1QGqp15

Top 10 states where you should consider refinancing to save money

Thinking about whether you should refinance or not? If all-time-low interest rates aren’t enough to motivate you, here’s a list of the top 10 states to save money by refinancing. And if you live in one of the hottest housing markets in America, the answer will likely be a resounding yes.

from Byrd Mix http://ift.tt/21WV6WY via byrd memphis developer


from Tumblr http://ift.tt/1Xcdsg1

Dwindling inventory creates 'Pac-Man' market in the Northwest housing market

To say the Northwest housing market is tight would be an understatement, as homebuyers snatch up homes as fast as they come on the market, despite rising home prices. Homebuyers are even willing to accept longer commutes in order to find a home.

from Byrd Mix http://ift.tt/1QD0hD2 via byrd memphis developer


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

Tuesday, March 8, 2016

CoreLogic: Completed foreclosures drop 16.2%

Foreclosures and REOs decreased from a year ago as the market continues to improve. From January 2015 to January 2016, there were 8,000 fewer foreclosures annually.

from Byrd Mix http://ift.tt/1QE1o6B via byrd memphis developer


from Tumblr http://ift.tt/24Ozr2j

CFPB takes on marketplace lenders

Interestingly, consumers can already file complaints about marketplace lenders on the Complaint Database through the “mortgage” product category or other categories. So why call out a specific type of lender to consumers? One group of analysts sees the move as a warning.

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


from Tumblr http://ift.tt/21ZGDGf

Monday, March 7, 2016

Here are top 10 smaller and mid-size downtowns

While there is always a lot of buzz surrounding large cities and metroplexes, many people still choose to move to smaller, less crowded areas. And although they are smaller, is doesn’t mean they are any less exciting. A new list shows the top smaller cities that are updating their downtown areas for a more welcoming feel.

from Byrd Mix http://ift.tt/1LN72Dh via byrd memphis developer


from Tumblr http://ift.tt/1R1An9b

Stonegate Exec: Distributed retail lending 'is small but important'

After the lender’s fourth-quarter earnings, Steve Landes, Stonegate Mortgage executive vice president, national director of sales and president of NattyMac, talked about Stonegate’s plans for distributed retail lending and what the company sees ahead in 2017.

from Byrd Mix http://ift.tt/1X7Y7Np via byrd memphis developer


from Tumblr http://ift.tt/1puI9Cp

Consumer credit grew at slowest annual rate in three years

At a time of volatility in the global financial market, borrowing by U.S. consumers decreased. The seasonally adjusted rate came in at it’s lowest growth rate since March 2013.

from Byrd Mix http://ift.tt/1LN3GAa via byrd memphis developer


from Tumblr http://ift.tt/1R1An92

Here are the 10 trendiest, but still affordable, cities right now

In an environment where Millennials are barely being served, it’s not easy finding a place to call home in America’s 20 hottest housing markets. However, a new list could be the answer you’ve desperately waited for.

from Byrd Mix http://ift.tt/21hwpyY via byrd memphis developer


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

Altisource's Premium Title integrates with Mortgage Builder

As a result of a new integration with the Mortgage Builder Loan Origination System, Premium Title said it can close more loans at a lower cost and higher quality, helping ensure full compliance throughout the process.

from Byrd Mix http://ift.tt/1QCla2h via byrd memphis developer


from Tumblr http://ift.tt/1R1Aku3

DRB selects Tavant to create retail mortgage platform

Darien Rowayton Bank selected Tavant Technologies to create its retail mortgage platform due to its understanding of the strategy, coupled with its experience in mortgages. Although DRB started as a national student lending platform, it views mortgages as its next big step.

from Byrd Mix http://ift.tt/1X7L8LK via byrd memphis developer


from Tumblr http://ift.tt/1puI9m3

Lenders, title companies reluctant to share buyers' closing docs

The TRID rule’s lack of clarity on whether lenders and title agents should share closing documents with real estate agents could impact borrowers directly. With agents cut out of the loop, inaccuracies on disclosures are increasingly likely, this article explains.

from Byrd Mix http://ift.tt/1R0xaXs via byrd memphis developer


from Tumblr http://ift.tt/1R1AktU

Fannie Mae: Americans start to think now is a good time to buy a home

Since home-price appreciation is expected to finally slow down, homebuyers are starting to look at jumping into the housing market again, especially first-time buyers who have struggled to find a home.

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


from Tumblr http://ift.tt/1puI9lZ

Monday Morning Cup of Coffee: PulteGroup CEO says access to credit a headwind to housing

Mortgage credit, Millennials and Zillow. All three are big topics in the housing market this year, and part of an interview with PulteGroup CEO Richard Dugas. And SoFi is reportedly working on plans to start a real estate investment trust.

from Byrd Mix http://ift.tt/1L9M95h via byrd memphis developer


from Tumblr http://ift.tt/1R1Akde

Saturday, March 5, 2016

Borrowers who qualify for refinance increased by 30% since January

Over the past two months, decreasing interest rates have made it possible for 30% more borrowers to afford refinancing. If the trend continues, the number of borrowers could significantly increase to numbers not seen since 2012/2013, when rates were at their lowest in history.

from Byrd Mix http://ift.tt/1Quazp5 via byrd memphis developer


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

Friday, March 4, 2016

Government officials will not pursue criminal charges against Citigroup

After several banking companies reached settlements for practices dating back to the financial crisis of 2008, the Justice Department asked for a review. The purpose of the review was to see if any individuals could be held responsible.

from Byrd Mix http://ift.tt/1UG6FfE via byrd memphis developer


from Tumblr http://ift.tt/21LZ04T

Ten-X: Existing home sales likely to decrease in February

Although existing home sales are likely to decrease slightly in February, sales are up annually. Reasons for the decrease could include seasonal changes and setbacks from the implementation of the “Know Before You Owe” rules.

from Byrd Mix http://ift.tt/21On17X via byrd memphis developer


from Tumblr http://ift.tt/21cPphV

HOPE NOW: 1.45 million homeowners rescued from foreclosure in 2015

HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and nonprofit counselors, released its final 2015 loan modification data report, which shows that 1.45 million homeowners received a foreclosure alternative solution. But, there’s more.

from Byrd Mix http://ift.tt/1p5hyMq via byrd memphis developer


from Tumblr http://ift.tt/21LZ1G9

Los Angeles officials begin taking tiny houses from the homeless

Elvis Summers took it upon himself to start a GoFundMe campaign last spring so he could build tiny houses for homeless people in Los Angeles to live in. The mayor’s office said it’s just not safe for the homeless to live that way. What do you think?

from Byrd Mix http://ift.tt/1Yc2W9A via byrd memphis developer


from Tumblr http://ift.tt/21cPmmb

Bank of New York Mellon to face lawsuit over toxic mortgages

A U.S. judge ruled on Thursday that Bank of New York Mellon must face a lawsuit seeking to hold it liable for causing $1.12 billion of investor losses due to toxic residential mortgage. This is only the latest case from Manhattan federal judges over similar claims.

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


from Tumblr http://ift.tt/21LZ1G5

Why won’t homebuilders better serve Millennials?

Millennials are slow to enter the housing market, and there’s an extreme shortage of inventory in the housing market. So which problem gets solved first? As it stands, both areas are finally expected to take off over the next few years.

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


from Tumblr http://ift.tt/21cPm5T

Employment on the rise, but labor market still shrinking

While the U.S. employment rate soared in February, the unemployment rate stayed the same at 4.9%. According to the Bureau of Labor Statistics’ February report, employment gains occurred in health care and social assistance, retail trade, food services and private educational services.

from Byrd Mix http://ift.tt/1oVp9MK via byrd memphis developer


from Tumblr http://ift.tt/21LZ1FY

4 ways the Qualified Mortgage rule doesn’t reduce mortgage lending

When the Qualified Mortgage rule came out in January 2014, many worried that the rule would contribute to a reduction in mortgage credit availability. But that’s not the case. In an updated analysis, Urban Institute housing and mortgage experts say that the rule does little to impact the availability of mortgage credit.

from Byrd Mix http://ift.tt/1QSokL7 via byrd memphis developer


from Tumblr http://ift.tt/21cPp1x

GSEs still looking into 'feasibility' of alternate credit score models

As talk about alternative credit scoring heats up in Washington D.C., the Federal Housing Finance Agency’s latest 2015 Scorecard Progress Report released further insight on where it currently stands on the idea. So far, the process for change is far from over.

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


from Tumblr http://ift.tt/1oUhIp8

Fortune names Quicken Loans the fifth best place to work in America

Fortune Magazine named its 100 best companies to work for, and Quicken Loans came in fifth, followed by 10 other companies related to the housing industry. The rankings are based mainly on benefits employees receive and the workplace environment.

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


from Tumblr http://ift.tt/21Jf4o0

MBA: Mortgage credit availability remained unchanged in February

“Credit availability was flat over the month,” said Lynn Fisher, MBA vice president of research and economics. “Slight declines in conventional programs aimed at low-to-moderate income borrowers were offset by increasing availability of government-backed programs.”

from Byrd Mix http://ift.tt/1p2Ba3B via byrd memphis developer


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

Here are winter’s top 5 hottest single-family housing markets

Of the five markets highlighted in Ten-X’s winter 2015 single-family market rankings, only Las Vegas is new to the top five, jumping from 20th place to fifth place. The top three — Seattle, Fort Lauderdale, and Orlando — remain unchanged, while Portland squeezed ahead one spot from fifth place to fourth place.

from Byrd Mix http://ift.tt/1VTOl0X via byrd memphis developer


from Tumblr http://ift.tt/21Jf6w3

Household incomes can't keep up with rising home prices in Texas

Demand for new housing rose in Texas during 2015, but the median household income decreased. Strong population growth, relocation activity and low housing inventory levels are all factors in the growing need for new housing in the Lone Star state.

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


from Tumblr http://ift.tt/1oUhI8y

RealtyTrac: Home flipping rose in 75% of markets in 2015

The number of homes flipped in 2015 was the highest in nearly 10 years, according to a report from RealtyTrac, and that trend is trickling down to smaller investors. Find out which metro areas saw the highest average gross flipping profits.

from Byrd Mix http://ift.tt/1p2emRz via byrd memphis developer


from Tumblr http://ift.tt/21Jf6fI

Stonegate Mortgage backs off distributed retail lending

Executives at Stonegate Mortgage disclosed in the fourth-quarter earnings call the lender’s plans to back off distributed retail lending, a decision that follows similar moves in the industry as of late. Going forward, the lender said it will instead focus on optimizing the remaining distributed retail footprint and increase profitability.

from Byrd Mix http://ift.tt/21a72Pw via byrd memphis developer


from Tumblr http://ift.tt/1oUhH4G

Freddie Mac: Mortgage rates finally reverse course, increase

After trending lower for most of this year, mortgage rates finally reversed course and increased. Freddie Mac attributed the change to the market turbulence that kicked off the year subsiding at the end of February.

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


from Tumblr http://ift.tt/21Jf47s

Thursday, March 3, 2016

Observations from ABS Vegas: The long-anticipated deal agent is nearly here...

The main reason why we’re not seeing new private-label mortgage deals, at the moment, is that the economics of private-label securitization simply don’t work in the current low-rate environment. Prime jumbo securitizations have slowed significantly. In 2015, for example, Kroll said 38 prime jumbo deals came to market, but in 2016, year to date, that number (by my count) is two.

from Byrd Mix http://ift.tt/24E4PAs via byrd memphis developer


from Tumblr http://ift.tt/1QWb52v

Former Fannie Mae CEO to face SEC charges for subprime mortgages

Daniel Mudd, the former CEO of Fannie Mae, must face a civil trial over charges that he misled investors about the GSE’s exposure to subprime loans prior to the financial crisis. While other Fannie executives recently announced a settlement, the ending is still unwritten for Mudd, with evidence possibly showing that he knew what he was doing was false.

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


from Tumblr http://ift.tt/1UBE5fu

No, this is not the end of refinance mortgage applications

While the market saw a decline in mortgage applications during February, economists do not believe the trend will continue. Influenced in part by the seasonal market, as the job market improves, economists believe the housing market will continue to steadily increase throughout 2016.

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


from Tumblr http://ift.tt/1RKok3f

It’s official: Original NMS servicers pass final metric tests

The original servicers of the National Mortgage Settlement finished the final metric tests, marking the completion of the NMS rules for the servicers. After lot of tests and oversight, these five banks undertook more than 630,000 transactions and provided borrowers with more than $50 billion in consumer relief.

from Byrd Mix http://ift.tt/1p0t5wg via byrd memphis developer


from Tumblr http://ift.tt/1UBE5fm

A social media guide for LOs and real estate agents to be successful

When Millennials start doing their research online to buy a home, they will look to the individual employee’s social media presence and customer reviews - not the company’s. This highlights the importance of the social media presence of loan officers and real estate agents in order to be successful and competitive in the market. Here is a list of “do’s and don’ts” for employees to follow.

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


from Tumblr http://ift.tt/1RKok36

Marketplace Home Mortgage opens third Wisconsin office

As springtime nears, owners of Marketplace Home Mortgage announced they opened their third office in Wisconsin and are preparing to open more. They anticipate a busy spring and want to build client relationships before the season begins.

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


from Tumblr http://ift.tt/1UBE7nx