Friday, March 31, 2017

Morgan Stanley passes $300 million in consumer relief in mortgage bond settlement

Morgan Stanley handed out nearly $200 million in consumer relief over the last few months, pushing the company past the 75% mark in its $400 million consumer relief obligation that is part of the $3.2 billion mortgage bond settlement it reached last year.

from Byrd Mix http://ift.tt/2oIo8rH via byrd memphis developer


from Tumblr http://ift.tt/2nFkmQs

Ballard Spahr: Here are some questions for the House to ask CFPB Director Cordray

Consumer Financial Protection Bureau Director Richard Cordray hasn’t gone on record a lot in regards to his stance on the future of the bureau, along with his own future, despite the escalating uncertainty of both. Since the House Financial Services Committee will hold its semi-annual hearing on the CFPB on April 5, Ballard Spahr came up with a list of questions that it thinks would be appropriate for committee members to ask Cordray.

from Byrd Mix http://ift.tt/2mWHZam via byrd memphis developer


from Tumblr http://ift.tt/2oiWmpm

Realtors name February’s fastest housing markets

As the market gears up for what many economists are predicting will be one of the strongest spring home-buying seasons in recent memory, the National Association of Realtors created an infographic that shows the top five fastest markets in February. Spoiler alert: the fastest market saw homes sold in an average of just 23 days.

from Byrd Mix http://ift.tt/2nrMSV0 via byrd memphis developer


from Tumblr http://ift.tt/2nFp4xQ

So you've heard about blockchain, but what is it?

Fintech is abuzz about blockchain, but what is it exactly? Factom CEO and co-founder Peter Kirby explains the intricacies of blockchain, along with how it applies to the mortgage industry. This is especially important since its design should help streamline the mortgage process.

from Byrd Mix http://ift.tt/2oIdIIw via byrd memphis developer


from Tumblr http://ift.tt/2oj3tOz

Consumer optimism surges due to lowered standards

Consumers grew even more optimistic despite the increasing partisan divide. However, this growing optimism could be due, in part, to a change in evaluative criteria. As for the partisan divide, economists continue to predict it will soften in the months to come.

from Byrd Mix http://ift.tt/2nIqKIx via byrd memphis developer


from Tumblr http://ift.tt/2nFuysf

Democrats rally together to support CFPB in case against PHH

Congressional Democrats filed an amicus brief on Friday with the D.C. Circuit Court of Appeals in support of the bureau’s independent structure and constitutionality. “In creating the Bureau, lawmakers determined that it needed two key attributes to fulfill its mission: independence, and the ability to act promptly and decisively in response to new threats to consumers,” the lawmakers wrote.

from Byrd Mix http://ift.tt/2nnWsr4 via byrd memphis developer


from Tumblr http://ift.tt/2oj8LJR

An inside look at Ben Carson’s listening tour

HUD Secretary Ben Carson’s latest stop on his listening tour landed right in HousingWire’s own backyard – Dallas, Texas. While Thursday’s focus was more on Carson’s speech to the community, the secretary said very little on Friday. Instead, he listened to community organizations on the programs they implemented. Here is an inside look at what happened during the tour.

from Byrd Mix http://ift.tt/2opXR25 via byrd memphis developer


from Tumblr http://ift.tt/2nFtrsN

Redfin: Low down payments still work in today’s competitive market

Despite the current lack of inventory in the housing market, homebuyers can still successfully close on a house with a low down payment, according to a survey this month of more than 800 Redfin real estate agents. It’s important to note given the growing prominence of low down payment mortgage options.

from Byrd Mix http://ift.tt/2nIcJKJ via byrd memphis developer


from Tumblr http://ift.tt/2ojbHpL

Caliber Home Loans finalizes acquisition of Banc Home Loans

Caliber Home Loans’ acquisition of Banc Home Loans, the mortgage banking division of Banc of California, is now complete. Caliber, an Irving, Texas-based residential mortgage origination and servicing company, announced Friday that it finalized the purchase of Banc Home Loans. Here are some details on the deal.

from Byrd Mix http://ift.tt/2oHhiTk via byrd memphis developer


from Tumblr http://ift.tt/2nFnCvn

Altisource Residential growing single-family rental business again

Last year, Altisource Residential doubled its portfolio of single-family rental homes in one deal, buying a portfolio of 4,262 single-family rental properties for $652.3 million from “investment funds sponsored by Amherst Holdings.” And Friday, the company announced that it is growing its single-family rental portfolio again, in another deal with Amherst Holdings affiliates.

from Byrd Mix http://ift.tt/2ohOpk2 via byrd memphis developer


from Tumblr http://ift.tt/2oj0NQF

PHH shakes up senior leadership, CEO Glen Messina departing

Over the last few years, it’s been a two-pronged battle for PHH Corp. On one side, the company is locked in a legal war with the Consumer Financial Protection Bureau. On the other side, PHH’s business has undergone dramatic shifts. One of the few constants during this time of transition has been the company’s CEO, Glen Messina. But that’s not the case anymore.

from Byrd Mix http://ift.tt/2nmYYOs via byrd memphis developer


from Tumblr http://ift.tt/2nFh3J8

Wells Fargo to face another lawsuit over defective mortgage securities

Mega bank Wells Fargo is still not done working through the aftermath of the financial crisis. A judge ruled this week that plaintiff can move forward with a lawsuit against the bank over faulty residential mortgage-backed securities. Will Wells Fargo soon be done dealing with settlements from the crisis?

from Byrd Mix http://ift.tt/2ohrVQ4 via byrd memphis developer


from Tumblr http://ift.tt/2oj1IAU

Ben Carson in Dallas: HUD's mission is about more than housing

Department of Housing and Urban Development Secretary Ben Carson brought his listening tour to Dallas on Thursday, spending part of his day at the Dallas Housing Authority before attending a public event at the Texas Rangers Youth Academy in West Dallas. During his visit to the Rangers’ facility, Carson gave a short speech to the crowd, laying out a small piece of what his vision for HUD is.

from Byrd Mix http://ift.tt/2oePWaz via byrd memphis developer


from Tumblr http://ift.tt/2nm8eSU

Thursday, March 30, 2017

Capital Economics: Will President Trump's regulation changes boost housing starts?

Given the recent drought in housing inventory across the nation, the industry welcomed the recent news that homebuilder confidence surged in March due to President Donald Trump’s actions on regulatory reform. The news, while positive, isn’t guaranteed to turn into increased housing starts though. Instead, here are three likely outcomes.

from Byrd Mix http://ift.tt/2nB3cUm via byrd memphis developer


from Tumblr http://ift.tt/2nkYI24

ATTOM: First quarter sees lowest home affordability since 2009

Housing affordability continues to slip lower, hitting levels not seen since 2008 and 2009. More housing markets are slipping below historical levels and homeownership is becoming out of reach for many as average incomes can’t keep up with growing home prices.

from Byrd Mix http://ift.tt/2omN8Fr via byrd memphis developer


from Tumblr http://ift.tt/2mTUhjA

Don't let the deregulatory talk take your focus off quality control

If your town cut back on the number of police officers who patrol your streets, would people suddenly start speeding and ignoring the traffic laws? Probably not because it’s the safe thing to do. The same goes for financial regulations. While there’s been a lot of talk in Washington lately about rolling back, if not eliminating, many parts of the Dodd-Frank law, originators still need to keep their eyes squarely on producing quality loans.

from Byrd Mix http://ift.tt/2nAQe8V via byrd memphis developer


from Tumblr http://ift.tt/2nkOhvA

Ten-X predicts increase in existing home sales

This month’s report from Ten-X indicates that existing home sales in March will increase slightly. The company explains the big question is whether there will be enough homes for sale to meet the demand.

from Byrd Mix http://ift.tt/2oDJuXc via byrd memphis developer


from Tumblr http://ift.tt/2mU991s

Here are the 25 markets with the highest returns for single-family homes

A new list from RentRane is out on the top 25 rental markets with the highest average gross yield, with a heavy focus on non-coastal markets. However, for those looking to invest in housing, RentRange does give some extra advice to keep in mind with these markets.

from Byrd Mix http://ift.tt/2nFgcK5 via byrd memphis developer


from Tumblr http://ift.tt/2nl0el7

Final GDP estimate comes in higher for fourth quarter

While most of the economic data from previous estimates remained largely the same, the fourth quarter’s gross domestic product came in slightly higher on the Bureau of Economic Analysis’ final estimate. Here are the updates to the fourth quarter’s GDP.

from Byrd Mix http://ift.tt/2nnPGCw via byrd memphis developer


from Tumblr http://ift.tt/2mU4TPv

Goodbye plywood: Fannie Mae no longer allows plywood in pre-foreclosure

In November, Fannie Mae announced that mortgage servicers would be reimbursed for using clear boarding instead of plywood when securing houses that were in pre-foreclosure. That announcement was not retroactive, meaning it only applied to new pre-foreclosures. But that’s not the case anymore, as Fannie Mae announced this week that it is moving away from plywood entirely.

from Byrd Mix http://ift.tt/2odopGx via byrd memphis developer


from Tumblr http://ift.tt/2nkTcww

Zillow launching RealEstate.com, new site focused on Millennials

Zillow Group is set to launch a new real estate website that is designed especially for Millennials. The online real estate company will launch the website later this spring from a URL it acquired with the acquisition of Trulia.

from Byrd Mix http://ift.tt/2nPx41f via byrd memphis developer


from Tumblr http://ift.tt/2mU30SU

NAR: Trouble ahead as National Flood Insurance Program expiration date nears

The National Flood Insurance Program is set to expire six months from Thursday on Sept. 30, 2017. The looming deadline prompted the National Association of Realtors to try to bring awareness to the consequences of letting the program expire, which could disrupt thousands of loans.

from Byrd Mix http://ift.tt/2nkdO8p via byrd memphis developer


from Tumblr http://ift.tt/2nl0gJM

U.S. Bancorp Fund Services president Joe Redwine to retire, Joe Neuberger named successor

“It is truly an honor to be named the next president of U.S. Bancorp Fund Services. I am passionate about our associates, clients, partnerships and commitment to a tradition of service excellence,” Neuberger said.

from Byrd Mix http://ift.tt/2odqQZB via byrd memphis developer


from Tumblr http://ift.tt/2mUdTnQ

Freddie Mac: Mortgage rates see second consecutive week of major declines

Mortgage rates dropped for the second week in a row, however, these fluctuating rates didn’t slow down new home sales, Freddie Mac’s chief economist pointed out. As the 30-year mortgage rate dropped yet again, the Treasury yield remained flat from the previous week.

from Byrd Mix http://ift.tt/2oCo5h4 via byrd memphis developer


from Tumblr http://ift.tt/2nl0bWt

Wednesday, March 29, 2017

Deutsche Bank looks at other options to fulfill consumer relief settlement requirements

Deutsche Bank AG is considering options to fulfill its $4.1 billion requirement to provide consumer relief to borrowers as part of a larger legal settlement. As it stands, the bank is struggling to find enough soured U.S. mortgage debt to satisfy the obligation. Here’s the alternative method the bank is looking at.

from Byrd Mix http://ift.tt/2nNAh1o via byrd memphis developer


from Tumblr http://ift.tt/2o9W2ZH

HUD Secretary Ben Carson comes to Dallas/Ft. Worth in next stop on listening tour

When Ben Carson officially became the Secretary of the Department of Housing and Urban Development, he said that one of his first actions would be embarking on a “listening tour” of communities and HUD offices across the country. The next stop on Carson’s tour will be the Dallas/Ft. Worth metroplex. Here’s a look at his plans for his time in DFW.



from Byrd Mix http://ift.tt/2nBxrvH via byrd memphis developer
from Tumblr http://ift.tt/2oA7VVw

Freddie Mac: Affordability to hold back home sales in 2017

The squeeze in housing inventory is sending home prices even higher, creating declines in affordability and putting a pinch on prospective homebuyers. Freddie Mac also predicted a drop in mortgage originations of 25%, however the report showed this will come almost entirely from plummeting refinances.

from Byrd Mix http://ift.tt/2ozFAyK via byrd memphis developer


from Tumblr http://ift.tt/2o9F5i0

What is the most likely outcome for the CFPB?

As the confusion and uncertainty around the Consumer Financial Protection Bureau only escalates rather than dissipating, HousingWire gathered three expert panelists to weigh in on the discussion. The panelists gave their insights on what are the most likely steps forward for the government and bureau. Will the bureau even be around in 2018?

from Byrd Mix http://ift.tt/2oA5UbX via byrd memphis developer


from Tumblr http://ift.tt/2oA7Y3E

Consumer confidence surges to 16-year high

Consumer confidence surged in March to its highest level since 2000, following the optimism seen in other parts of the housing market. Consumers are more optimistic about every area of the economy including the labor market, current and future economic conditions.

from Byrd Mix http://ift.tt/2nASCOy via byrd memphis developer


from Tumblr http://ift.tt/2o9UcIy

Guild Mortgage launches digital mortgage with help from Roostify

Guild Mortgage is going digital, as the lender announced this week that it is launching its own digital mortgage, becoming the latest in a string of lenders choosing to go digital. In the last year or so, lenders like Quicken Loans, Caliber Home Loans, United Wholesale Mortgage, and JPMorgan Chase went digital. Now, Guild Mortgage has its own option, called MyMortgage.

from Byrd Mix http://ift.tt/2nMwOjJ via byrd memphis developer


from Tumblr http://ift.tt/2ozYvJx

Freddie Mac plans launch of automated underwriting in 2017

The Federal Housing Finance Agency on Wednesday released a comprehensive report on how Fannie Mae and Freddie Mac performed in 2016, measured against the goals laid out for the government-sponsored enterprises in 2014. One of the highlights? Freddie Mac plans to begin using automated underwriting in 2017.

from Byrd Mix http://ift.tt/2nx7AU5 via byrd memphis developer


from Tumblr http://ift.tt/2o9NqCF

Fannie Mae sells off $26 million in NPLs to nonprofit

A nonprofit financial institution won the bid for Fannie Mae’s sixth Community Impact Pool of non-performing loans. This deal on nearly $26 million in NPLs is expected to close near the end of May. Here are the details on the sale.

from Byrd Mix http://ift.tt/2ocxUWW via byrd memphis developer


from Tumblr http://ift.tt/2oA8PRO

Dear lenders, we critically need more young talent in mortgage finance

Lenders and vendors of the tech world filled the expo hall at the Hyatt Regency in downtown Chicago for the Mortgage Bankers Association’s National Technology in Mortgage Banking Conference and Expo. But there was one element that was clearly lacking after scanning the room of attendees. There were few young professionals. How does the industry fix this?

from Byrd Mix http://ift.tt/2nw26Jd via byrd memphis developer


from Tumblr http://ift.tt/2o9Ucbp

Pending home sales rebound to highest level in a year

Pending home sales rebounded from January’s decrease, hitting the highest level in almost a year and the second-highest level in a decade. NAR’s chief economist commented that buyers came back in force last month as a modest, seasonal uptick in listings was enough to fuel an increase in contract signings throughout the country.

from Byrd Mix http://ift.tt/2oyyLNJ via byrd memphis developer


from Tumblr http://ift.tt/2ocGGnY

MBA: Refinance applications fall to eight-year low

The share of mortgage applications for refinances just fell to a level not seen since October 2008, new data from the Mortgage Bankers Association showed. According to the MBA’s latest Weekly Mortgage Applications Survey, the refinance share of mortgage activity declined to 44% percent of total applications, the lowest that figure has been in more than eight years.

from Byrd Mix http://ift.tt/2oxp6ag via byrd memphis developer


from Tumblr http://ift.tt/2mPyPwg

Here's what's wrong with the CFPB's practice of regulating through enforcement

CFPB Director Richard Cordray asserts that protecting consumers in financial matters involves too many bad actors trying to do too many bad things to be outlined in specific laws. As it turns out, it sounds like the CFPB might decide to take enforcement action against one particular company if they need to “send a public message of deterrence” to the whole industry. This is ludicrous.

from Byrd Mix http://ift.tt/2o8SQOu via byrd memphis developer


from Tumblr http://ift.tt/2nj542P

Tuesday, March 28, 2017

Here are tips on knowing whether to build, buy or partner for mortgage technology

As mortgage technology infiltrates the industry, it poses a question for lenders on how they want to move forward into the new world. Joseph Tyrrell, executive vice president of corporate strategy with Ellie Mae, sat with HousingWire at the MBA tech conference to give tips on how companies can decide whether they should build, buy or partner to get this technology.

from Byrd Mix http://ift.tt/2owalo4 via byrd memphis developer


from Tumblr http://ift.tt/2ntfihX

Wells Fargo reaches $110 million class action settlement over fake accounts

The fallout from Wells Fargo’s fake account fiasco is far from over, as the bank announced late Tuesday that it reached a $110 million settlement in a class action lawsuit brought on behalf of the bank’s customers who had a fake account opened in their name. Click the headline to read more about the settlement.

from Byrd Mix http://ift.tt/2oenL8M via byrd memphis developer


from Tumblr http://ift.tt/2o4G4A9

Kudos: celebrating milestones, launches and awards in the mortgage industry

Twenty employees from ReverseVision teamed up with the San Diego Food Bank in January to help local residents in need. The employees spent a day of service at the food bank’s 80,000-square-foot warehouse in Miramar, California, checking expiration dates, inspecting donated food for quality, assembling 766 boxes of food for the Senior Food Program and packaging 2,500 pounds of potatoes for distribution.

from Byrd Mix http://ift.tt/2nJMLHg via byrd memphis developer


from Tumblr http://ift.tt/2ntdxRW

Mercury Network acquiring Appraisal Scope

Last year, Mercury Network, an appraisal management system, announced plans to expand by acquiring Platinum Data Solutions, a QC technology company. And it turns out that the company is not done growing, as the company announced this week that it is acquiring Appraisal Scope, a provider of valuation management software.

from Byrd Mix http://ift.tt/2ovHal9 via byrd memphis developer


from Tumblr http://ift.tt/2o4KcA1

Here's some good news about the mortgage industry

Perhaps the most smile worthy recognition goes to the companies in our giving back section: NewDay USA, Independent Settlement Services, Network Funding and ReverseVision.

from Byrd Mix http://ift.tt/2nt8IIo via byrd memphis developer


from Tumblr http://ift.tt/2ntcJMW

Lending to Hispanics – a whole new ballgame

When it comes to lending to Hispanics – non-Hispanic lenders are out of their league as they struggle to serve a community they don’t understand. From dealing with a credit-invisible population to navigating the diverse family demographics, Hispanics don’t fit the usual mold for mortgage lending.

from Byrd Mix http://ift.tt/2oewbNI via byrd memphis developer


from Tumblr http://ift.tt/2o4SsA2

Wells Fargo fails fair lending test due to "discriminatory and illegal" credit practices

Late last year, as the fallout from the fake account scandal at Wells Fargo was still in full force, rumors began to circulate that the bank could be facing another regulatory smackdown due to reportedly failing to meet its requirements under the Community Reinvestment Act. And Tuesday, the other shoe dropped, as the bank disclosed that it did indeed fail to meet its CRA requirements.

from Byrd Mix http://ift.tt/2nrO6An via byrd memphis developer


from Tumblr http://ift.tt/2nthTsu

Case-Shiller reaction: What to make of record high home prices

The latest S&P CoreLogic Case-Shiller Indices showed that home prices hit a 31-month high in January, but will those record prices be a speed bump or a brick wall for home buying moving forward? Opinions appear to be a bit mixed in that regard, with some analysts viewing January’s data as a significant drawback for certain segments of the home-buying market, while others say the rising prices aren’t a concern, yet.

from Byrd Mix http://ift.tt/2odpvz0 via byrd memphis developer


from Tumblr http://ift.tt/2o4A6zd

How to navigate mortgage lending to a credit-invisible population

At the National Association of Hispanic Real Estate Professionals 2017 Housing Policy and Hispanic Lending Conference, experts explain some of the obstacles Hispanics must overcome in order to buy a home – including traditional credit check barriers.

from Byrd Mix http://ift.tt/2nKwwcT via byrd memphis developer


from Tumblr http://ift.tt/2ntdVQs

Meet today's driving force behind homeownership rates: Hispanics

Industry professionals gathered to talk about the state of Hispanic homeownership in the U.S. at the National Association of Hispanic Real Estate Professionals’ 2017 policy conference. As it turns out, Hispanics are currently the driving force in today’s homeownership rate.

from Byrd Mix http://ift.tt/2o2rJUF via byrd memphis developer


from Tumblr http://ift.tt/2o4Kc2Z

MBA chief economist: The answer to the rising cost to produce a mortgage

After updating attendees with the status of the industry, which included the challenges of dealing with the housing inventory drought and ever-rising interest rates, the Mortgage Bankers Association’s chief economist concluded his presentation with a call to action. To the industry: This is what you need to do to fix the rising costs to produce a mortgage.

from Byrd Mix http://ift.tt/2nrhg2s via byrd memphis developer


from Tumblr http://ift.tt/2nti9Ys

Case-Shiller: Home prices keep rising, hit 31-month high

Home prices continued to rise in January, reaching a record-high for the fifth month in a row, according to the new S&P CoreLogic Case-Shiller Indices, a measure of U.S. home prices. January’s increase places the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index at a 31-month high.

from Byrd Mix http://ift.tt/2nfaN9P via byrd memphis developer


from Tumblr http://ift.tt/2o4CN3V

ATTOM launches new housing marketing product

ATTOM Data Solutions today announced a new marketing product that will identify properties with a high likelihood of selling within 30 days. The database performed several tests on its new product to see how indicative the leads were of closed sales transactions. Here’s what the studies found.

from Byrd Mix http://ift.tt/2ncvDGg via byrd memphis developer


from Tumblr http://ift.tt/2nf9hoj

Ocwen now one giant step closer to acquiring MSRs again after new NYDFS agreement

For more than two years, Ocwen Financial has been prohibited from acquiring new mortgage servicing rights in bulk, thanks to the company’s $150 million settlement with the New York Department of Financial Services. Now, it appears that Ocwen could be on the brink of returning to the MSR market full force, after the nonbank announced Monday that it reached a new agreement with the NYDFS. Click the headline for the full story.

from Byrd Mix http://ift.tt/2oaIcDO via byrd memphis developer


from Tumblr http://ift.tt/2nwHMJz

United Wholesale Mortgage unveils fully digital mortgage for brokers

Mortgage brokers now have the ability to compete with Quicken Loans’ Rocket Mortgage and other digital mortgage options from large lenders, as United Wholesale Mortgage unveiled its own fully digital mortgage that brokers can offer to their borrowers. Here are the details on UWM’s “BLINK.”

from Byrd Mix http://ift.tt/2orXHGO via byrd memphis developer


from Tumblr http://ift.tt/2nff7pE

Here's the final tally on Fannie, Freddie credit risk-sharing in 2016

In 2013, Fannie Mae and Freddie Mac began shifting credit risk to investors as part of a plan to reduce the overall risk of the government-sponsored enterprises, and therefore, the risk to the American taxpayers. And a new report published Monday by the Federal Housing Finance Agency shows how much progress the GSEs are making in their collective effort to protect the taxpayers from risk.

from Byrd Mix http://ift.tt/2naImcn via byrd memphis developer


from Tumblr http://ift.tt/2nwLjr5

Castle & Cooke Mortgage president appointed to Fannie Mae Single-Family Risk Advisory Board

“Given the important role Fannie Mae plays in our housing economy, this appointment is a real honor. I look forward to sharing my insights with other board members and working together to address important industry challenges,“ Adam Thorpe said.

from Byrd Mix http://ift.tt/2naYTOt via byrd memphis developer


from Tumblr http://ift.tt/2nffGA3

First American: Housing affordability improves marginally in January

Housing affordability improved in January as homebuyers increased their buying power. But despite the monthly increase in affordability and continued strong wage growth, homes are less affordable across the country compared to a year ago.

from Byrd Mix http://ift.tt/2nYVRR2 via byrd memphis developer


from Tumblr http://ift.tt/2nwIW7D

Tech talk at MBA: Do we build technology or do we partner?

No one in the mortgage industry needs to be convinced about the power, prominence and appeal of technology anymore. Look no further than the Mortgage Bankers Association’s National Technology in Mortgage Banking Conference and Expo in Chicago for proof. Helping kick off the conference on Monday, executives from JPMorgan Chase, Ellie Mae, USAA and Quicken Loans discussed their perspectives on fintech.

from Byrd Mix http://ift.tt/2o2UIbv via byrd memphis developer


from Tumblr http://ift.tt/2nfebS4

cloudvirga raises $15 million; funding led by Blackstone’s Incenter

Over the last year, Incenter increased its reach by launching a mortgage-focused broker-dealer called Incenter Securities Group and expanding into title and settlement services with the acquisition of Boston National, a provider of title and settlement services. Now, Incenter, a Blackstone Group portfolio company, is expanding its reach again by investing in cloudvirga, a provider of mortgage process automation.

from Byrd Mix http://ift.tt/2oa4V2M via byrd memphis developer


from Tumblr http://ift.tt/2nwwGnE

Fifth Third Bank names Matthew Jauchius chief marketing officer

Fifth Third Bank announced the addition of Matthew Jauchius as executive vice president and chief marketing officer. He will oversee marketing and customer experience and will report to Chief Strategy Officer Tim Spence.

from Byrd Mix http://ift.tt/2mJhjcN via byrd memphis developer


from Tumblr http://ift.tt/2nfamg0

Airbnb user fined $1,000 for listing in Trump Tower

One Airbnb user received a fine of $1,000 for advertising a listing in Trump Tower. New York City began cracking down on Airbnb listings in February as a result of a new law that makes advertising the listings illegal, as well as renting them out.

from Byrd Mix http://ift.tt/2o2qFk4 via byrd memphis developer


from Tumblr http://ift.tt/2obmUpt

Monday, March 27, 2017

Fannie Mae: Lender optimism higher than ever

Consistent with the rest of the market, including builders and consumers, a new survey from Fannie Mae shows even lenders are hitting new survey highs when it comes to confidence in the economy. However, as the market shifts away from refinance mortgages, profit margin outlooks remain low among lenders.

from Byrd Mix http://ift.tt/2oqfuOA via byrd memphis developer


from Tumblr http://ift.tt/2oqycp6

Factom releases new solutions that leverage blockchain technology

Factom, a blockchain-as-a-service (BaaS) technology company, released a new suite of products designed to work with existing imaging or document management solutions to create a secure, transparent and unalterable record for final loan documents.

from Byrd Mix http://ift.tt/2nqS1iy via byrd memphis developer


from Tumblr http://ift.tt/2omCSMW

Monday Morning Cup of Coffee: The dark side of mortgage automation

Lots of people, including your friends here at HousingWire, have noted that the mortgage industry is ripe for tech disruption. But buried in all the good news about efficiency, lower costs and borrower satisfaction is the potential for serious job loss. Here’s a look at how the technological revolution could impact the financial services industry. All that, and much more, in your Monday Morning Cup of Coffee.

from Byrd Mix http://ift.tt/2n8EzgD via byrd memphis developer


from Tumblr http://ift.tt/2n7wpEA

Saturday, March 25, 2017

NAHB: White House asked for our help to get Gorsuch on Supreme Court

With the threat of Democratic filibuster looming in the Senate, the White House is apparently turning to homebuilders for help with getting Neil Gorsuch confirmed as the country’s next Supreme Court Justice. And according a post from the National Association of Homebuilders, the group will answer the White House’s call.

from Byrd Mix http://ift.tt/2nNU80W via byrd memphis developer


from Tumblr http://ift.tt/2n1Mgo3

Trulia: Housing inventory tumbles to all-new low

Housing inventory decreased in the first quarter of 2017, hitting an all-new low. But while inventory for starter and trade-up homes is shrinking, premium home inventory is increasing. Trulia explains the reasons for the dwindling inventory, and the new threat rising home prices impose.

from Byrd Mix http://ift.tt/2n0m3Gt via byrd memphis developer


from Tumblr http://ift.tt/2nPi9V3

OCC: Charts prove borrowers keep getting better at paying their mortgage

Keeping up with the rest of the year, the Office of the Comptroller of the Currency’s latest quarterly report on mortgages showed that borrowers are continuing to get better at paying their mortgages. The report falls in line with previous reports that showed the overall performance of mortgages improving from the previous year.

from Byrd Mix http://ift.tt/2n0d9sw via byrd memphis developer


from Tumblr http://ift.tt/2n1LfMI

Friday, March 24, 2017

Placester continues growth with $50 million capital raise

Over the last few years, Placester, a Boston-based real estate marketing platform, experienced rapid growth, raising $50 million in three rounds of funding and acquiring RealSatisfied, an Australian company that provides a suite of customer satisfaction tools that provides big data insights to brokers, agents and brands. Now, Placester is growing again.

from Byrd Mix http://ift.tt/2nQSADQ via byrd memphis developer


from Tumblr http://ift.tt/2nfSlie

Value of housing market hits 10-year high

The value of the housing market reached its highest point in 10 years and surpassed the pre-crisis peak. This increase was fueled by rising home prices as home equity reached an all new high of $14 trillion.

from Byrd Mix http://ift.tt/2nwtlFU via byrd memphis developer


from Tumblr http://ift.tt/2nluoI5

Long Island mortgage banker gets 12+ years for $100 million mortgage fraud scheme

In another case stemming from the mortgage business’ Wild Wild West days, the former owner and CEO of a New York mortgage bank will spend the next 150 months in prison after being convicted of a $100 million mortgage fraud scheme that cost financial institutions $30 million.

from Byrd Mix http://ift.tt/2nfp7Ac via byrd memphis developer


from Tumblr http://ift.tt/2nfRVZ9

Nomura: Don't make too much out of Nationstar CFO's departure

Earlier this week, Nationstar Mortgage surprised the market a bit when it announced that its chief financial officer, Robert Stiles, is departing the company. But according to a report from Nomura, not only does there not appear to be a hidden story behind Stiles’ departure, the company likely won’t suffer at all with Amar Patel serving as interim CFO.

from Byrd Mix http://ift.tt/2nwuJIC via byrd memphis developer


from Tumblr http://ift.tt/2nlvgN1

Suburbs once again outgrowing cities after 10-year pause

Migration patterns show Americans are moving from inner cities to suburbs, a shift that hasn’t been seen since before the housing crisis. Rising home prices continue to push homebuyers away from booming city markets.

from Byrd Mix http://ift.tt/2mYVQI4 via byrd memphis developer


from Tumblr http://ift.tt/2nfWhzH

CFPB proposes amendments to Equal Credit Opportunity Act

The Consumer Financial Protection Bureau announced it is reassessing the Equal Credit Opportunity Act in order to provide lenders with additional flexibility when collecting consumer ethnicity and race information. The new proposal looks to clarify, through rulemaking, the parts of Regulation B that seem to conflict with Regulation C requirements on collecting this information.

from Byrd Mix http://ift.tt/2nwOW0U via byrd memphis developer


from Tumblr http://ift.tt/2nlGXD5

First American: Fraud and misrepresentation grew in February

First American released its monthly Loan Application Defect Index, which showed loans became more risky in February due to increasing interest rates and a move toward adjustable rate mortgages. What else is behind the rise in these riskier loans? Click the headline to read more.

from Byrd Mix http://ift.tt/2mZbNOw via byrd memphis developer


from Tumblr http://ift.tt/2nfPshn

Thursday, March 23, 2017

Black Knight: Rising interest rates drive prepayment speeds to three-year low

Rising interest rates are driving prepayment speeds down significantly, a new report from Black Knight Financial Services shows. And with interest rates consistently rising over the last few months, and expected to continue climbing, prepayments are likely to continue slowing.

from Byrd Mix http://ift.tt/2muWime via byrd memphis developer


from Tumblr http://ift.tt/2mvGcc5

Innovation in housing and home financing takes the stage at SXSW 2017

For many people, South By Southwest represents the epitome of music exploration. What you may not realize is how the festival has grown over the last 30 years since it’s inception, not only exploring the future of entertainment and media, but also the best of innovation across technology and business. And now this year, innovation in housing and finance were brought center stage at SXSW. This is great news for an industry that’s behind when it comes to technology.

from Byrd Mix http://ift.tt/2npAvM1 via byrd memphis developer


from Tumblr http://ift.tt/2mXxa3M

Wednesday, March 22, 2017

MBA: Mortgage applications reverse course, fall

Mortgage applications reversed course and dipped slightly from the previous week due to a drop in both purchase and refinance applications. Meanwhile, the 30-year fixed-rate mortgage with a conforming loan balance managed to stay the same.

from Byrd Mix http://ift.tt/2o3MLyD via byrd memphis developer


from Tumblr http://ift.tt/2nBEiXb

Monday, March 20, 2017

First American launches new appraisal solutions technology

First American Mortgage Solutions launched its new appraisal solutions technology which could change how many appraisals are done and the time it takes to do them. Although currently much of the time it takes to close a loan is held up by the appraisal process, First American’s appraisal offering could make that a thing of the past, shortening wait times as it combines technology with the traditional appraisal process.

from Byrd Mix http://ift.tt/2nKeg0M via byrd memphis developer


from Tumblr http://ift.tt/2n79f4j

Monday Morning Cup of Coffee: Trump tapping familiar face to lead DOJ's civil division?

It looks like President Donald Trump is about to install a familiar face as the leader of the Department of Justice’s civil division. If that happens, what happens to the DOJ’s recently preferred tactic of using the False Claims Act to extract settlements from lenders for supposedly misrepresenting the quality of loans to the Federal Housing Administration? The answer, and more, in your Monday Morning Cup of Coffee.

from Byrd Mix http://ift.tt/2mKQW24 via byrd memphis developer


from Tumblr http://ift.tt/2nUgFpd

Saturday, March 18, 2017

[Video] Rep. Hill: It's a good time to reassess the impact of Dodd-Frank

In light of President Donald Trump’s budget proposal, House Financial Services Committee Majority Whip French Hill, R-Ark., went on record about his thoughts on the HUD budget. Included in his interview, Hill gives his thoughts on regulatory reform, echoing recent comments from the chairman of the House Financial Services Committee.

from Byrd Mix http://ift.tt/2mERpD4 via byrd memphis developer


from Tumblr http://ift.tt/2n8pWfW

In major reversal, U.S. sides with PHH, calls CFPB structure unconstitutional

Recently, the U.S. government began to give off indications that it might be switching sides in the landmark battle between the CFPB and PHH, signaling that the Trump administration would not be as supportive of the CFPB as the Obama administration had been. And Friday, that’s exactly what happened. Click the headline for the full story.

from Byrd Mix http://ift.tt/2mbT46R via byrd memphis developer


from Tumblr http://ift.tt/2mTyMfI

Key to Millennial homeownership: Education

A new study from United Wholesale Mortgage shows Millennials want to enter the housing market, but don’t know that they can. UWM explained the market needs to step up its game when it comes to first time homebuyers.

from Byrd Mix http://ift.tt/2mEQv9E via byrd memphis developer


from Tumblr http://ift.tt/2n8mYbr

Exclusive with former HUD Secretary Julián Castro: Trump budget will create more homeless veterans

Julián Castro served as secretary of the U.S. Department of Housing and Urban Development from 2014 to 2017 under former President Barack Obama. In an exclusive interview with HousingWire, Castro explains his concerns with the proposed $6.2 billion in budget cuts to HUD. In his words, “There’s no vision here. It’s almost like a cartoon cutout of an ideologue’s conception of the budget.” From homeless veterans to small towns, these are the areas he says will be the hardest hit.

from Byrd Mix http://ift.tt/2nj9ABX via byrd memphis developer


from Tumblr http://ift.tt/2mTFKkR

Friday, March 17, 2017

Freddie Mac sells $667 million in NPLs to private investors

As its fellow government-sponsored enterprise did earlier in the week, Freddie Mac announced Friday that it is selling hundreds of millions of dollars in non-performing loans to a familiar series of private investors. Here are the details of Freddie Mac’s latest NPL sale.

from Byrd Mix http://ift.tt/2mYkufv via byrd memphis developer


from Tumblr http://ift.tt/2nir6WG

HOA fees rose the most in these top metros

One of the few things that may be increasing faster than home prices is homeowner association fees, which increased at double the rate of the median home price from 2005 to 2015. In some of the most expensive markets, HOA fees can total over $500 per month, and take up more than 40% of monthly housing costs. Trulia’s new study shows markets that saw the highest increase.

from Byrd Mix http://ift.tt/2mRy0jl via byrd memphis developer


from Tumblr http://ift.tt/2nO2KAO

CFPB may fall under new executive order to reorganize executive branch

Unlike previous executive orders that did not apply to the Consumer Financial Protection Bureau, President Trump signed an executive order granting additional powers to either rework or eliminate “components of agencies, and agency programs.” However, one expert says it’s not that simple to overhaul the CFPB.

from Byrd Mix http://ift.tt/2mY32aY via byrd memphis developer


from Tumblr http://ift.tt/2nizCVN

Newly appointed Atlanta Fed President Raphael Bostic resigns from Freddie Mac board

Raphael Bostic, the newly appointed president and chief executive officer of the Federal Reserve Bank of Atlanta, will resign from his seat on Freddie Mac’s board of directors later this year, the government-sponsored enterprise announced Friday.

from Byrd Mix http://ift.tt/2mXZWUp via byrd memphis developer


from Tumblr http://ift.tt/2nNZ1mY

More Americans optimistic about economic future – except Democrats

Consumer confidence increased once again at the beginning of March. In fact, all signs of optimism in the market are up, with the exception of one demographic. Democrats optimism is so low it signals the economy is soon to move into a recession, according to the Survey of Consumers from the University of Michigan.

from Byrd Mix http://ift.tt/2nAdgwa via byrd memphis developer


from Tumblr http://ift.tt/2niHEhj

Is the CFPB in dire need of a new direction?

Readers don’t have to go any further than HousingWire’s search function to see the constant dialogue around the uncertain future of the Consumer Financial Protection Bureau. Regulation is king in mortgage finance, and right now the No. 1 industry watchdog is in limbo as the court and government try to overhaul its future. So where does this leave people in mortgage finance? These four CFPB and regulation experts have the answers.

from Byrd Mix http://ift.tt/2nO8zy2 via byrd memphis developer


from Tumblr http://ift.tt/2nNYCB5

LinkedIn and Zillow join forces to find best rental deals for finance workers

Zillow and LinkedIn teamed up to find the best markets for housing. However, rather than looking only at housing costs, the two companies combined it with the average salaries in the area. For the finance industry, here are the top 10 metros.

from Byrd Mix http://ift.tt/2mbgA44 via byrd memphis developer


from Tumblr http://ift.tt/2niJYoy

MBA: Trump’s budget shows political statement of priorities

The Mortgage Bankers Association explained President Donald Trump’s proposed budget shows housing is not a priority for the administration. The MBA explains it’s not just the cuts to HUD that show the president’s focus. The lack of housing direction in the budget can be just as telling as the funding cuts.

from Byrd Mix http://ift.tt/2mRNML6 via byrd memphis developer


from Tumblr http://ift.tt/2nO05XM

Here's what Ben Carson thinks about the proposed $6.2 billion HUD budget cut

In a move first hinted at over a week ago, President Donald Trump released his budget proposal on Thursday, complete with a proposed $6.2 billion cut to the funding for the Department of Housing and Urban Development. So, what does HUD Secretary Ben Carson think of the cuts to HUD’s budget? For one, he’s in favor of them.

from Byrd Mix http://ift.tt/2mytLHk via byrd memphis developer


from Tumblr http://ift.tt/2nyOJrA

Thursday, March 16, 2017

Urban Institute: HUD watchdog is wrong on borrower-financed down payment programs

A recent report from HUD’s watchdog said that HUD does not have sufficient oversight of borrower-financed down payment assistance programs for FHA-insured loans, which puts borrowers and the FHA’s flagship insurance fund at “unnecessary risk.” Analysts from the Urban Institute reviewed the report as well, and came to a different conclusion: HUD’s watchdog is wrong to call out the down payment assistance programs.

from Byrd Mix http://ift.tt/2mOpMIq via byrd memphis developer


from Tumblr http://ift.tt/2nKFaoE

[Charts] NAR survey breaks down problems plaguing appraisal industry

Not only does the appraisal industry have problems, but there is also a lot of disagreement around what exactly those problems are. This new survey of appraisers from the National Association of Realtors should help give more insight on what’s going on. What will it take for the appraisal industry to start training future appraisers.

from Byrd Mix http://ift.tt/2nx8jEu via byrd memphis developer


from Tumblr http://ift.tt/2mUCMhr

Goldman Sachs CEO defends prevalence of company execs in government

Goldman Sachs sees so many of its executives transition into roles within the federal government that the company is often derisively referred to as “Government Sachs.” But Goldman Sachs CEO Lloyd Blankfein doesn’t see the “revolving door” between the government and Goldman Sachs as a problem. In fact, he fully supports it and expects it to continue.

from Byrd Mix http://ift.tt/2mO88ET via byrd memphis developer


from Tumblr http://ift.tt/2nKowFK

California home sales start year off strong…but will that last?

California had a lot working in its favor heading into 2017, but the Federal Reserve’s recent decision to raise interest rates could start to change that. Then merge rising rates with barely any housing inventory, and the state is heading into a tough spring home-buying season.

from Byrd Mix http://ift.tt/2nshHwy via byrd memphis developer


from Tumblr http://ift.tt/2mUKbgT

Trump’s budget to defund NeighborWorks America and other housing programs

President Donald Trump released his budget, which includes several cuts such as HUD’s 13.2% decrease. But other agencies, such as Neighborworks America, the budget proposal defunds entirely. The agency responded by pointing out its achievements for the 2016 fiscal year.

from Byrd Mix http://ift.tt/2mzYlRO via byrd memphis developer


from Tumblr http://ift.tt/2nKx9A0

ATTOM: Foreclosure activity hits 11-year low

Foreclosure activity is down across the nation, sitting at an 11-year low and in its 17th month of consecutive annual declines. However, some states are defying the national trend and are even trending upward in foreclosure starts. Here’s why.

from Byrd Mix http://ift.tt/2nwo8uW via byrd memphis developer


from Tumblr http://ift.tt/2mUM9O8

Wells Fargo's fake account scandal didn't dent 2016 mortgage business

Wells Fargo spent much of the latter part of 2016 cleaning up the mess from its massive fake accounts scandal and trying to repair the damage to its reputation, but the bank’s mortgage business certainly didn’t suffer last year. Here’s a full breakdown of Wells Fargo’s 2016 mortgage business, including how many 3% down mortgages the bank originated.

from Byrd Mix http://ift.tt/2nevDcR via byrd memphis developer


from Tumblr http://ift.tt/2nKkugk

Essent Guaranty names vice president and national account manager

Essent Guaranty named Emil Emanuel as vice president and national account manager. He will oversee business development and deliver private mortgage insurance solutions for the national MI provider.

from Byrd Mix http://ift.tt/2m75Pjj via byrd memphis developer


from Tumblr http://ift.tt/2mUDbAx

Why rising Federal Funds rates might be good for the housing market

[Expert commentary] Much of the commentary surrounding the Federal Reserve’s decision Wednesday to raise the Fed Funds rate by 25 basis points has been about how this is likely to have a negative effect on home affordability. What if this isn’t true? In fact, here are three positive side effects to rising interest rates.

from Byrd Mix http://ift.tt/2nwH1OH via byrd memphis developer


from Tumblr http://ift.tt/2nKD5ZT

Here's why Goldman Sachs is snatching up delinquent mortgages

Goldman Sachs’ purchase of a portfolio of non-performing loans from Fannie Mae earlier this week marked only the latest in a long string of purchases of severely delinquent home loans from the government-sponsored enterprise. The major purchase spree, however, is part of a larger plan for the mega bank. In particular, it deals with its $5 billion settlement announced last year.

from Byrd Mix http://ift.tt/2mTEP5t via byrd memphis developer


from Tumblr http://ift.tt/2mUKyYx

Trump officially proposes to slash HUD budget by $6.2 billion

President Donald Trump officially announced his budget proposal, which included the much-feared $6.2 billion cut to HUD funding. The Office of Management and Budget released a report that shows exactly what programs will be slashed, and which will not, in the new budget proposal.

from Byrd Mix http://ift.tt/2mTiHrH via byrd memphis developer


from Tumblr http://ift.tt/2nKArDz

Housing starts increase driven by single family residential

Housing starts increased in January, lead by a gain in the single-family market. Even building permits, which decreased, were offset by an increase in permits in the single-family housing sector. Experts say all signs point toward a continued increase throughout 2017.

from Byrd Mix http://ift.tt/2mxpwNm via byrd memphis developer


from Tumblr http://ift.tt/2mUIW16

Freddie Mac: Mortgage rates increase again – don’t expect them to stop

Mortgage rates increased once again this week in anticipation of the Federal Reserve’s interest rate hike. But this increase won’t be letting up anytime soon as, among other factors, the Fed still plans on several more rate hikes this year.

from Byrd Mix http://ift.tt/2m530PI via byrd memphis developer


from Tumblr http://ift.tt/2nKF800

Black Knight targets smaller, mid-tier lenders with new Empower LOS platform

Black Knight Financial Services unveiled a new product on Thursday that will enable smaller, mid-tier lenders to use the company’s Empower loan origination system thanks to lower cost and shorter implementation times.

from Byrd Mix http://ift.tt/2mSyhE8 via byrd memphis developer


from Tumblr http://ift.tt/2mUKoAI

Former CFPB enforcement attorney: "Publicity potential" guided many regulatory actions

Democrats are racing against the clock to defend the embattled Consumer Financial Protection Bureau, which has a growing pile of government and judicial scenarios at play trying to overhaul it or abolish it altogether. But maybe the only way for CFPB Director to save the bureau is to resign, at least that’s what one former CFPB enforcement attorney argues.

from Byrd Mix http://ift.tt/2nGdzor via byrd memphis developer


from Tumblr http://ift.tt/2m419ut

Wednesday, March 15, 2017

Ellie Mae: Interest rates on closed loans rise to 16-month high

The average interest rate for 30-year, fixed-rate mortgages rose to a 16-month high in February, according to the new data from Ellie Mae. The increase in interest rates depressed the refinance market, as the report showed that the share of purchase mortgages closed rose to 57% in February. That’s the largest that figure has been since July 2016.

from Byrd Mix http://ift.tt/2muvoqv via byrd memphis developer


from Tumblr http://ift.tt/2mKEksM

Attempt two: loanDepot reconsiders filing for IPO?

A little more than a year after it withdrew its Initial Public Offering, loanDepot is reported to once again be considering the possibility of a stock offering. When loanDepot announced that it canceled its IPO, loanDepot CEO Anthony Hsieh said, “While an IPO continues to be an option, perhaps one day in the future, it’s not a necessity.” Could now finally be the right time for the company?

from Byrd Mix http://ift.tt/2mQ4YlL via byrd memphis developer


from Tumblr http://ift.tt/2m1Ti0q

Housing finance prepares for wave of new interest rate hikes

The Federal Reserve elected to raise rates for the first time in 2017, and the industry is already gearing up for more rate hikes to come. While some economists project as many as four rate hikes for this year, others are more conservative in their projections.

from Byrd Mix http://ift.tt/2ntEbK2 via byrd memphis developer


from Tumblr http://ift.tt/2mKFLHE

What are the benefits of an FHA loan? Here's everything you need to know...

For the inexperienced, the requirements can seem daunting, but here’s a rundown of what you need to know before you apply. For the inexperienced, the requirements may seem daunting, but here’s a rundown of what you need to know before you apply.  

from Byrd Mix http://ift.tt/2mKEekL via byrd memphis developer


from Tumblr http://ift.tt/2m1BZfQ

How much money should you have in savings before becoming a mortgage broker?

While the industry is slow to adopt sexier elements, such as tech advancements and digital processing, there is one way to lure great talent — tell them how much money they can make if they work hard. Yet, it takes time before those first paychecks start to roll in. But how long? And how much money should you have in savings before becoming a mortgage broker?

from Byrd Mix http://ift.tt/2mPkpdY via byrd memphis developer


from Tumblr http://ift.tt/2mKqxm8

Deutsche Bank, RBS, Wells Fargo settle for $165 million over NovaStar mortgages

Deutsche Bank, Royal Bank of Scotland, and Wells Fargo reached a $165 million settlement in class action lawsuit brought by pension funds over faulty crisis-era mortgages originated NovaStar Mortgage, the plaintiffs’ attorneys announced on Wednesday. If approved by judge, the settlement would bring a nine-year legal battle to a close.

from Byrd Mix http://ift.tt/2mtmfxv via byrd memphis developer


from Tumblr http://ift.tt/2m1UqB5

It’s official – Fed raises rates for second time in 3 months

The Federal Reserve just announced its first interest rate hike of 2017 and the second increase in three months. This rate hike did not take markets by surprise, and experts say the increase is already priced into the markets. But what will this mean for 2017’s home-buying season?

from Byrd Mix http://ift.tt/2mOWCe4 via byrd memphis developer


from Tumblr http://ift.tt/2mKFLr8

Fannie Mae economic growth forecast remains conservative

Fannie Mae released this month’s Economic and Housing Outlook, which shows little change in economic growth for the year overall. The mortgage giant explains the administration’s fiscal policy pose both negative and positive risks for the economy.

from Byrd Mix http://ift.tt/2n1cXg8 via byrd memphis developer


from Tumblr http://ift.tt/2m1OJ6l

CFPB officially hits Nationstar with $1.75 million fine for HMDA violations

Last week, Nationstar Mortgage revealed that it faced a potential fine from the Consumer Financial Protection Bureau over the company’s alleged failure to comply with the reporting requirements of the Home Mortgage Disclosure Act. And Wednesday, those HMDA chickens came home to roost.

from Byrd Mix http://ift.tt/2mJzGuV via byrd memphis developer


from Tumblr http://ift.tt/2mKnHNL

Realtors: Consumer confidence surge is good news for housing

Consumer confidence continues to reach new heights, even hitting an all-new high in the National Association of Realtor’s latest quarterly survey. And this soaring confidence brings good news to housing – NAR’s chief economist explains why.

from Byrd Mix http://ift.tt/2mNUH9t via byrd memphis developer


from Tumblr http://ift.tt/2m1OJTT

Trump regulatory reform sends builder confidence soaring to 12-year high

Home builders are more confident than they have been in the past 12 years after Trump’s regulatory reform announcements. But experts don’t expect this confidence to continue at its current pace, saying builders still have many challenges ahead of them for 2017.

from Byrd Mix http://ift.tt/2mswaDG via byrd memphis developer


from Tumblr http://ift.tt/2mKOiKM

HouseCanary premieres rental market return index for SFR investors

The single-family rental home market is booming and is composed of nearly 20 million homes. Falling right alongside this, HouseCanary, a data and analytics provider, launched a new rental market index to gauge returns for investors.

from Byrd Mix http://ift.tt/2n0p259 via byrd memphis developer


from Tumblr http://ift.tt/2m1M9x2

MBA: Mortgage applications rise three-weeks straight

After seesawing at the start of this year, mortgage applications managed to increase three-weeks straight as the market gears up for the spring home-buying season. On the other side, mortgage interest rates for most products jumped close to two-year highs. Here’s what interest rates look like heading into peak home-buying season.

from Byrd Mix http://ift.tt/2nDXPSX via byrd memphis developer


from Tumblr http://ift.tt/2nmWELu

Tuesday, March 14, 2017

Fannie Mae to sell $1.65 billion in re-performing loans

Fannie Mae’s sale $1.68 billion in non-performing loans to private equity funds, one of which is a subsidiary of Goldman Sachs, wasn’t the only loan sale the government-sponsored enterprise announced on Tuesday.The GSE also announced its second sale of re-performing loans, which will be much larger that its first such sale.

from Byrd Mix http://ift.tt/2mptJlg via byrd memphis developer


from Tumblr http://ift.tt/2mXFHGH

Denia Graham named COO of National Real Estate Solutions

As COO, Graham will oversee operations, vendor management, recruiting and training, FHA/HUD conveyance and client management for National Real Estate Solutions.

from Byrd Mix http://ift.tt/2mGOtGX via byrd memphis developer


from Tumblr http://ift.tt/2mqd4xM

Santa Ana offering $40,000 in down payment assistance for first-time buyers

A California city that ranks among the most expensive housing markets in the nation is trying something unique to help its residents afford their first home. The city of Santa Ana is now offering interest-free down payment assistance loans to first-time homebuyers. Here are the details.

from Byrd Mix http://ift.tt/2mpv0IV via byrd memphis developer


from Tumblr http://ift.tt/2mXBFhy

First American: Real estate industry prepping for strong Spring homebuying season

The real estate industry is gearing up for one of the hottest spring home buying seasons in recent memory. Even rising interest rates, which are causing a strain on refinance activity, are not enough to discourage first-time homebuyers.

from Byrd Mix http://ift.tt/2mpfehm via byrd memphis developer


from Tumblr http://ift.tt/2mqapV7

Fannie Mae selling another $1.68 billion in NPLs to Goldman Sachs subsidiary, private equity

In what is now a common occurrence, Fannie Mae announced Tuesday that it sold a large portfolio of non-performing loans to private equity funds, one of which is a subsidiary of Goldman Sachs. The sale, which was originally announced last month, consisted of 9,400 non-performing loans that carry an unpaid principal balance of $1.68 billion.

from Byrd Mix http://ift.tt/2mKhdjM via byrd memphis developer


from Tumblr http://ift.tt/2mXEWgC

Hey homebuyers! Need some extra luck this spring homebuying season?

St Patrick’s Day ushers in the spring home-buying season as potential homeowners prepare for what is forecasted to be a strong, but extremely competitive, buying season. Future buyers could use all the extra luck they can get. Bruce Elliott, president of the Orlando Regional Realtor Association, shared tips on how buyers can make their own luck this busy spring-buying season.

from Byrd Mix http://ift.tt/2mp3Odo via byrd memphis developer


from Tumblr http://ift.tt/2mGwS1C

Walter Investment posts $529 million loss in 2016; CEO calls results 'unacceptable'

Walter Investment Management Corp. announced Tuesday morning that it posted a loss in each quarter of 2016, finishing the year with a net loss of $22.2 million in the fourth quarter. That result pushed the company’s total net loss for the year to $529.2 million. Walter Investment CEO Anthony Renzi, who took over in September 2016, said that the company’s 2016 results are unacceptable.

from Byrd Mix http://ift.tt/2moNpWx via byrd memphis developer


from Tumblr http://ift.tt/2lXNftD

Are you overestimating your home value?

Many homeowners are overestimating the value of their home, with their estimates coming in above appraised values. And that gap grew even wider in February. However, this is much less true for homeowners on the west coast, where home prices are rising faster than homeowners can keep up with.

from Byrd Mix http://ift.tt/2lXFrrM via byrd memphis developer


from Tumblr http://ift.tt/2mGIEcn

Christopher Whalen leaving Kroll Bond Rating Agency

Kroll Bond Rating Agency announced Tuesday that Christopher Whalen, who served as senior managing director and head of research, is stepping down. Whalen, an investment banker, author, and frequent HousingWire contributor, joined KBRA in 2014. Here’s a look at what Whalen plans to do next.

from Byrd Mix http://ift.tt/2lXlu4w via byrd memphis developer


from Tumblr http://ift.tt/2lXOAAP

Movement Mortgage hires chief commercial officer

“What drew me to Movement was the amazing culture that has been created here,” Donnelly said. “I look around and see an entrepreneurial and innovative spirit in teams of people working for something bigger than just themselves.”

from Byrd Mix http://ift.tt/2mFWAne via byrd memphis developer


from Tumblr http://ift.tt/2mGGrOm

Mortgage delinquency rates signal improving economy

CoreLogic released a report reviewing the years before and during the foreclosure crisis, and compared them to the current state of the market. By looking back at the years, the property analytics provider shows just how much the economy improved, and in what direction it is headed.

from Byrd Mix http://ift.tt/2npbIFs via byrd memphis developer


from Tumblr http://ift.tt/2lXTtcV

Trump administration still claims Obama manipulated jobs data

President Donald Trump continues to make claims about the unemployment rate, insisting that previous numbers were manipulated. However, after Friday’s strong employment report Trump insisted the numbers are real now. But the president isn’t the only one pointing fingers – his budget director also joined in saying he long-thought the Obama administration was changing the numbers.

from Byrd Mix http://ift.tt/2mogSAB via byrd memphis developer


from Tumblr http://ift.tt/2mGDa1s

HSBC fulfills consumer relief obligation under National Mortgage Settlement

After agreeing to a $601 million settlement nearly a year ago, HSBC is now officially finished with its consumer relief requirement, providing more than $371 million in consumer relief. Joseph Smith, monitor of the National Mortgage Settlement, said that this will be his final report on HSBC’s consumer relief obligation.

from Byrd Mix http://ift.tt/2n3np7f via byrd memphis developer


from Tumblr http://ift.tt/2lXUstK

ATTOM Data Solutions partners with Clear Capital to add MLS info

ATTOM Data Solutions teamed up with Clear Capital to add MLS info to its dataset, expanding its dataset to include more comprehensive and compliant coverage. ATTOM created a heat map to show its coverage extent of its property-coverage.

from Byrd Mix http://ift.tt/2lWBP9H via byrd memphis developer


from Tumblr http://ift.tt/2mGx5lJ

Monday, March 13, 2017

LoanLogics adds Elliot Salzman as chief credit officer

LoanLogics, a provider of loan quality management and performance analytics, announced that it added Elliot Salzman as the company’s new chief credit officer. In this role, Salzman will be responsible for “enhancing and overseeing the credit policy functions of the LoanLogics LoanHD platform to deliver a more comprehensive approach to ensuring loan quality,” the company said.

from Byrd Mix http://ift.tt/2n2Ew9p via byrd memphis developer


from Tumblr http://ift.tt/2n3t51h

Credit changes set to improve score for roughly 12 million consumers

The three credit rating agencies will soon exclude tax liens and civil judgments from credit reports for many people. This summer Equifax, Experian and TransUnion plan to remove the data, helping improve the credit score for millions of consumers.

from Byrd Mix http://ift.tt/2mFDNdc via byrd memphis developer


from Tumblr http://ift.tt/2mm2zMb

PHH urges Court of Appeals to kill CFPB

PHH wants the full Court of Appeals for the District of Columbia Circuit to do more than simply declare the leadership structure of the Consumer Financial Protection Bureau unconstitutional; it wants the Court of Appeals to kill the CFPB altogether.

from Byrd Mix http://ift.tt/2mTV6b3 via byrd memphis developer


from Tumblr http://ift.tt/2n3t2T9

SXSW: Leveraging big data to reach the credit invisible for purchase mortgages

Last year, investment in real estate tech startups totaled more than $6 billion, which isn’t surprising given the implications of big data on the housing economy. Everything from evaluating risk management to analyzing the next trend in housing depends on gathering “clean” information on mortgage borrowers and home sellers. But one group remains largely absent from this data collection, and this is the group that most intrigued a panel of big data experts assembled by Amherst InsightLabs at SXSW on Sunday.

from Byrd Mix http://ift.tt/2n2SPuq via byrd memphis developer


from Tumblr http://ift.tt/2mlTG53

Vista Equity Partners acquiring D+H in $3.6 billion deal

In a move with worldwide implications in the finance services industry, Vista Equity Partners announced Monday that it is acquiring D+H, a Toronto-based provider of technology solutions to financial institutions, in a $3.6 billion deal. D+H is a winner of HousingWire Magazine’s 2017 HW Tech100 as one of the top tech companies in housing finance.

from Byrd Mix http://ift.tt/2mkuUTL via byrd memphis developer


from Tumblr http://ift.tt/2mlLmT6

Here are the top 10 best cities to sell a home

Home prices are increasing as inventory hits new lows. And yet, homebuyers continue to flood the market. Under these conditions, sellers are at an advantage. SmartAsset produced a list that shows the top 10 best cities to sell a home.

from Byrd Mix http://ift.tt/2mESgpQ via byrd memphis developer


from Tumblr http://ift.tt/2n3tm48

FDIC unveils Dodd-Frank alternative for "better" bank regulation

Speaking at the Institute of International Bankers Annual Washington Conference, FDIC Vice Chairman Thomas Hoenig said that while Dodd-Frank is well intended, the regulations are too burdensome for all banks, “especially smaller banks.” So here’s what the FDIC wants to do, instead.

from Byrd Mix http://ift.tt/2mkt1X2 via byrd memphis developer


from Tumblr http://ift.tt/2mm1i7w

Freddie Mac prices largest whole loan securities deal to date

Freddie Mac announced its first whole loan securities deal of the year and its fifth since it began offering this risk sharing method in 2015. But this WLS, expected to close later this month, will be the company’s largest offering since the program’s inception.

from Byrd Mix http://ift.tt/2mT7QP8 via byrd memphis developer


from Tumblr http://ift.tt/2n3qnZq

Atlanta Fed selects former HUD assistant secretary Raphael Bostic as new president

The Federal Reserve Bank of Atlanta announced Monday it selected Raphael Bostic to serve as its new president and chief executive officer. Bostic brings significant housing experience to this position. From 2009 to 2012, Bostic served as assistant secretary for policy development and research at the Department of Housing and Urban Development.

from Byrd Mix http://ift.tt/2mCwmSg via byrd memphis developer


from Tumblr http://ift.tt/2mlQJl0

These 10 housing finance companies made Fortune's best places to work list

Fortune Magazine released its list of the best places to work, and 10 companies from the housing industry made that list. In fact, one company even took the No. 10 spot. Here’s what these companies have to say about their ranking, and how it compares to last year.

from Byrd Mix http://ift.tt/2n1hiAk via byrd memphis developer


from Tumblr http://ift.tt/2n3zdXg

Monday Morning Cup of Coffee: Housing takes center stage at SXSW

“How do we make real estate sexy like South By Southwest is,” Sean Dobson, chairman and CEO of Amherst Holdings, joked at his company’s session at the renowned conference in Austin. The data and analytics company for the real estate industry is on an extremely short list of housing-affiliated companies attending the two-week conference, and who else but HousingWire would be there to cover it all? No one, that’s who. Click to read the exclusive coverage!

from Byrd Mix http://ift.tt/2neof1H via byrd memphis developer


from Tumblr http://ift.tt/2mhHv9m

Saturday, March 11, 2017

Judge rules DOJ can pursue FHA lending charges against Quicken Loans

A U.S. District judge ruled that the Department of Justice can pursue its charges against Quicken Loans over FHA lending violations. Don’t hold your breath on hearing the case play through though. The trial won’t begin until April 2019.



from Byrd Mix http://ift.tt/2np3Pia via byrd memphis developer
from Tumblr http://ift.tt/2mSRXbT

Trump aide, top Republican staffers, BlackRock exec among Mnuchin's top staff at Treasury

A former top aide to the campaign of President Donald Trump, two top Republican staffers, and a former executive at BlackRock will serve as the senior staff to Steven Mnuchin, the Department of the Treasury announced Friday. The four staffers will serve as key advisors on areas ranging from the federal budget, to tax reform, legislative issues, domestic finance, housing finance policy, and regulatory reform.

from Byrd Mix http://ift.tt/2mtmElq via byrd memphis developer


from Tumblr http://ift.tt/2muuISJ

HUD sanctions Illinois' Alpine Bank & Trust over fair lending violations

The Department of Housing and Urban Development announced Friday that Alpine Bank & Trust is being sanctioned over fair lending violations. The charges stemmed from a complaint filed by the HOPE Fair Housing Center of Wheaton, Illinois, which filed a complaint with HUD claiming that the lender’s business service areas excluded majority African-American and Hispanic neighborhoods.



from Byrd Mix http://ift.tt/2mKmNmo via byrd memphis developer
from Tumblr http://ift.tt/2mSI6mi

President Trump promises to lift regulations for community banks

President Donald Trump held a listening session Thursday to hear from community banks about their struggles with regulations. He assured the bankers that a rollback in regulations is coming soon, and that community banks could soon hold a seat once again on the Federal Reserve Board.

from Byrd Mix http://ift.tt/2mtt4ko via byrd memphis developer


from Tumblr http://ift.tt/2muQwh1

Here’s how HUD’s possible $6B cut could affect housing

The U.S. Department of Housing and Urban Development recently announced a possible $6 billion budget cut. The budget cut isn’t final, however a new report from Trulia shows what effects the cuts could have on housing.

from Byrd Mix http://ift.tt/2msXnrw via byrd memphis developer


from Tumblr http://ift.tt/2mSHzAP

Friday, March 10, 2017

New bill threatens CFPB's freedom as independent agency

The Consumer Financial Protection Bureau’s freedom as an independent agency to enact regulation could soon change due to a new bill working its way through Congress. This bill, “OIRA Insight, Reform, and Accountability Act,” has already made its way through the House and has moved onto the Senate Committee on Homeland Security and Governmental Affairs. Will the industry finally get the regulatory relief it’s been asking for if the bill passes?

from Byrd Mix http://ift.tt/2muxcSC via byrd memphis developer


from Tumblr http://ift.tt/2n8lZsy

LendingHome rolls out online mortgage for first-time homebuyers

LendingHome, a marketplace lender and HousingWire 2017 Tech100 winner, announced its new one-stop online mortgage designed with the needs of first-time homebuyers in mind. Barely three years old, here’s the latest installment in the company’s growth.

from Byrd Mix http://ift.tt/2mQwLmV via byrd memphis developer


from Tumblr http://ift.tt/2neqwq6

Top trade organizations support barring use of Fannie, Freddie g-fees for federal spending

A consortium of the housing industry’s top trade organizations declared their collective support for an ongoing effort in Congress to permanently bar the use of funds raised from Fannie Mae and Freddie Mac’s guarantee fees to cover federal spending in areas not related to mortgages. Here’s the skinny.

from Byrd Mix http://ift.tt/2n7PpqW via byrd memphis developer


from Tumblr http://ift.tt/2n8kryE

Positive jobs report confirms March rate hike

Experts explain that the stronger-than-expected jobs report solidifies the chance of a rate hike in March. In fact, one expert even predicted there will be a total of four rate hikes in 2017. However, experts point out the report was not all good news, and are concerned with the tepid wage growth.

from Byrd Mix http://ift.tt/2msVVW4 via byrd memphis developer


from Tumblr http://ift.tt/2neClNb

Home Depot agrees to $25 million settlement with banks over data breach

Home Depot agreed to pay $25 million to a number of banks in a settlement over the home improvement retailer’s 2014 data breach that impacted more than 50 million consumers. The settlement is just the latest in a string of settlements over the massive data breach, which Home Depot confirmed back in September 2014.

from Byrd Mix http://ift.tt/2mtW0dN via byrd memphis developer


from Tumblr http://ift.tt/2n8lZc2

Strong February jobs report led by construction boom

February’s employment report came in far above expectations, led by a strong gain in construction jobs. This report, which even outpaced January’s solid showing, was one of the last economic factors the Fed needed to see before deciding on a March rate hike.

from Byrd Mix http://ift.tt/2mPAaSH via byrd memphis developer


from Tumblr http://ift.tt/2nezRys

Think compliance is hard now? Wait till the new HMDA regs kick in

“I’m amazed that we can’t do HMDA right — it’s been around since the 70s,” Konyk said. “If you can’t get HMDA right now when there are only, for example, three possible demographic answers, God help you next year when there are over 20.”

from Byrd Mix http://ift.tt/2ms5rKI via byrd memphis developer


from Tumblr http://ift.tt/2n6rGXU

First Financial Network selling $80 million mortgage portfolio for NCUA

The National Credit Union Administration is selling an $80 million portfolio of performing and nonperforming loans, First Financial Network announced on Thursday. First Financial Network is handling the sale on the NCUA’s behalf.

from Byrd Mix http://ift.tt/2nbsVlF via byrd memphis developer


from Tumblr http://ift.tt/2ncNzl8

Nationstar facing CFPB fine over HMDA violations

Nationstar Mortgage is facing a fine from the Consumer Financial Protection Bureau over the nonbank’s alleged failure to comply with the reporting requirements of the Home Mortgage Disclosure Act, the company revealed Thursday.

from Byrd Mix http://ift.tt/2lIIHYc via byrd memphis developer


from Tumblr http://ift.tt/2n6oZFL

Trump administration reinforces Dodd-Frank reform remains priority

President Donald Trump and Press Secretary Sean Spicer both brought up the administration’s commitment to rolling back regulation and reforming Dodd-Frank on Thursday. Spicer reinforced this message during the White House daily briefing, giving the administration’s latest thoughts on reform.

from Byrd Mix http://ift.tt/2mplvv3 via byrd memphis developer


from Tumblr http://ift.tt/2ncRoGY

Court denies motion for small Texas bank to intervene in PHH, CFPB case

State National Bank of Big Spring, Texas, hit a major roadblock this week in its fight against the Consumer Financial Protection Bureau after a judge threw out its motion to intervene in the landmark case between PHH and the CFPB. The decision puts State National Bank’s case back in limbo.

from Byrd Mix http://ift.tt/2lJ4ZsD via byrd memphis developer


from Tumblr http://ift.tt/2n6lJuj

Number of underwater homes plummets in Q4

More than 1 million borrowers regained equity in 2016 as home prices continue to rise across the nation, and the number of homes currently underwater plummeted 25% annually. But this gain in equity was more pronounced in states with hotter markets and rising home prices.

from Byrd Mix http://ift.tt/2mGgct4 via byrd memphis developer


from Tumblr http://ift.tt/2ncKB0d

DEVAL assists at-risk borrowers before foreclosure, homelessness become reality

Mortgage servicer DEVAL helps at-risk borrowers find affordable housing options by collaborating with a variety of government programs and resources that support loss mitigation efforts and enable borrowers to find alternative housing solutions if, and when, a loan modification or solution is not viable.

from Byrd Mix http://ift.tt/2mLPRdz via byrd memphis developer


from Tumblr http://ift.tt/2n6rqbx

Thursday, March 9, 2017

LendIt Wrap: We're missing the trillion-dollar opportunity in the commercial real estate market

The takeaway from LendIt is that commercial and multi-family real-estate technology is extremely nascent and poised for disruption although not without challenges, and that competition in the space is only likely to grow as computing power and machine learning models improve to meet the challenges. 

from Byrd Mix http://ift.tt/2mo8fGY via byrd memphis developer


from Tumblr http://ift.tt/2lJ92VR

Ben Carson calms fears of $6B HUD budget cut

President Donald Trump is considering cutting $6 billion in HUD funding for his budget in order to boost military spending. However, HUD Secretary Ben Carson sent an email out to HUD staff in an attempt to calm any rising concerns.

from Byrd Mix http://ift.tt/2nblUBf via byrd memphis developer


from Tumblr http://ift.tt/2n4HhaK

Want to start a mortgage company? loanDepot CEO updates thoughts on barriers to entry

SoFi, loanDepot and Quicken Loans sit in a small cohort of lenders known for pushing the envelopment in the mortgage industry and spurring innovation. On an expert tech panel at the Goldman Sachs housing and consumer finance conference, Anthony Hsieh, chairman and CEO, further expanded on a comment he made on the same panel a year ago. The problems facing people who want to get into the industry.

from Byrd Mix http://ift.tt/2mnF1YX via byrd memphis developer


from Tumblr http://ift.tt/2nbadu6

HSBC continues cutting U.S. mortgage business with $4.9B loan sale to Credit Suisse

HSBC’s reduction of its U.S. mortgage business, which began way back in 2008, took another big step forward recently, as the company announced recently that its subsidiaries, HSBC Finance Corporation and HSBC Bank, sold $4.9 billion in mortgages to a subsidiary of Credit Suisse.

from Byrd Mix http://ift.tt/2mFIi7X via byrd memphis developer


from Tumblr http://ift.tt/2n4ID4X

Ellie Mae hosts Build-a-Bear charity event for children's charities

Brightly colored bears, monkeys, puppies, alligators and giraffes line tables at Ellie Mae’s Experience conference, ready to be delivered to five separate children’s charities in Las Vegas. The mobile Build-a-Bear workshop is part of the company’s volunteer program, EllieCares, and will benefit Ronald McDonald House of Greater Las Vegas, Community Outreach of Nevada, CIS (Communities in Schools) Nevada, St. Jude’s Ranch for Children, and The Foundation for Positively Kids.  

from Byrd Mix http://ift.tt/2m6dJW1 via byrd memphis developer


from Tumblr http://ift.tt/2nbbbqw

Housing fears confirmed: Trump budget considers $6 billion cut to HUD funding

The housing market’s worst fears may soon be confirmed as the Trump administration reportedly targets HUD for budget cuts. As might be expected, the industry rallied in its opposition to the cuts, however one HUD spokesman explains these numbers are only the first proposals in a series of negotiations. Click the headline to read more.

from Byrd Mix http://ift.tt/2mnfsXL via byrd memphis developer


from Tumblr http://ift.tt/2n4MuiM

Freddie Mac: Mortgage rates follow Treasury yield for first time in 2017

Mortgage rates jumped up this week as they, for the first time in 2017, followed the increase in the Treasury yield. Freddie Mac’s chief economist talks about the increase, and what the market can expect from interest rates next week.

from Byrd Mix http://ift.tt/2niZpcC via byrd memphis developer


from Tumblr http://ift.tt/2nbxhZN

Home flipping hits 10-year high in 2016

More investors are entering the home-flipping market than at any point since 2007, pushing the number of homes flipped to a 10-year high. And why wouldn’t investors jump on board? Profits are now higher than they’ve ever been.

from Byrd Mix http://ift.tt/2ngJfRl via byrd memphis developer


from Tumblr http://ift.tt/2nhxIRD

Ellie Mae: Homebuyers prioritize technology, but still want personal interaction

Ellie Mae’s new study shows that homebuyers of all ages are calling for an increase in technology for their home buying experience. While Millennials are the generation with the highest calls for online mortgages, they aren’t the only one. And even Millennials still want the personal touch of a loan officer.

from Byrd Mix http://ift.tt/2n0nx83 via byrd memphis developer


from Tumblr http://ift.tt/2monAJ2

Watchdog: HUD lacks sufficient oversight for borrower-financed down payment programs

The Department of Housing and Urban Development’s lack of oversight into borrower-financed down payment assistance programs for Federal Housing Administration-insured loans puts borrowers and the FHA’s flagship insurance fund at “unnecessary risk,” HUD’s watchdog said in a new report.

from Byrd Mix http://ift.tt/2m3NjEc via byrd memphis developer


from Tumblr http://ift.tt/2nhilc6

Where does housing finance reform stand right now?

Attendees at Goldman Sachs’ housing and consumer finance conference took a break from talks of regulatory change, alternative asset classes and raising capital funds for a low-key lunch served in the same room. As attendees unwound from the back-to-back panel sessions, they sat and listened to five experts try to unwrap the mess that is housing finance reform.

from Byrd Mix http://ift.tt/2m5CpxE via byrd memphis developer


from Tumblr http://ift.tt/2mou9M5

Wednesday, March 8, 2017

At the Ellie Mae Experience conference, the company's growth is palpable

The setting — the bright, exuberant Wynn in Las Vegas — provides a fitting backdrop for the upbeat conference. But make no mistake: Ellie Mae’s growth is a result of some serious challenges facing the mortgage industry, and many at the conference are there to find answers.

from Byrd Mix http://ift.tt/2lEyJqA via byrd memphis developer


from Tumblr http://ift.tt/2mHedWa

Fraudster gets 15 years for bilking 1,000+ distressed homeowners in loan modification scheme

A New York man will spend the next 15 years in prison after pleading guilty to charges relating to his part in a scheme that defrauded more than 1,000 distressed homeowners by falsely promising loan modifications.

from Byrd Mix http://ift.tt/2mGyxGY via byrd memphis developer


from Tumblr http://ift.tt/2mkkwfx

Goldman Sachs conference answers 3 top housing questions

Despite housing not being a big topic of conversation during the election cycle, it’s made it way to the top of the pile in the Trump administration. So what does this mean for the industry? Panelists at Goldman Sachs’ annual housing and consumer finance housing conference in New York City answer three top questions.

from Byrd Mix http://ift.tt/2mYPHjD via byrd memphis developer


from Tumblr http://ift.tt/2mH71sN

ADP: Private-sector jobs soar with gain of nearly 300K

As the market gears up for next week’s FOMC meeting, ADP released its private employment report, predicting an increase of nearly 300,000 jobs in February. This increase increases the chances of an already-anticipated rate hike in March. Also, an increase in construction labor could bring relief to an inventory-starved market.

from Byrd Mix http://ift.tt/2mBwjYZ via byrd memphis developer


from Tumblr http://ift.tt/2mkaWcy

MBA: Average loan size for purchase applications hits all-time high

The average loan size for purchase mortgage applications reached an all-time high last week, according to the latest data from the Mortgage Bankers Association. The report shows that the average loan size for purchase applications last week was $313,300 - that’s the highest that figure has been during any week since the MBA began conducting its weekly application survey in 1990.

from Byrd Mix http://ift.tt/2m1SnsK via byrd memphis developer


from Tumblr http://ift.tt/2mHpzt9

Here's how to really increase innovation in mortgage banking

Alan Grant is a professor at the Wharton school of business who researches creativity and innovation. In a wide-ranging and entertaining session at the Ellie Mae conference, Grant detailed what really fosters innovative thinking within companies.

from Byrd Mix http://ift.tt/2mjUJ8J via byrd memphis developer


from Tumblr http://ift.tt/2mXil4T

Startups speak out: 5 top lending execs on the end of the mortgage "dark age"

A new breed of startups are looking to change that by completely digitizing the mortgage experience and bringing the number of parties a customer interacts with down to the manageable number of one. Here’s what 5 top executives at those startups think.

from Byrd Mix http://ift.tt/2mX4zPG via byrd memphis developer


from Tumblr http://ift.tt/2m1H3gj

Biggest industry pain points with TRID still tied to title and settlement services

In a conference room packed with lenders at the Ellie Mae Experience conference, it was clear that the proposed changes to the TILA-RESPA Integrated Disclosure rule are welcome, but don’t go nearly far enough. The biggest complaint? The Consumer Financial Protection Bureau proposed changes to the rule don’t address two of the biggest challenges, both of which concern lenders coordinating with title and settlement services.

from Byrd Mix http://ift.tt/2ncslDa via byrd memphis developer


from Tumblr http://ift.tt/2mXkk9f

Mark Calabria, Pence's chief economist: CFPB will survive Trump administration

Despite the concerted effort by members of the Republican Party to dismantle the Consumer Financial Protection Bureau, a top Trump administration official told attendees at a conference in Washington that the embattled agency will likely survive the Trump administration.

from Byrd Mix http://ift.tt/2mULqhf via byrd memphis developer


from Tumblr http://ift.tt/2m1Dirb

Housing inventory in Northwest plummets to lowest point ever

This Spring is already shaping up to be one of the strongest home buying seasons in recent memory and it hasn’t even begun. In fact, sellers are still in hibernation even as buyers fight over the current dwindling inventory. Northwest MLS expects an uptick in listings later this Spring, but will it be enough to feed the frenzy? Probably not.

from Byrd Mix http://ift.tt/2lZL05a via byrd memphis developer


from Tumblr http://ift.tt/2mXfAQS

Two more execs out at Wells Fargo as fake account fallout continues

A few weeks ago, Wells Fargo announced that it fired four senior managers in the fallout from the fake account scandal that led to a $185 million fine from the Consumer Financial Protection Bureau, the Office of the Comptroller of the Currency, and the city and county of Los Angeles. And according to a new report from the Los Angeles Times, those four executives aren’t the only ones who recently left the megabank.

from Byrd Mix http://ift.tt/2nbN3Di via byrd memphis developer


from Tumblr http://ift.tt/2m1B0Iw

Tuesday, March 7, 2017

Redfin chief economist on how Ben Carson can solve affordability crisis

Redfin’s chief economist pointed out that income inequality and affordable housing are at the worst levels ever seen in the U.S. Nela Richardson outlined four policies HUD Secretary Ben Carson can enact right now in order to heal the affordability crisis in America.

from Byrd Mix http://ift.tt/2myt3h4 via byrd memphis developer


from Tumblr http://ift.tt/2mV0mM9

Ben Carson responds to Twitter firestorm after his controversial comparison

After setting social media sites on fire from a comment in his speech calling slaves immigrants, Ben Carson set to work clarifying his comments. After several posts explaining immigration is not necessarily voluntary, the HUD secretary posted this to Facebook, explaining his stance on immigration versus slavery.

from Byrd Mix http://ift.tt/2mU3h82 via byrd memphis developer


from Tumblr http://ift.tt/2n3qbXv

Here's how much Rocket Mortgage helped Quicken Loans in 2016

It’s been just over a year since Quicken Loans went digital with Rocket Mortgage, the lender’s fully online mortgage. And now that the dust is settled from Rocket Mortgage’s first year of existence, the question is just how much did the digital mortgage drive business for Quicken Loans? The answer depends on your perspective.

from Byrd Mix http://ift.tt/2mC6cl2 via byrd memphis developer


from Tumblr http://ift.tt/2mV2O5t

Mortgage Connect acquires Urban Lending Solutions Appraisals

The latest mortgage acquisition news comes from Mortgage Connect, a national closing and title settlement service. The company, along with M&G Realty Enterprises, a real estate services investment company, announced that through MCMG Holdings, Mortgage Connect’s subsidiary, they have acquired Urban Lending Solutions Appraisals.

from Byrd Mix http://ift.tt/2lZnkO7 via byrd memphis developer


from Tumblr http://ift.tt/2n3otoG

Ally Home Loans now offers Fannie's low down payment product

Ally Home Loans, which is the newly created direct-to-consumer mortgage arm of Ally Bank, only jumped into mortgages at the end of last year, and it’s already broadening its suite of products. The mortgage company announced it will start offering Fannie Mae’s HomeReady mortgage loan to better cater to first-time homebuyers.

from Byrd Mix http://ift.tt/2mBDG3h via byrd memphis developer


from Tumblr http://ift.tt/2mV0DPf

Consumers have never felt better about housing than they do right now

Consumers’ faith in the housing market is stronger than it’s ever been before, according to a newly released survey from Fannie Mae. Fannie Mae’s latest Home Purchase Sentiment Index shows that consumer confidence in housing hit an all-time high in February, continuing a climb in confidence that began in January.

from Byrd Mix http://ift.tt/2mfjS37 via byrd memphis developer


from Tumblr http://ift.tt/2n3L4S7

Gen Xers suddenly start buying homes in droves

Millennials receive much of the focus from the housing market as they are the next generation expected to enter the market, however the much-needed starter homes are currently owned by another generation – Gen X. And for the first time in several years, Gen Xers are beginning to buy their next home, showing the most home buying activity since 2014.

from Byrd Mix http://ift.tt/2mTku1e via byrd memphis developer


from Tumblr http://ift.tt/2mUXsqO

CoreLogic: Spring home buying season looks to be strongest in recent memory

Home prices increased this year, leaving experts at CoreLogic to say the spring home buying season could be the strongest in recent memory. With continued economic recovery and dwindling housing inventory, the company forecasts home prices to continue their upward climb into 2018.

from Byrd Mix http://ift.tt/2lYu6DQ via byrd memphis developer


from Tumblr http://ift.tt/2n3vA0s

LendIt: Election years can disrupt fintech, too

A recurring theme through all the presentations during the day at LendIt was an eagerness on the part of all representatives and their staff to hear from and engage with key players in the fintech industry. Our main takeaway from the day’s discussions on regulation is that the representatives and regulators are listening.

from Byrd Mix http://ift.tt/2mZvUxa via byrd memphis developer


from Tumblr http://ift.tt/2memtdy

LendIt keynote: Online lending is an industry built to last

At first look, it seemed to be an unlikely crowd for a conference involving technology-focused disruptors, but perhaps the formality of the event was indicative of the startups in attendance – growing companies beginning to rub shoulders with the establishment.

from Byrd Mix http://ift.tt/2lWhHAu via byrd memphis developer


from Tumblr http://ift.tt/2mhccid

Stewart, ClosingCorp announce partnership to provide title insurance fees

Lenders that use ClosingCorp’s SmartFees platform will now be able to access title insurance rates and fees from Stewart within the platform, thanks to a partnership announced by the two companies.

from Byrd Mix http://ift.tt/2lVKDID via byrd memphis developer


from Tumblr http://ift.tt/2meeflx

Florida real estate agents targeted by elaborate fake Realtor group

Florida Realtors, which boasts 165,000 members in 55 boards and associations, issued a warning to its members this week after Realtors in the state recently began receiving letters from the “Florida Board of Realtors” that claim the Realtors real estate license is in danger of suspension. The issue? The “Florida Board of Realtors” doesn’t exist.

from Byrd Mix http://ift.tt/2mcMOsu via byrd memphis developer


from Tumblr http://ift.tt/2mh7lxI

United States flips sides, supports PHH in case against CFPB

In a major, but not surprising move, the United States revealed that it now supports PHH in its landmark case against the Consumer Financial Protection Bureau. Judging by a new motion filed by the United States, the U.S. needs a little more time to gather its thoughts on supporting PHH.

from Byrd Mix http://ift.tt/2lQnRBb via byrd memphis developer


from Tumblr http://ift.tt/2mdZkrK