CBC offers new LexisNexis FCRA report for lien and judgment data

Starting July 1, the three national credit reporting agencies will stop collecting and reporting information on lien and judgement data obtained from public records, leaving lenders with a significant hole in their assessment of a borrower’s creditworthiness. To fill that information gap, two subsidiaries of CBC Companies — CBCInnovis and Factual Data — are offering the LexisNexis RiskView Liens & Judgments Report.

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Grassroots military organizations ask Congress to save the CFPB

As the Financial CHOICE Act winds its way through the House of Representatives, two grassroots organizations that represent current and former members of the military are asking the members of Congress to leave the Consumer Financial Protection Bureau alone and allow the bureau to continue functioning as it does now.

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FHFA seeks to improve access to credit for borrowers with limited English proficiency

The Federal Housing Finance Agency issued a Request for Input on issues facing qualified mortgage borrowers with limited English proficiency in order to gauge how it can better serve them. If you have thoughts on how to better serve these borrowers, now’s the time to share them.

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SunTrust fined $1.5 million by Federal Reserve for violations of Flood Insurance Act

SunTrust Bank will pay a fine of more than $1.5 million for the bank’s “pattern or practice of violations” of a portion of the National Flood Insurance Act, the Board of Governors of the Federal Reserve announced on Thursday.

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OfferPad signs on for Zillow's "Instant Offers" home-buying program

It’s now been a few days since Zillow sent the housing business into a bit of a fervor when it announced that it was getting into the home-selling business with its “Instant Offers” program, and more details about how the program will work are beginning to emerge. Now, another of the participating investors has revealed itself.

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Want to recruit more Millennials? Learn what matters most from our experts

One thing became clear very quickly during HousingWire’s webinar on how to hire Millennials on Thursday — few attendees knew they wanted to go into housing at the outset of their careers. And yet, like our three panelists, they are all got into the industry one way or another. So how do we get others to join a space that a lot of Millennials are unfamiliar with? These three HousingWire Rising Stars give tips on where to start to fix this problem.

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Stearns Lending introduces new loan program with lower payments for first two years

With loan originations on the decline, it seems that lenders are stepping “out of the box,” so to speak, when it comes to targeting prospective borrowers. Some lenders are offering 1% down payment programs, but what about borrowers who are more concerned with their monthly payment as opposed to their upfront costs? Stearns Lending claims to have an answer for that.

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Attom: Refinance originations fell to 10-year low in 1st quarter

Mortgage rates may sit at a yearly low right now, but earlier in the year rates sat well north of 4%, and that drove first-quarter refinance originations to the lowest level in 10 years, a new report from Attom Data Solutions shows. Here’s a full breakdown of Q1’s loan data.

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CAR: California pending homes sales drop four months in a row

California pending homes sales continued to trend down in April due to low housing inventory and eroding affordability. The report also came with CAR’s April Market Pulse Survey, which gave a more in-depth explanation from California Realtors on what they are witnessing in the market. Spoiler: Realtors aren’t too optimistic about the rest of the year.

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Mid America buys eNote from North Carolina's first eClosing

North Carolina performed its first-ever eClosing back in May, marking the first transaction that was a full eClosing. Plus, according to state officials, it won’t be the last. Taking it one step further, Mid America Mortgage announced it purchased the eNote, ensuring the mortgage has an investor.

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Freddie Mac: Mortgage rates now sit at lowest level in 2017

As forecasted, mortgage rates continued to drop in the latest Freddie Mac Primary Mortgage Market Survey. And not only did rates drop, but they now sit at their lowest mark of the year, with the 30-year mortgage rate falling below the 4% threshold.

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Fannie Mae EXCLUSIVE: The crisis in affordable rental housing, Part 2

With the Section 8 Housing Choice Voucher Program, low-income renters in the program pay 30% of their incomes toward housing, with the federally funded program paying the balance to the landlord up to a set maximum. Demand is so great, however, that thousands of families can linger for years on waitlists in some cities with no assurance they will ever receive a voucher. Created in the 1970s, it may be time to take a fresh look at the voucher system to ensure we’re effectively serving today’s households.

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California district court upholds constitutionality of CFPB

As the Consumer Financial Protection Bureau and PHH begin their oral arguments in their landmark case over the constitutionality of the bureau, there is one court that’s apparently on the CFPB’s side. A U.S. district court judge in the Central District of California defended the constitutionality of the Consumer Financial Protection Bureau after rejecting multiple challenges to the bureau’s authority.

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Black Knight Financial Services unveils municipal lien search

Black Knight Financial Services is rolling out a new tool that it will help identify municipal liens that would go unseen in a typical property report and are outside the scope of title insurance coverage. Here are the details.

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Have issues with the Zestimate? Zillow is offering $1 million to fix it

Zillow knows its “Zestimate,” the online real estate giant’s property value estimation tool, isn’t perfect. Even after years of consistently working on the algorithm that powers the Zestimate, Zillow still acknowledges that its Zestimate error rate is still 5% nationwide. But Zillow wants to do something about it, and it’s offering up a sizable carrot for anyone who can make the Zestimate better: $1 million.

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Fed minutes show June rate hike isn’t guaranteed

Despite common consensus that the Federal Reserve will raise interest rates in June, the latest Federal Open Market Committee meeting minutes created a seed of doubt. As a result, investors will likely be paying close attention to economic data released over the next several weeks.

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SEC accuses Texas mortgage lender of running massive Ponzi scheme

A North Texas man who raised nearly $23 million from investors under the guise of investing in the mortgage business actually used some of the money for his own personal use, while funneling money to a supposed concert promoter who claims to represent Taylor Swift and Drake, the Securities and Exchange Commission said this week.

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Fannie Mae rolls out Healthier Housing Rewards for multifamily properties

Fannie Mae this week rolled out a new program designed to boost the development of healthy living options for residents of multifamily properties. The program, called Healthy Housing Rewards, is an initiative that targets the developers and offers them an incentive to include healthy design features for newly constructed or rehabilitated affordable, multifamily rental properties.

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Guild Mortgage launches nationwide 1% down mortgage program

Guild Mortgage announced a new nationwide 1% down mortgage product to cater to the upcoming surge in Millennial homebuyers. To make the down payment so low, the borrower’s 1% down will be combined with a 2% grant from the lender. While it’s not the first lender to roll out a 1% down, there are a couple key factors that make Guild’s 1% down mortgage stand out.

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Freddie Mac: Cash-out refinance activity highest since the bust

This year is shaping up to outpace expectations thanks to a resurge in refinance demand, especially when it comes to cash-out transactions. In fact, according to Freddie Mac’s May Economic and Housing Research Outlook report, 2017 is performing so well that it increased its 2017 forecast for mortgage originations.

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