Wingspan Portfolio Advisors launched its newest homeowners association resolution services unit to address a growing problem for servicers and regulators: HOA claims for unpaid fees. …read more
Monthly Archives:: October 2013
New York Times Writer Celebrates Single-Party Rule in California – Fox and Hounds Daily
New York Times Writer Celebrates Single-Party Rule in CaliforniaFox and Hounds DailyThe New York Times news department has apparently become the official national propaganda machine of California’s liberals in control of state government, more-or-less in the same manner as the Soviet Communist Party’s newspaper Pravda served as the … …read more
Lender Greystone closed 12 transactions in 3Q
Greystone’s Chicago office closed 12 transactions in the third quarter of 2013, bringing the total number of loans closed in 2013 to 47. The loans carry an approximate value of $154 million. …read more
HUD, MBA leaders say it’s time to fight an overcorrection in mortgage lending
Policymakers and stakeholders took to the podium at the MBA’s 100th Annual Convention, highlighting the significant progress the mortgage industry has made over the past century, but also pointing out the critical milestones that remain to be reached. …read more
Carl Streicher named SVP at Freedom Mortgage
Freedom Mortgage Corp. just appointed Carl Streicher senior vice president and western division leader for Freedom Mortgage Corp. In his new position, Streicher is charged with overseeing all the day-to-day operations involved in creating the western division sales team. …read more
Warehouse lending still has room to grow
Although the mortgage market has significantly improved since the financial crisis, Stanley Street, founder and president of Street Resource Group, emphasized the need for the industry to further expand into warehouse lending. …read more
Pending home sales fall on declining home affordability
Pending home sales declined 5.6% from August to September, as home affordability receded under the influence of higher mortgage rates, home prices and consumer uncertainty over the state of the U.S. government and national economy. …read more
Correspondent lending division of Envoy Mortgage is up and running
The correspondent lending division of Envoy Mortgage is up and running, rounding out the company’s mortgage product offerings. …read more
Mortgage Builder Software releases the latest Architect updates
Mortgage Builder Software, released its latest update to Architect, which includes significant enhancements to address upcoming compliance requirements that go into effect in January 2014. …read more
Rep. Maxine Waters rolls out aggressive national flood insurance repair program
The plan delays potential rate increases up to four years while giving lawmakers time to obtain an affordability study from FEMA and to address lingering issues raised by the Biggert-Waters Flood Insurance Reform Act. …read more
MBA names 2014 board of directors
The Mortgage Bankers Association swore in its board of directors for the 2014 membership year at the MBA’s 100th Annual Convention & Expo in Washington, D.C. The directors will be in charge of setting the strategic direction for the MBA over the course of the next year. …read more
Monday Morning Cup of Coffee: Mega banks tap loan-loss reserves; MBA 100th kicks off
The nation’s biggest banks are now paying a pretty penny to resolve legacy mortgage issues. And while those big banks deal with these challenges, thousands of mortgage professionals are ascending on Washington D.C., to participate in the MBA’s 100th Annual Convention. …read more
JPMorgan Probe Led by Prosecutor Who Put Away Tomato Racketeer – Businessweek
JPMorgan Probe Led by Prosecutor Who Put Away Tomato RacketeerBusinessweekAn abandoned home in Stockton, California, in this 2008 file photo. Photographer: Justin Sullivan/Getty Images. Benjamin Wagner, the top U.S. prosecutor for mostly rural eastern California, has busted the head of a tomato-packing company for … and more …read more
The house broken American: Many Americans believe they will work until they die and the only asset many have is their home.
By drhousingbubble Americans for the most part are bad at saving money. In fact, the entire credit boom and bust was largely fueled by people and banks living way beyond their means. Even after the recent boom in the stock market and housing market, many Americans are not in a better financial position. The problem […]
LPS: Home prices remain at highest levels since 2007
Only three of the 20 largest U.S. states recorded a drop in home prices from July to August, as overall home values slightly increased 0.4%, according to the latest Lender Processing Services U.S. Home Price Index report. …read more
Foon Rhee: Sacramento-region charities look online and to the young to … – Sacramento Bee
Foon Rhee: Sacramento-region charities look online and to the young to …Sacramento BeeHuge gifts – like the $125 million donation announced this month by the University of the Pacific in Stockton – grab the headlines. But it’s the quieter accumulation of smaller donations, especially online and from younger people, that will determine … …read more
The Cities Creating The Most Middle-Class Jobs – Forbes
The Cities Creating The Most Middle-Class JobsForbesNet worth-wise, as a recent Pew study notes, the wealthy — the top 7% — are thriving due to the rebound of the stock and bond markets; the bottom 93%, whose wealth is more tied up in their homes, is still feeling the hangover from the cratering of … […]
Third-quarter multifamily originations drop 16% from 2Q
Third-quarter originations for multifamily properties declined 16% from the second quarter, as interest rates moved up and government housing agencies put the brakes on capital to the multifamily side of the market, mortgage industry data shows. …read more
MBA urges FHA to adopt QM safe harbor
The MBA sent a letter to the FHA, asking the agency to treat all FHA-insured loans as Qualified Mortgages. …read more
JPMorgan to pay out $5.1B to GSEs, FHFA
JPMorgan Chase will be paying a total of $5.1 billion to resolve outstanding mortgage issues with the Federal Housing Finance Agency and the two government-sponsored enterprises, Fannie Mae and Freddie Mac. …read more
JPMorgan reaches multibillion-dollar settlements with GSEs, FHFA
Fannie Mae and Freddie Mac reached agreements with JPMorgan Chase to resolve outstanding repurchase claims over toxic mortgages, with the mega bank agreeing to pay $1.1 billion to absolve outstanding issues with the GSEs. Meanwhile, the FHFA also announced a multibillion-dollar deal between JPMorgan Chase and the two GSE’s to cover legacy mortgage securities claims. […]
JPMorgan settlement with FHFA imminent
News that JPMorgan Chase has reached a $4 billion settlement with the Federal Housing Finance Agency over legacy mortgage issues is expected to come as early as Friday afternoon. …read more
HW 30 posts mixed results
Stocks on the HW 30 — HousingWire’s exclusive list of mortgage-related companies — were a mixed bag Friday, with some landing in positive territory and others falling short. …read more
Mortgage fraud rises alongside the housing market
A rising tide lifts all boats, and in the case of mortgage fraud, rising mortgage applications lift the potential for fraud. A new CoreLogic study shows an estimated $5.3 billion in fraudulent home loans were submitted to lenders. …read more
Stewart Information Services earnings take a hit
An improvement in the residential resale market was not enough to buoy a drop in Stewart Information Services third-quarter earnings, as the company adjusted to a decline in its mortgage services revenues. …read more