18 September 2017

The case for the fully digital mortgage

[Expert commentary] I call today upon our industry to work even harder to make the fully digital mortgage a reality. While there are risks to changing the way we originate, record and transfer mortgage loans, the benefits far outweigh those risks. It’s in the consumer’s best interest, and in our best interests as well. Source: […]

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18 September 2017

Recent hurricanes create concern among homebuilders

The recent hurricanes which swept the coastlines in parts of Texas and Florida created a drag on homebuilder confidence. The National Association of Home Builders explained the hurricanes intensified its members’ concerns about the availability of labor and the cost of building materials. Source: Housing Wire News

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18 September 2017

Equifax, Wells Fargo fiascos prove housing needs immediate reform

[Commentary] Dear Congress: The Equifax debacle is your signal to fast track housing reform. This is the opportunity you’ve been waiting for; never has there been more of a need to rework Fannie Mae and Freddie Mac, and no one wants this more than the great people who work there. Besides, the exposure of millions […]

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18 September 2017

Monday Morning Cup of Coffee: Fed moves to sell massive mortgage debts

In the wake of the financial crisis, the Federal Reserve bought significant amounts of mortgage debt to keep the secondary capital markets liquid. The Fed will soon stop buying such debt next year, while at the same time reducing its MBS holdings, hopefully in a market-orderly fashion. But we’ll see. All that and more, in […]

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15 September 2017

Heads roll at Equifax: Chief information officer, chief security officer "retire" immediately

Heads have officially started rolling at Equifax. Last week, the credit reporting agency revealed a massive data breach that exposed the personal information of 143 million U.S. consumers to hackers. And now, two of the executives charged with the security of Equifax’s credit data are no longer employed by the company. Click the headline to […]

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15 September 2017

Returns from home flipping drop for third consecutive quarter

As investors witnessed less return for flipping homes again, the overall share of home flippers dropped. And for those who continue to flip homes, they increasingly relied on financing, which grew to a nearly 10-year high. Source: Housing Wire News

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15 September 2017

Chronos Solutions adds liens and judgments data to product offerings

Financial real estate services provider Chronos Solutions announced it added supplemental liens and civil judgments data to its Funding Suite Credit Report offerings. The decision comes after a recent court ruling that impacted the ability of lenders to establish a borrower’s creditworthiness. Source: Housing Wire News

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15 September 2017

After finding success in U.K., flat-fee real estate agency Purplebricks debuts in U.S.

Purplebricks, which bills itself as “next-generation” real estate agency, is launching in the U.S. after building successful businesses in the United Kingdom and Australia. The company, which offers a flat fee for home sellers along with other technological advances, will roll out its service in the Los Angeles market first. Source: Housing Wire News

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15 September 2017

New Yorkers accused of defrauding government by pretending Hurricane Sandy destroyed their home

A Staten Island, New York couple stands accused of defrauding the federal government out of $750,000 by pretending that they owned a home that was damaged by Hurricane Sandy. Court documents show that they actually abandoned the home seven months before the storm hit, but still claimed that they lived there and used that deception […]

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15 September 2017

Hurricanes pull consumer confidence down in early September

After seeing the devastation brought by Hurricane Harvey and Hurricane Irma, Americans became less confident in the future of the U.S. economy. And the University of Michigan shows this decrease in confidence could last longer than that seen after previous hurricanes. However, given the current resilience of consumers, recent events are unlikely to derail confidence. […]

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15 September 2017

Ginnie Mae investigating aggressive lenders targeting veterans for quick refinances

Ginnie Mae is looking into a number of mortgage lenders that are aggressively targeting servicemembers and military veterans for quick and potentially risky refinances of their mortgages. Ginnie Mae’s investigation comes at the urging of Sen. Elizabeth Warren, D-Massachusetts, who raised concerns about lenders that may be “aggressively and misleadingly marketing the refinancing of mortgages […]

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15 September 2017

New American Funding expands to Silicon Valley

New American’s new branch will occupy about 4,000 square feet of contemporary office space in the downtown San Jose area at the top of a 16-story high rise, and the company held a red carpet event to celebrate its grand opening. It selected a new branch manager to lead the new team, and expects to […]

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