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Fed To Begin Quantitative Tightening ‘Relatively Soon’

Posted by Patrick Barnard on July 26, 2017

The Federal Open Market Committee in June voted to maintain the current Federal Funds rate at 1.0%-1.25%, raising renewed questions regarding how many more times the Fed will hike this year. Some economists say the Fed will likely be more [Read More]

Mortgage Servicer Ocwen Inks Major MSR Deal With New Residential

Posted by Patrick Barnard on July 25, 2017

“This is a great transaction for both companies, and we are extremely pleased to announce our new strategic partnership.”

Black Knight: Low Interest Rates Continue To Push Prepayments Higher

Posted by Patrick Barnard on July 24, 2017

Low interest rates continued to push prepayments higher in June, according to Black Knight Financial Service’s “First Look” report. The prepayment rate in June was 1.12%, an increase of 5.3% compared with May, according to the report. It was the [Read More]

Harry Gardner: Misconceptions Still Surround E-Signatures

Written by Patrick Barnard on July 24, 2017

PERSON OF THE WEEK: Harry Gardner is executive vice president of e-strategies for Docutech, a provider of e-signature and e-document technology to the mortgage industry. MortgageOrb recently interviewed Gardner to learn more about the benefits that e-signatures bring to lenders [Read More]

Median U.S. Home Value Surpasses $200k for the First Time

Posted by Michael Bates on July 21, 2017

According to the June Zillow Real Estate Market Reports, the national median home value is now $200,400, up about 7.5% since this time last year and representing the first time that the typical U.S. home is worth over $200,000. “Even [Read More]

Fannie Mae: Slowdown Likely in Second Half

Posted by Michael Bates on July 19, 2017

Expectations for 2017 economic growth remain at 2.0% amid a projected second-half slowdown, according to the Fannie Mae Economic & Strategic Research (ESR) Group’s July 2017 Economic and Housing Outlook. With the expansion having entered its ninth year, incoming data [Read More]

Chase Taps Google’s Data to See What Mortgage Info Is Being Searched

Posted by Michael Bates on July 19, 2017

Chase Home Lending and Google recently announced a partnership whereby the organizations are collaborating to see how and what people are searching to find more information about homeownership. The “Search for Home Snapshot,” available here, offers insights that show consumers [Read More]

RBS Settles Mortgage Securities Lawsuit for $5.5 Billion

Posted by Michael Bates on July 12, 2017

The Royal Bank of Scotland Group (RBS) has reached a settlement with the Federal Housing Finance Agency (FHFA), the conservator of Fannie Mae and Freddie Mac, to resolve claims by the FHFA in relation to RBS’ issuance and underwriting of [Read More]

Millennials Are Hot for Minnesota?

Posted by Michael Bates on July 12, 2017

Millennials continue to compete for available housing inventory, but recent data from Ellie Mae shows that millennials are attracted to more affordable real estate markets, particularly in the upper Midwest. According to the May Ellie Mae Millennial Tracker, Hutchinson, Minn.; [Read More]

HSBC Reportedly Engaged in Negotiations with DOJ

Posted by Michael Bates on July 05, 2017

Global banking behemoth HSBC Holdings is reportedly negotiating with the U.S. Department of Justice to potentially resolve open investigations regarding the company’s mortgage securities activities more than 10 years ago. According to coverage from Bloomberg, HSBC “has had at least [Read More]

Home Prices ‘Up Strongly’ According to Newest Data

Posted by Michael Bates on July 05, 2017

According to the CoreLogic Home Price Index (HPI) and HPI Forecast for May 2017, home prices are up strongly both year over year and month over month, increasing 6.6% since May 2016 and 1.2% from April to May. “The market [Read More]

NAR: Pending Home Sales Decrease for Third Consecutive Month

Posted by Amanda Fava on June 28, 2017

The ongoing supply shortages that are propping up home prices in many metro areas caused pending home sales in May to slump for the third consecutive month, according to the National Association of Realtors (NAR). The Pending Home Sales Index [Read More]

S&P/CoreLogic: Home Prices Continue Upward Trajectory, with 5.5% Annual Gain

Posted by Amanda Fava on June 28, 2017

Home prices continued trending upward across the country during the last 12 months, according to the S&P/CoreLogic Case-Shiller Indices, which reported a 5.5% annual gain in April – down from 5.6% the month prior. The 10-city composite annual increase came [Read More]

NAR: Homeowners Confident in Selling; Renters Losing Confidence in Buying

Posted by Amanda Fava on June 26, 2017

Existing housing inventory has declined year over year each month for two straight years, but new consumer findings from the National Association of Realtors (NAR) offer hope that the growing number of homeowners who think now is a good time [Read More]

New Yorkers See Longer Time to Break Even on Home Purchases in Q1’17

Posted by Michael Bates on June 23, 2017

The costs of renting a home in New York City would exceed the costs of buying a comparable home in 5.6 years, according to local online real estate marketplace StreetEasy’s Tipping Point analysis. The analysis finds an increase in tipping [Read More]

NAR Provides Snapshot Of Healthy Market In May

Posted by Michael Bates on June 21, 2017

Existing-home sales rebounded in May following a notable decline in April, and low inventory levels helped propel the median sales price to a new high while pushing down the median days a home is on the market to a new [Read More]

Bringing It All Back Home: Nationstar Onshores Call Centers

Posted by Michael Bates on June 21, 2017

Nationstar Mortgage says it has moved its international call center operations back to the U.S., creating 500 new jobs and bringing customer service closer to the company’s more than 3 million customers. Moving all call center operations onshore represents one [Read More]

MBA Critical Of FHFA Recommendations

Posted by Michael Bates on June 19, 2017

The Mortgage Bankers Association (MBA) says it is supportive of many recommendations contained in the Federal Housing Finance Agency’s (FHFA) annual report to Congress, released last week. However, the organization has also expressed concerns about certain measures the FHFA is [Read More]

Fannie Mae Provides Updated Economic Forecast

Posted by Michael Bates on June 19, 2017

According to the Fannie Mae Economic & Strategic Research Group’s June 2017 Economic and Housing Outlook, the current economic expansion is forecast to continue, with full-year growth at 2% for 2017. “This month marks the eighth anniversary of the U.S. [Read More]

Mortgage Delinquencies Dropped To A 10-Year Low In March

Posted by Michael Bates on June 14, 2017

CoreLogic’s most recent Loan Performance Insights Report shows that, nationally, 4.4% of mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure) in March 2017. This represents a 0.8-percentage-point decline in the overall [Read More]