Residential Mortgage – Page 6

The Mortgage Collaborative Adds Correspondent Investor to Network

Posted by Michael Bates on July 19, 2017

Independent mortgage cooperative The Mortgage Collaborative has partnered with national correspondent investor and mortgage loan servicer The Money Source. The Money Source specializes in direct-to-agency loan securitization. The company says its approach is to provide robust product offerings for sellers [Read More]

RE/MAX: Home Sales Continue to Break Records

Posted by Michael Bates on July 17, 2017

According to the July 2017 RE/MAX National Housing Report, June 2017 home sales were 1.4% higher than in June 2016, which was previously the month with the most home sales in the nine-year history of the report. Additionally, four of [Read More]

Specialty Mortgage Bank Deploys New Underwriting System

Posted by Michael Bates on July 17, 2017

Cascade Financial Services, an independent mortgage bank based in Arizona, has implemented LoanScorecard’s Portfolio Underwriter as its automated underwriting system (AUS). Cascade, which is currently licensed in 38 states and plans to expand to the contiguous 48 states by the [Read More]

Americans View Homeownership as a Good Investment But Affordability as a Concern

Posted by Amanda Fava on July 14, 2017

Concerns over housing affordability show clear demographic divides, especially among unmarried and non-white Americans, according to the National Association of Realtors (NAR) 2017 Nation Housing Pulse Survey. The survey found that more than five out of 10 unmarried and non-white [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]

Home Affordability is Moving Out of Reach in Many Places

Posted by Michael Bates on July 12, 2017

While the risk of price declines remains low, affordability is increasingly a concern in cities across the U.S., according to the Summer 2017 edition of The Housing and Mortgage Market Review (HaMMR), published by Arch Mortgage Insurance Co. (Arch MI). [Read More]

IDS Boosts E-Mortgage Capabilities on Core Platform

Posted by Michael Bates on July 12, 2017

International Document Services Inc. (IDS), a mortgage document preparation vendor, has expanded the settings and capabilities of its eSign room within the idsDoc mortgage doc prep platform. The company says the new features enable lenders to create a more seamless [Read More]

Severn Bancorp Buying Maryland-Based Settlement Services Firm

Posted by Michael Bates on July 10, 2017

Severn Bancorp Inc., the parent company of Severn Savings Bank FSB, is acquiring Mid Maryland Title Co., a real estate settlement company that handles commercial and residential real estate settlements in Maryland. Severn Bancorp says the acquisition continues its growth [Read More]

Fannie Mae’s HPSI Shows Record-High Housing Sentiment

Posted by Amanda Fava on July 07, 2017

Fannie Mae’s Home Purchase Sentiment Index (HPSI) increased 2.1 percentage points in June to 88.3, matching the all-time high from February of this year, according to the government-sponsored enterprise (GSE). The GSE says the rise can be attributed to increases [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]

United Shore Moving Corporate Headquarters

Posted by Michael Bates on July 05, 2017

United Shore, parent company of wholesale lender United Wholesale Mortgage (UWM), is moving its corporate headquarters to Pontiac, Mich., in the summer of 2018. The company will be moving into the Hewlett Packard Enterprise building at 585 South Blvd., providing [Read More]

FHFA: Mortgage Rates Decreased in May

Posted by Amanda Fava on July 03, 2017

Nationally, interest rates on conventional purchase-money mortgages decreased from April to May, according to the Federal Housing Finance Agency (FHFA). The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 3.87% for [Read More]

June Existing-Home Sales Projected to Decrease

Posted by Amanda Fava on June 29, 2017

June sales will hit a seasonally adjusted annual rate between 5.28 million and 5.64 million, with a targeted number of 5.49 million, down 2.3% from the National Association of Realtors’ (NAR) reported May sales and down 0.7% from a year [Read More]

Q2’17 Median Home Prices Least Affordable Since Q3’08

Posted by Amanda Fava on June 29, 2017

The U.S. median home price of $253,000 in the second quarter (Q2) of 2017 was at the least affordable level since Q3 2008 – a nearly nine-year low in affordability, according to ATTOM Data Solutions’ Q2 2017 U.S. Home Affordability [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]

Freedom Mortgage Nets Mortgage Assets from New York Community Bank

Posted by Amanda Fava on June 28, 2017

Full-service mortgage lender Freedom Mortgage Corp. has agreed to buy approximately $500 million of selected residential mortgage assets from New York Community Bank’s mortgage banking operation. The deal includes the right to service over $20 billion of residential mortgage loans, [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]

Black Knight: HPI Indicates Rising Home Prices, Up Year Over Year

Posted by Amanda Fava on June 27, 2017

Black Knight Financial Services’ Home Price Index (HPI) was at its highest-ever level in April 2017, at $275,000, representing a 3.6% increase in the average national home price since the beginning of this year. Washington continues to outperform the nation, [Read More]