Despite the risk posed by more economic and political shock globally, the U.S. economy and housing market appear to be recovering, with more warmth expected for the latter in 2012, chief economists with Fannie Mae and Freddie Mac said this week. Read the original: Fannie, Freddie See Progress for Economy in 2012 … [Read more...]
Daily Mortgage News
Mortgage Apps Decline 4.5 Percent Over Last Week
February 22, 2012 By
Mortgage applications decreased 4.5 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending Feb. Visit link: Mortgage Apps Decline 4.5 Percent Over Last Week … [Read more...]
Appraisal Management Firm MountainSeed Names Nathan Brown Head of Compliance
February 22, 2012 By
MountainSeed Appraisal Management has announced that Nathan C. Brown has joined the company as its chief legal officer and senior compliance manager. Brown brings a substantial wealth of knowledge garnered through years of experience in advising clients through complex financial transactions to his new role at MountainSeed Appraisal Management. Click to continue Original post: Appraisal … [Read more...]
Existing-Home Sales Rise for the Third Time in Four Months
February 22, 2012 By
According to the latest reports from the National Association of Realtors (NAR), existing-home sales rose in January, marking three gains in the past four months, while inventories continued to improve. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 4.3 percent to a seasonally adjusted annual rate of 4.57 … [Read more...]
Mortgage Application Volume Fell 4.5%: MBA
February 22, 2012 By
Mortgage application volume contracted by 4.5 percent from the week before, according to the Mortgage Bankers Association. The Market Composite Index, a measure of volume for loan applications, fell 3.6 percent on a seasonally adjusted basis, according to the MBA’s weekly survey Read the original post: Mortgage Application Volume Fell 4.5%: MBA … [Read more...]
DRI Adds New Sales Position, Promotes Schaefer to SVP
February 22, 2012 By
Bolstering support for its executive sales and client activities , DRI Management Systems, Inc., is enhancing its leadership lineup. The technology solutions company has hired Michael J. Bailin to the newly added position of regional sales executive for the western states division, and DRI also announced the recent promotion of Nancy Schaefer to the role of senior vice president of client … [Read more...]
Carwin Advisors Forecasts Recovery for Las Vegas, Phoenix
February 22, 2012 By
Revealing results from its predictive modeling survey of Las Vegas, Nevada, and Phoneix, Arizona, Carwin Advisors is forecasting the recovery timeline for both metropolitan areas. According to Carwin, Las Vegas will have a longer wait for housing market improvement, while Phoenix is expected to be well on the way to recovery by 2013. Read More: Carwin Advisors Forecasts Recovery for Las Vegas, … [Read more...]
Existing-Home Sales Up in January as Prices Fall: NAR
February 22, 2012 By
Existing-home sales rose in January for the third time in the last four months, according to the National Association of Realtors. January sales – completed transactions – were up 4.3 percent from December to a seasonally adjusted annual rate of 4.57 million. December’s total was revised downward to 4.38 million from 4.61 million Read More: Existing-Home Sales Up in January … [Read more...]
Foreclosure Starts Begin to Rise in January
February 22, 2012 By
Lender Processing Services Inc. (LPS) has reported the following "first look" at January 2012 month-end mortgage performance statistics derived from its loan-level database of nearly 40 million mortgage loans: ►Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 7.97 percent ►Month-over-month change in delinquency rate: -2.2 percent ►Year-over-year … [Read more...]
Bill to Expedite Foreclosures Creates Protests
February 22, 2012 By
Due to the long response time’s connection to short sale transactions, three US senators introduced legislation to speed up the short sale process. Senators Lisa Murkowski (R-Alaska), Scott Brown (R-Massachusetts), and Sherrod Brown (D-Ohio) proposed the bill addressing the issue of short sales timelines on February 17. See the original article here: Bill to Expedite Foreclosures Creates … [Read more...]
A Life Without Fannie and Freddie?
February 22, 2012 By
Fannie Mae and Freddie Mac regulator wants to shrink the seized housing-finance giants gradually and create a new market for mortgage-backed securities to help the private sector. The recommendations came in a new strategic plan for Fannie and Freddie submitted to lawmakers Tuesday by the Federal Housing Finance Agency (FHFA), which has overseen the companies since they were put into government … [Read more...]
Ex-Linebacker, Realtor, Many Others Nabbed for Fraud
February 22, 2012 By
A Realtor and mortgage broker, his wife, and several others found themselves in the crosshairs of prosecutors Tuesday, along with a former Dallas Cowboys linebacker and nine co-conspirators. Excerpt from: Ex-Linebacker, Realtor, Many Others Nabbed for Fraud … [Read more...]
Borrowers Foreclosed Only Incorrectly Have Two Avenues of Recourse!
February 21, 2012 By
Over the past two years, millions of homeowners suffered financial losses because their mortgage lenders played fast and loose while completing their foreclosures. These homeowners now have two ways of getting a payback. See original article: Borrowers Foreclosed Only Incorrectly Have Two Avenues of Recourse! … [Read more...]
FHFA Proposes Remaking Secondary Mortgage Market
February 21, 2012 By
The federal agency responsible for Fannie Mae and Freddie Mac released a proposal Tuesday that calls for lawmakers to gradually wean the GSEs off taxpayer funds and stand up a new secondary market, replete with new institutions, securitization measures, and servicing standards. The proposal outlines steps for ways to shift risk and responsibility from Fannie Mae and Freddie Mac to a new market … [Read more...]
CFPB Convenes Panel to Review Mortgage Disclosure Forms
February 21, 2012 By
The Consumer Financial Protection Bureau took steps Tuesday to engage mortgage lenders by forming a small business panel to review the integration of mortgage disclosure requirements into a single uniform document. The Dodd-Frank Act obligates the bureau to streamline conflicting rules and statutory requirements from the Real Estate Settlement Procedures Act and Truth-in-Lending Act. View … [Read more...]
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