Daily Mortgage News

Pro Teck Valuation Services' May HomeValueForecast.com Update explores important housing indicators, such as the number of home sales and months of remaining inventory (MRI) and their impact on home prices nationwide and in select markets. Read More: Number of Homes For Sale Nationally Down 21 Percent in May … [Read more...]

LenderMobile, a provider of mobile mortgage loan applications for iPads, has added two new features to its LenderMobile+ flagship app in response to users’ requests. The new imaging feature lets loan originators and borrowers take photos of documents with the iPad camera and add the images to loan files through cloud computing technology. Plus, the new loan notes feature lets users add notes to … [Read more...]

Mortgage applications increased 9.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 11, 2012. The Market Composite Index, a measure of mortgage loan application volume, increased 9.2 percent on a seasonally adjusted basis from one week earlier Taken from: Refinance App Volume Rises as … [Read more...]

CampusMBA, the education division of the Mortgage Bankers Association (MBA), has announced that it is partnering with the Consumer Financial Protection Bureau (CFPB) to offer a monthly Webinar series addressing a variety of issues including the CFPB's current activities and significant initiatives impacting the mortgage industry. Click to continue Continue reading here: CFPB Partners With … [Read more...]

Nationwide housing production gained 2.6 percent from an upwardly revised pace in March to hit a seasonally adjusted annual rate of 717,000 units in April, according to newly released figures from the U.S. Census Bureau and the U.S More: Housing Starts Rise 2.6 Percent in April … [Read more...]

The U.S. Department of Housing & Urban Development (HUD) has released two reports on the impact of HUD-approved housing counseling has for those families who purchase their first homes and those struggling to prevent foreclosure View article: New HUD Studies Find the Benefits of Housing Counseling … [Read more...]

Today, the Ranking Members of three House Committees joined several other Members in introducing legislation to enhance the Servicemembers Civil Relief Act (SCRA), a law intended to protect against improper foreclosures, evictions, and other negative financial consequences of military service.   “Our troops fighting overseas in Iraq or Afghanistan should not have to fight here at home just to … [Read more...]

Bank of America Corp (BAC.N) said it has launched a nationwide program that offers increased relocation payments to delinquent mortgage customers who complete qualifying short sales.   The second-largest U.S. bank said the program, which it tested in Florida last year, offers payments of between $2,500 and $30,000 to help homeowners vacate their homes. Continued here: Bank of America To … [Read more...]

Bank of America is being sued in New York state court over losses of more than 200 million in mortgage backed securities that is purchased from IKB Deutsche Industriebank AG (IKB   The Dusseldorf, Germany-based bank contends Bank of America, based in Charlotte, North Carolina, misrepresented the value of separate offerings of $200.3 million and $56.1 million, according to two complaints filed in … [Read more...]

At the Realtors 2012 Midyear Legislative Meetings & Trade Expo, former Republican National Committee Chairman Michael Steele, leading Democratic strategist Celinda Lake, and National Economic Council Director Gene Sperling provided their insights into issues affecting the long-term direction of the country. Click to continue Originally posted here: Panel Finds Housing Issues to Influence the … [Read more...]

Builder confidence in the market for newly built, single-family homes gained five points in May from a downwardly revised reading in the previous month to reach a level of 29 on the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI), the HMI's strongest reading since May of 2007. Click to continue Visit link: Builder Confidence Sees Five-Year High in May … [Read more...]

The National Association of Realtors (NAR) composite quarterly Housing Affordability Index (HAI) rose to a record high of 205.9 in the first quarter of 2012, based on the relationship between median home price, median family income and average mortgage interest rate. The higher the index, the greater the household purchasing power. This is the first time the quarterly index broke the 200 mark; … [Read more...]

Federal Housing Finance Agency (FHFA) Acting Director Edward J. DeMarco has released, for public comment, the FHFA’s draft Strategic Plan: Fiscal Years 2013-2017 . Click to continue Link: FHFA Releases Draft Strategic Plan for Public Comment … [Read more...]

Mortgage Builder has agreed to acquire GCC Servicing Systems, a loan servicing software provider that shares 35 years of history with its new owner. Continue Reading: Mortgage Builder Announces the Acquisition of GCC Servicing Systems … [Read more...]

As a result of information provided to the Office of Comptroller of the Currency (OCC) by Allonhill, the OCC has directed Allonhill to cease reviewing files related to the Independent Foreclosure Review as a primary independent consultant or subcontracted consultant.   The OCC took this action after Allonhill reported work for third parties that the OCC determined to be inconsistent with the … [Read more...]

The Federal Reserve Board, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation on Monday issued final supervisory guidance regarding stress-testing practices at banking organizations with total consolidated assets of more than $10 billion. View article: Agencies Finalize Large Bank Stress Testing Guidance … [Read more...]

On Wednesday the Oversight and Investigations Subcommittee will vote whether to subpoena documents from the Department of Housing and Urban Development related to the agency’s administration of the HOME Investment Partnership Program. Read the original post: Oversight and Investigations Subcommittee to Vote On HUD Program … [Read more...]

The income and business of Realtors is growing after many years of decline, according to the 2012 National Association of Realtors Member Profile. The study’s results are representative of the nation’s Realtors, who are members of NAR. Realtors account for about half of the two million active real estate licensees in the U.S., as NAR members subscribe to the association's Code of Ethics and … [Read more...]

Nationstar Mortgage Holdings Inc. has announced that it has signed a definitive agreement to acquire certain residential mortgage servicing assets and other assets from Residential Capital LLC and related entities (ResCap) in connection with ResCap’s proposed asset sale pursuant to a plan under the U.S. See the original post: Nationstar Agrees to Acquire Mortgage Servicing Assets of ResCap … [Read more...]

According to the Freddie Mac Quarterly Product Transition Report, in the first quarter of 2012, fixed-rate mortgages (FRMs) accounted for more than 95 percent of refinance loans. Refinancing borrowers preferred fixed-rate loans, regardless of whether their original loan was an adjustable-rate mortgage (ARM) or an FRM. Of borrowers who refinanced during Q1, 31 percent reduced their loan term by … [Read more...]