If the lending environment continues, JPMorgan Chase might as well just have put its money in a 10-year Treasury bond than provide mortgages. At least that is what one article is arguing.
Industry Leaders LPS and KMC Information Systems Form Strategic Alliance
Integration of LPS Technologies and CaseAware Case Management System Will Improve Foreclosure Processing Efficiency and Transparency
Lender Processing Services, Inc. (NYSE: LPS), a leading provider of integrated technology, data and analytics to the mortgage and real estate industries, and KMC Information Systems (KMCIS), the leading provider of case management and integration technology to law firms and trustees, have formed a strategic alliance that will more fully integrate select LPS technologies with KMCIS’ CaseAware® platform and create an end-to-end foreclosure processing solution for loan servicers.
Click here to read the full release
Despite recording signs of strong new lending activity, the slight uptick in mortgages still came up short in U.S. Bancorp’s first quarter earnings, offsetting any potential growth as mortgage banking revenue tumbled.
Housing starts were at a seasonally adjusted rate of 946,000, a 2.8% increase from the revised February estimate of 920,000, but a 5.9% drop from the March 2013 rate of 1,005,000, with strength in the single-family component picking back up.
Heavy mortgage-related litigation expenses and a mortgage lending business in retreat hurt Bank of America in the first quarter of 2014, with the bank forking over $6 billion in mortgage-related litigation costs this quarter.
Mortgage activity is up as of last week, after four weeks of declines.
The high costs are driving the amount of sales to a six-year low. There were a total of 17,638 new and resale houses and condos sold in the Southern California area in March. That's the lowest in March since 2008.
The move comes months after the Federal Housing Administration’s announcement that it would be accepting more electronic signatures on mortgage-related documents as well.
According to data from RBS, the total cashed out dollars has tumbled from a peak of $320 billion in 2006 to $32 billion in 2013.
Jean Badciong has been promoted to chief compliance officer and Paul Buege has been promoted to chief operating officer.
Many millennials are topping off the final days of their college educations and entering the beginning stages of their career. So where are they choosing to live, or better yet, where should they live?
Shorter-term mortgages are on the rise, rising rates and equity may mean more HELOCs and short sales may fall of the cliff.
The new home market is getting no spring lift whatsoever at least based on the National Association of Home Builder’s housing market index, which missed expectations for the last seven out of eight months, coming in at a lower-than-expected 47.
With non-QM comes more risk. There is no safe harbor and holding them on portfolio could mean boosting capital reserves. Nonbank lenders, meanwhile, need to find an investor willing to buy non-QM loans.
Every market bodes a different credit risk, and a new product from Collateral Analytics shows just how different each area can be. Coming in on top, San Francisco ranks as number one for the highest credit risk spread.
According to data from Mortgage Daily, there were 13 mortgage-related businesses that either failed or closed in the first quarter of 2014. That figure is down two from the first quarter of 2013.
Mortgage applications for new home purchases in March increased by 15% over February but this bit of good news comes on the heels of news lenders have made a mere $226 billion of mortgages in the first quarter of 2014, which is the lowest amount since 1997.
All five national indices showed a drop-off for the second month straight in March, with the first mortgage default rate hitting 1.13% in March, the lowest level since September 2006.
If those economists who believe the government will continue to intervene are right, the outcome would further fuel a false demand for available housing. But will this government or even a new one want to step in again to bail out consumers?
Data suggests that an annual growth in inventory and days on the market, coupled with more modest price increases than in years past, speaks to a healthier market in 2014 compared with the early buying season in 2013.
Taxes are up, and one comprehensive tax reform measure would limit the mortgage interest deduction. Good idea, or another headwind the housing market can't take?
The company initially said that the characteristics of the outage appeared to be consistent with a distributed denial of service attack. Now the company’s CEO is apologizing to its clients.
The licensing requirement was included as part of the New York state budget passed on April 1. New York was previously one of three states in the country that did not require its title insurance agents to be licensed.
According to a recently published data, in the first quarter of 2014, banks filed 2,348 court notices in non-judicial states -- a drastic jump compared to just seven notices in the first quarter one year prior. California's Homeowner Bill of Rights is driving a change in the foreclosure process, and it looks like it's just getting started.
United Wholesale Mortgage, one of the nation’s largest wholesale lenders, launched a new program called ‘Big & Easy Plus,’ which is design for non-QM Jumbo loans.
Moody's says the GSE package could help kick-start issuance in the private-label residential mortgage-backed securities.
The next couple of quarters may be rough going for the housing and finance industry.
Closing one of the final mortgage ties Ally had, U.S. Bancorp announced it entered an agreement to purchase the document custodian business of Ally Bank.
Three financial trade associations have issued a joint letter protesting the direction in housing finance reform as biased in favor of large lenders, and they list seven specific concerns they have about Johnson-Crapo.
As discussions on Capitol Hill have intensified with multiple proposals for GSE reform coming from both sides of the aisle, Federal Housing Finance Agency Director Mel Watt’s voice will carry a significant amount of weight, provided that he actually uses it.
No one can say why some suburbs are crime-ridden and others are safe, but one can at least know which is which.