loanDepot announced on Thursday that it filed for an initial public offering, confirming industry rumors that started at the beginning of September. So far, the number of shares to be offered and the price range for the proposed offering have not yet been determined.
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.
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LERETA, a provider of access to property tax data and flood hazard status information for the mortgage and insurance industries, announced the retirement of Jim Thornton as the company’s chief executive officer, ending a 25-year run with the company.
Back a few months ago, Zillow Group CEO Spencer Rascoff put his money where his mouth is by listing a house he owned for sale – on Zillow. The listing apparently hasn’t generated quite as much interest as Rascoff hoped, despite two price cuts. Rascoff now has an unlikely ally in the sale of his house – a real estate startup that’s guaranteeing the sale of Rascoff’s house and putting its money where its mouth is.
While California’s housing market is expected to improve in 2016, a shortage of available inventory and continuing high costs are expected to limit it, according to a report released by the California Association of Realtors.
Distressed sales, which include real estate-owned properties and short sales, accounted for 9.4% of total home sales nationally in July 2015, down 2.1 percentage points from July 2014 and down 0.4 percentage points from June 2015.
The Consumer Financial Protection Bureau issued a bulletin that basically doubles down on a warning they put out in July about marketing services agreements. It's the stick-and-stick approach going forward, it seems. Will it work? Is it fair?
In this role, Majerus will be responsible for the production, profitability and overall performance for the western region, which covers more than 250 employees in California and Utah across five brands: Princeton Capital, First Capital, Mortgage California, Axiom Financial and Rocky Mountain Mortgage.
With the new TRID rule increasing time pressures on the exchange of settlement documents, it’s a good time - maybe high time - all real estate professionals assess how they exchange documents with lenders, agents and borrowers. But here's the key: Do you know how to do it securely?
It was a busy week for TRID, MISMO, the GSEs and other acronyms, with a senator taunting and flaunting SEC rules and a presidential candidate defending the CFPB. Want to know more? Of course you do. Read on.
Primary new mortgage insurance continued its recent downward trend and fell to $3.9 billion in September. This is marginally down from $4 billion last month.
Is it acceptable conduct for a Senator, one who sits on the Senate committee regulating housing and directly affecting the GSEs, to recommend shorting Fannie Mae and Freddie Mac?
Fixed-mortgage rates drastically decreased following a more than disappointing September jobs report. This officially marks the eleventh straight week that rates are below 4%, including the 15-year fixed, which fell below 3% once again for the first time since April of this year.
In its latest venture in the industry, Clayton Holdings, a provider of loan due diligence and services to the mortgage and real estate industries, announced it acquired ValuAmerica, national title agency, appraisal management company and technology provider.
Precisely 20,050 residential properties in the foreclosure process were vacant “zombie” homes as of the end of the third quarter of 2015, down 27% from the previous quarter and down 43% from a year ago.
Defying the threat of a White House veto, the House on Wednesday afternoon passed bipartisan legislation to help homebuyers avoid delays and disruptions when closing on their new homes by a bipartisan vote of 303-121. Here's what happens next.
Aiming to provide lenders with “more clarity and transparency” and encourage increased access to credit to worth borrowers, Fannie Mae and Freddie Mac announced a set of new policies pertaining to mortgage buybacks. The new rules, which take effect on Jan. 1, 2016, establish a list of potential alternatives to repurchase that either of the GSEs could offer to lenders in the event of underwriting defects.
Before you let the cost of a down payment get in the way of your homeownership dream, make sure you fully understand the options available to you. One of these five common misconceptions could be holding you back from buying a home.
While the House of Representatives is due to vote any day now on formalizing a hold harmless grace period for the enforcement of the CFPB’s new TILA-RESPA Integrated Disclosure rules, Fannie Mae and Freddie Mac are extending an olive branch to the industry, by establishing their own grace period for TRID enforcement – albeit without a designated end date.
JPMorgan Chase is attempting to grow its mortgage market share to offset recent revenue declines in its mortgage business as fewer Americans refinance, a move viewed as risky by most big banks. But according to JPMorgan, they have their bases covered.
Atlanta, Charlotte, Fort Lauderdale, Riverside and San Diego are included among the 2015 "Best Markets Top 10 List" compiled quarterly by HomeVestors and Local Market Monitor, which looks for investment opportunities in a housing market where broad foreclosure opportunities are shrinking.
Daniel Consuegra, the managing partner of the Law Offices of Daniel C. Consuegra, joins the Florida law firm of Shapiro Fishman & Gache, a member of the LOGS Network. The new firm will be renamed Shapiro Fishman Consuegra & Gache.
A new industry report blames the Federal Open Market Committee for the rising risk in bank loan portfolios. Plainly stated, this economic environment is too good to be believed – or sustained.
The White House is threatening to veto a wholly bipartisan House measure that would simply create a formal “hold-harmless” grace period for lenders and others in the industry operating under the new and incredibly complex TILA-RESPA Integrated Disclosure rule. Because reasons or something.
The Consumer Financial Protection Bureau is going after standard arbitration clauses, an avenue with a nine-decade pedigree designed to allow consumers and businesses a far less expensive option. This could affect most consumer lending, including expanding the existing limits in mortgage lending.
The House of Representatives is scheduled to vote on a bill that would extend and formalize the grace period for the TILA-RESPA Integrated Disclosure rule until Feb. 1, 2016, and the White House is threatening to veto the measure if it passes Congress. Congress isn't blinking.
After a summer of subdued or declining activity, mortgage applications increased 25.5% from one week earlier. The gains were in both purchase and refi applications.
Fifth Third Bancorp will pay $85 million as a part of settlement with the federal government over allegations that the bank failed to self-report mortgages it knew to be defective, causing millions of dollars in losses to the Department of Housing and Urban Development.
Home sales in western Washington state are predicted to slow down the rest of the year and into early 2016 due to these three things. And then there's TRID.
While a government shutdown isn’t seen as highly likely this fall, it’s not out of the realm of possibility. A few circumstances could align to make it happen right when the Federal Reserve is looking at raising interest rates.
Congressional sources tell HousingWire that the House will consider H.R. 3192, the Homebuyers Assistance Act, sponsored by Rep. French Hill, R-Ark., Wednesday afternoon. The industry says it's badly needed. Will it pass and will it be enough?