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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

Mortgage application activity ticks down in MBA surveyOpen in a New Window

Mortgage applications dropped 1.6% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending May 22, 2015.

 

ditech expands its consumer direct channel in FloridaOpen in a New Window

Since Ditech Mortgage Corp launched back into the industry in March 2014, it has made several key changes to once again be a major player in the mortgage space. This time around the lender announced it is expanding its consumer direct channel into the Jacksonville, Florida, area.

 

Caution: GSE reform could have serious unintended consequencesOpen in a New Window

Former Ginnie Mae president Joseph Murin knows first-hand how important the government backstop to the mortgage industry is…and it’s not just for lenders. Without the government guarantee for mortgages, it will be the consumer who suffers most, Murin says.

 

Freddie Mac completes sale of $201 million pool of Ocwen-serviced loansOpen in a New Window

The chain continues as Freddie Mac announced it officially sold 1,052 deeply delinquent Ocwen serviced non-performing loans from its mortgage investment portfolio as part of its Standard Pool Offerings.

 

Associated Bank settles with HUD over discriminatory lendingOpen in a New Window

Wisconsin-based Associated Bank will provide approximately $200 million in mortgage loans for borrowers in minority neighborhoods as part of a settlement with the U.S. Department of Housing and Urban Development over charges of discriminatory lending.

 

First-time buyer share and mortgage risk growOpen in a New Window

The Combined FBMSI, which measures the share of first-time buyers for both government-guaranteed and private-sector mortgages, stood at an estimated 52.2%, up from 51.2% and 51.8% respectively in April 2014 and 2013.

 

Freddie Mac back with new high-LTV risk-sharing mortgage bondOpen in a New Window

Freddie Mac is back in the market with its fourth risk-sharing deal of the year, as the government-sponsored enterprise continues in its push to alleviate the risk to the American taxpayers. Meet Freddie's latest STACR deal.

 

Reality star Nicole Richie wins in California real estateOpen in a New Window

Nicole Richie may be a top reality TV star, along with her singer husband Joel Madden, but she is also branching out into real estate. And it's in California, too.

 

Housing in places like New York, San Francisco fail more than just the localsOpen in a New Window

From the mid-'60s into the new millennium, these three cities in particular experienced phenomenal growth, but only contributed a small fraction to the growth of the nation. It’s this finding last month that underpins the need for a cohesive federal housing policy that can supersede some of the directions taken by local municipalities.

 

Capital Economics: Chart shows home prices ready to grow moreOpen in a New Window

Recent housing reports point to the right conditions for house price growth to pick up even more. What's more, the continued steady growth in home sales this year will only add to the upward pressure.

 

Here's why AMCs need to pay close attention to looming regulatory changesOpen in a New Window

The new regulation requirements for all states is going into effect soon. The good news is that a majority of states are already meeting these minimum requirements, which translates into fewer challenges for AMCs. Currently, 37 of the 54 states and territories impacted by this regulation are in compliance.

 

Motivity releases TRID tool for lendersOpen in a New Window

With the TRID implementation date only a few months away, Motivity Solutions released a new tool to help mortgage lenders comply with the deadline. What makes Movation unique is that it's tied directly to clients’ business processes to reveal data from a firm’s inner workings.

 

Massachusetts Court of Appeals rules for MERSOpen in a New Window

MERS once again wins in the appeal of a trial court ruling that held MERS did not have authority from the original lender to assign the mortgage. Want to know more?

 

New home sales jump in April even as prices gainOpen in a New Window

Sales of new single-family houses in April 2015 were at a seasonally adjusted annual rate of 517,000, a gain driven by home sales in the Midwest even as the Northeast and West regions continue to drag. Here are the details.

 

FHFA: Home prices rose disappointing 0.3% in MarchOpen in a New Window

The FHFA house price index rose a lower-than-expected 0.3% in March, not confirming a much stronger 1.0% gain for the S&P Case-Shiller index also released Tuesday.

 

S&P Case Shiller: House prices beat expectations, gain 1% in MarchOpen in a New Window

Indications on home prices were rising solidly going into the spring selling season though there were some signs of stalling. S&P Case Shiller's adjusted 20-city house price index rose a very solid and slightly higher-than-expected 1.0%. Here's why it's up while the FHFA home price index is down.

 

Black Knight: Home prices see largest monthly gain in two yearsOpen in a New Window

The month of March saw the largest monthly gain in home prices in nearly two years, according to a new report from Black Knight Financial Services. Click through to see which states are performing the best and the worst. But note that the worst ones aren't even that bad right now.

 

Monday Morning Cup of Coffee: Time to cut the MLS cord?Open in a New Window

TILA-RESPA and TRID are closing in – are you ready? Plus how weak is the recovery, will housing pull it through, and you say you want to ditch the MLS? Read on for all this and more.

 

Former Dallas Cowboy out of prison after serving 3 years for mortgage fraudOpen in a New Window

A former Dallas Cowboys player is out of federal prison after serving three years for taking part in a $20 million mortgage fraud scheme, which involved at least 10 other people who were also convicted. The scheme saw the group recruit straw buyers who falsified their income documents to obtain loans for inflated prices.

 

Barclays mortgage bond trader fired for allegedly providing inaccurate information to clientsOpen in a New Window

Barclays Capital fired one of its mortgage bond traders after he allegedly allegedly provided inaccurate information to clients involving residential mortgage-backed securities trades.

 

Title agent gets 5 years in multimillion-dollar mortgage fraud schemeOpen in a New Window

A former real estate title agent was sentenced to 66 months in prison for carrying out a mortgage fraud scheme in which she obtained seven loans, totaling more than $3.7 million.

 

Yellen: If nothing changes, expect higher interest rates this yearOpen in a New Window

As predicted by many economists, the Federal Reserve is indeed considering raising the Federal Funds Rate later this year, Fed Chair Janet Yellen said Friday. And if the economy improves as expected, she believes it will be “appropriate” for the Fed to raise the Federal Funds Rate this year, which in turn, would affect mortgage interest rates.

 

To Go: Title company closes mortgages on wheelsOpen in a New Window

A Detroit-area title company is offering what its president says is the area’s first mobile closing vehicle, which brings the closing process to the client instead of the other way around. While mobile mortgage closings are nothing new, this is pretty inventive.

 

Lehman Brothers suing over crisis-era toxic mortgagesOpen in a New Window

Lehman Brothers Holdings filed suit against Syncora Holdings, U.S. Bancorp and GreenPoint Mortgage Funding in an effort to try to get “duplicate” claims filed by those three companies against Lehman Brothers thrown out because Lehman Brothers is ready to settle and move on.

 

MBA analysts: April housing starts gain not an outlierOpen in a New Window

Was April’s housing starts report a one-time high watermark, or part of a longer-term trend for spring? MBA thinks it knows.

 

Credit unions applaud bipartisan reform bill on FHLB membershipOpen in a New Window

The National Association of Federal Credit Unions is lauding a bipartisan bill that would grant credit unions parity with banks under Federal Home Loan Bank membership criteria. Here’s what’s cooking.

 

Jeb Bush: Current housing and debt situation unsustainableOpen in a New Window

Presidential candidates are stepping into the national limelight as the race for the White House in 2016 edges closer, and now, finally, the topic of housing is creeping into the conversation.

 

Black Knight: Total loans in foreclosure fall to lowest level since 2008Open in a New Window

Housing in America is getting healthier, according to a new report from Black Knight Financial Services. Black Knight released its “first look” at the housing data from April, and the report shows that many indicators are trending in a positive direction for housing.

 

USPS now one step closer to providing financial servicesOpen in a New Window

The post office is now one big step closer to becoming a financial institution. A new white paper from the United State Postal Service's Office of the Inspector General lays out a series of paths for the post office to enter the banking and financial services sector.

 

Ellie Mae report shows continued transition into purchase-driven marketOpen in a New Window

As interest rates slowly tick up, purchase originations are now again outpacing refinance originations, according to a new report from Ellie Mae. Here's a look at Ellie Mae's data.
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