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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

Freddie Mac: Housing growth remains stagnantOpen in a New Window

"We remain cautiously optimistic the housing recovery will continue, albeit slowly, until we see more tightening in the labor markets to give personal incomes a much-needed jolt,” Freddie Mac Chief Economist Frank Nothaft said.

 

Growth in rest of 2014 won't make up for record slump in 1QOpen in a New Window

Economic growth during the second half of 2014 likely won’t be strong enough to offset the weak activity from the first two quarters of the year, according to Fannie Mae’s Economic & Strategic Research Group.

 

Mortgage applications rise 2.4% as roller coaster continuesOpen in a New Window

Mortgage applications increased 2.4% from one week earlier, after a series of drops and a few peaks over the last few weeks, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending July 18, 2014.

 

Black Knight: Foreclosures hit lowest level since May 2008Open in a New Window

The national inventory of loans in foreclosure declined again in June, down 1.5% for the month, almost 36% for the year, making this the 26th consecutive month of declines, Black Knight Financial Services reported.

 

Google workers disturb homeowners' peaceOpen in a New Window

Google Fiber contractors are supposed to leave property in the condition they found it or better. According to local press in Kansas City, this isn't always the case.

 

Silver Bay Realty prepping $312M rental securitizationOpen in a New Window

Morningstar was the first of the ratings agencies to issue a presale report on the Silver Bay offering and awarded $147.75 million in AAA ratings to the class A tranche.

 

Homebuilders to weigh in on mixed 2Q14 earningsOpen in a New Window

Moving further into second-quarter earnings season, homebuilders are starting to release how they are measuring up in the housing industry, with D.R. Horton next on the list for Thursday morning.

 

Flagstar rebounds, posts income of $25.5M in 2Q14Open in a New Window

The company cited improved net interest income and gain on loan sales, increased mortgage rate lock commitments and loan origination volume and a continued focus on expense management as drivers of the income growth.

 

Fitch: Housing market getting ready to growOpen in a New Window

In 2015, new home sales should increase by 20.4% over 2014, according to projections from analysts from Fitch Ratings. Existing home sales are also projected to regain the 5% loss expected in 2014.

 

Credit Suisse scores again in second BlackRock RMBS saleOpen in a New Window

Credit Suisse on Tuesday won two separate bids for a combined $4.4 billion pool of legacy residential mortgage-backed securities sold by BlackRock.

 

Altisource acquires Mortgage Builder, expands technology reachOpen in a New Window

"The addition of Mortgage Builder's loan origination, servicing and electronic document management software enhances Altisource's current portfolio which provides customers with one of the most comprehensive real estate and mortgage lifecycle management platforms and services marketplaces available," William Shepro, CEO of Altisource, said.

 

Fannie Mae offers new suite of HomePath financingOpen in a New Window

In the updated selling guide, Fannie Mae announced three financing “flexibilities” for investing in Fannie Mae-owned properties. And here they are.

 

HUD audits BB&T over government-backed loansOpen in a New Window

BB&T is under the scrutiny of the U.S. Department of Housing and Urban Development while the housing authority looks into the bank's sales of government-backed loans.

 

Fannie Mae contractor Cyprexx accused of racial discriminationOpen in a New Window

"Cyprexx is required by federal law to maintain foreclosures without regard to the racial makeup of the neighborhood, but the evidence we uncovered flies in the face of that obligation," said Shanna Smith, CEO of the National Fair Housing Alliance. A Cyprexx source said the company was not made aware of any complaints and the NFHA, to his knowledge, never reached out.

 

CIT Group, OneWest Bank merge, boost capital positionOpen in a New Window

"This transformational transaction will combine CIT's national middle market lending platform with OneWest's wholesale lending and branch banking franchise to create a unique provider of retail and institutional financial services," said John Thain, chairman and CEO of OneWest.

 

Most prospective buyers don’t know real cost of ownershipOpen in a New Window

Almost half are unsure how to calculate their down payment and their monthly payment and most feel overwhelmed by the volume of information to absorb — especially those 30 and under.

 

CNBC video: Home shortage could be due to real estate agentsOpen in a New Window

Unsold inventory is 6.5% higher than a year ago, when there were 2.16 million existing homes available for sale. Could the hidden 'pocket listing' real estate market be to blame?

 

Existing home sales in June down 2.3% YOYOpen in a New Window

Existing home sales declined 2.3% in June 2014 from June 2013, reaching an annual pace of 5 million sales for the first time since October 2013, while rising inventory continues to push overall supply towards a more balanced market, according to the National Association of Realtors.

 

Freedom Mortgage originations grow despite industry pullbackOpen in a New Window

As bigger players see a contraction in originations, Freedom Mortgage is recording strong growth.

 

JPMorgan's $13B RMBS settlement progress...so farOpen in a New Window

After reaching a $13 billion agreement to settle claims regarding the sale and issuance of faulty residential mortgage-backed securities, JPMorgan Chase is now being held accountable to make sure it is staying compliant on all of the requirements.

 

Home price growth continued to cool in MayOpen in a New Window

Home prices rose just 0.4% in May from the previous month, the Federal Housing Finance Agency reported Tuesday, continuing the rapid cool down in price appreciation in the housing market.

 

Understand when TILA-RESPA tolerances can changeOpen in a New Window

There are circumstances where charges on the Loan Estimate form may change without any violations to the “tolerance” thresholds.

 

Real Estate Strategies launches low-balance mortgage solutionOpen in a New Window

Real Estate Strategies, a brokerage firm, closed the sale of more than 1,300 mortgage notes with an average unpaid balance of $75,000, with a new solution that is designed to address lower balance mortgages.

 

Alan Doran joins OneTitle as executive vice presidentOpen in a New Window

At OneTitle, Doran will oversee all underwriting, legal, fraud prevention and regulatory affairs for OneTitle and will help drive the company’s continued expansion and success.

 

Mr. Frank goes back to WashingtonOpen in a New Window

"The kind of terrible mortgage loans…the abuse of mortgage loans that hurt consumers, hurt financial institutions, and hurt the economy…we outlawed them and they haven’t been made since then," former Congressman Barney Frank said in a CNBC interview. "There have been some very real accomplishments."

 

People who live in unhappy cities get better housingOpen in a New Window

People stuck in unhappy cities get compensated in the form of better housing, or so says a new study. Considering that a large portion of New York housing is smaller than a typical Texas family room, it’s not clear what the compensation is for The Big, Unhappy Apple.

 

Judge shoots down FHFA bid to limit discovery, keep docs secretOpen in a New Window

A federal court handed Fairholme Funds a huge victory late last week, granting broad access in discovery to FHFA records going back years and reminding the FHFA that it is not above the law.

 

Is this why 3.6 million ready homeowners aren’t selling in 2014?Open in a New Window

The problem for one in three homeowners is that selling and then buying means surrendering a dynamite mortgage interest rate, which means even if the home they want to buy is about the same price, they end up paying much more per month.

 

Homeowner awarded million-dollar mortgage settlementOpen in a New Window

What's unusual is the sheer size of the settlement, which PHH Mortgage Services is fighting and other lawyers say is excessive. Lawyers for Philip Linza said the award included $514,000 in compensatory damages and $15.7 million in punitive damages.

 

BB&T profits fall on weak mortgagesOpen in a New Window

It's been a bad quarter for the bank. According to MarketWatch, the Winston-Salem, N.C.-based bank's profit fell to $425 million from $547 million a year earlier. On a per-share basis, the bank earned $0.58 compared with $0.77 a year earlier.
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