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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

Homeownership rate drops to 48-year lowOpen in a New Window

The homeownership rate in the United States in the second quarter declined to 63.4%, the lowest it has been since 1967. Should we be worried?

 

Key housing, mortgage finance bills facing markup in HouseOpen in a New Window

A number of bills critical to the housing and mortgage finance industry are under the spotlight today in the House, including limits on regulators, a TRID grace period, a cap on the salaries for the CEOs at Fannie and Freddie.

 

Case-Shiller: Home prices continue rising in May but stall on monthly basisOpen in a New Window

Home prices continued their rise across the country over the last 12 months, according to the S&P/Case-Shiller Home Price Indices for May 2015. But first-time buyers still aren’t going all in, and May's monthly drop was the biggest since July 2014. What’s the problem?

 

The two biggest challenges plaguing the appraisal industryOpen in a New Window

There are two major challenges that the appraisal industry is dealing with. In an interview with HousingWire, Scott Pickell, vice president and chief appraiser at LRES, discussed recent hurdles appraisers are facing, focusing on compliance and new appraisers.

 

Here are 3 technology needs of smaller companies managing REO assetsOpen in a New Window

After the foreclosure crisis, most of the industry focused on the larger companies, which is still true today. However, there are three needs that smaller companies have that larger ones usually do not. Here are those three.

 

Mortgage trades join to urge formal TRID hold-harmless periodOpen in a New Window

More than 20 real estate industry trade groups joined together Monday in support of HR 3192, the Homebuyer Assistance Act, which will provide a hold-harmless period for enforcement of TRID for those that make good-faith efforts to comply.

 

NY state senator convicted in foreclosure embezzlement schemeOpen in a New Window

New York State Senator John Sampson, D-Brooklyn, was convicted by a federal jury for one count of obstruction of justice and two counts of making false statements to federal agents related to his practice of embezzling foreclosure funds.

 

Auction.com: Existing-home sales continue surge in JulyOpen in a New Window

Guess what? The good times aren't over yet. Existing-home sales in July are expected to continue their upsurge, according to Auction.com’s July Real Estate Nowcast. And prices are expected to hit a new record...again.

 

New Hampshire Supreme Court acknowledges MERS’ role under state lawOpen in a New Window

MERS strikes again. The Supreme Court of New Hampshire ruled in favor of New York Community Bank, finding that as assignee of MERS, it was authorized to foreclose.

 

NAFCU urges the FHFA to leave the conforming loan limit aloneOpen in a New Window

The National Association of Federal Credit Unions is urging the Federal Housing Finance Agency to keep the conforming loan limit at its current level and not drop it below the current baseline rate of $417,000 because the market isn't strong enough yet. What do you think?

 

Scammer gets five years in prison for selling fraudulent ‘TARP-owned’ foreclosuresOpen in a New Window

A California man will spend the next five-plus years in federal prison for presenting himself as a representative of the government and leading a scheme that sold what he fraudulently claimed were “TARP-owned” properties to individuals.

 

HomeUnion continues to expandOpen in a New Window

HomeUnion announced another expansion, adding five major metros into its list of active investment markets. As the rental market continues to grow, Don Ganguly, CEO of HomeUnion, said that he sees high profit for the single-family rental market.

 

Bank of America CFO’s exit reportedly linked to desire to lead companyOpen in a New Window

Bank of America shocked the market a bit last week, when it announced the departure of Bruce Thompson, the bank’s chief financial officer and chief risk officer, without a great deal of explanation as to why Thompson was leaving. Now, a Reuters report sheds some light onto the supposed reason that Thompson is stepping down.

 

Castle & Cooke partners with Optimal BlueOpen in a New Window

Optimal Blue, a cloud-based provider of managed-content, pricing and product eligibility, secondary marketing, consumer engagement, data and analytics, and compliance services, announced a partnership to provide a pricing engine for Castle & Cooke’s new mortgage origination system.

 

Weiss Residential: Here's where the next housing crash will startOpen in a New Window

Weiss says its data shows where the next housing crash will start and what kind of homes — right down to the age, size and price, will be affected. Are we already in trouble?

 

Black Knight: Home prices approach pre-crisis peakOpen in a New Window

Black Knight’s latest Home Price Index report, based on May 2015 residential real estate transactions, showed that the U.S. HPI is now just 6.5% off the June 2006 peak of $268,000, and up over 25% from the market’s bottom.

 

Monday Morning Cup of Coffee: Mortgage lenders "routing" homebuyers to FHA?Open in a New Window

Lower credit scores are leading to higher mortgage costs, according to an article in the Seattle Times. There is a new opinion, separate from the many who view last month’s Supreme Court decision on "disparate impact" as a negative. Also, it’s time for the massive nonbanks to start weighing in with their earnings.

 

Small Texas bank winning big fight against CFPBOpen in a New Window

A small Texas bank was handed a large victory this week, when a federal court ruled that the bank is allowed to challenge the constitutionality and authority of the Consumer Financial Protection Bureau. Here are all the details.

 

Bank of America senior management shakeup continuesOpen in a New Window

The senior management shakeup at Bank of America is continuing. According to multiple reports, Bank of America is interviewing “possible successors” for Gary Lynch, who serves as the bank’s global general counsel.

 

Mortgage lenders circle remains of Discover Home LoansOpen in a New Window

Before Discover Home Loans has even shut its doors, lenders are already said to be vying to acquire its remains. The company will accept its final loan application at the end of July.

 

Massive pay hikes for Fannie, Freddie CEOs fall under Congressional scrutinyOpen in a New Window

A bill that would suspend the $3 million pay raises recently awarded to the CEOs of Fannie Mae and Freddie Mac is one step closer to becoming law, as the Equity in Government Compensation Act of 2015 is set for markup next week.

 

Village now charges real estate agents to display "for sale" signsOpen in a New Window

A village just north of Albuquerque, New Mexico shocked real estate agents this week when they hung black plastic bags over 35 “For Sale” in an effort to finally enforce a local ordinance.

 

NAMB to Congress: New TRID forms should disclose g-fee costsOpen in a New Window

The Association of Mortgage Professionals says the Consumer Financial Protection Bureau’s new Know Before You Owe mortgage disclosure rule, also called the TILA-RESPA Integrated Disclosures rule, doesn’t disclose enough and says homebuyers are entitled to know where all the money they pay to buy a home is going.

 

This MBA chart shows the real rise of home pricesOpen in a New Window

In the latest chart from the Mortgage Bankers Association’s chart series, the MBA put into perspective just how much the Federal Housing Finance Agency’s U.S. Purchase-only House Price Index has risen.

 

New home sales fall 6.8% from MayOpen in a New Window

Sales of new single-family houses in June 2015 retreated back down and were at a seasonally adjusted annual rate of 482,000, a 6.8% drop from May’s revised rate of 517,000.

 

Freddie Mac launching new risk-sharing deal structure: The cash securitizationOpen in a New Window

Freddie Mac is bringing another mechanism for sharing its credit risk to market – one that hasn’t been seen much since the crisis – a cash securitization. Here are all the details.

 

CoreLogic 2Q revenue hits $386M, misses expectationsOpen in a New Window

CoreLogic’s second-quarter revenue jumped 5.5% from prior-year levels thanks to higher U.S. mortgage origination volumes, market share gains in core underwriting solutions and demand for property data and analytics.

 

Veros connects Sapphire to FHA electronic appraisal portalOpen in a New Window

Veros Real Estate Solutions' web-based, residential collateral valuation management platform, Sapphire, now offers a direct connection to the Federal Housing Administration Electronic Appraisal Delivery portal.

 

Stewart exiting delinquent loan servicing businessOpen in a New Window

Citing shrinking revenue caused by a shrinking number of delinquent loans, Stewart Information Services Corporation announced Thursday that it intends to end its delinquent loan servicing business by the end of 2015.

 

Bank of America shakes up senior managementOpen in a New Window

Despite seeing a $3 billion jump in its net income in the second quarter, Bank of America is shaking up its senior management, replacing Bruce Thompson, the bank’s chief financial officer and chief risk officer, and making other moves.
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