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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

$640 million in subprime-boom bonds coming to marketOpen in a New Window

"My sense is that this is related to general risk reduction ahead of Wednesday’s FOMC announcement, Friday’s non-farm payroll report, and month end," David Varano of Interactive Data said. "Additionally, this could also be driven by certain investors looking to test the market after it appeared to easily absorb those two massive bid lists last week in order to gauge current demand levels."

 

American Capital beats estimates by $0.19Open in a New Window

The company’s second quarter earnings were up from $0.71 in 1Q14.

 

Blackstone adviser: Investors worried about ‘serious correction’Open in a New Window

“But there are enough other positive signs that I am not altering my favorable forecast. If housing continues to be weak, I will probably have to change my view.”

 

FHFA considering plan to offer single Fannie, Freddie bondsOpen in a New Window

During his May speech at the Brookings Institute, FHFA Director Mel Watt said that adjusting the way Fannie and Freddie securitize mortgages was one of his key goals. Now it appears that the FHFA may be one step closer to accomplishing that goal.

 

Is this approach to keeping homeowners a model to fight blight?Open in a New Window

A Boston non-profit has another approach to principal reduction for troubled homeowners, and they say it’s fighting blight without involving anyone who doesn’t want to be involved, the Washington Post reports.

 

Julián Castro sworn in, spends first day as HUD SecretaryOpen in a New Window

"Julián has lived the American Dream in his own life, and I’m confident he will help Americans across our country seize their own piece of that dream for themselves and their children," President Barack Obama said when Castro was confirmed by the Senate earlier this month.

 

Moody’s rates 2014-SFR2 securitization at $322.6M in Class AOpen in a New Window

Moody's Investors Service has assigned provisional ratings to four classes of certificates backed by one floating rate loan secured by mortgages on 3,750 single family rental properties owned by the Invitation Homes 2014-SFR2 securitization.

 

Man accidentally posts naked photo in home listingOpen in a New Window

A Texas man hoping to sell his home made a big mistake while posting an image of his home online. (Safe for work.)

 

Here’s why the week ahead will make or break housing and the economyOpen in a New Window

The best directions in the world won't help you get somewhere if you don't know where you are standing. We could do without the media spin on the economy and housing.

 

The future of affordable housing is Lego houses?Open in a New Window

Affordable housing is a worldwide challenge, even here in the United States. But when you think of it, people may have been playing with – and building – the very solution to the problem for going on 80-plus years.

 

S&P: Prime jumbo RMBS advance rates nose-diveOpen in a New Window

"Bank servicers, such as Wells Fargo and JPMorgan Chase, have maintained a high (more than 90%) level of advancing on prime jumbo collateral," the analysts write. "However, nonbank servicers, such as Nationstar and Ocwen, have advance rates that are substantially lower and have been steadily declining over the past six months."

 

Deutsche Bank real estate finance veteran joins GreystoneOpen in a New Window

Greystone a leading national provider of multifamily and healthcare mortgage loans, today announced that Nikhil Kanodia has joined as a managing director.

 

Invitation Homes bringing third REO-to-rental securitization to marketOpen in a New Window

Of note in the presale report is the vacancy rate of the underlying properties, which stands at 4.4% as of the cutoff date. That’s lower than the vacancy rate in Invitation Homes’ previous SFR securitization in 2014, which was 5.1%, but still far above the vacancy rate of any of the other rental securitizations this year.

 

10 cities that got back up after the recession, and 10 still on the canvasOpen in a New Window

With Detroit’s bankruptcy trial approaching, and many other cities still struggling to recover from the Great Recession, the personal finance social network WalletHub crunched the numbers to identify 2014's Most & Least Recession-Recovered Cities.

 

DBRS: CFPB rules, tighter credit driving down mortgage originationsOpen in a New Window

Federal regulations coupled with a general shift from refinance to purchase activities have resulted in historically low volumes of mortgage loan originations, even though home prices have continued to rebound and delinquency and foreclosure rates are at their lowest levels in years.

 

KBRA rates third Invitation Homes single-family 2014-SFR2Open in a New Window

Kroll Bond Rating Agency assigns preliminary ratings to six classes of Invitation Homes 2014-SFR2 single-family rental pass-through certificates.

 

It’s official: Zillow will own TruliaOpen in a New Window

During a conference call on the deal, Rascoff said the real ad potential for the two companies, to make some serious profit, is working to move real estate marketing from offline to online.

 

Pending home sales drop 7.3% YOY on flat wages, short supplyOpen in a New Window

Pending home sales dropped off in June, according to the National Association of Realtors, dropping 1.1% from May and falling 7.3% from June 2014 in the biggest decline in 2014 and the biggest miss of expectations in 2014 as well.

 

Black Knight: Home prices tick up 0.9% in MayOpen in a New Window

Homes prices continue to trend higher and are now just 11% off the 2006 peak of $268,000. Meanwhile, Colorado and Texas both hit new peaks in May, reaching $269,000 and $195,000, respectively.

 

Shifting gears on TILA-RESPAOpen in a New Window

How much of the TILA-RESPA rule implementation have you discussed and planned for in your organization?

 

Monday Morning Cup of Coffee: Goldman's $1B FHFA settlement?Open in a New Window

Goldman is looking at a $1 billion settlement with the FHFA, Americans' household wealth has plunged 36% from 2003, and FHA fees may be a big drag on the housing economy.

 

Goldman hired for Radian Asset selloffOpen in a New Window

Radian hired Goldman Sachs to evaluate interest in its financial guaranty business Radian Asset, according to Radian. The company has been in the runoff since 2008.

 

Bank of America Merrill Lynch concludes Dodd-Frank killed housingOpen in a New Window

“In testimony to Congress on QRM, Mr. Frank noted changing the US residential mortgage market was foremost among the very purpose of the statute,” said analysts Flanagan and Katz. And change that market it did — by sucking the life out of it.

 

Mortgage insurer ratings safe despite potential FHFA rule changesOpen in a New Window

Despite the FHFA's decision to revise its private mortgage insurance requirements, Standard & Poor’s Rating Services forecasts that insurers will maintain strong ratings in the immediate term.

 

Fed releases SunTrust order over $160M mortgage penaltyOpen in a New Window

SunTrust's earnings continue to be dragged down by various mortgage settlements, resolving past foreclosure and mortgage issues. Most recently, the Federal Reserve finalized the $160 million penalty related to faulty mortgages announced back in October.

 

Here’s why the FHFA is not a fan of principal reductionOpen in a New Window

We have another woe-is-me homeowner paraded out for emotion exploitation from pro-reduction policy wonks and "if it bleeds it leads" journalists. Where is the opinion of the mortgage servicer? Or the mortgage lender?

 

Vacancies drop in Invitation Homes rental securitizationOpen in a New Window

"With initial lease expirations peaking in May and June 2014 (23.3% of all properties in the pool had leases expiring through May 2014 and 34.3% through June 2014), Morningstar expects the month-end vacancy rate to stabilize and to potentially decline," Morningstar said in its update.

 

Before you judge Dodd-Frank...Open in a New Window

Now four years old, Dodd-Frank is struggling to measure up to its original design. But according to the Urban Institute, before disregarding Ddd-Frank as a fail, understand that it is complex and difficult law.

 

Are the jumbo RMBS floodgates finally re-opening?Open in a New Window

The offering comes nearly three months after Credit Suisse launched its most recent jumbo RMBS and becomes the sixth offered by the bank since the housing recovery began. It also marks a trend of increasing jumbo RMBS offerings over the last few months.

 

S&P receives wells notice over CMBS ratingsOpen in a New Window

Commercial-mortgage backed securities Standard & Poor graded in 2011 are under question after McGraw Hill Financial said it received a notice from the U.S. Securities and Exchange Commission that the regulator may seek an enforcement action.
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