Housing market watchers have been waiting to see what will happen in parts of the U.S. with heavy oil-related employment, according to CoreLogic’s report on their Insights Blog titled “Housing Market Strength in Oil Metros, Equity Position of Texas Oil Metros is Strong.” Between the fall of 2014 and this spring, oil prices fell 42 percent causing those who consistently monitor the housing market to wonder about the effect that this will have on the real estate industry.
Read More »Existing-Home Sales Reach Highest Peak in Six Years and Expected to Keep Rising
As first-time buyers return to the housing market, the total number of existing-home sales saw the largest increase in May than it has in nearly six years, according to a report by the National Association of Realtors (NAR). May home sales experienced a growth spurt following April's decline and are now at their highest pace since November 2009.
Read More »BSI Financial Aims to Expand Management by Recruiting Three New Executives
BSI Financial Services (BSI Financial) recently announced three new appointments to its management team so that the company can prepare for growth in its core servicing and related business lines. John Lawrence assumes the position of EVP and Chief Servicing Officer, Akshay Singh is named Managing Director for Strategy and Corporate Development, and Michael Whitfield is also named VP for Loan Administration.
Read More »Alliant Hires New Florida Underwriting Counsel and VP
Alliant National Title Insurance Company, a title insurance underwriter that partners with Independent Agents to improve their competitive position in the marketplace, recently announced in a press release the hiring of Brenda J. Cannon, Esq. to the position of Florida Underwriting Counsel and VP.
Read More »Industry Anxiously Awaits Disparate Impact Ruling
With word the highly anticipated disparate impact ruling expected to come forth by the end of June, industry leaders cannot help but grow increasingly curious regarding this Supreme Court case. The Supreme Court heard the case of Texas Department of Housing and Community Affairs, et al. (Texas) v. Inclusive Communities Project, Inc. (IC) on January 21 and have yet to make a decision on this case.
Read More »CFPB Investigates Mortgage Rate Compression Tool
As a warning to mortgage industry lenders, the Consumer Financial Protection Bureau (CFPB) is investigating Bankrate’s mortgage rate comparison tool on Bankrate.com. Bankrate discussed the CFPB investigation in a recent Securities and Exchange Commission (SEC) filing.
Read More »Mortgage Companies Weigh-In on Proposed Delay of TRID Deadline
Upon the announcement, many lenders, servicers, and other industry members weighted in with their feedback in interviews with MReport, with many expressing their gratitude and detailing the company adjustments they plan to initiate if the proposal is approved.
Read More »Freddie Mac Mortgage Rates Normalize After Last Week’s Jump
In Freddie Mac’s most recent Primary Mortgage Market Survey (PMMS) the rates for average fixed mortgages dropped from last week’s unusual high. The Government-Sponsored Enterprise reported that the 30-year fixed rate mortgage (FRM) averaged 4.0 percent with an average 0.7 point for the week ending June 18, 2015.
Read More »Monthly Home Sales for May 2015 Reach Highest Level since 2008
Home sales in May were greater than in any other May since 2008, while home prices continued to rise, according to the RE/MAX National Housing Report. Sales are on a four-month trend in which they were higher than both the previous month and the same month in the previous year.
Read More »Ginnie Mae to Reform Document Custody Policies and Management
Today, Ginnie Mae announced its plans to thoroughly update program requirements and infrastructure in relation to loan documents that serve as collateral for securitized pools of loans.
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