Delivering comments to a group of REO brokers and agents, Ed Delgado, president and CEO of the Five Star Institute, offered his take on how the stage is set for the mortgage sector in 2015. "There are several embedded risks in the mortgage market that pose future risk of performance that have yet to be expressed," Delgado remarked. "In effect, the market may not be recovering at the rate that we think it is."
Read More »Mortgage Rates Drop for Second Week
In its Primary Mortgage Market Survey, Freddie Mac recorded the average 30-year fixed interest rate at 3.99 percent (0.5 point) for the week ending November 20, just down from an average of 4.01 percent last week. Last year at this time, the 30-year fixed-rate mortgage (FRM) averaged 4.22 percent.
Read More »Mortgage Settlement Talks Stall Between U.S., Wells Fargo
According to a report from Bloomberg, lawyers for both sides told a judge on Tuesday they’re doubtful about the chances of reaching an agreement on a suit alleging the bank fraudulently submitted loans for insurance through the Federal Housing Administration (FHA).
Read More »FDIC Unveils Technical Assistance Videos for Mortgage Rules
In an announcement Wednesday, FDIC introduced the first in what the agency says will be a series of technical assistance videos developed in the wake of this year's mortgage regulations handed down from the Consumer Financial Protection Bureau (CFPB).
Read More »Forecast: Economic Growth to Help Housing in 2015
In Freddie Mac's latest Economic and Housing Market Outlook for the United States, the company's economists turn their attention away from 2014—a mixed year for housing, especially compared to 2013—and toward 2015, which they say will see continued strengthening in the market for home purchase mortgages as the economy improves on a broad basis.
Read More »Report Breaks Down Labor Force Hurdles
A report released recently by the Pew Research Center indicates that while the U.S. unemployment rate is low, the number of people who are "not in the labor force," meaning they are not counted among the unemployed in the BLS survey, is near an all-time high.
Read More »CoreLogic Launches Servicing Compliance Solution
In California, CoreLogic has launched a new compliance solution designed to offer servicers a more comprehensive way to analyze their mortgage portfolios.
Read More »Consumer Sentiment Beats Forecasts in Early November Reading
The Thomson Reuters/University of Michigan Index of Consumer Sentiment registered 89.4 in a mid-month reading, the best showing since July 2007. Economists had forecast the measure would hit 87.5, with some predicting as high as 89.
Read More »LRES Partners with Reverse Mortgage Services Provider
As a result the recent integration, LRES' DirectConnect hub is now able to deliver collateral valuation reports to users of Bay Docs' Reverse Express loan origination system, offering customers full valuation lifecycle management.
Read More »California Lender to Pay $730K Over Alleged Mortgage Steering
The Consumer Financial Protection Bureau (CFPB) ordered California-based mortgage lender Franklin Loan Corporation to pay $730,000 in restitution for rewarding its employees with bonuses for suggesting loans with higher interest rates to borrowers.
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