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North Miami Mayor Indicted in Mortgage Fraud Scheme

A mayor in the Miami area has been suspended by Florida Gov. Rick Scott following a federal indictment alleging mortgage fraud. According to a report from the Miami Herald, North Miami Mayor Lucie Tondreau was suspended Tuesday after appearing in court to face charges related to her role in an $8 million fraud scheme.

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CitiMortgage CEO Hints at Plans to Expand Lending

In remarks captured by Bloomberg at the Mortgage Bankers Association's National Secondary Market Conference in New York, CitiMortgage CEO Jane Fraser said the company is seeking out ways to step up its presence in the mortgage market, focusing largely on the "very important" correspondent segment as other banks struggle against waning loan demand and a stringent credit environment.

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Fannie Trims Growth Forecast in Wake of Q1 Disappointment

To its credit, Fannie Mae did not expect soaring growth in the 2014 housing market in the first place. But even its hopes for modest growth have cooled as the lingering effects of a harsh winter and a combination of reduced affordability and consumer reticence regarding mortgages weigh down the national housing market.

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Linear Title & Closing Names COO

Linear Title & Closing, a national title insurance and settlement services provider operating out of Rhode Island, appointed Nathan Chandler as COO, effective immediately.

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Mortgage Apps Up 0.9% as Interest Rates Slide

The refinance side of the mortgage market saw yet another pickup in application activity in mid-May, boosting total volumes for the third straight week. Mike Fratantoni, MBA's chief economist, said the recent downward trend in mortgage rates—which hit a six-month low last week—has helped push up demand for loans.

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The Supply and Demand of Housing

As housing metrics continue to take unexpected turns, it’s become clear by now that the current recovery has functioned unlike any other. In the company's latest Economic & Housing Market Outlook, economists Frank Nothaft and Leonard Kiefer at Freddie Mac took a look at three fundamental areas—mortgage rates, home sales, and household formations—to figure out why.

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Cordray: Student Debts Undermining Housing

Speaking before an audience in Boulder, Colorado, Consumer Financial Protection Bureau (CFPB) Richard Cordray addressed the growing amount of student loan debt—$1.2 trillion and counting—and how it will have negative ramifications on the housing market in the future.

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New York Reg to Expand Probe into Non-Bank Practices

The New York regulator who earlier this year launched a probe into the practices of non-bank mortgage servicers revealed Tuesday he plans to expand his investigations. Delivering remarks at the Mortgage Bankers Association' 2014 National Secondary Market Conference, Superintendent Benjamin Lawsky of New York's Department of Financial Services said the agency plans to dig into fee-based ancillary services at non-banks such as Ocwen and Nationstar.

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April Signs Point to Cooler Summer than Last Year

Following a release from Redfin indicating mixed strength in April’s housing segment, RE/MAX has issued its own monthly report, echoing the theme of a cooling market compared to the last few years. "While sales and prices aren't growing at the rate they did last year, we still remain in a recovery with the market settling into a more sustainable growth pattern," said CEO Margaret Kelly.

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