The national housing market has hit bottom and is now in full recovery mode, according to Veros Real Estate Solutions, a provider of risk management and valuation services. While there remains--as always--some variance across markets, Veros predicts prices in two-thirds of all markets across the nation will either remain flat or rise over the next 12 months. This is the first time since the recession that Veros has forecast gains (or at least no declines) for such a large proportion of markets.
Read More »ALTA Publishes ‘Best Practices’ Standards for Title Insurance Industry
The American Land Title Association (ALTA), a national trade association for the land title insurance industry, released a set of Title Insurance and Settlement Company Best Practices created to help members highlight policies and procedures used to "ensure a positive and compliant real estate settlement experience."
Read More »Northstar to Enhance Mortgage Operations Via Goldome Acquisition
Northstar Bank of Texas has announced the closure of a deal that gives the company a controlling interest in Goldome Financial, Inc. Through the acquisition, Northstar, a member of Carlile Bancshares, Inc., is set to expand its treasury management product line and mortgage division.
Read More »CFPB Raises Exemption Threshold for Disclosure Act
The Consumer Financial Protection Bureau (CFPB) announced it has finalized a rule adjusting the asset-size exemption threshold for banks, savings associations, and credit unions under Regulation C, which implements the Home Mortgage Disclosure Act (HMDA). Based on the adjustments, institutions with assets of $42 million or less (as of the end of 2012) are exempt from collecting HMDA data in 2013. That exemption does not apply to data institutions are supposed to report for 2012.
Read More »Mortgage Rates Stay in Holding Pattern to Kick Off 2013
After going into free-fall for much of 2012, fixed mortgage rates started off 2013 with very slight declines.
Read More »Initial Jobless Claims Jump to 372K to End 2012
First-time claims for unemployment insurance rose 10,000 to 372,000 for the week ending December 29, the third-lowest level of the year, the Labor Department reported Thursday. Economists expected claims to increase to 363,000. The previous week's report was revised upward to 362,000 from the originally reported 350,000, an unusually large revision but reflective of intervening holidays, during which state processing offices were closed.
Read More »Survey of Economists Finds Rising Optimism for Home Prices
A survey of economists conducted by Pulsenomics and published by Zillow shows high hopes for home prices in 2013 and beyond.
Read More »Congress Approves Carol Galante as FHA Commissioner
Congress approved the appointment of Carol Galante as assistant secretary for housing and commissioner of the Federal Housing Administration (FHA). The appointment was finalized Sunday with 69-24 vote from the Senate.
Read More »Stearns Lending Appoints EVP of Strategic Development
California's Stearns Lending, Inc., is welcoming a new executive. The mortgage lender appointed James Hecht as EVP of strategic development. Hecht has more than 20 years' experience in mortgage banking sales and operations, having started as an intern and later a commissioned originator at MGIC.
Read More »Flagstar Announces Executive Leadership Changes
In Michigan, Flagstar Bancorp, Inc. (FBC), and its subsidiary, Flagstar Bank (FSB) are starting the new year with an executive leadership shakeup. Recent changes included the promotion of Alessandro DiNello to president and chief administrative officer of FSB and Matthew Kerin to president of FSB's mortgage banking unit.
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