Home >> News >> Origination (page 490)

Origination

MISMO Appoints New Board Member

On Tuesday the nonprofit data subsidiary of the Mortgage Bankers Association (MBA), MISMO, announced the appointment of senior executive Gabe Minton to a seat on its six-member board of directors. Gabe will provide excellent leadership for MISMO as it drives the development of technology standards for both the residential and commercial real estate finance industries, Michael D.

Read More »

FHFA: House Prices Up in April

On Tuesday the Federal Housing Finance Agency reported a slight 0.8 percent rise in home prices from March to April, representing a positive note in a brittle housing market.

Read More »

Headless CFPB Prepares for Launch

Despite gridlock in the confirmation process for its embattled nominee, news reports put the Consumer Financial Protection Bureau on schedule to launch formal operations and ready to begin policing Wall Street in July, with or without the director that Senate Republicans vow to obstruct. With its management team and staff already in place, a broad array of powers sanctioned by the Dodd-Frank Act will empower the consumer protection bureau to issue new rules for over 100 banks with more than $10 billion in assets.

Read More »

House Republicans Propose Kneecapping CFPB

Firing another salvo at the new Dodd-Frank regulatory regime, House Republicans submitted an appropriations bill last week that proposes slashing $350 million from the Consumer Financial Protection Bureau's budget for 2012. Released by the House Committee on Appropriations, the bill offers to cap funding for the CFPB at $200 million, keeping to a minimum the sweeping powers that Dodd-Frank invested in the new regulatory agency. Provisions also threatened to kneecap the Obama administration's 2011 fiscal year budget.

Read More »

Tech it Out: New Appraisal Compliance Partnership Announced

Tech leaders a la mode and CoreLogic are teaming up. CoreLogic├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós ValuEdge platform will now connect with a la mode├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós Mercury Network to facilitate ValuEdge's Native XML appraisal data. CoreLogic's ValuEdge software targets streamlined appraisal process compliance, and the integrated plugin with a la mode will provide CoreLogic with additional quality control elements and advanced bundling for all reports.

Read More »

California Real Estate Down During May

May housing numbers are in for the state of California and numbers look grim. The survey, conducted by the California Assoc. of Realtors, credits the struggling economy and stringent lending standards for the decline.

Read More »

Six-Month Delay for Dodd-Frank

The Commodity Futures Trading Commission has issued a six-month delay for the finalization of rules and regulations in sync with the Dodd-Frank Act, temporarily checking a host of new requirements that analysts fear will distress the derivatives, financial, and mortgage banking markets. The Federal Reserve, FDIC, and the Office of the Comptroller of Currency fell behind schedule in the lead-up to Dodd-Frank's implementation phase, which goes into effect on July 16 despite that over half of the required 387 provisions need writing.

Read More »

MBA: Mortgage Apps Jump as Low Rates Draw Consumers

Representing a nudge in the right direction for the origination market, the Mortgage Bankers Association (MBA) reported a 13 percent swell in home loan applications submitted last week, up from the record low reported just one week earlier. It was the biggest gain recorded in three months. Michael Fratantoni, MBA's VP of research and economics, says low rates are driving consumers back to loans. Rates have dropped over eight of the last nine weeks - a primary driver for homeowners looking to refinance. MBA's Refinance Index jumped 16.5 percent.

Read More »

Franchise Program Allows Brokers to Stay in Business

The innovative franchise system launched by a mortgage company may enable mortgage brokers to go into business for themselves and earn additional compensation in an industry recently beset by tough new compensation rules. LenderCity, a Missouri-based company, recently announced its completion of a Uniform Franchise Disclosure Document (UFDD), which will allow licensed brokers running businesses to retain their financial independence and access back-end services without losing their identities.

Read More »

The Economic Link: Job Creation = Home Price Increases

The health of the labor market has a far-reaching impact on many areas of housing. When the economy is growing and the number of employed rises, so do home sales and mortgage originations. According to the research firm Hanley Wood Market Intelligence, there's also a definitive link between employment and home prices. The firm's analysts examined metro area job data juxtaposed with price trends for new homes, and their conclusions illustrate that jobs and housing "are joined at the hip."

Read More »

GET THE NEWS YOU NEED, WHEN YOU NEED IT.

With daily content from MReport, you’ll never miss another important headline in originations, lending, or servicing. Subscribe to MDaily to begin receiving a complimentary daily email containing the top mortgage news and market information.