News

In an address about the economic outlook in the United States and monetary policy at the Economic Club of New York this week, New York Fed President and CEO Bill Dudley praised the progress housing has made during the economic recovery but refused to offer his views on whether the Fed would raise the short-term interest rate in December.

The Compliance Group, Inc., (TCG), a mortgage compliance and quality control services provider, has announced the hiring of Michelle Doyle as its new Director of Quality Control. Based in Carlsbad, California, TCG focuses on the compliance success of its clients, assisting financial institutions in mitigating risk and losses with its proprietary, patent-pending technology, and its core business solutions of compliance, quality control, and licensing.

Alliant National Title Insurance Company, a title insurance underwriter that partners with Independent Agents to improve their competitive position in the marketplace, announced that the company has hired Elyce Schweitzer as their new Regulatory Compliance Officer and VP.

As a sign that the housing market is returning to normal, sellers are more likely to be selling their homes due to life-cycle motivators like upgrading or downsizing rather than securing a home before interest rates are adjusted by the Federal Reserve.

A statement filed with the Securities and Exchange Commission on Tuesday showed that loanDepot was planning to offer 26.4 million shares of its common stock on Friday, valued at $16 to $18 per share. The move was expected to raise $475 million for the company, which was to be valued at $2.6 billion.

The stormy days of the housing meltdown may have passed, but is it all calm waters ahead? The industry’s top economists foresee some unpredictable tides as 2016 approaches. Editor's note: This select print feature appears in the November 2015 edition of MReport magazine, available now.

Commentary is an ongoing series on theMReport.com that focuses on opinions, ideas, and insights from experts across mortgage banking. We all have read the results from the CFPB eClosing pilot and can all see the tremendous benefits of eClosing. However, many lenders will get it wrong on their first attempt. Mark McElroy, President and CEO of Pavaso, Inc., says that the reason for this is short-sighted approaches based poor assumptions.

Nationstar Mortgage has agreed to pay $77 million to settle class-action suits filed by homeowners over the alleged inflating of homeowner insurance rates.

A pair of former advisors to the Clinton and Obama administrations recently laid out plans to bring the contentious “recap and release” proposal to recapitalize the GSEs and release them from government conservatorship to reality.

Increases in existing-home sales and short supplies of inventory pushed home prices up in most metro areas across the nation in the third quarter, the National Association of Realtors found in it latest quarterly report.