Home >> News (page 1164)

News

Obama Bumps Warren, Taps Cordray for CFPB

President Barack Obama announced Sunday that he would withdraw Treasury Department advisor Elizabeth Warren for the top post at the Consumer Financial Protection Bureau and replace her with Richard Cordray.

Read More »

Closing Will Cost You in New York

The numbers are in, and New York tops the list of states boasting the highest mortgage closing costs nationwide. The results of the Bankrate, Inc. survey demonstrate New York├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós dubious dominance in closing fees for the second straight year. Other high-cost areas rounding out the top five? Texas, Utah, San Francisco, and Idaho. Nationally, the total cost of origination and title fees has risen since last year by 8.8 percent, to an average cost of $4,070 on a $200,000 mortgage.

Read More »

JPMorgan to Slash $154B Mortgage Portfolio

On Thursday news reports confirmed that mortgage giant JPMorgan plans to scale back a $154 billion mortgage portfolio to a bare minimum on its balance sheets, even as it battles through continuing mortgage losses, multiple suits and settlements over past loan-servicing practices.

Read More »

Federal Office Closure Could Harm Atlanta Real Estate

A report published by turnaround management firm Anderson Bauman Tourtellot Vos found that a recent move by the Obama administration to clear office space in Atlanta could strangle the city's still-recovering commercial real estate sector, potentially throwing back markets in a state with the fifth-largest amount of government real estate outside of Washington, D.C. The firm fears that a reduction in government-owned property will also crimp employment.

Read More »

Housing Analysts Jittery About Debt Default Scenario

Fueling fears about a federal default scenario, fragile debt-ceiling negotiations continued to splinter and stagnate this week, with Republicans refusing to budge on proposed tax increases and Democrats fighting to keep entitlements off the chopping block. If trends continue and the federal government defaults on its national debt, housing economists and mortgage rate analysts predict spikes in interest and mortgage rates, with steep and potentially catastrophic declines in homes sales.

Read More »

Capital Economics: Seasonal Uplift Raises Prices

A monthly update from Capital Economics holds that small upticks in home prices and sales reflect anomalous behavior in the market, thanks in part to a generous seasonal uplift. The report predicts continued falls in home sales.

Read More »

WFG National Adds Two

According to an announcement made Tuesday, WFG National Title Insurance hailed move-ups by two to its Louisiana agency division. Stephen Sklamba and Liz Pecoraro will take on new roles as VP and underwriting counsel and state sales manager, respectively. Stephen and Liz are well-established and highly regarded by a wide number of independent agencies in Louisiana, Charles Cain, SVP and agency manager, their new boss, said in a statement.

Read More »

Global Kinex Appraisal Tech Moves Up

In a statement released Thursday, Global DMS announced that the Uniform Collateral Data Portal would now offer its appraisal process management software to lenders and appraisal companies.

Read More »

Companies Eye RMBS, Signaling Comeback

If two companies have their way, residential mortgage-backed securities may make a comeback. BlackRock Inc. and Two Harbors Investment Corporation said they may make a return to AA bond ratings.

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.