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Over Half of States are in ‘Stable’ Housing Market Range

More than half of the states plus the District of Columbia, along with more than a third of the nation's largest metro areas, were categorized as in the "stable" range in April on the strength of a healthy spring homebuying season, according to Freddie Mac's April 2015 Multi-Indicator Market Index (MiMi) released Wednesday.

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Survey Gauges Millennials Optimism about Entering Housing Market

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Millennials have become more positive when it comes purchasing their first home and are primed to gain market share in the second half of the year, based on the results of Realtor.com’s Consumer Behavior Survey. Relator.com found that 65 percent of the survey respondents indicated that they intend to buy a home within three months, up from 54 percent in January.

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Report Finds Bidding Wars are Pushing Home Values

The housing market has been seeing some noticeable changes this year as home values move upward. According to the May Zillow Real Estate Market Reports, bidding wars are pushing home values up in the nation’s most popular housing markets, although home values are not anywhere near their peak points during the real estate bubble in smaller markets.

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DocMagic Begins Testing SmartCLOSE Program for TRID Preparation

Provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, DocMagic, Inc., recently announced it has begun allowing a group of clients to test the features and functionality available within its new Collaborative Closing Portal, SmartCLOSE to prepare for upcoming TILA-RESPA Integrated Disclosure (TRID) regulation.

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CFPB Moving Proposed TRID Extension Date from October 1 to October 3

The Consumer Financial Protection Bureau (CFPB) has announced a proposed amendment to the Know Before You Owe mortgage rule, commonly known as the TILA-RESPA Integrated Disclosure (TRID) rule, which would move the effective date of the rule to Saturday, October 3, 2015. According to CFPB, the Bureau is issuing the proposed amendment to correct an "administrative error" that would have pushed the TRID effective date back at least two weeks from its original effective date of August 1, 2015.

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Carrington Mortgage Appoints Wholesale Regional Sales Manager

Carrington Mortgage Services, LLC (Carrington) recently announced in a press release the appointment of Tom O’Leary as regional sales manager for its Wholesale Lending Division. Carrington’s Wholesale operation will now run under O’Leary’s direction and remain focused on continued growth, providing expanded product offerings, and producing faster turn times to effectively meet market demands.

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Industry Reports Show Upward Trends in Home Sales and Prices

The housing market is showing no signs of slowing down as new single-family home sales in May 2015 rose 2.2 percent to a seasonally adjusted annual rate of 546,000, the highest rate since February 2008, according to new residential sales data released jointly today by the U.S. Census Bureau and HUD.

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CFPB Points Out Illegal Mortgage Activities in Supervisory Report

In order to provide transparency, reduce risks to consumers, and comply with Federal consumer financial law, the Consumer Financial Protection Bureau (CFPB) recently shared its eighth Supervisory Highlights report. The report covers the illegal practices that the Bureau uncovers in areas such as consumer reporting, debt collection, student loan servicing, mortgage origination, mortgage servicing, and fair lending for the first four months of the year.

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