News

Around 40,000 American veterans are homeless, and the country is starting to take notice. Lawmakers are crafting bills to spur change from the ground up, while organizations across the nation are hosting events to do their part. The Five Star Institute’s Military Heroes Keys for Life event is one such event.

Black Knight Financial Services launched its Municipal Lien Search solution Wednesday to help uncover property debts and reduce risk associated with liens not included on property reports or outside of the scope of title insurance coverage. County debts; code and force violations; waste, water, ...

Asurity Technologies, an enterprise formed to provide the financial services industry with RegTech solutions, announced its formation as an entity bringing together Treliant Solutions, LLC, Risk Management Solutions, Inc., and Mortgage Resources Group, LLC into an integrated compliance platform. According to Asurity, this platform will allow lenders to establish compliance, proactively manage a fair lending and redlining risk, and submit for both HDMA and CRA.

New data shows San Jose, California, homebuyers enjoy the fastest closing times in the nation, with an average of just 41 days to close. Six other cities came in at 50 days or less, including Dallas, San Francisco, and Denver. These markets are seeing multiple bidders, many of whom are pre-qualified and offer large down payments, on the first day of listing.

The rate of homeowners in the U.S. has reached a historic low. Many question if the largest living generation, millennials, will purchase homes at similar rates to previous generations. Apartment List’s annual renter survey included input from 24,000 millennials, which they analyzed to better understand millennial homeownership plans.

As previously predicted, mortgage rates reacted to the recent drop in the Treasury yield, falling this week to a 2017 low. However, these low rates may soon bounce back, with 30 percent of mortgage professionals polled predicting that next week will see a rise in rates. For now, the industry is experiencing an increase in loan applications as applicants move to take advantage of the favorable market.

The Federal Housing Finance Agency (FHFA) is looking to the public for input regarding Limited English Proficiency (LEP) in the mortgage lifecycle. LEF borrowers currently face challenges applying for mortgages because they risk not understanding or relying too much on a source that could mislead them. FHFA looks to better understand the experience LEP borrowers have in order to improve support from the mortgage industry.

New data shows that real home prices have risen almost 12 percent over the year. Though wages have risen, increasing mortgage rates and tight supply continue to hurt overall affordability. Jacksonville, Florida, came in as the least affordable metro in the nation.

In July, liens and judgments data will no longer be included in traditional credit scores. In order to fill that gap, CBCInnovis will be offering the LexisNexis RiskView Liens and Judgments Report to lenders. Being that borrowers who have a judgment or tax lien are more likely to end up in pre-foreclosure or foreclosure, CBCInnovis hopes this information will be helpful to lenders.

Factual Data announced Thursday that they will be offering the LexisNexis RiskView Liens & Judgments Report to lenders. Due to liens and judgments data being discontinued in traditional credit scores, Factual Data intends to bridge the gap. Mortgage lenders, who have relied on this data for over two decades, now have an alternative plan after the July cutoff.