Home >> Tag Archives: Lenders & Servicers (page 11)

Tag Archives: Lenders & Servicers

Recovery Expected to Enter ‘Middle Innings’ in 2014

While the housing market is still far from normal, it is inching that way, according to a report released Thursday from Zillow. Last year's skyrocketing home price appreciation, frenzied demand from investors, and high tide of negative equity are all expected to subside somewhat this year, according to the real estate company. In fact, some of the markets that posted the highest price gains in 2013 are already slowing, a welcome sign for those that were at risk of crossing into "bubble territory."

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Total Mortgage Rebrands Wholesale Division

In Connecticut, Total Mortgage Services' wholesale division is relaunching with a re-energized focus--and a brand new name, the company announced. Formerly known as TMS Funding, the division is now operating as Total Mortgage Wholesale.

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Refinances Push Up Application Volume

application

According to the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey, loan application volume rose 4.7 percent (seasonally adjusted) for the week ending January 17. The overall increase came entirely from a continued recovery in refinance numbers. The survey's Refinance Index was up 10 percent week-over-week, with refinance share accounting for 64 percent of total applications, the highest level in a month. Meanwhile, the seasonally adjusted Purchase Index dropped 4 percent compared to the prior week.

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Wells Fargo, Ocwen Announce Deal on $39B MSR Portfolio

Ocwen's servicing segment is set to acquire mortgage servicing rights (MSRs) on a $39 billion portfolio from Wells Fargo, the two companies announced Wednesday. According to the dual releases, the portfolio consists of approximately 184,000 loans and accounted for about 2 percent of Wells Fargo's total residential servicing portfolio as of the end of 2013. The companies expect the transaction to close by the end of this year. Financial details were not disclosed.

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Industry Experts Discuss QM Pitfalls

While the Consumer Financial Protection Bureau (CFPB) touts its recently enacted mortgage regulations as a "back-to-basics approach" to lending, not everyone agrees. Speaking on "Mortgage Markets Today," Chris Whalen, EVP and managing director for Carrington Holding Company, discussed the pitfalls in the new regulations with Louis Amaya, host of the Five Star Internet radio show and CEO of iServe Companies. Among other things, Whalen predicts politicians and regulators will see pressure to review the rules, which he says have gone too far.

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Stats Indicate Strong Prices, Steady Demand Going into 2014

Despite the numerous challenges that sprang up throughout 2013, the housing market still managed to finish the year in a healthier position than in 2012, according to the latest figures from Realtor.com. The site's statistics for December indicate the median national list price ended 2013 at $194,500, up 8.1 percent compared to the end of 2012. Relative to November, however, prices were down 1.6 percent--marking the late arrival of the "usual seasonal winter slow down," Realtor.com says.

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