Tag Archives: Lenders & Servicers

The Senate Banking Committee has voted to approve Janet Yellen's nomination to chair the Federal Reserve, bringing Yellen one step closer to being the first woman to serve as head of the country's central bank.

The Consumer Financial Protection Bureau issued on Wednesday a rule requiring lenders to use its new mortgage disclosure templates designed to streamline and simplify information for consumers. The forms will replace the standard disclosures given at the opening and closing stages of a loan. Testing the new templates against the old, the CFPB found borrowers using the updated forms showed a better understanding of their loan, demonstrating a 29 percent improvement in comprehension.

In Texas, Wingspan Portfolio Advisors named industry veteran Susan Pettem to the newly created position of EVP for business development.

October saw existing-home sales decline for the second straight month as low inventory propped up prices, the National Association of Realtors (NAR) reported Wednesday. Total existing-home sales fell 3.2 percent in October, coming out to an adjusted annual rate of 5.12 million. "The erosion in buying power is dampening home sales," said NAR chief economist Lawrence Yun. "Moreover, low inventory is holding back sales while at the same time pushing up home prices in most of the country."

Next year will likely be the first year since 2000 that home purchases outpace refinances, according to Freddie Mac's expectations.

Velocify, a provider of cloud-based intelligent sales automation software headquartered in California, announced it has published a free e-book designed to help mortgage originators increase sales.

Mortgage application volume declined once again for the week ending November 15, the Mortgage Bankers Association (MBA) reported in its Weekly Mortgage Applications Survey.

A new report published by the Opportunity Agenda, National Fair Housing Alliance, and the National Association of Real Estate Brokers (NAREB) claims that the U.S. housing policy is broken.

After weeks of speculation from market watchers and analysts, JPMorgan Chase announced it has finalized a $ 13 billion deal with the Justice Department.

Secondary market professionals have a new way to connect with potential buyers and sellers: LendTrade, a recently launched community for trading professionals designed to cut out the middleman and save costs.