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Tag Archives: Lender Processing Services

Jim Leath Joins Altisource as VP of Enterprise Sales and Business Development

Altisource Portfolio Solutions S.A. recently announced in a press release. that Jim Leath has joined the company as the VP of enterprise sales and business development for all of the company’s services. Altisource provides mortgage, financial, and technology services for the real estate industry. They also provide marketplace and transaction solutions for the real estate, mortgage, and consumer debt industries offering both distribution and content.

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Loans Originated Last Year Show Record Performance

Loans originated last year are the best-performing mortgage loans on record, according to the November Mortgage Monitor released Tuesday by Black Knight Financial Services (formerly Lender Processing Services). The Monitor also found a significant increase in non-agency loans, a sign that the market might be ready for more risk. Non-agency, first-lien, prime, jumbo loans have increased 75 percent over the year in November, according to Black Knight.

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Home Prices See Meager Growth in Alternate October Index

Lender Processing Services' (LPS) monthly Home Price Index--released a day before the Case-Shiller figures--climbed to $232,000 in October, putting prices about 8.2 percent higher than they were at the start of 2013. Annually, LPS' index was up approximately 8.8 percent, a minor increase compared to the annual improvement in the Case-Shiller index. Monthly, gains came to about 0.1 percent, also down relative to the Case-Shiller report.

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As Negative Equity Recedes, HELOC Worries Come to Light


While the nation's negative equity rate continues to diminish--falling an estimated 7.4 percentage points since the start of the year through October--Lender Processing Services (LPS) says a new threat looms in the form of home equity loans. According to LPS' data, the average credit score for a borrower with a home equity line of credit (HELOC) originated in 2007 has fallen about 20 points since then, posing a threat to lenders who "are often on the hook for almost all of 2nd lien losses."

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Home Prices Rise 0.2% in September, Still 14% Below Peak

National home prices rose 0.2 percent over the month in September, reaching $232,000 for the month, according to Lender Processing Services' (LPS) Home Price Index, which was released Monday. Year-over-year prices rose 9 percent in September, according to LPS. Nevada and Connecticut posted the greatest price changes over the month--though in opposite directions. Home prices in Nevada jumped 0.8 percent over the month, while prices in Connecticut fell 0.9 percent.

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LPS Executive Named to MBA Board


Bill Griffin, EVP at Lender Processing Services (LPS), has been elected to serve on the Mortgage Bankers Association's (MBA) board of directors, the company announced.

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LPS Price Index Inches Up in August

Home prices continue to rise, albeit with some dampening due to seasonal impacts. However, prices are still appreciating faster than last year, according to Lender Processing Services' (LPS) Home Price Index report for August. LPS calculated a 0.4 percent monthly home price increase in August and a 9 percent annual rise. Both calculations are lower than the S&P Case-Shiller Home Price Indices, which calculated a 1.3 percent monthly increase and a 12.8 percent annual increase.

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Mortgage Rate Hikes Drain Pool of ‘Refinancible’ Loans

According to Lender Processing Services' data, the monthly prepayment rate--historically a good indicator of refinance activity--has dipped more than 30 percent in the months since May, with mortgage interest rates climbing nearly 100 basis points in that same time. As a result of those shifts, the percentage of borrowers in loans with interest rates high enough for refinancing to make sense has dropped significantly, says Herb Blecher, SVP for the technology and analytics firm.

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Price Growth Slows as Some Markets Top Pre-Crash Peaks

Home price increases slowed on a monthly basis in July as more markets approach their pre-crash peaks, Lender Processing Services (LPS) reported in its monthly Home Price Index (HPI) report. Nationally, LPS' index was up to $231,000 in July, a 0.6 percent gain over June. Compared to last year, July's index was up 8.7 percent. Meanwhile, several of the largest metros across the United States--including many of Texas' bigger cities--continue to outperform their pre-recession highs.

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