Tag Archives: Processing

Oregon's senior citizens with reverse mortgages will no longer be eligible for the state├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós tax deferral program. The initiative recently announced that reverse mortgage applicants won├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ót be considered for the program. Homeowners already using the deferral advantage were told in July that they are required to reapply for the statewide program no later than July 25. Additional alterations to the program's format include more stringent asset limits, stricter income criteria, and a five-year minimum for prior residency in the qualifying home.

ProTeck Valuation Services and American Mortgage Consultants are teaming up to deliver advanced real estate tools, and ProTeck will now provide real estate valuation and reconciliation via AMC.

On Tuesday Ginnie Mae gave the green-light to mortgage lender and servicer Carrington Mortgage Services, LLC to issue single-family mortgage-backed securities, allowing the company to package and securitize FHA loans.

On Monday lawmakers introduced a bill that would extend the current conforming loan limits for another two years a deal that could continue federal insurance for homeowners with high conforming jumbo loans. Rep. John Campbell (R-California) and Rep. Gary Ackerman (D-New York) co-sponsored the bill, titled the Conforming Loan Limits Extension Act, which would fix the limit for jumbo loans backed by GSEs Fannie Mae and Freddie Mac and the Federal Housing Administration at $729,750.

Lender Processing Services released a statement announcing today that the Real Estate Board of New York chose its MLS Portal to operate as the platform for its new Web site, which allows New Yorkers to search for homes.

In a statement released Monday, NDeX announced the appointment of its president and chief financial officer, Scott Goldstein, to the Federal Reserve Bank of Chicago Advisory Council. Scott represents a combination of business savvy and economic vision that will prove to be a valuable resource in his role with the Fed, said James P.

On Monday the National Association of Home Builders reported an increasingly sunny outlook among single-family homebuilders, with a Housing Market Index jointly released by Wells Fargo signaling a 13-point rise in homebuilder confidence-an uptick from the three-point plunge in June. In July two of the three indexes saw surges, up from steady declines over May. Current sales conditions went up to 15 from two points-the same as in May-as sales expectations for the next six months jumped by 22 points.

President Barack Obama announced Sunday that he would withdraw Treasury Department advisor Elizabeth Warren for the top post at the Consumer Financial Protection Bureau and replace her with Richard Cordray.

The numbers are in, and New York tops the list of states boasting the highest mortgage closing costs nationwide. The results of the Bankrate, Inc. survey demonstrate New York├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós dubious dominance in closing fees for the second straight year. Other high-cost areas rounding out the top five? Texas, Utah, San Francisco, and Idaho. Nationally, the total cost of origination and title fees has risen since last year by 8.8 percent, to an average cost of $4,070 on a $200,000 mortgage.

On Thursday news reports confirmed that mortgage giant JPMorgan plans to scale back a $154 billion mortgage portfolio to a bare minimum on its balance sheets, even as it battles through continuing mortgage losses, multiple suits and settlements over past loan-servicing practices.