Rick Hall of LoanLogics explains why quality control should be viewed not as a cost center, but as an investment that ensures future success.
Read More »Looser Underwriting is the Name of the Game in 2016
Why have banks and federal savings associations began relaxing their underwriting standards, according to a survey from the Office of the Comptroller of the Currency?
Read More »U.S. Comptroller Warns Banks of Risks From Sub-par Underwriting Standards
Careless underwriting standards is causing an influx of credit risk in bank lending portfolios, which could be a huge mistake for these lenders over the long-term.
Read More »Former First Franklin CEO to Lead WDB Funding
WDB Funding, LLC, announced the appointment of Andrew Pollock as the firm's president and CEO. Pollock brings 25 years' experience heading large-scale lending operations to his new role, where he is responsible for providing day-to-day leadership, managing operations, and executing the strategic direction of the company.
Read More »Exploring a New Method of Financing for Homeownership
Crowdsourcing caught fire as a vehicle for financing documentaries and small businesses. Now, the concept of pooled resources is being used as an investment vehicle offering equities in homeownership to investors and loan assistance to selected prospective homeowners. One of the first companies to offer such a program is PRIMARQ, a capital market company headed up by founder and CEO Steve Cinelli, who says equity deficiencies have become a major barrier for prospective homeowners.
Read More »GSE Reaches Settlement with PNC
PNC and Freddie Mac announced an agreement to resolve substantially all indemnification and repurchase obligations related to loans sold to Freddie Mac between 2000 and 2008.
Read More »July Case-Shiller Indices Improve at Slower Pace
Home prices rose in July by less than 2 percent for the first time since March but still reached their highest level since August 2008, according to the Case-Shiller Home Price Indices released Tuesday. All 20 cities included in the survey improved both month-to-month and year-to-year. The two surveys have improved both monthly and yearly for 14 consecutive months.
Read More »July Existing-Home Sales Highest Since November 2009
Existing-home sales soared 6.5 percent in July to an annual sales rate of 5.39 million--the highest level since November 2009--as the price of a single-family home slipped 0.2 percent.
Read More »Commentary: Solving the Wrong Problem
"GSE reform," according to White House propaganda, will end "an era of housing bubble and taxpayer bailouts." Obama's about the bubbles and bailouts, but wrong to blame Fannie and Freddie.
Read More »Loan Officers Report Rising Demand for Non-Traditional Loans
According to the Federal Reserve's latest quarterly Senior Loan Officers Opinion Survey, a net 3.1 percent of lenders responding said demand for "non-traditional" residential loans increased from the survey released three months ago and a net 25 percent of respondents said demand for loans from sub-prime borrowers was higher than it was in May. At the same time, a net 6.3 percent of lenders said they had eased lending terms and standards for non-traditional mortgage loans.
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