airn / Shutterstock.com Proposed bill would place Fannie, Freddie funds in escrow

Proposed bill would place Fannie, Freddie funds in escrow

Aiming to protect taxpayers against loss in the event of a housing market downturn, Rep. Marsha Blackburn, R-Tenn., yesterday introduced legislation that would establish a secondary reserve fund for government-sponsored enterprises Fannie Mae and Fre...
By Amy Swinderman | Friday, March 27, 2015
Goodluz / Shutterstock.com Homebuyers crave title insurance information early in purchasing process -- but who will provide it?

Homebuyers crave title insurance information early in purchasing process -- but who will provide it?

It's no secret that consumers are confused about title insurance and its value, but the American Land Title Association (ALTA) is equally concerned about the misconceptions that real estate partners have about its industry and its place in the closin...
By Amy Swinderman | Friday, March 27, 2015
Aperture51 / Shutterstock Freddie Mac vet tapped to lead FHA

Freddie Mac vet tapped to lead FHA

Freddie Mac veteran Edward Golding has been named to head up the Federal Housing Administration -- sort of ......
By Matt Carter | Thursday, March 26, 2015
weedezign / Shutterstock.com Mortgage jobs up at nonbank lenders, down at large banks

Mortgage jobs up at nonbank lenders, down at large banks

Jobs in the mortgage industry increased slightly in the fourth quarter of 2014, according to Mortgage Daily’s mortgage employment index. An estimated 577,800 people were employed in the mortgage industry at the end of last year, an increase over an...
By Amy Swinderman | Wednesday, March 25, 2015
wavebreakmedia / Shutterstock Survey finds it's often up to Realtors to clue millennials in to closing costs

Survey finds it's often up to Realtors to clue millennials in to closing costs

Most millennials are blissfully unaware that title insurance, lender origination fees and other closing costs can amount to 3 to 5 percent of a home’s purchase price — $6,000 to $10,000 for a median-priced home — and it’s usua...
By Matt Carter | Wednesday, March 25, 2015
Niyazz / Shutterstock.com Underwater second mortgages surface in Supreme Court case

Underwater second mortgages surface in Supreme Court case

As the aftermath of the U.S. housing market collapse in 2008 continues to unravel, the U.S. Supreme Court this week heard oral arguments in a case that will decide whether an underwater mortgage loan can be wiped out in a bankruptcy proceeding ......
By Amy Swinderman | Wednesday, March 25, 2015
Andrey Bayda / Shutterstock.com Detroit mortgages, affordable; San Francisco, not so much

Detroit mortgages, affordable; San Francisco, not so much

A new survey from realtor.com predicts that Detroit will be the most affordable and San Francisco the least affordable markets this year. The online real estate services provider released the results of its first-ever Mortgage Affordability Report to...
By Amy Swinderman | Tuesday, March 24, 2015
mezzotint/Shutterstock Access to credit still biggest hurdle for millennials to enter real estate market

Access to credit still biggest hurdle for millennials to enter real estate market

Since the Great Recession, employment numbers have been low, income gains modest, and debt and rent levels high -- all while access to credit has been tight. This combination has kept young homebuyers out of the real estate realm. According to recent...
By Ray Brousseau | Monday, March 23, 2015
Stuart Monk / Shutterstock.com Mortgage servicer out of compliance with stock exchange listing rules

Mortgage servicer out of compliance with stock exchange listing rules

Mortgage servicer Home Loan Servicing Solutions, a spinoff of Ocwen Financial Corp., has fallen out of compliance with NASDAQ’s rules for continued listing on the stock exchange after twice delaying the filing of its 2014 annual report with the U.S...
By Amy Swinderman | Monday, March 23, 2015
gary yim / Shutterstock.com Nation’s top title insurers enjoy steady revenues

Nation’s top title insurers enjoy steady revenues

Although title insurance revenues declined in 2014, this year holds the promise of a solid pipeline of activity, according to a recently released Fitch Ratings special report. Title premiums could rise in response to increased business competition in...
By Amy Swinderman | Friday, March 20, 2015
Frontpage / Shutterstock.com Freddie Mac taps Capital One VP to lead affordable mortgage lending efforts

Freddie Mac taps Capital One VP to lead affordable mortgage lending efforts

Government-sponsored enterprise Freddie Mac has tapped Daniel Gardner, a longtime champion of affordable mortgage lending, to create new opportunities for low- and moderate-income borrowers and underserved communities ......
By Amy Swinderman | Thursday, March 19, 2015
Christopher Boswell / Shutterstock.com JPMorgan buying $45B in mortgage servicing rights from Ocwen

JPMorgan buying $45B in mortgage servicing rights from Ocwen

JPMorgan Chase & Co. has finally been identified as the buyer of $45 billion in mortgage servicing rights (MSRs) from Ocwen Financial Corp., according to a Bloomberg report published this week ......
By Amy Swinderman | Thursday, March 19, 2015
Worakit Sirijinda/Shutterstock It will take a village to close a mortgage in 2015

It will take a village to close a mortgage in 2015

The amount of time and effort it takes to close a mortgage is incredible. Many participants in the process work overtime, sometimes for over a month, or several months, per closing to make sure the customer is happy. Unfortunately, the mortgage proce...
By Wes MIller | Thursday, March 19, 2015
Jorge Salcedo / Shutterstock.com Lenders forecast rosy spring for mortgages

Lenders forecast rosy spring for mortgages

Mortgage lenders expect increased demand and profit margins as we head into spring, according to Fannie Mae’s first-quarter 2015 Mortgage Lender Sentiment Survey, which indicated that an improved economy and relaxed credit standards are fueling opt...
By Amy Swinderman | Wednesday, March 18, 2015
Steve Heap / Shutterstock.com First American Title adds to NY empire with TitleVest acquisition

First American Title adds to NY empire with TitleVest acquisition

With an eye toward expanding its presence in the competitive New York real estate market, First American Title Insurance Co. announced the acquisition of TitleVest Holdings Group LLC, a title agency with headquarters on Wall Street, for an undisclose...
By Amy Swinderman | Friday, March 13, 2015
Kentoh/Shutterstock Bond and mortgage markets fear Fed 'normalization'

Bond and mortgage markets fear Fed 'normalization'

Long-term rates came down a hair this week from the prior three-week spike, but there is no sign of another flirtation with the February lows. The third straight monthly slide in retail sales, along with the decline in oil to ......
By Lou Barnes | Friday, March 13, 2015
Frontpage / Shutterstock.com Fannie Mae to include more data in appraisal findings report

Fannie Mae to include more data in appraisal findings report

Government-sponsored enterprise Fannie Mae this week announced an update to its Uniform Collateral Data Portal (UCDP) to include feedback from its Collateral Underwriter (CU) application. Through UCDP, lenders can upload appraisal data and view edits...
By Amy Swinderman | Thursday, March 12, 2015
Warren Goldswain / Shutterstock.com Survey says: Time is right to buy a home, especially for millennials

Survey says: Time is right to buy a home, especially for millennials

Noticed an influx of clients thinking about buying a home? You're not alone; buyer confidence is on the rise, according to a recent survey by TD Bank. The third annual TD Bank Mortgage Service Index, released today, asked a national group of 1,450 co...
By Amy Swinderman | Wednesday, March 11, 2015