Category: Top National News

Mortgage Daily, Oct. 26, 2018The highest-rated home lender for customer satisfaction was–no surprise–Quicken Loans Inc. The Detroit-based company has been ranked as the No. 1 mortgage lender for customer satisfaction by J.D. Power for eight consecutive years.

Mortgage Daily, Oct. 26, 2018As home lenders and investors have recently been a little more relaxed about credit qualifications compared to just after the crisis, mortgage quality has weakened. Still, quality is better than before the crisis, said Moody’s Investors Service.

National Mortgage News, Oct. 28, 2018–Hannah Lang (subscription)Michael Bright’s nomination to become president of Ginnie Mae has been pending since May and the agency that provides funding for government-insured mortgages has been without a permanent chief for almost two years.

HousingWire, Oct. 26, 2018–Ben LaneDiamond Residential Mortgage Company, which is based in Lake Forest, Illinois and has branches in Illinois, Indiana, Michigan, Wisconsin, Missouri, Georgia, Texas, Colorado, California, and Washington, will pay $1.28 million to consumers who were defrauded by Chris Schaller, who ran the company’s Springfield, Illinois branch.

National Mortgage News, Oct. 25, 2018–Paul Centopani (subscription)High property values and low mortgage rates pushed commercial and multifamily originations beyond their projected totals in 2017 to a new market peak, according to the Mortgage Bankers Association.

MarketWatch, Oct 25, 2018–Andrea RiquierRates for home loans ticked up, and may be starting to take a toll on buyer demand, according to data out this week.

National Mortgage News, Oct. 25, 2018–Brad Finkelstein (subscription)All four national title insurance underwriters saw an increase in third-quarter net earnings compared with one year prior even as new orders declined because mortgage origination volume fell this year.

HousingWire, Oct. 25, 2018–Kelsey RamirezUltraFICO has the potential to increase the FICO score for millions of consumers, that is, if they opt in. The new model depends on consumers to “build their own credit score,” and give permission for access to their bank records.

Mortgage Daily, Oct. 25, 2018A second lawsuit has been filed against the Office of the Comptroller of the Currency alleging that a new OCC charter for non-banks violates federal laws and procedures. But the OCC is confident in its authority.

Mortgage Daily, Oct. 25, 2018Included in the offering are MSRs on $2.005 billion in Fannie Mae loans, $0.310 billion in Freddie Mac mortgages and $2.917 billion in Ginnie Mae l loans.