National Mortgage News, Oct. 4, 2018–Bonnie Sinnock (subscription)Intercontinental Exchange, the owner of the New York Stock Exchange, has purchased the remaining equity in Merscorp Holdings it did not already own.
Category: Top National News
Acquisition of PHH Corp. a Done Deal
Mortgage Daily, Oct. 4, 2018Ocwen Financial Corp.’s acquisition of PHH Corp., which has operated as an independent organization for more than a dozen years, has been completed.
Weekly Mortgage Applications Flatline, Along with Interest Rates
CNBC, Oct. 3, 2018–Diana OlickMortgage application volume last week sank 15 percent from last year but was unchanged from the previous week, according to the Mortgage Bankers Association.
More Americans Lying on Mortgage Applications
Fox Business, Oct. 3, 2018–Brittany De LeaAs many as one in 109 mortgage applications had indications of fraud in the second quarter, according to a new study from CoreLogic. That represents a more than 12 percent increase over the same quarter last year.
User Experience is Biggest Hindrance in Fight Against Mortgage Fraud
National Mortgage News, Oct. 3, 2018–Paul Centopani (subscription)Seventy-one percent of financial services firms said customer expectations influence the methods they use to detect fraud, according to Transunion. However, many cyber securitizations lack real-time adjustments or result in poor user experience.
New Listings in September Up Eight Percent YoY
National Mortgage Professional, Oct. 3, 2018–Phil HallMore than 465,000 new listings of homes for sale were posted in September, an eight percent year-over-year increase and the largest upturn in new listings since 2013, according to new data from Realtor.com.
Senate Dems to Mulvaney: How Did Embattled Aide Get CFPB Job?
National Mortgage News, Oct. 3, 2018–Kate Berry, Rachel Witkowski (subscription)Senate Democrats on Wednesday called for acting Consumer Financial Protection Bureau Director Mick Mulvaney to explain the vetting process that led to the hiring of a political appointee whose past incendiary writings have caused upheaval at the agency.
Judge Tosses Class Action Suit Against Zillow
HousingWire, Oct. 3, 2018–Jessica GuerinU.S. District Judge John C. Coughenour tossed out the suit, stating that the investor plaintiffs, in their attempt to prove that Zillow knowingly violated the Real Estate Settlement Procedures Act, actually proved otherwise.
Bank HEL Delinquency Soars
Mortgage Daily, Oct. 4, 2018Quarterly performance on bank-owned home-equity loans substantially deteriorated, an American Bankers Association report said.
Consumer Bankruptcies Drop from Month, Yr Earlier
Mortgage Daily, Oct. 3, 2018A sharp drop in monthly consumer bankruptcy filings was complimented by a year-over-year improvement, the American Bankruptcy Institute reported.