Category: Top National News

National Mortgage News, July 3, 2018–Brad Finkelstein (subscription)Fannie Mae and Freddie Mac enjoy considerable market advantages because of their lower cost of capital and significant government subsidies. But with some conforming loans, the private market is finding a way to compete with the government-sponsored enterprises.

HousingWire, July 3, 2018–Kevin GillenAn intellectual property court case that was decided this spring has elevated the topic of Automated Valuation Models, or AVMs, into the public discourse. While normally confined to real estate industry circles, the subject has received increased discussion as media outlets report on the case that led to a $706 million jury verdict.

Bloomberg, July 3, 2018–Hannah Levitt (subscription)Personal loans surged to a record this year and are the fastest-growing U.S. consumer-lending category, according to data from credit bureau TransUnion.

Mortgage Daily, July 3, 2018A new call center in South Carolina launched by Princeton Mortgage Corp. will be the home for in excess of a hundred new employees.

HousingWire, July 3, 2018–Ben LaneShellpoint is the parent company of several subsidiaries, including mortgage lender New Penn Financial, Shellpoint Mortgage Servicing, title and settlement services provider Avenue 365, and eStreet, an appraisal management company.

CNBC, July 4, 2018–Diana OlickTotal mortgage application volume decreased 0.5 percent on a seasonally adjusted basis compared with the previous week, according to the Mortgage Bankers Association.

Mortgage Daily, July 3, 2018–Sam GarciaAmong mortgage industry events planned for this month are a loan officer expo, a consumer bankruptcy forum and an annual meeting hosted by a mortgage technology provider.

Hispanic Executive, July 2018–Rhiannon Root”Eddy Perez one of our industry’s greatest advocates,” said David Stevens, CMB, President and CEO of the Mortgage Bankers Association. “He has been a leading voice for the dream of homeownership and has driven a culture of political and community engagement down though his company. Our industry needs more leaders like Eddy.”

Wall Street Journal, July 2, 2018–Michael Rapoport (subscription)PricewaterhouseCoopers LLP must pay $625.3 million in damages for failing to catch a fraud scheme that helped cause one of the biggest bank failures of the financial crisis, involving Colonial Bank in Alabama, a federal judge ruled Monday.

National Mortgage News, July 2, 2018–Brad Finkelstein (subscription)The number of nonbank mortgage lenders and servicers that did not comply with the California Residential Mortgage Lending Act Annual Report requirements grew this year, prompting a reprimand and warning of penalties from the commissioner of the state’s Department of Business Oversight.