National Real Estate Investor, Dec. 12, 2017–Bendix AndersonApartment property owners still look to the lending programs of Fannie Mae and Freddie Mac when they need permanent financing.
Category: Top National News
Pricing Engines Improved, Integrated & Implemented
Mortgage Daily, Dec. 12, 2017–Sam GarciaAs developers of mortgage product and pricing engines improve their technology and integrate with other service providers, they are gaining new clients.
Acquisition to Lift Wintrust Production by $1 Bil
Mortgage Daily, Dec. 12, 2017Wintrust Financial Corp. said it reached a tentative agreement to acquire iFreedom Direct Corp., which does business as Veterans First Mortgage.
PACE Lenders Downplay FHA’s Reversal on Lien Priority
National Mortgage News, Dec. 11, 2017–Glen Fest, Allison Bisbey (subscription)Many mortgage lenders oppose PACE, which creates a lien on a property senior to that of a first mortgage, and were loathe to take advantage policy.
First American Buying BofA Mortgage Lien Release Business
National Mortgage News, Dec. 11, 2017–Brad Finkelstein (subscription)Bank of America is exiting the mortgage lien release business by entering into an agreement to sell this unit to First American Financial Corp.
Office Rents on Fifth Avenue Rank No. 2 For Most Expensive
Wall Street Journal, Dec. 11, 2017–Keiko Morris (subscription)Fifth Avenue came in second behind California’s Sand Hill Road in Menlo Park, recording an average asking rent of $116.04 a square foot, and top asking rents as high as $185 a square foot, according to JLL’s 2017 Most Expensive Streets. Sand Hill Road’s average asking rent reached $119.38 a square foot.
Another Shakeup at Walter Investment; Nonbank Names New CFO and COO
HousingWire, Dec. 11, 2017–Ben LaneWalter Investment announced recently that Gary Tillett, who serves as executive vice president and chief financial officer, plans to retire in 2018. Replacing Tillett will be that Jerry Lombardo, who most recently served as a managing director & treasurer of the consumer and community bank at JPMorgan Chase.
Loan Origination Systems Enhanced, Adopted
Mortgage Daily, Dec. 11, 2017–Sam GarciaEnhancements to a loan origination system have thrust a technology provider into the fastest-growing club. One LOS developer has integrated the services of two mortgage insurance companies, and two have scored new clients.
15-Month High for Ginnie’s HMBS Issuance
Mortgage Daily, Dec. 11, 2017Although overa1l issuance eased at Ginnie Mae, issuance of reverse mortgage securities was the highest it’s been in 15 months.
Movement Mortgage to Pay $1.1 Million for California Mortgage Servicing Violations
HousingWire, Dec. 11, 2017–Ben LaneCalifornia announced Monday it reached a $1.1 million settlement with Movement Mortgage to resolve allegations that the company serviced loans without a California state license and violated the state’s per diem interest rules.