National Mortgage News, May 6, 2016–Passy, Jacob
Fewer lenders are looking to change their loan origination systems this year, according to a survey from mortgage compliance software provider QuestSoft.
Category: Top National News
Redwood’s 1Q Earnings Dip on Lower Interest Income
National Mortgage News, May 6, 2016–Passy, Jacob
Redwood Trust posted lower profits for the first quarter of 2016 as a result of falling interest income and the impact of lower interest rates.
Job Market Slowdown, Rising Wages May Fit Fed’s Playbook
Reuters, May 6, 2016–Schneider, Howard
A slowdown in U.S. hiring coupled with a jump in wages last month dovetails with what the Federal Reserve expected as the economy approaches full employment and is not likely to alter its interest rate hike trajectory.
Forest City Reports Stronger First Quarter, Racks Up Real Estate Sales
Cleveland Plain Dealer, May 6, 2016–Jarboe, Michelle
Forest City Realty Trust Inc., sold more than $1 billion worth of assets during the first few months of this year, ranging from the company’s stake in a New York NBA team to a shopping mall in the heart of downtown Cleveland.
Turns Out Strategic Mortgage Defaults Weren’t Really Strategic
Arizona Republic, May 7, 2016–Wiles, Russ
Despite a lot of media attention at the time paid to strategic defaulters, they were rare: fewer than 1% of households with the financial means to pay instead chose to walk away.
Home Builders Say They Are Squeezed by Rising Compliance Costs
Wall Street Journal, May 7, 2016–Kirkham, Chris
The average cost for home builders to comply with regulations for new home construction has increased by nearly 30% over the last five years, according to new research from the National Association of Home Builders.
MountainView Advises Sale of $4.7B Portfolio of Fannie, Freddie MSRs
National Mortgage News, May 6, 2016–Passy, Jacob
MountainView Servicing Group in Denver said Friday that it is the exclusive advisor for the sale of a bulk mortgage servicing rights portfolio with Fannie Mae, Freddie Mac and Ginnie Mae loans. The bulk portfolio carries $4.7 billion of unpaid principal balance.
7 Facts About the Next Wave of Mortgage Lending Professionals
HousingWire, May 6, 2016–Swanson, Brena
The mortgage industry is on the verge of a major transition, and it’s not in regulation, government or products. It’s the people that make the entire mortgage operation run that are simply a few years away from retiring.
Far from the City, Far from Recovery
Washington Post, May 8, 2016–O’Connell, Jonathan; Orton, Kathy
Loudoun County’s distant suburbs were the D.C. area’s hottest market – until nightmare commutes and a revitalized District flipped a housing switch.
PHH Exits Correspondent Lending as Rest of Industry Steps In
HousingWire, May 6, 2016–Swanson, Brena
PHH Corp. announced in its first-quarter earnings that it decided to exit the wholesale/correspondent lending channel, a move that differs from a recent development in the industry toward correspondent lending.