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Lennar Plans to Use New Tech for Mortgage Applications
Wall Street Journal, Mar. 27, 2018--Laura Kusisto (subscription)Lennar plans to begin using mortgage-application technology from Blend, a San Francisco-based startup, that allows consumers to apply for a mortgage online or on their phone. Executives say that the technology can shave as many as 10 days off the process of applying for a mortgage.
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McKinley Mortgage Officials to Pay $3 Million in Fines after ‘Bilking’ Retail Investors
Anchorage Daily News (Alaska), Mar. 27, 2018--Alex DeMarbanThe missteps largely involve McKinley Mortgage in Redding, Calif., and an investment fund it manages, according to the U.S. Securities and Exchange Commission. But the problems extend to McKinley Mortgage in Anchorage and the man who founded the company in Alaska in 1989, Tobias Preston, 55, a former fisherman from Homer who is president of both companies.
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Experts: Homebuyers Should Prepare for Onslaught of Competition This Spring Season
HousingWire, Mar. 27, 2018--Kelsey RamirezThe latest Case-Shiller report showed home prices are continuing to rise, but now experts say not only are those high prices here to stay, but homebuyers could be pummeled this spring by an increase in competition.
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Facebook Accused in Suit of Enabling Discriminatory Housing Ads
Bloomberg, Mar. 27, 2018--Chris DolmetschFacebook Inc. was sued by civil rights groups led by the National Fair Housing Alliance claiming the social-media giant's advertising platform allows landlords and real-estate brokers to exclude groups of people from receiving ads about housing based on characteristics such as family status or sex.
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Brookfield’s $15 Billion Deal for GGP Is Bad News for the American Mall
Bloomberg, Mar. 27, 2018--Sarah Mulholland, Scott DeveauBrookfield Property Partners LP's deal to take over retail landlord GGP Inc. is "wholly inadequate," "a negative for the sector" and "neither exciting for GGP shareholders nor a good read-through for mall asset values." In fact, "investors should vote against the transaction as it does not offer sufficient value," said Wall Street analysts.
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First Securitization of loanDepot Mortgages
Mortgage Daily, Mar. 27, 2018The first issuance of residential mortgage-backed securities solely backed by loans that were originated by loanDepot LLC is in the works.
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Featured Industry Leader: Nicholas Monardo, President, Arizona Mortgage Lenders Association
National Mortgage Professional, Mar. 27, 2018--Phil Hall"MBA does a great job of informing the state chapters of any issues we should be aware of and speak to our local legislators on. In fact, to help with this, we also employ a lobbyist to monitor legislative issues at the state level. We also attend the MBA's National Advocacy Conference in Washington, D.C. every spring."
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Class Appraisal Acquired by Narrow Gauge Capital
HousingWire, Mar. 27, 2018--Caroline BasileICG Strategic Equity and Aberdeen Standard Investments provided equity co-investment in the transaction alongside Narrow Gauge Capital.
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$34 Mil in Nonperforming GSE Loans Trading Hands
Mortgage Daily, Mar. 27, 2018Winning bidders have been announced for a portfolio of 182 Fannie Mae mortgages with a collective outstanding unpaid principal balance of $34.25 million.
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MBA Education/MISMO eMortgages Webinar Series Continues Mar. 29
MBA Education and MISMO present the next webinar in its eMortgage series this Thursday, Mar. 29 from noon-1:30 p.m. ET.
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