HUD Proposes Enhancements to CWCOT Procedures

HUD, in a draft Mortgagee Letter, proposes to enhance FHA’s Claims Without Conveyance of Title (CWCOT) procedures, a development welcomed by the Mortgage Bankers Association.

Mild January Spurs New Home Sales

Mild January weather led to a strong jump in new home sales, HUD and the Census Bureau reported yesterday.

Industry Briefs

OptifiNow, Buena Vista, Calif., announced Sun West Mortgage Co. launched its cloud-based CRM and marketing automation platform for wholesale, distributed retail and its Home Buyer Connect mortgage lending channels.

HUD Report Notes ‘Credit Invisibility’ Among Assisted Households

HUD and the Policy and Economic Research Council, in a new study examining reporting rent payments to credit reporting agencies, said while rent payment performance can improve both credit visibility and the fraction of tenants with credit scores above 620, it also shows that many public housing tenants continue to have subprime credit scores that can limit their housing choices and their ability to obtain insurance.

Industry Briefs

OptifiNow, Buena Vista, Calif., announced Sun West Mortgage Co. launched its cloud-based CRM and marketing automation platform for wholesale, distributed retail and its Home Buyer Connect mortgage lending channels.

January Housing Starts Down, But Outlook Good

Housing starts started the year on a down note, HUD and the Census Bureau reported yesterday, but the pace remained solid, analysts said.

Commercial/Multifamily Briefs

HUD will launch a national bus tour this week focused on removing barriers to affordable housing.