Decades after the first fair lending laws started to address discrimination in residential lending, regulators are now laser-focused on eliminating bias in the real estate valuation process.
Category: News and Trends
FundingShield: Fraud Risk Report Shows Slight Drop
FundingShield, Newport Beach, Calif., found that during the third quarter, 46.43% of transactions on an $82 billion portfolio of residential, commercial and business purpose loans had issues leading to a risk of wire and title fraud.
Meet Geno Paluso–Sagent’s Chief Executive Officer
MBA NewsLink recently interviewed Geno Paluso, who joined Sagent in February as Chief Executive Officer. Paluso spent 25 years as a Naval Special Warfare (SEAL) Officer, Commandant of Cadets at The Citadel and a Vice President at BAE Systems Inc. before joining the FinTech firm.
Servicing Quote of the Week
“While we are seeing a decrease in foreclosure starts and repossessions, it’s crucial to remain vigilant, as any economic disruptions or changes in interest rates could shift the current trend.”
–ATTOM CEO Rob Barber
CoreLogic: Mortgage Application Fraud Risk Index Up 8.3% in Q2
CoreLogic, Irvine, Calif., released its latest fraud report, finding that its Mortgage Application Fraud Risk Index increased 8.3% year-over-year in the second quarter and 1.1% from the first quarter.
Trepp: CMBS Special Servicing Rate Jumps in September
Trepp, New York, reported its CMBS Special Servicing Rate rose in September, up 33 basis points to 8.79%.
Foreclosure Activity Drops, ATTOM Finds
ATTOM, Irvine, Calif., said U.S. properties with foreclosure filings are falling, down 2% from the previous quarter and down 13% from a year ago.
MISMO Publishes Mortgage Compliance Dataset
MISMO, the real estate finance industry’s standards organization, announced that the Mortgage Compliance Dataset (MCD) specification has reached “Candidate Recommendation” status, which means that it has been thoroughly reviewed by a wide range of organizations and industry participants and is available for industry use.
Clever Real Estate: Homeowners Spending Significantly on Renovations
Clever Real Estate, St. Louis, recently conducted a survey on home renovation trends, finding 63% of homeowners would prefer to remodel their existing home than move to one that has already been renovated.
LendingTree: 5.6 Million Homes Vacant in Largest U.S. Metro Areas
LendingTree, Charlotte, N.C., reported that 5.6 million housing units are vacant in the largest 50 metro areas in the U.S.–and ranked which ones top that list.