StreetLinks Lender Solutions announced the launch of AppraiserPlus program, which it says will allow appraisers to work more efficiently and receive payments the same day properties are inspected.
Read More »Greystone Hires Director for Affordable Housing Preservation Group
Greystone, a financial services and real estate firm, added Andrew Warren as director of investments for the firm's affordable housing preservation division.
Read More »Income, Transactions Improve for Commercial Realtors
The National Association of Realtors (NAR) reported members who practice commercial real estate saw median income rise to the highest level since 2008, reflecting progress in the commercial sector. In 2012, commercial Realtors reported a median annual income of $90,200 in 2012, up from $86,000 in 2011, according to NAR's 2012 Commercial Member Profile. Among NAR members in commercial real estate, brokers and appraisers brought in the highest income last year, and sales agents reported the lowest. Most members--60 percent--were brokers, while 25 percent were sales agents.
Read More »FHFA: Home Prices Rise for 7th Straight Quarter
U.S. home prices appreciated at a strong pace in the first quarter as prices rose 1.9 percent from the previous quarter, the Federal Housing Finance Agency (FHFA) reported. The quarterly gain marks the seventh straight increase. Compared to the first quarter of 2012, prices were up by 6.7 percent, according to the FHFA's seasonally adjusted, purchase only House Price Index (HPI). From February to March, the index increased by 1.3 percent. FHFA also reported 41 states plus the District of Columbia experienced quarterly price gains.
Read More »Federal Court in Washington Dismisses Wrongful Foreclosure Suit
A federal judge of the U.S. District Court for the Eastern District of Washington ruled in favor of Mortgage Electronic Registration Systems, Inc. (MERS) and other defendants, MERSCORP Holdings, Inc. announced.
Read More »OCC Encourages Banks to Assist Customers Impacted by Tornadoes
The Office of the Comptroller of the Currency (OCC) issued a statement Wednesday to encourage banks and federal savings associations to work with customers affected by the destructive tornadoes that tore through Oklahoma.
Read More »Pacific Union Financial Names EVP of Mortgage Servicing
Pacific Union Financial, LLC appointed industry veteran Scott Conradson as EVP of mortgage servicing. With over 28 years of servicing and default management experience, Conradson will manage the company's growing servicing portfolio.
Read More »Study: Women Own Less Mortgage Debt, Less Likely to Be Delinquent
Although data shows women generally earn less income than men, results from a recent Experian study found women come out ahead when comparing how mortgage debt is managed. According to the study, men were more likely to have a higher mortgage loan amount compared to women, but men were also more likely to be delinquent by 60 days or more. Experian found the mortgage origination amount for men was $187,245, which is 4.9 percent higher compared to the amount for women. At the same time, 5.7 percent of men were delinquent on their mortgage compared to 5.3 percent of women.
Read More »Rising Prices, Shrinking Delinquencies Reduce Future RMBS Losses
As home values improve and servicers continue to ramp up efforts to reduce delinquent pipelines through short sales and loan modifications, the composition of RMBS loan pools outstanding should also improve, according to Moody's most recent ResiLandscape. According to analysts from Moody's, rising home prices motivate current borrowers to avoid default, and they increase the proportion of current loans with loan-to-value (LTV) ratios below 100, which are the loans that are the least likely to go incur losses.
Read More »LPS: Delinquency Rate Slips to Lowest Level Since 2008
Month-end mortgage performance data in April continued to point to a recovery as delinquency and foreclosure rates posted record improvements, Lender Processing Services, Inc. (LPS) reported Wednesday. In April, the delinquency rate sunk below 6.5 percent for the first time since July 2008, according to the data provider. At 6.21 percent, the delinquency rate recorded a month-over-month decrease of 5.81 percent and a year-over-year decline of 9.61 percent. The foreclosure pre-sale inventory rate, which stood at 3.17 percent in April, plunged 24.55 percent from a year ago.
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