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Home | News

Oil and Gas Industry Help Fuel Loan Growth in South

Oil and Gas Industry Help Fuel Loan Growth in South

The Office of the Comptroller of the Currency (OCC) found in a new study that the average loan growth rate has doubled among banks and federal savings associations (FSAs) in the nine states that make up the OCC’s Southern District. The OCC’s findings were from loan growth in 2012 to 2013, and reached 4 percent in 2013.

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CFPB to Launch eClosing Pilot Program

CFPB to Launch eClosing Pilot Program

In an effort to create a more consumer-friendly environment, the Consumer Financial Protection Bureau (CFPB) has announced a new pilot program, centered specifically on gathering data from partners using electronic closings (eClosings) to complete mortgages.

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FHFA: HARP Refinances Drop in February

FHFA: HARP Refinances Drop in February

Amid continued rising home prices and rising mortgage rates, the number of refinances achieved through the Home Affordable Refinance Program (HARP) is declining, according to the Federal Housing Finance Agency (FHFA). Even a slight drop in mortgage rates to 4.3 percent for the month did not bolster February's HARP refinances.

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Mortgage Rates Increase Slightly to 4.33%

Mortgage Rates Increase Slightly to 4.33%

The average 30-year fixed mortgage rate came up to 4.33 percent (0.6 point) for the week ending April 24, up from 4.27 percent in the previous week, according to Freddie Mac’s latest Primary Mortgage Market Survey. Last year, the 30-year fixed-rate mortgage (FRM) averaged 3.40 percent, almost a full point lower. The 15-year FRM this week averaged 3.39 percent (0.6 point), moving up from 3.33 percent.

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Massachusetts Home Sales Decrease from Low Inventory

Massachusetts Home Sales Decrease from Low Inventory

For four out of the last five months, single-family home sales have decreased in the Bay State. This trend is seen by some as a simple problem in availability. Timothy J. Warren Jr., CEO of The Warren Group said, "The low inventory of single-family homes in the market is the primary cause of the decreasing sales activity."

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Collateral Risk Solutions Announces New Product for Lenders

Collateral Risk Solutions Announces New Product for Lenders

Collateral Risk Solutions (CRS) has launched its new Desktop Evaluation Service, providing a response to demand from lenders for a reliable and economic alternative to field appraisals. According to CEO Joel Meredith, the new technology offering was designed to provide a USPAP compliant appraisal option for home equity lines of credit, loss mitigation, and quality control that meets all inter-agency evaluation and appraisal guidelines.

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CFPB: Consumers ‘Fraught with Anxiety’ Closing Mortgages

CFPB: Consumers ‘Fraught with Anxiety’ Closing Mortgages

As part of its “Know Before You Owe” initiative to streamline mortgage lending, CFPB released Wednesday the results of a year of research on the closing process, including comments collected from both consumers and market participants. The findings indicate frustration all around. “Mortgage closings are often fraught with anxiety,” said CFPB Director Richard Cordray.

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