ClosingCorp, a San Diego-based residential real estate closing cost data and technology provider for the mortgage and real estate services industries, has announced the hiring of James Bolger as chief financial officer.
Read More »Foreclosure Inventory Below Pre-Crisis Levels, But Still Three Times the ‘Normal’ Rate
Foreclosure starts totaled 79,000 in June, which was the second-lowest lowest post-crisis monthly total, according to Black Knight. The lowest post-crisis monthly foreclosure start volume of 73,500 occurred in April 2015. Foreclosure starts have totaled less than 100,000 every month since January 2014.
Read More »Housing Markets Continue Slow But Steady Ascent Into Stable Range
The 79.2 value for the latest MiMi, which was released Wednesday, indicated a weak overall housing market but improved by 0.71 percentage points from April to May and by more than 2 percentage points over the three-month period from the beginning of March to the end of May. The MiMi value improved by more than 4 percentage points year-over-year in May, according to Freddie Mac.
Read More »Fannie Mae Announces Enhanced Dataset for Single-Family Loans
Features of the enhanced dataset include information on credit performance up to, and including, property disposition. The credit information the new dataset provides includes event dates, the costs incurred by the credit event, and recovery proceeds that Fannie Mae receives.
Read More »Texas Lawmakers Introduce Bill to Eliminate CFPB
Republicans believe the CFPB, which was created from the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, has had the opposite effect of its intended purpose of protecting consumers from predatory financial activity; rather, they believe the Bureau has made big banks bigger and limits options for consumers.
Read More »Congressmen Agree White House Has Not Made GSE Reform a Priority
Appearing as panelists in a discussion at the Bipartisan Policy Center this week titled "Housing Finance Reform: A Status Report," U.S. Congressmen Randy Neugebauer (R-Texas) and John Delaney (D-Maryland) both agreed a major reason why such reform has not happened is because the White House has not made it a top priority.
Read More »Analysts Estimate Monetary and Paperwork Costs Imposed by Dodd-Frank
The Home Mortgage Disclosure Rule is one of the rules that is still pending; AAF estimates it will impose another $2.1 billion in final rule costs to go with 90,000 paperwork hours. The rule was originally scheduled to go into effect on August 1, but the CFPB announced this date would be pushed back due to an "administrative error"; the new proposed effective date is October 3.
Read More »Fannie Mae Reaches Milestone With Latest Credit Risk Sharing Transaction
Fannie Mae took two major steps this week in achieving its goal of increasing the role of private capital in the mortgage market through credit risk transfers in order to reduce taxpayer risk, as set forth by its conservator, the Federal Housing Finance Agency (FHFA).
Read More »Fed Likely to Raise Rates By Year’s End If ‘Economy Evolves’ As Expected
In both hearings, Yellen addressed the subject of the much-anticipated federal funds range increase; Thursday before the Senate Banking Committee, she reiterated that more economic improvement, particularly in the labor market, is needed along with confidence that the objective of 2 percent inflation can be met over the medium term. She said the Federal Open Market Committee (FOMC) would determine on a meeting-by-meeting basis if progress toward that goal is sufficient enough to raise the rates.
Read More »B2R Finance Welcomes New CFO
Nationwide lender for single-family rental (SFR) property investors B2R Finance announced this week that Darren Thompson has been hired as CFO and EVP of strategy.
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