Farmington Hills, Michigan-based Best Homes Title has announced its acquisition of Rochester Hills-based Homeowners Title Agency as part of an effort to become one of Michigan's largest and most experienced title- and escrow-service companies.
Read More »ShortSave Announces Enhancements For Servicer and Borrower Experience
Colorado-based award-winning borrower-facing mortgage default servicing system provider ShortSave, Inc. has announced upgrades to improve analytics and compliance tracking for servicers and enhance the experience for borrowers.
Read More »Nevada Senate Passes Bill to Amend ‘Super-Priority Lien’ Law
Banks and lenders that have suffered huge losses in some cases when HOAs have extinguished mortgages where the delinquent HOA dues amounted to a fraction of the balance on the mortgage claim that the super-priority lien law gives the HOAs too much power.
Read More »Millennials Leading Revival In Urban Areas, According to Home Value Forecast
What the HVF authors discovered was that the two urban areas examined to determine what impact millennials were having, the Lyn-Lake area of Minneapolis and South Boston, have withstood the housing bust and were at all-time highs.
Read More »Household Debt Outstanding Inches Upward While Delinquency Rates Are Improving
Delinquency rates improved overall in the first quarter of 2015, according to the New York Fed. At the end of Q1, about $679 billion of household debt was in some stage of delinquency (representing about 5.7 percent of outstanding debt), a decline from 6.0 percent reported at the end of the previous quarter.
Read More »HUD Names New Senior Advisor For Housing Finance
The U.S. Department of Housing and Urban Development (HUD) has named Richard K. Green, University of Southern California Lusk Center for Real Estate director, as a senior advisor for housing finance, according to an announcement from HUD.
Read More »LenderLive Completes Acquisition of Walz Group
Denver, Colorado-based end-to-end mortgage services provider LenderLive announced that it has acquired regulatory compliance solutions, full-cycle critical document fulfillment, and Certified Mail Automation provider Walz Group.
Read More »Supreme Court Outlaws Chapter 7 ‘Stripping Off’ of Second Mortgages
Bank of America appealed the bankruptcy judge's ruling for the two cases, but the 11th Circuit U.S. Court of Appeals upheld the bankruptcy court's decision in May 2014, going against the Dewsnup ruling by saying that decision did not apply when the collateral on a junior lien (second mortgage) did not have sufficient enough value. The bank subsequently appealed the 11th Circuit Court's ruling.
Read More »Delinquencies Down Among Single-Family Rental Securitizations
Delinquencies were reported at less than 1 percent in 11 out of 15 single-family securitizations rated by Morningstar in March 2015, compared with 16 out of 17 in April. The recently-closed AH4R 2015-SFR1 (American Homes 4 Rent) and IH-2015 SFR2 (Invitation Homes) were added to the May 2015 report.
Read More »Judge Dismisses Class Action Racketeering Suit Against Ocwen
The homeowners claim that Ocwen charged them for unnecessary repeat inspections properties where the borrower was either delinquent or in default, and by doing so they claim Ocwen was in violation of Fannie Mae's servicing guidelines that require individual cases to be assessed to determine if the properties are in need of subsequent inspections after the first.
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