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Author Archives: Colin Robins

Colin Robins is the online editor for DSNews.com. He holds a Bachelor of Arts from Texas A&M University and a Master of Arts from the University of Texas, Dallas. Additionally, he contributes to the MReport, DS News' sister site.

February Home Sales Fall Slightly in California

California single-family home and condominium sales fell 1.4 percent in February from January, and declined 16.1 percent from February, 2013. According to the Real Property Report from PropertyRadar, last month marked the lowest sales for the month of February since 2008.

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FHLBanks Director Expense Reports Contain ‘Inconsistencies’

2015 HUD

The Federal Housing Finance Agency (FHFA) Office of the Inspector General (OIG) released findings on the reporting of Federal Home Loan Bank (FHLB) director expenses. The OIG found, "FHFA has not included information about FHLBank director expenses in its annual reports to Congress, as required by HERA."

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IDS, MortgageFlex Develop Blind Mortgage Doc Prep-LOS Integration

Mortgage document preparation vendor International Document Services, Inc. (IDS) and MortgageFlex Systems, a provider of mortgage loan software, announced the development of a joint interface between IDS's flagship mortgage document preparation system idsDoc and MortgageFlex's LoanQuest loan origination system (LOS).

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Credit Loosens and Refinances Shrink in February

Ellie Mae released its Origination Insight Report, which noted falling mortgage rates, shrinking refinances, and loosening of credit restrictions in the month of February. Ellie Mae's report, culled from 57 percent of Ellie Mae's mortgage application data, found that the average rate for a 30-year mortgage fell to 4.65 percent.

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$63.1 Million Awarded to Stave Off Foreclosures

New Homes

NeighborWorks America announced Tuesday in a press release that $63.1 million had been awarded to 29 state housing finance agencies, 18 HUD-approved housing counseling intermediaries, and 67 community-based NeighborWorks organizations. The money, provided through the National Foreclosure Mitigation Counseling (NFMC) program, is earmarked for counseling to families and individuals facing the threat of foreclosure.

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Banks Complete Consumer Relief Obligations

Joseph A. Smith, Jr., monitor of the National Mortgage Settlement, filed final crediting reports with the U.S. District Court for the District of Columbia on Bank of America, Chase, Citibank, and Wells Fargo. The reports confirmed that banks have satisfied their consumer relief and refinancing obligations under the settlement, nearly a full year ahead of schedule.

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Ocwen to Pay $2.1 Billion to 49 States

HELOC

The California Department of Business Oversight, along with 48 other states, reached a settlement with Ocwen Financial Corporation and Ocwen Loan Servicing, according to a press release issued by the department. The $2.1 billion settlement was in response to violations regarding mortgage servicing laws.

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Bank Credit and Money Growth Show ‘Subpar Recovery’

2015 HUD

Bank credit and money growth both exhibit typical patterns in the post-Great Recession era; however, the change over the time period is consistent with the pace of a subpar recovery. This revelation was reported by the Wells Fargo Economics Group in a release Monday, highlighting the two factors as reasons for caution among both businesses and bank lenders.

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