Fannie Mae recently released its Monthly Summary for February 2017. Fannie Mae’s gross mortgage portfolio decreased for at a compound annualized rate of 16.9 percent for the month, while the GSEs Conventional Single Family Delinquency Rate stayed much the same month-over-month.

The majority of the fastest moving market areas can be found in California. The No. 1 hottest market for both March and February was Vallejo-Fairfield, California; followed by San Francisco-Oakland-Hayward, California. The median age of inventory for these two areas were 33 days and 26 days, respectively, well below the nationwide median. Areas in California make up nine of the Realtor.com’s top 20 hottest markets.

Upticks in construction have boosted the economy in some states. States such as Tennessee and Colorado rank highly on Forbes' American Dream Index due to high amounts of building permits, as well as declines in unemployment. similarly influenced by high building permits and low unemployment. Meanwhile, states such as Alabama are hindered by high rates of bankruptcy.

The national affordability index noted that consumers would need to spend 33.6 percent of wages to buy a median-priced home nationally. Though this is below the historic average of 34.6 percent, it is still the highest amount since Q4 2008. However, 25 percent of counties covered by the index noted that the share of average wages necessary to buy a median-priced home is above the historic average.

On Tuesday, Sun Bancorp, Inc, the holding company of Sun National Bank, announced that the board of directors has elected James B. Lockhart III as a Director. Lockhart Vice Chairman of WL Ross & Co. LLC, serves as a Director ...

The GSE no longer allows plywood to be used on homes in preforeclosure, however, this rule does not apply to Fannie Mae’s REO properties. As of March 29, servicers have 90 days to re-glaze/repair or clear board all unsecured and previously plywood boarded windows. Additionally, Fannie Mae will allow servicers seven days to secure a property after it has been found vacant, by re-glazing/repairing or clear boarding.

According to Mortgage Cadence, this new release of Mortgage Cadence’s cloud-based technology should provide a superior experience for borrowers and a more-efficient, cost effective process for lenders.

While traditional LOS-provided document management implementation have placed the burden of creating and managing electronic loan delivery profiles on the lender, VirPack's preconfigured implementation technology removes that problem.

Wells Fargo announced an agreement in principal to settle a class action lawsuit, regarding claims that Wells Fargo opened accounts without the consent of its customers. This comes on the heels of the announcement of the bank's Community Reinvestment Act Rating (CRA), in which it received high scores, despite an overall score of "needs improvement."

Red Bell is a Salt Lake City-based provider of valuation products, including automated valuation models and broker price opinions used by major investors, lenders and loan servicers. Pyramid Platform offers technology solutions that help investors monitor loan portfolio performance and direct loss mitigation activities; acquire and track non-performing loans; and value and sell real estate owned through a secure platform.