Nationstar Mortgage Holdings Inc. announced Tuesday that Nationstar Mortgage LLC has signed a definitive agreement to acquire approximately $10.4 billion in residential mortgage servicing rights from Bank of America, National Association. The servicing portfolio consists entirely of loans in GSE pools.
Read More »Delinquency Rates Drop for Banks, Rise for CMBS in First Quarter
Tuesday's report showed that during the first quarter of 2012, the 60+ day delinquency rate for commercial and multifamily mortgages held in life insurance company portfolios decreased 0.03 percentage points to 0.14 percent. The 60+ day rate for multifamily loans held or insured by Fannie Mae also decreased, falling 0.22 percentage points to 0.37 percent. The 90+ day delinquency rate for loans held by FDIC-insured banks and thrifts dropped 0.13 percentage points to 3.44 percent.
Read More »CoreLogic: HPI Increased in April, Will Continue in May
Home prices across the nation rose in April, and a further increase is expected for May's index, according to CoreLogic's April Home Price Index (HPI) report. The report, released Tuesday, showed that home prices in the United States (including distressed sales-short sales and REO transactions) increased on a year-over-year basis by 1.1 percent in April. This was the second consecutive year-over-year increase in 2012 and the first time two consecutive increases have occurred since June 2010. On a month-over-month basis, home prices increased by 2.2 percent in April, marking the second consecutive month-over-month increase this year.
Read More »Christopher M. Hill Brings in New Attorney
Christopher M. Hill & Associates announced May 25 the addition of Amy L. Eversole as an associate attorney with the firm.
Read More »Clarifire Community App Available to Download
eMason, Inc., announced Saturday that its Clarifire Community app was approved by Apple and is now available for download.
Read More »Agencies Sign Memorandum on Supervisory Coordination
The Consumer Financial Protection Bureau, the Board of Governors of the Federal Reserve System, the FDIC, the National Credit Union Administration, and the Office of the Comptroller of the Currency today released a Memorandum of Understanding (MOU) to clarify how they will coordinate their supervisory activities.
Read More »GFI Moves to Dismiss DOJ Fair Lending Suit
GFI Mortgage Bankers filed a motion Friday to dismiss a suit from the Department of Justice that alleged discrimination in GFI's lending practices. GFI's motion asserts that the disparate impact discrimination statutes cited by DOJ in its suit-the Fair Housing Act (FHA) and the Equal Credit Opportunity Act (ECOA)-do not contain language that permits anti-discrimination claims. The company also argues that the practice of allowing employees discretion when pricing loans is standard policy and widely accepted in the industry.
Read More »Freddie Mac Announces Lower Modification Interest Rate
Freddie Mac announced Friday that starting July 1, the GSE's Standard Modification interest rate will come down from 5 percent to 4.625 percent. The Standard Modification is for borrowers who do not qualify for the government's Home Affordable Modification Program (HAMP). The modification makes payments more affordable by lowering a borrower's principal and interest payments by at least 10 percent. The modification includes a trial period as does HAMP to ensure borrowers can maintain modified mortgage payments.
Read More »LPS Applied Analytics Launches Lien Matching Service
Lender Processing Services, Inc., announced Monday the launch of LPS Industry Lien Matching Service from its LPS Applied Analytics division.
Read More »ListedBy Appoints Marketing VP
ListedBy.com announced Thursday that the company has appointed Roger Noujeim as VP of marketing. The online real estate marketplace chose Noujeim for its executive team to lead the company's global marketing and branding strategy.
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