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Author Archives: Tory Barringer

Tory Barringer began his journalism career in early 2011, working as a writer for the University of Texas at Arlington's student newspaper before joining the DS News team in 2012. In addition to contributing to DSNews.com, he is also the online editor for DS News' sister publication, MReport, which focuses on mortgage banking news.

Nationstar Mortgage Acquires Servicing Rights from BofA

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.

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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.

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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.

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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.

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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.

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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.

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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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