Tag Archives: mortgage

Barclays Capital will pay more than $16 million in remediation and penalties in response to charges brought against the bank by the U.S. Securities and Exchange Commission. The charges alleged two Barclays traders misled customers and that the bank failed to properly supervise them. The traders have also agreed to individual settlements of their own.

Though Freddie Mac’s net income was lower this quarter than last, the GSE will still pay $2.2 billion in dividends to the U.S. Treasury for this quarter, according to its recent financial results report. The agency saw single-family revenues, purchase volumes, and mortgage-related investments all decline for Q1. These declines, according to Freddie Mac CEO Donald Layton, were due to steady interest rates and low market spreads

Fannie Mae’s gross mortgage portfolio increased at a compound annualized rate of 0.1 percent in March. In February, it decreased at an annualized rate of nearly 17 percent. Total aggregate unpaid principal balance on the GSE's mortgage portfolio was just under $269 billion—up about $30,000 over the month.

The average American renter can now purchase a home more expensive than the nation’s median home value, while keeping their monthly housing budget the same. This was true in 37 out of 50 markets analyzed. The current national median rent is $1,416 per month—just enough to handle the monthly costs of a property valued at $289,505, including property taxes, maintenance, and insurance payments.

SouthLaw, P.C. has expanded its team, bringing on Associate Attorney Lisa C. Billman for its Bankruptcy Department in Overland Park, Kansas. With a law degree from the University of Kansas School of Law, Billman has made bankruptcy her legal focus since her graduation in 2011. She is licensed to practice law in Missouri and Kansas

Black Knight has partnered with Lender Price to offer a completely digital loan application process on its LoanSphere Empower LOS. The platform lets consumers apply for mortgage loans via their mobile device, and it can even verify income, provide property valuations, and deliver real-time interest rates on the spot.

Mortgage fraud risk is up across the country, according to the CoreLogic National Mortgage Application Fraud Risk Index (FRI) for Q1 2017. The FRI is a measure of loan-application level fraud risk in the mortgage industry, based on residential mortgage loan applications processed by CoreLogic Loan Safe Fraud Manager. The index jumped 8 percent in Q1, up to 132 from 113 a year ago and 122 last quarter.

According to a new home price index, national housing prices have appreciated to a new post-crisis high as of February. With an index of $268,000 for the month, the U.S. saw its highest home price growth since June 2006. Prices rose 0.8 percent for the month and 5.7 percent over the year.

New data shows inventory is down 5 percent over the year, with the biggest decreases in Minneapolis, Columbus, and Seattle. Home values are up 6.8 percent year-over-year, hitting $196,500 for the month of March. Values appreciated most in Tampa, Dallas, and Seattle.

SunTrust Banks, Inc. reported its Q1 2017 results. The bank posted a net income of $451 million, or $0.91 per average common diluted share. This is a three percent increase over the previous quarter and a four percent year-over-year increase. The bank noted that higher mortgage-related income and investment-related income pushed the noninterest income up by $32 million.