COFI Bounces Off Record Low

Author:  //  Category: Mortgage

Just a month after declining to the lowest level on record, the 11th District Cost of Funds Index took a turn for the worse.

As of November of this year, COFI, an index for some legacy adjustable-rate mortgages, was calculated at 0.603 percent.

The index increased from a month earlier, when it stood at 0.598 percent — the lowest level on record based on data back to 1981.


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COFI Bounces Off Record Low

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TransUnion Reaches Advertising Settlement

Author:  //  Category: Mortgage

TransUnion has revealed that it has agreed to settle charges related to the marketing and sale of its consumer reports and credit scores.

Chicago-based TransUnion disclosed the $19.4 million settlement in a Form 8-K filing with the Securities and Exchange Commission.

The settlement includes $13.9 million in consumer redress, a $3.0 million civil penalty and $2.5 million in administrative and other costs.


TransUnion Reaches Advertising Settlement

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Brisk Pace of Integration Among LOS Providers

Author:  //  Category: Mortgage

Recent enhancements to loan origination systems for real estate finance have focused primarily on integrations with other mortgage technology service providers.

The 2016 LOS Technology Insight Survey found that 28 percent of home lenders were very satisfied with their LOS. The share rose from 27 percent in 2015.

Another 42 percent indicated they were somewhat satisfied, while an additional 30 percent were not satisfied with their LOS — up from 29 percent the prior year.


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Who can put the Gini in the bottle?

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… to mis-selling of mortgage-backed securities (a.k.a. sub-prime mortgages) — Deutche Bank and … the victims/investors in securitised mortgage loans. That seems to provide …

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Who can put the Gini in the bottle?

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Fort Collins-based Company FVC Americas Opens “Mesh Fort Collins”, Keeps Old Town Co-working Space Operational in 2017

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FVC Americas Saves Co-working Space at 242 Linden Street, Seeks to Minimize Disruption During Transition, Enhance Regional Venture Community Through Networks

FORT COLLINS, COLORADO, USA, December 29, 2016 /EINPresswire.com/ — FVC Americas (FVCA, dba of …

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Fort Collins-based Company FVC Americas Opens “Mesh Fort Collins”, Keeps Old Town Co-working Space Operational in 2017

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Fannie Delinquency Rises 1st Time in Nearly 7 Years

Author:  //  Category: Mortgage

After falling to the lowest level in over eight years, delinquency rose for the first time in almost seven years at the Federal National Mortgage Association.

The Washington-based organization reported in its monthly summary that its total book of business concluded November 2016 at $3.1376 trillion.

Fannie Mae’s book of business expanded from $3.1297 trillion as of one month earlier and has also grown from $3.0999 trillion as of one year earlier.


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Fannie Delinquency Rises 1st Time in Nearly 7 Years

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Mortgage Rates Little Changed, Likely to Fall

Author:  //  Category: Mortgage

There was little movement in fixed rates on residential loans during the past week, and the outlook is for a nice improvement over the next seven days.

On conforming purchase-money mortgages, 30-year fixed rates averaged 3.80 percent in November, the Federal Housing Finance Agency reported.

Thirty-year rates worsened 4 basis points from a month earlier. FHFA’s survey reflects rates on 4,344 loans closed in the last five days of last month.


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Former HUD Secretary Calls Carson Strong Fit

Author:  //  Category: Mortgage

While advocates for low-income and public-housing residents are alarmed at the prospective head of the Department of Housing and Urban Development, one former HUD secretary is not.

President-elect Donald J. Trump has indicated that he intends to nominate former Republican presidential rival and neurosurgeon Ben Carson to be the next secretary of HUD.

But Carson faces two concerns. First, some worry that he is underqualified to run the federal housing agency. The second is that his conservative views will point HUD in the wrong direction.


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TIS’ THE SEASON FOR GIVING, EW FOUNDATION SECURES $17,500 IN ADDITIONAL UNDERWRITING FOR EDUCATION OUTREACH PROGRAMS

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Developing Character and Promoting Strong Social Skills to Children in Low-Income Communities

PALM BEACH, FL, USA, December 29, 2016 /EINPresswire.com/ — EW Foundation Inc., a 501(3)(c) nonprofit, announced today that it recently secured $17,500 in …

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TIS’ THE SEASON FOR GIVING, EW FOUNDATION SECURES $17,500 IN ADDITIONAL UNDERWRITING FOR EDUCATION OUTREACH PROGRAMS

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PHH Selling All MSRs

Author:  //  Category: Mortgage

PHH Corp. has disclosed that it has reached an agreement to sell its entire portfolio of mortgage servicing rights, though it will subservice the loans.

On Wednesday, the Mount Laurel, New Jersey-based firm announced that a deal was negotiated to sell MSRs on $72 billion in loans as of Oct. 31.

Proceeds from the sale are estimated at $912 million, including $612 million from the MSR sales and around $300 million from servicing advances.


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PHH Selling All MSRs

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