City icons reel in cash

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… of loans made by American sub-prime mortgage provider Household.
It was part …

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City icons reel in cash

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CFPB Loses RESPA Lawsuit

Author:  //  Category: Mortgage

A federal trial court has dismissed a lawsuit brought by the Consumer Financial Protection Bureau against a Kentucky law firm accused of violating the Real Estate Settlement Procedures Act’s anti-kickback provision. The court said the title agencies set up by the Louisville firm were permitted under RESPA’s “safe harbor” provision.

Borders & Borders, a law firm that does residential real estate closings, set up joint ventures with nine real estate service providers in Louisville in 2006, according to the court’s opinion. The Title LLCs served as title insurance agencies in real estate closings where the lender did not maintain an internal, lender-owned title agency, the court said.

The Title LLCs issued more than 1,000 title insurance policies from October 2009 to February 2011.


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Mortgage Demand Up as Standards Little Changed

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Over the past three months, customer demand for agency mortgages was stronger, according to a survey of bank executives. There was little change in credit standards.

The Federal Reserve Board released on Monday its July 2017 Senior Loan Officer Opinion Survey on Bank Lending Practices.

Participating in the survey this go around were 76 domestic banks and 22 U.S. branches and agencies of foreign banks. Banks with at least $20 billion in domestic assets were classified as “large.”


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Weekly Mortgage Market Index Climbs on Purchases

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New mortgage activity was driven higher by home purchase financing this past week. Also significantly improving was government business, which has expanded by nearly a fifth from a year ago.

A reading of 156 was recorded for Mortgage Daily’s U.S. Mortgage Market Index for the week ended July 28. The index provides insight into upcoming originations based on rate-lock volume at OpenClose.

A 3 percent rise in activity from the previous week was recorded for the index, which is not adjusted to reflect seasonal variations. Still, business was down by 11 percent versus the same week in 2016.


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Biggest Mortgage Lenders Q1 2017

Author:  //  Category: Mortgage

As home lending slowed in the first quarter of this year, credit unions took market share from non-bank originators. Just 10 lenders were responsible for nearly half of overall originations.

Mortgage bankers generated $353 billion in single-family loan originations during the period that started on Jan. 1, 2017, and concluded on March 31.

The total was based on an analysis of production data collected by Mortgage Daily for financial institutions and non-bank home lenders.


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1Dental $500 Scholarship Offering

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FORT WORTH , TX, UNITED STATES, July 31, 2017 /EINPresswire.com/ — Students can now apply for 1Dental’s $500 scholarship for the 2018 school year by visiting www.1dental.com/scholarship and filling out an application.

“At 1Dental, we …

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Servicing Portfolio Continues to Grow at Quicken

Author:  //  Category: Mortgage

Quicken Loans Inc.’s mortgage servicing portfolio continued to grow both on a quarter-over-quarter and year-over-year basis. Originations also increased.

As has been the case for many home lenders, Quicken participated in the Mortgage Daily Second Quarter 2017 Mortgage Origination Survey.

The report revealed that the Detroit-based mortgage-banking organization serviced $259.0 billion in single-family loans as of mid-year 2017.


Servicing Portfolio Continues to Grow at Quicken

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CMBS Loan Performance Recovers

Author:  //  Category: Mortgage

Just one month after delinquency on securitized commercial real estate loans jumped more than it had in years, it fell by nearly the same amount. Apartment loans, which fared worst last month, fared best this month.

The rate of 30-day delinquency on loans that are included in commercial mortgage-backed securities concluded July 2017 at 5.49 percent.

CMBS delinquency sank by 26 basis points compared to the preceding month, when the rate had moved higher for the third month in a row. The 28-basis-point increase in June was the highest since 2012.


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West Leads Rebound in Pending Home Sales

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After retreating for three consecutive months, the pipeline of pending home sales moved higher last month. Out front of the bounce was the West.

The U.S. Pending Home Sales Index was calculated to be 110.2 during June 2017. The index is a forward-looking indicator based on contract signings.

On a seasonally adjusted basis, that turned out to be 1.5 percent higher than in May 2017, when the index had moved lower three months in a row.


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BASCO Expands to New Shores in Western Australia and Thailand

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Marine Online Auctions appoints BASCO to new territories after exceeding expectations

SENTOSA COVE, SINGAPORE, July 31, 2017 /EINPresswire.com/ — BASCO, a trusted online boat auctions advisory and top independent boating consultancy based in …

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