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TransUnion: Mortgage delinquencies reach lowest level since recession

Posted 22 February 2018 | By | Categories: Boston Condos | No Comments

The serious mortgage delinquency rate decreased in the final quarter of 2017 to the lowest point since the Great Recession. TransUnion explained this largely reflects recession-era defaults having worked their way out of the system and recent originations being underwritten to a very high standard. https://www.housingwire.com/articles/42562-transunion-mortgage-delinquencies-reach-lowest-level-since-recessionRead More

HUD awards $35 million to promote housing independence

Posted 22 February 2018 | By | Categories: Boston Condos | No Comments

In order to help low-income residents earn housing independence, the U.S. Department of Housing and Urban Development announced an award of $35 million. HUD claims the funding will help housing organizations hire or retain service coordinators who help residents find jobs, educational opportunities and help residents achieve economic and housing independence. https://www.housingwire.com/articles/42567-hud-awards-35-million-to-promote-housing-independenceRead More

Loan Officers: Teach your Realtor partners how to fish

Posted 22 February 2018 | By | Categories: Boston Condos | No Comments

[Op-ed] What I always tell my MLOs, is teach your Realtors how to fish. What do I mean by that? Simply stated, is that instead of giving them that “one-off lead,” teach them a strategy or tactic that will get them multiple leads per year. In this case, learn how to do Facebook Lead Ads for Real Estate. https://www.housingwire.com/blogs/1-rewired/post/42569-loan-officers-teach-your-realtor-partners-how-to-fishRead More

Nationwide adoption of online notarization just took a big step forward

Posted 22 February 2018 | By | Categories: Boston Condos | No Comments

One of the main things standing in the way of a fully digital mortgage in many states is the requirement for a notary to witness the signing of the mortgage closing documents. Currently, only four states allow online notarization, but it appears that the push to take online notarization nationwide is about to take a huge step forward. https://www.housingwire.com/articles/42570-nationwide-adoption-of-online-notarization-just-took-a-big-step-forwardRead More

Movement Mortgage after company layoffs: We are not reducing our staff

Posted 22 February 2018 | By | Categories: Boston Condos | No Comments

Monday, reports began to circulate across news outlets that last week, Movement Mortgage quietly laid off 75 of its employees from various offices across the U.S. However, the company explained that it is not reducing its staff, and its overall employment increased by 201 net jobs over the past 12 months. https://www.housingwire.com/articles/42571-movement-mortgage-after-company-layoffs-we-are-not-reducing-our-staffRead More

House Democrats push Equifax to provide more protection for data breach victims

Posted 22 February 2018 | By | Categories: Boston Condos | No Comments

In the wake of the massive data breach that exposed the personal information of 145.5 million U.S. consumers to hackers, Equifax offered to provide a number of services to the affected consumers, including one year of identity theft protection. But, in the eyes of all 19 Democrats on the House Committee on Oversight and Government Reform, Equifax is not doing enough to make those consumers whole again. https://www.housingwire.com/articles/42572-house-democrats-push-equifax-to-provide-more-protection-for-data-breach-victimsRead More

Moody’s: Appraisal alternatives pose new credit risks

Posted 22 February 2018 | By | Categories: Boston Condos | No Comments

The use of technological alternatives to traditional residential property appraisals is likely to expand in the coming months and years, yet it could bring risk to the mortgage industry, or so says a new report from Moody’s Investors Service. Here’s why. https://www.housingwire.com/articles/42573-moodys-appraisal-alternatives-poses-new-credit-risksRead More

Ditech Holding Corp. picks "seasoned turnaround professional" Jeffrey Baker as new CEO

Posted 22 February 2018 | By | Categories: Boston Condos | No Comments

For the fifth time in just over two years, Ditech Holding Corp., which was known as Walter Investment Management Corp. until very recently, has a new CEO. The nonbank announced Tuesday that it is elevating “seasoned turnaround professional” Jeffrey Baker from chief operating officer to serve as interim CEO and president. https://www.housingwire.com/articles/42574-ditech-holding-corp-picks-seasoned-turnaround-professional-jeffrey-baker-as-new-ceoRead More

Flagstar Bank to acquire Santander Bank's mortgage warehouse loan portfolio

Posted 22 February 2018 | By | Categories: Boston Condos | No Comments

Flagstar Bank announced Tuesday it has signed a definitive agreement to purchase a mortgage warehouse loan portfolio from Santander Bank. As part of the transaction, Flagstar will bring on Santander’s existing relationship managers, adding the employees to its warehouse business, the company explained in a release. https://www.housingwire.com/articles/42575-flagstar-bank-to-acquire-santander-banks-mortgage-warehouse-loan-portfolioRead More

Monday Morning Cup of Coffee: Countrywide, LandSafe accused of fraudulent appraisals during housing boom

Posted 21 February 2018 | By | Categories: Boston Condos | No Comments

In today’s Monday Morning Cup of Coffee: A federal judge recently granted class-action status to a lawsuit alleging that Countrywide Financial used LandSafe to conduct “sham” appraisals to increase the number of loans Countrywide originated during the mid-2000s. Plus, former Trump campaign manager Paul Manafort was accused of some mortgage misconduct. Click the headline for more. https://www.housingwire.com/blogs/1-rewired/post/42556-monday-morning-cup-of-coffee-countrywide-landsafe-accused-of-fraudulent-appraisals-during-housing-boomRead More

New Penn Financial expands into Nevada with launch of Synergy Home Mortgage

Posted 21 February 2018 | By | Categories: Boston Condos | No Comments

New Penn Financial, a mortgage lender that is owned by Shellpoint Partners, announced Monday that it is expanding into Nevada by launching Synergy Home Mortgage. Synergy Home Mortgage is a joint venture between New Penn and local real estate firms Dickson Realty and Ferrari-Lund Real Estate. https://www.housingwire.com/articles/42557-new-penn-financial-expands-into-nevada-with-launch-of-synergy-home-mortgageRead More

UWM launches virtual eClosings for purchases in 16 states

Posted 21 February 2018 | By | Categories: Boston Condos | No Comments

United Wholesale Mortgage announced it is expanding its virtual eClosings to borrowers in 16 states, and making the option available to purchase borrowers. The company explained its virtual eClosing is available in 16 states now and it expects this will be the way all closings are done in the near future. https://www.housingwire.com/articles/42558-uwm-launches-virtual-eclosings-for-purchases-in-16-statesRead More

Former BB&T market president convicted of conspiring with real estate developer to defraud bank

Posted 21 February 2018 | By | Categories: Boston Condos | No Comments

A former market president at BB&T conspired with a real estate developer to defraud the bank out of hundreds of thousands of dollars in a scheme that involved issuing multiple loans to the developer’s daughter, a federal jury ruled late last week. https://www.housingwire.com/articles/42559-former-bbt-market-president-convicted-of-conspiring-with-real-estate-developer-to-defraud-bankRead More

Fed’s Powell reportedly names two senior advisers

Posted 21 February 2018 | By | Categories: Boston Condos | No Comments

Recently confirmed Federal Reserve Chairman Jerome Powell has reportedly made his first staff moves, naming monetary policy specialists Jon Faust and Antulio Bomfim to senior adviser roles. Both Faust and Bomfim have previously held roles at the central bank. https://www.housingwire.com/articles/42560-feds-powell-names-two-senior-advisersRead More

U.S. takes 4th place in renter population growth

Posted 21 February 2018 | By | Categories: Boston Condos | No Comments

The U.S. isn’t the only nation that’s seen an increase in renters and decrease in homeownership over a period of five years from 2010 to 2015. In fact, one country even saw a switch from a homeowner dominated population to a renter population during that time period. https://www.housingwire.com/articles/42561-us-takes-4th-place-in-renter-population-growthRead More

MBA boosts commercial/multifamily team with pair of hires

Posted 21 February 2018 | By | Categories: Boston Condos | No Comments

The Mortgage Bankers Association recently enhanced its commercial/multifamily team with a pair of experienced hires. Sharon Walker joined the MBA in late January as the associate vice president of multifamily. Also joining the MBA is Andrew Foster, who will serve as director, commercial/multifamily. https://www.housingwire.com/articles/42563-mba-boosts-commercialmultifamily-team-with-pair-of-hiresRead More

Four Californians accused of running mortgage fraud scheme that targeted minorities

Posted 21 February 2018 | By | Categories: Boston Condos | No Comments

Four Californians face a total of 194 charges for allegedly operating a mortgage fraud scheme that preyed on distressed minority borrowers who were seeking help with paying off their mortgages. According to the indictment, between 2012 and 2017, they used a fake insurance company called SafeCare, claiming to offer mortgage aid to primarily minority families for a low monthly fee. https://www.housingwire.com/articles/42564-four-californians-accused-of-running-mortgage-fraud-scheme-that-targeted-minoritiesRead More

Mortgage debt surges in fourth quarter

Posted 21 February 2018 | By | Categories: Boston Condos | No Comments

Mortgage debt surged in the fourth quarter of 2017 but remains far from its previous peak level. The report explained that unlike overall debt balances, which surpassed their previous 2008 peak last year, mortgage debt remains 4.4% below its peak level. https://www.housingwire.com/articles/42565-mortgage-debt-surges-in-fourth-quarterRead More

USA Mortgage transfers company ownership to employees

Posted 21 February 2018 | By | Categories: Boston Condos | No Comments

Residential lender USA Mortgage has announced the company has transferred ownership from its sole owner, President and CEO Douglas Schukar, to employees in the form of an employee stock ownership plan. https://www.housingwire.com/articles/42566-usa-mortgage-transfers-company-ownership-to-employeesRead More

What We’re Reading: February 12-16

Posted 18 February 2018 | By | Categories: Boston Condos | No Comments

Winter Olympics, humor, robotics, flu, disclosure, managers, and building materials. Wonder what the Winter Olympics has looked like throughout the years? We have you covered. Librarians are the best. Clever girl. Tomi Lattu/flickr/2014 If you didn’t have time for a flu shot this year, here’s another approach to protecting against the flu. Alleged failure to disclose is proving to be a horror story for all parties involved in this transaction. Do you possess these 10 managerial skills? Would you add to the list? Need to increase your productivity? Take a break. This Japanese tower will be constructed with…wood?   http://feedproxy.google.com/~r/InfocentralBlog/~3/MAYUUj2svfM/Read More

New home construction sets strong pace for 2018

Posted 18 February 2018 | By | Categories: Boston Condos | No Comments

Housing starts increased in January, starting 2018 off at a strong pace; however, it is unclear if that pace will continue. While some experts are predicting a booming year for housing starts, others say January’s pace could have been better. https://www.housingwire.com/articles/42547-new-home-construction-sets-strong-pace-for-2018Read More

Better Mortgage becomes billion-dollar originator

Posted 18 February 2018 | By | Categories: Boston Condos | No Comments

Online lender Better Mortgage, which launched in January 2016, recently surpassed $1 billion in mortgage originations. According to data provided by the company, Better Mortgage claims it was the third fastest online lender to reach $1 billion in originations, trailing only Goldman Sachs’ Marcus and SoFi. https://www.housingwire.com/articles/42549-better-mortgage-becomes-billion-dollar-originatorRead More

Shellpoint Partners’ New Penn Financial promotes Kevin Harrigan to president

Posted 18 February 2018 | By | Categories: Boston Condos | No Comments

New Penn Financial, a mortgage lender that is owned by Shellpoint Partners, announced recently that it promoted Kevin Harrigan to president. According to the company, Shellpoint’s looming acquisition by New Residential Investment Corp. provided the impetus for Harrigan’s promotion. https://www.housingwire.com/articles/42550-shellpoint-partners-new-penn-financial-promotes-kevin-harrigan-to-presidentRead More

Morningstar Credit Ratings names Brian Grow president

Posted 18 February 2018 | By | Categories: Boston Condos | No Comments

Morningstar Inc., the parent company of Morningstar Credit Ratings, announced this week that Brian Grow has been named president of the credit rating agency. He will now oversee the day-to-day operations of Morningstar’s credit ratings business. https://www.housingwire.com/articles/42551-morningstar-credit-ratings-names-brian-grow-presidentRead More

Do you make enough to buy a home in America’s most expensive cities?

Posted 18 February 2018 | By | Categories: Boston Condos | No Comments

As home prices rise across the U.S., and wage increases fail to keep up, affordability continues to slip. Using data from the National Association of Realtors, here are the top seven most expensive cities in the U.S., and how much homebuyers need to earn in annual income to afford to buy a home. https://www.housingwire.com/articles/42552-do-you-make-enough-to-buy-a-home-in-americas-most-expensive-citiesRead More