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Existing home sales hit highest pace since summer months

Posted 23 November 2017 | By | Categories: Boston Condos | No Comments

Home sales increased in October, however they remained below last year’s levels for the second consecutive month. Experts explained the market continues to struggle with rising home prices and limited inventory, problems which will continue to plague the market into next year. https://www.housingwire.com/articles/41868-existing-home-sales-hit-highest-pace-since-summer-monthsRead More

Here are the changes to California's Homeowner Bill of Rights you need to know

Posted 23 November 2017 | By | Categories: Boston Condos | No Comments

[Expert commentary] Riddled throughout California’s Homeowner Bill of Rights are the words “repealed” effective “Jan. 1, 2018.” Unfortunately, many loan servicers assume that means the entire HOBR will be repealed and that all they have to worry about going forward is complying with the Consumer Financial Protection Bureau Loss Mitigation Rules. Unfortunately, that is not the case. Check out this in-depth list of changes to look out for. https://www.housingwire.com/blogs/1-rewired/post/41870-here-are-the-changes-to-californias-homeowner-bill-of-rights-you-need-to-knowRead More

PHH vs. CFPB: Cordray won't be around to see the outcome of the case

Posted 23 November 2017 | By | Categories: Boston Condos | No Comments

With Consumer Financial Protection Bureau Director Richard Cordray only a handful of days away from officially leaving his position, the director probably won’t be around to see the outcome of the controversial PHH vs. CFPB case. Interestingly enough, the court’s decision might have unseated him as director anyway. https://www.housingwire.com/articles/41869-phh-vs-cfpb-cordray-wont-be-around-to-see-the-outcome-of-the-caseRead More

Freddie Mac: Housing still on track for best year in a decade

Posted 23 November 2017 | By | Categories: Boston Condos | No Comments

Freddie Mac adjusted its prediction for home starts in 2017 and said home sales are still on track for their best year in a decade. And while it predicted conditions for mortgages will get worse in 2018, Freddie Mac forecasted home sales will continue to grow. https://www.housingwire.com/articles/41871-freddie-mac-housing-still-on-track-for-best-year-in-a-decadeRead More

Minnesota man gets 10 years for housing fraud involving North Dakota fracking workers

Posted 23 November 2017 | By | Categories: Boston Condos | No Comments

A Minnesota man will spend the next 10 years in prison after being convicted of stealing more than $2.1 million from investors by promising them he planned to build and develop alternative housing for oil workers during the height of the shale drilling boom in North Dakota and Montana. https://www.housingwire.com/articles/41874-minnesota-man-gets-10-years-for-housing-fraud-involving-north-dakota-fracking-workersRead More

New American Funding expands in New Mexico

Posted 23 November 2017 | By | Categories: Boston Condos | No Comments

New American Funding announced it is expanding its territory with a new branch in the Southwest. This branch, the company’s first in Santa Fe, New Mexico, will provide a wide range of purchase and refinance products, including a diverse offering of niche products. https://www.housingwire.com/articles/41875-new-american-funding-expands-in-new-mexicoRead More

Cloudvirga names Stephen DeSantis chief financial officer

Posted 23 November 2017 | By | Categories: Boston Condos | No Comments

Cloudvirga, a provider of mortgage process automation, announced Tuesday that the company hired Stephen DeSantis to serve as its new chief financial officer. In this role, DeSantis will be responsible for “driving Cloudvirga’s financial strategies to accelerate its growth.” https://www.housingwire.com/articles/41877-cloudvirga-names-stephen-desantis-chief-financial-officerRead More

Goldman Sachs predicts 4 rate hikes in 2018

Posted 22 November 2017 | By | Categories: Boston Condos | No Comments

Goldman Sachs updated its forecast for next year, predicting that rising inflation and a tight labor market will cause the Federal Reserve to raise rates four times. This is more increases than Wall Street expects, but other economists agree with Goldman’s forecast. https://www.housingwire.com/articles/41858-goldman-sachs-predicts-4-rate-hikes-in-2018Read More

NAFCU to CFPB: It's time to roll back regulations with Cordray's departure

Posted 22 November 2017 | By | Categories: Boston Condos | No Comments

With the future of the CFPB up in the air now that Director Richard Cordray will step down by the end of the month, the National Association of Federally-Insured Credit Unions took the opportunity to reiterate a message the group has long stressed: Credit unions are over-regulated. NAFCU outlined nine areas in which the bureau could improve its operations and provide some relief to credit unions. https://www.housingwire.com/articles/41859-nafcu-to-cfpb-its-time-to-roll-back-regulations-with-cordrays-departureRead More

Yellen announces resignation from Federal Reserve Board of Governors

Posted 22 November 2017 | By | Categories: Boston Condos | No Comments

Fed Chair Janet Yellen, who was appointed to the Board by former President Barack Obama to serve until January 21, 2024, announced Monday she will resign from the Fed upon the swearing in of her successor. Although Yellen’s term was not set to expire until 2024, she will now step down from her position early next year. https://www.housingwire.com/articles/41862-yellen-announces-resignation-from-federal-reserve-board-of-governorsRead More

Federal inmate gets 16 more years for orchestrating house thefts while in prison

Posted 22 November 2017 | By | Categories: Boston Condos | No Comments

A man already incarcerated in federal prison had 16 more years tacked onto his sentence after he was found guilty of masterminding a scheme to steal numerous houses in Philadelphia, all while he was in prison. https://www.housingwire.com/articles/41863-federal-inmate-gets-16-more-years-for-orchestrating-house-thefts-while-in-prisonRead More

Industry veterans launch Chicago-based bemortgage

Posted 22 November 2017 | By | Categories: Boston Condos | No Comments

The list of players in the mortgage industry continues to grow, as a group of industry veterans announced the launch of bemortgage. The group brings more than 100 years of combined mortgage experience to the new Chicago-based mortgage company. https://www.housingwire.com/articles/41864-industry-veterans-launch-chicago-based-bemortgageRead More

First Community Mortgage raises $60,000 in charity golf tournament

Posted 22 November 2017 | By | Categories: Boston Condos | No Comments

First Community Mortgage raised more than $60,000 for local charities at the recent Tyler Morrissey Golf Tournament in Murfreesboro, Tennessee. The charities benefiting from the tournament include Christmas for the Children, Baylor Bramble Family, a domestic violence center, Court Appointed Special Advocates and FCM Cares/JC Gordon Memorial Scholarship. https://www.housingwire.com/articles/41865-first-community-mortgage-raises-60000-in-charity-golf-tournamentRead More

Guild Mortgage expands in Midwest with three branch openings

Posted 22 November 2017 | By | Categories: Boston Condos | No Comments

Guild Mortgage announced it is opening three new locations in North Dakota. And the company’s plans for expansion don’t stop there. Continuing its momentum from 2016 when the company came in 15th in the nation by total number of loans, the company will open several new North Dakota locations within the next year. https://www.housingwire.com/articles/41867-guild-mortgage-expands-in-midwest-with-three-branch-openingsRead More

Monday Morning Cup of Coffee: Drama heats up in gubernatorial race for Ohio governor

Posted 21 November 2017 | By | Categories: Boston Condos | No Comments

Speculation continues to rise over which city Amazon will choose as its second headquarters. Meanwhile, outgoing CFPB Director Richard Cordray’s likely entry into the Ohio gubernatorial race isn’t the only drama surrounding the state’s upcoming election. All that, and more, in your Monday Morning Cup of Coffee. https://www.housingwire.com/blogs/1-rewired/post/41857-monday-morning-cup-of-coffee-drama-heats-up-in-gubernatorial-race-for-ohio-governorRead More

What We’re Reading: Nov. 13-17

Posted 18 November 2017 | By | Categories: Boston Condos | No Comments

Thanksgiving prep, design, and tech. This marvelous product from Stove Top is sold out, but maternity pants should still do the trick. Just a reminder for the novice Thanksgiving chefs out there that the Butterball Hotline really does exist. grassrootsgroundswell/flicker/2011 Don’t mistake us for ungrateful, but we wish we worked in this library! Gaudi’s La Sagrada Familia might still be under construction, but this one is done and is open to the public! What a beautiful repurposing of space. Take a peek at what the future holds for housing. These uniforms are out of this world! We bet our CRT Labs friends will plan a trip to this town once it’s up and running. Ever feel like your digital life is out of control? Maybe it’s time to detox.       http://feedproxy.google.com/~r/InfocentralBlog/~3/e8qDuR8uU5Q/Read More

Shocker: Wells Fargo fires head of consumer lending for misconduct

Posted 18 November 2017 | By | Categories: Boston Condos | No Comments

It appears that Wells Fargo’s season on the brink is far from over. The bank struggled since the revelation of its fake account scandal, and the bad news isn’t over yet. The troubled bank just fired Franklin Codel, the head of the bank’s consumer lending division, for misconduct. https://www.housingwire.com/articles/41845-shocker-wells-fargo-fires-head-of-consumer-lending-for-misconductRead More

New home construction increases to meet rising demand

Posted 18 November 2017 | By | Categories: Boston Condos | No Comments

Housing starts increased significantly in October, rising 13.7%, however experts are torn about the reason for the increase, and if it will continue. While some say it is a temporary change due to the recent hurricanes, others point out factors that show housing construction will continue to increase. https://www.housingwire.com/articles/41846-new-home-construction-increases-to-meet-rising-demandRead More

Origination channel sets focus on Hispanic borrowers

Posted 18 November 2017 | By | Categories: Boston Condos | No Comments

[Sponsored Content] Mortgage servicer DEVAL recently expanded its offerings to include mortgage loan origination, focusing on lending to the underserved Hispanic community, a fast-growing segment of homeowners. https://www.housingwire.com/articles/41847-origination-channel-sets-focus-on-hispanic-borrowersRead More

Built raises $21 million, aims to revolutionize construction lending

Posted 18 November 2017 | By | Categories: Boston Condos | No Comments

Built, a provider of construction lending automation software and a 2017 HW Tech100 honoree as one of the top technology companies in the housing industry, announced this week that it raised $21 million that it plans to use to “transform” the construction lending industry. https://www.housingwire.com/articles/41848-built-raises-21-million-aims-to-revolutionize-construction-lendingRead More

Ohio Dems bank on Richard Cordray running for governor

Posted 18 November 2017 | By | Categories: Boston Condos | No Comments

Though Consumer Financial Protection Bureau Director Richard Cordray has remained mum on a possible run for Ohio governor, Democrats in the state are already banking on him running. While some publications focused on the news of Cordray stepping down from his position on Wednesday, Ohio news publications all but confirmed that Cordray will run for Ohio governor. https://www.housingwire.com/articles/41849-ohio-dems-bank-on-richard-cordray-running-for-governorRead More

Lender Service Provider rebrands as Lenderworks

Posted 18 November 2017 | By | Categories: Boston Condos | No Comments

Lender Service Provider, which provides consulting and infrastructure outsourcing solutions for companies in the mortgage banking industry, announced Friday that it’s changing its name to Lenderworks. https://www.housingwire.com/articles/41850-lender-service-provider-rebrands-as-lenderworksRead More

Housing industry disappointed in House for passing tax reform bill

Posted 18 November 2017 | By | Categories: Boston Condos | No Comments

The House of Representatives passed its Tax Cuts and Jobs Act, sending it to the Senate, and now the industry is expressing its disappointment. However, as one expert points out, the fight isn’t over yet. https://www.housingwire.com/articles/41852-housing-industry-disappointed-in-house-for-passing-tax-reform-billRead More

HUD gives $5 billion for Hurricane Harvey recovery efforts in Texas

Posted 18 November 2017 | By | Categories: Boston Condos | No Comments

Department of Housing and Urban Development Deputy Secretary Pam Patenaude and Texas Gov. Greg Abbott announced Friday that HUD is providing more than $5 billion to the state of Texas to be used for the recovery efforts from Hurricane Harvey. https://www.housingwire.com/articles/41854-hud-gives-5-billion-for-hurricane-harvey-recovery-efforts-in-texasRead More

Senate Finance Committee just passed its own, major tax overhaul

Posted 18 November 2017 | By | Categories: Boston Condos | No Comments

After a week of marking up its tax reform plan, the Senate Finance Committee passed the bill, sending it to the full Senate to vote on. The bill will keep the current mortgage interest deduction cap at $1 million, however has drawn fire from the housing industry for doubling the standard deduction. https://www.housingwire.com/articles/41855-senate-finance-committee-just-passed-its-own-major-tax-overhaulRead More