Home sales for July decreased slightly from the previous month after increasing for four months in a row, according to the July 2014 RE/MAX National Housing Report released on August 14. Meanwhile, home prices fell marginally month-over-month but increased year-over-year.
Read More »Fixed Mortgage Rates Sink Slightly
The average rate for 30-year fixed-rate mortgages (FRMs) dropped to a year-low 4.12 percent with an average 0.6 point for the week ending August 14, according to Freddie Mac, down from 4.14 percent from the week ending August 7 and from 4.40 percent from the same week in 2013.
Read More »Mortgage Applications See Slight Decrease
The Mortgage Bankers Association (MBA) reported a 2.7 percent decrease in mortgage application volume from a week earlier in its Weekly Mortgage Applications Survey for the week ending August 8. Both the Refinance Index and the Purchase Index both fell to their lowest levels in months, dropping 4 percent and 1 percent, respectively.
Read More »GuardianDocs VP to Lead Colorado Lenders’ Group
The Colorado Mortgage Lenders Association (CMLA) has named Erik Anderson as its new president.
Read More »GSE Reform? Not Anytime Soon
While policymakers have made some headway in pushing through different GSE reform packages, a new report from Kroll Bond Rating Agency contends any reform legislation is unlikely to pass through Congress before the 2016 general election at the earliest.
Read More »Atlanta Lender to Pay $19.3M in Alleged Bait and Switch
The Consumer Financial Protection Bureau has targeted an Atlanta-based online lender to pay up for its role in an alleged bait and switch scheme. AmeriSave, its affiliate, Novo Appraisal Management Companies, and the CEO/owner of both companies, Patrick Markert, were penalized for misleading consumers by advertising fraudulent low rates and then failing to honor those rates once the consumers were locked in.
Read More »Black Knight Integrates Core Technologies
Black Knight Financial Services recently announced the integration of two of its core technologies, Closing Insight and Empower, in order to make the mortgage loan closing process smoother for lenders.
Read More »Walter Investment Reports Unadjusted Loss for Q2
Walter Investment Management announced Monday that the company experienced a net loss of $12.9 million for Q2 2014. The company's net income was $45.0 million after adjustments made for goodwill impairment charges in the reverse mortgage segment and reductions in the company's servicing rights' fair value, regarding chances in valuation inputs.
Read More »ALFN Promotes from Within for New President and CEO
The American Legal and Financial Network (ALFN), a national network of legal and residential mortgage banking professionals, announced on that its COO, Matt Bartel, has been promoted to be the president and CEO of the organization.
Read More »Fifth Third to Pay $1.52M in Discrimination Settlement
Fifth Third Bancorp has reached a settlement agreement with the Justice Department in which it will pay more than $1.5 million over allegations of loan discrimination against applicants with disability status. "Today's announcement holds lending institutions accountable for their actions, and is a reminder that every American has the right to apply for a home loan and live in the community of their choice," said Gustavo Velasquez at HUD.
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