Missouri Community Bank Is Shut Down
Glasgow Savings Bank, based in Glasgow, Mo., was closed by the Missouri Division of Finance. The Federal Deposit Insurance Corp. (FDIC), which was...
Auction.com Names Monte Koch Co-CEO
Auction.com has announced that Monte Koch, a founding partner and board member, will take on the additional role of co-CEO. Koch, who has...
CFPB Operations Create Concern Among In-House Lawyers
Uncertainty about how the Consumer Financial Protection Bureau (CFPB) will interact with other federal agencies, coupled with agitation on how the agency will...
FinCEN Finds Chicanery Within Title And Escrow Companies
The Financial Crimes Enforcement Network (FinCEN) has identified thousands of instances where financial institutions, particularly banks and money services businesses (MSBs), filed suspicious...
Impac To Offer Reverse Mortgages
Irvine, Calif.-based Impac Mortgage is adding reverse mortgages to its product offerings. Initially, the company's focus will be on providing this product on...
Data Confirms Strong First Half Of 2012 For REIT Industry
The U.S. real estate investment trust (REIT) industry outperformed the broader equity market during the first half of this year, according to data...
British Lender Denies Mortgages To Payday Loan Borrowers
A British lender specializing in subprime loans has announced that it will not originate mortgages for borrowers who had a payday loan during...
IDS Creates User Group To Assist In Product Development
International Document Services (IDS), a Salt Lake City-based mortgage document preparation vendor, has formed an advisory board of IDS customers to solicit feedback...
Italian Mortgage Market Experiences Extreme Q1 Decline
Home loan origination volume in Italy fell 47% during the first quarter of this year, according to a new study. Bloomberg News reports...
Massachusetts AG Investigating LIBOR Scandal Impact
The British scandal involving the manipulation of the London Interbank Offered Rate (LIBOR) has crossed the Atlantic and is now involving Massachusetts Attorney...
Fixed-Rate Mortgages Continue To Reach Record Lows
Both the average 30-year and 15-year fixed-rate mortgage (FRM) hit new lows, according to data from Freddie Mac. The 30-year FRM averaged 3.56%...
New Survey Predicts Declining Home Prices In Australia
The Australian housing market is expected to continue facing a decline in home prices for the next 12 months, according to a new...
MBA: Rewrite The QM Rule
The Mortgage Bankers Association (MBA) has renewed its calls to broaden the Qualified Mortgage (QM) rule in order to prevent potential borrowers from...
Wells Fargo Shuts Down Wholesale Channel, Settles Discrimination Case
San Francisco-based Wells Fargo & Co. has announced that it will discontinue funding mortgages that are originated, priced and sold by independent mortgage...
San Jose Named Top Seller’s Market By Zillow
To borrow a line from Dionne Warwick: Do you know the way to San Jose? Because if you're looking for the best place...
NYC Seeks Designs For ‘Micro-Unit’ Apartments
New York City's tight real estate market is getting tighter - literally! The New York Times reports that the city is sponsoring a...
Report Finds Continuing Collusion Fraud Activity In Mortgage Banking
There is evidence of persistent collusion fraud activity in mortgage banking during the past three years, according to the 14th Annual Mortgage Fraud...
Royal LePage: Canadian Housing Market At ‘Turning Point’
The average price of a home in Canada increased year-over-year between 3.3% and 5.5% in the second quarter of this year, according to...
MBA: Mortgage Applications Down 2.1% Last Week
Mortgage applications decreased 2.1% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) weekly mortgage applications survey for the...
CFPB Proposes New Mortgage Disclosure Forms
The Consumer Financial Protection Bureau (CFPB) is putting forward new mortgage disclosure forms for consumers, while simultaneously proposing a new rule designed to...