Citing Strong Job Market and Improving Economy, Fed Hikes
As was expected, the Federal Reserve on Wednesday raised interest rates by 0.25%, bringing the target range for the federal funds rate to 2.0%...
Dane Smith: Technology Will Become a Larger Factor in Non-QM
There’s more than $200 billion annually in un-met demand from U.S. borrowers who are creditworthy but don’t fit in the conventional or government credit box.
Freddie Mac Now Using DocMagic’s E-Vault Technology
Freddie Mac has implemented DocMagic’s SaaS-based e-vault technology and SmartREGISTRY platform.
DocMagic’s e-vault provides safe and secure storage for sensitive loan documents. It also automatically parses and...
Bipartisan Proposal to ‘Restart the Much-Needed Dialogue’ on GSE Reform
Seeking to “restart the much-needed dialogue around housing finance reform,” U.S. Rep. Jeb Hensarling (R-Texas), chairman of the House Committee on Financial Services, along...
Freddie Mac Auctioning Four Pools of NPLs
Freddie Mac is auctioning four pools of non-performing loans (NPLs) with a combined unpaid principal balance of about $655 million.
The whole loans are currently...
Verus Mortgage Capital Announces Largest Non-QM RMBS Transaction in a Decade
Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-QM and investor lending solutions, reports that it has completed its sixth rated RMBS...
Home Prices Continued to Rise in June, Albeit More Slowly
U.S. home prices increased 0.3% on an adjusted basis in June compared with May and were up 6.2% compared with June 2017, according to...
Mortgage Capital Trading Now Integrated with Freddie Mac’s Selling Advisor
Mortgage Capital Trading (MCT), a provider of software for secondary market functions, reports that it has integrated its MCTlive! capital markets technology platform with Freddie...
Street Solutions Now Integrated with Promontory MortgagePath
Users of Street Solutions Inc.’s Loan Management System (LMS) should be interested to know that the system is now integrated with Promontory Fulfillment Services’...
Fannie Mae: Rising Home Prices Chipping Away at Consumer Confidence
Rising home prices are chipping away at consumer confidence in the housing market, Fannie Mae’s Home Purchase Sentiment Index shows.
The index fell in July...
Verus Mortgage Capital Raises Loan Amounts, DTIs For its Non-QM Loan Program
Verus Mortgage Capital, a non-QM correspondent investor backed by Invictus Capital Partners, recently increased loan amounts and debt-to-income ratios for its Investor Solutions Program.
Specifically,...
MCT Automates Tri-Party Agreement for Bid Tape AOT Loan Sale Executions
Mortgage hedge advisory and secondary marketing software firm Mortgage Capital Trading Inc. (MCT) says it has found a way to automate the Tri-Party Agreement...
Mel Watt Under Investigation for Alleged Sexual Harassment of FHFA Employee
Mel Watt, director of the Federal Housing Finance Agency (FHFA), is reportedly being investigated for alleged sexual harassment of an employee.
According to a Politico...
Fannie Mae Announces Winning Bidder on $6.14B Pool of RPLs
DLJ Mortgage Capital Inc. (Credit Suisse) is the winning bidder on a pool of approximately 26,900 reperforming loans totaling $6.14 billion in unpaid principal...
Verus Mortgage Capital Boosts Loan Amounts for Several Non-QM Programs
Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-prime lending solutions, has increased loan amounts for several of its non-QM programs and...
OpenClose Launches Mobile Version of DecisionAssist
Mortgage software firm OpenClose has launched DecisionAssist Mobile for Originators, a new app that instantly returns product and pricing decisions for both agency and...
Optimal Blue Buys Resitrader
Optimal Blue, a financial technology company that operates the nation’s largest digital mortgage marketplace, has acquired Resitrader, which operates a digital whole loan trading...
Trump Administration Advances Plan for Housing Finance Reform
The Trump Administration on Thursday introduced a housing finance reform plan that - similar to past proposals - would lessen the government's footprint in...
MIAC Updates VeriFi Due Diligence Platform
Mortgage Industry Advisory Corp. (MIAC), a provider of financial analytics solutions, recently released the newest version of its due diligence software platform, VeriFi 3.0.
The new version provides users...
FHFA Seeks Feedback on Proposed Capital Reserve Structure For Fannie, Freddie
How much capital should government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac have in their reserves in order to adequately protect taxpayers from a...