When It Comes To Housing, ‘Affordability’ Is A Slippery Term
BLOG VIEW: RealtyTrac has a new report out which suggests that although student loan debt is at an all-time high, recent college graduates...
For Mortgage Bankers, Timing Of Reports Is Crucial
BLOG VIEW: Everyone knows the numbers are important, but which numbers really matter, especially to the people making the decisions? For mortgage bankers,...
FHFA Unveils Proposed Housing Goals For Fannie, Freddie
As required by the Housing and Economic Recovery Act of 2008, the Federal Housing Finance Agency (FHFA) has embarked its annual task of...
Matt Clarke: ‘No Second Chances In A Purchase Market’
PERSON OF THE WEEK: Matt Clarke is chief financial officer for Churchill Mortgage, a regional mortgage lender based in Brentwood, Tenn. MortgageOrb recently...
HARP’s Image Problem
BLOG VIEW: I couldn't help but chuckle when I watched a video of Mel Watt, director of the Federal Housing Finance Agency (FHFA),...
NAR: Pending Homes Sales Up 3.3% In July
Pending home sales increased 3.3% in July compared to June, but were still 2.1% below July 2013, the National Association of Realtors (NAR)...
Back In Black: Average Profit Per Loan Jumped To $954 In Q2
An increase in mortgage originations that made many lenders more operationally efficient helped boost the average net profit made on each loan closed...
OIG Report Says TBW Fraud Scheme Could Have Been Avoided
The elaborate mortgage fraud scheme perpetrated by lender Taylor, Bean and Whitaker (TBW) and its warehouse lender, Colonial Bank, which resulted in billions...
Goldman Sachs Settles With FHFA For $3.15 Billion
Goldman Sachs will pay $3.15 billion to repurchase poorly underwritten mortgage-backed securities that it sold to Fannie Mae and Freddie Mac in the...
Jeffrey Raff: New And Pending Servicing Rules Require ‘Layers Of Analysis’
PERSON OF THE WEEK: Jeffrey Raff is managing partner for Trott & Trott PC, a real estate finance law firm serving the mortgage...
CFPB Selects Vendors And Lenders For Its Mortgage E-Closing Pilot
The Consumer Financial Protection Bureau (CFPB) has revealed the vendors and lenders that will be participating in its mortgage e-closing pilot program, which...
BofA To Pay Nearly $17 Billion To Resolve Mortgage Bond Probe
Bank of America will reportedly pay nearly $17 billion to settle allegations brought by the U.S. Department of Justice (DOJ) that it packaged...
CFPB Reminds Servicers To Follow The Rules When Transferring MSRs
Due to its 'concern' over the 'continuing high volume of servicing transfers,' the Consumer Financial Protection Bureau (CFPB) is reminding mortgage servicers that...
Census Bureau: Housing Starts Jumped 15.7% In July
Housing starts jumped in July compared to June to reach the highest level in eight months, as home builder confidence improved, the U.S....
Kelly Booth: Lenders Doing Poor Job Of Leveraging Internet For Leads
PERSON OF THE WEEK: Kelly Booth is director of the mortgage unit at Velocify, a provider of sales automation software to the financial...
Top FHA Official Transitioning To The CFPB: Report
Patricia McClung is reportedly leaving her post as single-family housing policy advisor at the U.S. Department of Housing and Urban Development (HUD) to...
FHFA Seeks Feedback On Proposed Single Security For GSEs
The Federal Housing Finance Agency (FHFA) has unveiled its proposal to create a single, common security that would be issued and guaranteed by...
Leonard Ryan: Lenders Must Focus On RESPA/TILA, HMDA
PERSON OF THE WEEK: Leonard Ryan is founder and president of QuestSoft, a provider of automated compliance software to the mortgage banking industry....
New Treatment Of Medical Debt Could Raise Consumers’ FICO Scores
Certain consumers hoping to secure a mortgage for a home purchase may have just gotten a big break, as FICO is adjusting its...
Galante Leaving FHA For Berkeley Professorship
Carol Galante is reportedly stepping down as commissioner of the Federal Housing Administration (FHA) this fall so that she can take a professorship...