Flush With Cash From Google Capital, Auction.com To Boost Mobile, Search and Marketing Efforts
Google Capital, the search giant's newest funding vehicle, has invested $50 million in Auction.com, marking its first investment in an online real estate...
CFPB Seeking Cure For ‘Zombie Foreclosures’
The Consumer Financial Protection Bureau (CFPB) is reportedly investigating how banks are handling 'zombie foreclosures' - homes in foreclosure that have been vacated...
Congress Passes Bill Limiting Flood Insurance Hikes
The U.S. Senate on Thursday approved a bipartisan measure that limits flood-insurance premium increases for property owners in coastal states. The Homeowner Flood...
David Abrahamson: Mortgage Industry Set To Contract In 2014
PERSON OF THE WEEK: David Abrahamson is chief operating officer with mortgage lender Equity Loans. MortgageOrb recently interviewed Abrahamson to get his views...
Proposed Housing Finance Reform Bill Builds On Corker-Warner Proposal
Senate Banking Committee Chairman Tim Johnson, D-S.D., and ranking member Mike Crapo, R-Idaho, have introduced a bipartisan housing finance reform bill that builds...
Fifth Third Bails On Wholesale Lending
Due to the 'significant changes within the mortgage industry over the past several years,' Cincinnati-based Fifth Third Bank - one of the country's...
Mark Ramirez: Product And Pricing Engine Space Faces Challenges, Opportunities
PERSON OF THE WEEK: Mark Ramirez is CEO of Rancho Santa Margarita, Calif.-based product and pricing engine (PPE) vendor Priceweaver. MortgageOrb recently interviewed...
FHA Looking To Avoid Second Treasury Draw
As was expected (and hoped for), it appears that the Federal Housing Administration (FHA) will not need another Treasury draw in order to...
Real Housewives Stars Plead Guilty To Mortgage Fraud
'Real Housewives of New Jersey' stars Teresa Giudice, 41, and Giuseppe 'Joe' Giudice, 43, both of Towaco, N.J., have each pleaded guilty in...
Jumbo Leads The Way To Widespread Private Investor Market
Jumbo is back and is increasing market share in a big way. Recent rates for jumbo mortgages have been either close to or...
CFPB Reform Bill Passes In House
By a mostly party line vote, the U.S. House of Representatives late Thursday approved a Republican-backed bill that would substantially change the way...
John Walsh: Automation Is Key To Comprehensive Property Valuation
PERSON OF THE WEEK: John Walsh is president of San Diego-based property data and analytics company DataQuick. MortgageOrb recently interviewed Walsh to learn...
Moody’s: Halting MSR Deals Could Push Servicers Into ‘Non-Prime’ Lending
Moody's has issued a report citing concern that non-bank mortgage servicers might start originating risky or 'non-prime' loans if regulators start limiting their...
JPMorgan To Slash Another 8,000 Jobs; 6,000 In Mortgage Division
JPMorgan is reportedly eliminating up to 8,000 jobs, including about 6,000 in its mortgage division, and is lowering its profitability target. According to...
Clear Capital Downsizes After Exiting ‘Unprofitable Line Of Business’
BLOG VIEW: I got an email from a reader on Monday who said he had caught wind of a 'mass layoff' at Truckee,...
CFPB Fines Connecticut Mortgage Lender For RESPA Violations
First Alliance Lending, a small mortgage lender based in Connecticut focused on providing loss mitigation financing to distressed borrowers, will pay an $83,000...
Stanley Street: Regulations Could Have Big Impact On Warehouse Lending
PERSON OF THE WEEK: Stanley Street is president of Street Resource Group, which provides information systems and business process consulting to the financial...
Antonakes: ‘Groundhog Day Is Over’ For Mortgage Servicers
The Consumer Financial Protection Bureau's (CFPB) gloves are apparently off - and 'Groundhog Day' for mortgage servicers is over. Steven Antonakes, deputy director...
Borrowers Keep Moving To ARMs; Credit Requirements Keep Loosening
During the first month of the new year, credit requirements continued to loosen, and the percentage of adjustable-rate mortgage (ARM) loans continued to...
Bank Of America, HSBC Settle Force-Placed Insurance Suits
Bank of America and HSBC have reportedly agreed to settle lawsuits brought by homeowners who claim the banks overcharged them for force-placed insurance....