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Navigating the Fluctuations: Mortgage Interest Rates and Their Impact Explore the impacts of recent mortgage interest rate fluctuations on the housing market and strategic approaches for lenders and borrowers.
Lending (1521)
MISMO Unveils Remote Online Notarization Standards
MISMO has released remote online notarizations standards for a 60-day public comment period—in a bid to ensure lenders avoid the inefficiency of dozens of state-level protocols. The aim is for the standards to face a rigorous review from organizations and industry participants—that demonstrates the standards are ready for broad use across the mortgage industry. Once… Read more...
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Pentagon Federal, Black Knight Ink Deal for Servicing, Default Services
Pentagon Federal Credit Union, the second largest credit union in the U.S., has inked a deal for the MSP loan servicing system, default solutions and other applications from Black Knight. The MSP system encompasses all aspects of servicing--from loan boarding to default-- for first mortgages and home-equity loans and lines of credit. Used to service… Read more...
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Housing Inventory: Increased 6.4% Year Over Year, Establishing a Record
A sixth consecutive month of declining home sales in January contributed to the largest year-over-year inventory increase in at least 10 years, according to the RE/MAX National Housing Report. While year-over-year home sales dropped 11 percent, extending a streak that began in August, inventory grew year-over-year by an average of 6.4 percent across the report's… Read more...
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Arch Reported $121M Net Income
Arch Capital Group Ltd. reported net income of $126.1 million, or $0.31 per share, a 5.9% annualized return on average equity, compared to $203.5 million, or $0.49 per share, for the 2017 fourth quarter. Pre-tax current accident year catastrophic losses, net of reinsurance and reinstatement premiums were $118.2 million, primarily related to Hurricane Michael and… Read more...
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Mortgage Exec Pleads Guilty to $8.9M Fraud
In federal court in Central Islip, N.Y., Edward E. Bohm, president of sales and an undisclosed owner of Long Island mortgage lender Vanguard Funding LLC, pleaded guilty to conspiring to commit wire and bank fraud. The plea related to the illegal diversion of over $8.9 million of warehouse loans that the lender had obtained to… Read more...
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HomeStreet to Sell Loan Centers, MSA Holdings
Homestreet Inc. has retained Keefe, Bruyette & Woods to seek buyers to acquire its stand-alone home loan centers . Also, the Company has retained MountainView Transaction Advisory LLC to seek buyers for the majority of its single-family mortgage servicing rights principally related to loans originated by those home loan centers and personnel. These moves could… Read more...
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Commerce Home Mortgage Is Now a Member of FHLB
Commerce Home Mortgage LLC has become a member of the Federal Home Loan Bank of San Francisco. In addition, it is one of the few independent mortgage companies that is approved with Fannie Mae, Freddie Mac, Ginnie Mae, and has been certified as a community development financial institution. Membership in the FHLB system offers many… Read more...
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Stewart, Fidelity 'Disagree' with New York Regulator’s Disapproval Notice on Merger
Stewart Information Services Corp. has reported consolidated pretax income of $19.7 million in the fourth quarter of 2018, compared to $17.5 million in the same period a year earlier. The title business generated pretax income of $29.5 million in the fourth quarter of 2018, compared to $27.0 million in the same period a year earlier.… Read more...
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Black Knight Revenues Rise 6%; Loan Origination Solution up 35%
Black Knight reported that its revenues for the year ended Dec. 31, 2018, increased 6 percent to $1,114.0 million, compared to $1,051.6 million in 2017. Earnings for the same time period were $168.5 million, or $1.14 per share, compared to $182.3 million, or $1.47 per diluted share, in 2017. In the fourth quarter, revenues from… Read more...
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Delinquency Performance Improving: Corelogic
The percentage of mortgages that were in delinquency fell to 4.1 percent in November 2018, compared with the same time period a year earlier, when the rate stood at 5.2 percent, according to the “Loan Performance Insights Report” from Corelogic. As of November 2018, the foreclosure inventory rate, which measures the share of mortgages in… Read more...
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