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Non-QM loans bend underwriting less than subprime did: DBRS
News 2 months ago
Non-QM loans bend underwriting less than subprime did: DBRS

Securitized loans originated outside the Qualified-Mortgage rule's parameters have looser guidelines than mainstream loans do today, but are more...

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Goldman Sachs gets closer to fulfilling terms of mortgage settlement
News 2 months ago
Goldman Sachs gets closer to fulfilling terms of mortgage settlement

Goldman Sachs put another $90 million toward consumer mortgage relief in the past two months, bringing the company closer to fulfilling the terms...

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JPMorgan Chase's warehouse lending unit accepting eNotes
News 2 months ago
JPMorgan Chase's warehouse lending unit accepting eNotes

JPMorgan Chase is now accepting electronic promissory notes as collateral to fund warehouse loans, the company said. The move comes at a time when...

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CFPB turns its reg relief focus to HMDA
News 2 months ago
CFPB turns its reg relief focus to HMDA

The Consumer Financial Protection Bureau proposed steps Thursday to ease reporting requirements under the Home Mortgage Disclosure Act, just days...

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Mortgage applications decrease even as interest rates fall
News 2 months ago
Mortgage applications decrease even as interest rates fall

Mortgage applications decreased 4.3% from one week earlier although concerns over the global economy resulted in falling interest rates, according...

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Poor credit won't bar a mortgage broker from getting a surety bond
News 2 months ago
Poor credit won't bar a mortgage broker from getting a surety bond

Being a mortgage broker can be a lucrative career path for those with industry experience and a loyal customer base. With more than 11,000 licensed...

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Savannah could get more affordable housing under proposed programs
News 2 months ago
Savannah could get more affordable housing under proposed programs

About 44% of Savannah, Ga., families cannot afford quality housing, according to city officials. In other words, almost 24,000 local households are...

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New Jersey tightening licensing requirements for servicers
News 2 months ago
New Jersey tightening licensing requirements for servicers

A New Jersey law going into effect this summer adds to a growing number of state-level efforts to require more mortgage servicers to obtain...

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Blackstone secures new $1.15B CMBS with trade showroom portfolio
News 2 months ago
Blackstone secures new $1.15B CMBS with trade showroom portfolio

Affiliates of the Blackstone Group will market a series of commercial mortgage-backed bonds secured by an unusual asset: a portfolio of trade...

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Commercial mortgages put into special servicing increased in 2018
News 2 months ago
Commercial mortgages put into special servicing increased in 2018

Commercial mortgages placed into special servicing grew last year, but default and foreclosure dollar volume fell as legacy loan resolutions...

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San Francisco home sales drop, suggesting slowdown in market
News 2 months ago
San Francisco home sales drop, suggesting slowdown in market

A drop in property sales in San Francisco suggests a housing slowdown despite a booming economy, according to city Assessor-Recorder Carmen Chu....

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Can California boost homebuilding without supercharging gentrification?
News 2 months ago
Can California boost homebuilding without supercharging gentrification?

Along a stretch of South Los Angeles near the Expo light rail line, investment dollars are pouring in. Landlords outfit vacant apartments with...

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Las Vegas affordable housing shortage at crisis level
News 2 months ago
Las Vegas affordable housing shortage at crisis level

Ten years after the burst of the U. S. housing bubble sent Las Vegas into economic crisis, real estate has made a comeback in the Valley. Residents...

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News 2 months ago
Refinanced loans for office and water parks highlight $938M Wells CMBS

Refinanced commercial mortgages for a renovated office park in Florida and a Great Wolf Lodge water park location in Southern California highlight...

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Quicken Loans parent company beefing up Canadian investments
News 2 months ago
Quicken Loans parent company beefing up Canadian investments

Quicken Loans parent company Rock Holdings is strengthening its investments in the Canadian market by acquiring a majority stake in Lendesk, a...

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GE puts WMC Mortgage into bankruptcy as it faces $1.7B in settlements
News 2 months ago
GE puts WMC Mortgage into bankruptcy as it faces $1.7B in settlements

General Electric placed its WMC Mortgage unit into Chapter 11 bankruptcy protection as the inoperative subprime mortgage originator has nearly $1.7...

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Rising rates now affecting purchase mortgage application activity
News 2 months ago
Rising rates now affecting purchase mortgage application activity

Purchase mortgage applications, which until now were unaffected by the recent rise in interest rates, fell by 4% on a seasonally adjusted basis...

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Building up Santa Fe's multifamily housing inventory
News 2 months ago
Building up Santa Fe's multifamily housing inventory

With as many as 2,155 apartment units either proposed or under construction in Santa Fe, observers have different views on what role these large...

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Brookfield financing mall portfolio mortgage through $295M CMBS transaction
News 2 months ago
Brookfield financing mall portfolio mortgage through $295M CMBS transaction

Mall operator Brookfield Properties Retail Group is tapping the commercial mortgage bond market to partially finance a new mortgage for a cross...

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Mortgage industry zeros in on two technologies to improve processes
News 2 months ago
Mortgage industry zeros in on two technologies to improve processes

The mortgage industry identified two technology initiatives it claims have the greatest potential to improve processes and be the most broadly...

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Millennials on the move offer smaller mortgage lenders big opportunity
News 2 months ago
Millennials on the move offer smaller mortgage lenders big opportunity

Millennials have long been blamed for pushing transgenerational businesses to extinction. Even financial institutions with storied pasts have not...

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Housing starts fall in March to weakest pace since 2017
News 2 months ago
Housing starts fall in March to weakest pace since 2017

New-home construction unexpectedly fell in March, decelerating to the slowest pace since May 2017 and suggesting builders remain wary even as lower...

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More online mortgage shopping equals lower servicer retention rates
News 2 months ago
More online mortgage shopping equals lower servicer retention rates

Consumers increasing their online shopping for homes and loans is a reason why mortgage servicers' retention rates haven't improved much since the...

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Trump's housing agency cracks down on no-money-down home loans
News 2 months ago
Trump's housing agency cracks down on no-money-down home loans

The Trump administration is cracking down on national affordable housing programs because of concern over growing risk to the government's almost ...

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Average mortgage rates rise again, but so does purchase activity
News 3 months ago
Average mortgage rates rise again, but so does purchase activity

Mortgage rates rose for the third consecutive week, but home purchases are up as well, to their highest level in nine years, according to Freddie...

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Closed loan and refinance shares grow on sinking mortgage rates
News 3 months ago
Closed loan and refinance shares grow on sinking mortgage rates

Mortgage rates continued to decline through the spring home buying season, driving up the share of refinance loans and overall closing rates,...

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Independent mortgage bankers see profit per loan nearly halved in 2018
News 3 months ago
Independent mortgage bankers see profit per loan nearly halved in 2018

Surging loan production expenses and low revenue killed profits in 2018 for loans originated by independent mortgage bankers and subsidiaries of...

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Destiny USA mall may default on its mortgage
News 3 months ago
Destiny USA mall may default on its mortgage

Destiny USA, one of the largest malls in the nation, is struggling to pay its mortgage, according to a published report. The Wall Street Journal...

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Rising mortgage rates again reduce refinance application volume
News 3 months ago
Rising mortgage rates again reduce refinance application volume

Higher interest rates cut refinance mortgage application volume and reduced overall activity even as the purchase index reached a nine-year high,...

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Commercial, mortgage, card lending rise at U.S. Bancorp
News 3 months ago
Commercial, mortgage, card lending rise at U.S. Bancorp

Growth in commercial lending, mortgage lending and some payments businesses helped U. S. Bancorp match profit expectations for the first quarter....

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