Saturday, 19 October, 2019

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Category: HousingWire

Category Added in a WPeMatico Campaign


Mortgage Contracting Services, a national provider of mortgage-related services, is acquiring Miami-based M&M Mortgage Services, the company announced Tuesday.  Over the past few years, MCS, which provides property preservation services, inspections, REO property maintenance and valuations for the financial services industry, has made a series of acquisitions. In the spring of 2016, the company acquired EPIC Real Estate Solutions, which Read more…


The U.S. foreclosure rate fell to the lowest level in two decades in July as a strong labor market made it easier for Americans to pay their bills. The share of mortgages in foreclosure fell to 0.4%, compared with 0.5% a year earlier, CoreLogic said in a report on Tuesday. Other measures including the delinquency rate also fell. The share Read more…


Although the nation’s trade war is projected to weaken future economic growth, Freddie Mac’s September Forecast indicates the housing market is likely to maintain its strength well into the fall. “Despite fears of an economic slowdown, the housing market continues to be a bright spot in the economy,” said Sam Khater, Freddie Mac’s chief economist. “While mortgage rates have ticked up in Read more…


Using valued resources wisely is paramount to success in the current mortgage environment. Leveraging robotic process automation (RPA) and artificial intelligence (AI) means lenders and servicers can automate manual, repetitive tasks and use the expertise of mortgage professionals where it will make the most difference. LoanComplete by Fiserv uses RPA and AI to solve one of the most common problems Read more…


Plaid, a technology platform that connects various applications with users’ bank accounts and has a growing presence in the mortgage space, raised $250 million last December in its Series C funding round that pegged the company with a reported valuation of $2.65 billion. Noted venture capitalist Mary Meeker led the funding round, with participation from Andreessen Horowitz, Index Ventures, Norwest Venture Partners, and Coatue Read more…


Mid America Mortgage will soon be offering Home Equity Conversion Mortgage (HECM) and private reverse mortgage products. However, rather than developing an in-house solution, Mid America Mortgage is partnering with ReverseVision, the two companies announced recently.  “Mid America has always sought opportunities to establish itself in underserved areas of the market, and reverse mortgages are a prime example,” said Mid America Read more…


Buckle your seatbelts, California. You may be in for another showdown with the Trump administration. You too, New York and Oregon. When Treasury released its housing finance reform plan a week ago, there was one proposal buried in the middle that didn’t get much attention: curbing Fannie Mae and Freddie Mac multifamily lending in areas that adopt rent control. It Read more…


Public school teachers and faculty in the Portland may be eligible to have half of the down payment on a home paid for them, thanks to the recent partnership of Landed and Multnomah County.  Landed, a homeownership investment startup, first launched in 2015 with the goal of helping educators afford homes in the communities in which they work. With backing from Read more…


Hurricane Dorian ripped its way through the Bahamas, then making its way as a Category 5 hurricane across the U.S. East Coast last week. Now, homeowners are stuck with what’s left of their properties. In light of the natural disaster, Fannie Mae and Freddie Mac have offered homeowners up to 90 days of mortgage forbearance. Forbearance and delinquencies also will not Read more…


About three-quarters of buyers reported finding their homes using their phones, according to a report from the National Association of Realtors. Mobile-phone use differed by generations: about 80% of Millennials, meaning younger than 38 years old, began their search on their phone, while 78% of Gen Xers, meaning 39 to 53, and 68% of Young Boomers, meaning 54 to 63, Read more…


For many Americans, the causal stroll around the neighborhood is an important part of day to day life. But as homebuyers continue to grapple with rising home prices, a new report from Redfin suggests that many are now prioritizing affordability over walkability. According to the company’s data, home-sale prices in car-dependent housing markets across the country increased 4.3% year over year to Read more…


Most Americans would agree Congress seems to be gridlocked. But, there’s at least one exception to the impasse: Hiking fees for mortgages backed by the Veterans Administration. Two months ago, Congress approved a two-year hike in funding fees for VA mortgages to pay for the Blue Water Navy Vietnam Veterans Act, passing on the some of the costs for caring for Read more…


After Live Well Financial unexpectedly imploded in May, many questioned how the seemingly successful forward and reverse mortgage lender could have fallen so far, so fast. Well, now the other shoe has dropped. And it has dropped right on the head of Live Well CEO Michael Hild. Hild, the founder, CEO, and controlling shareholder of Live Well was arrested this Read more…


Although the nation’s employment rate has risen to new highs within the last couple of years, wages haven’t kept pace with home-price growth, leaving many homeowners struggling to afford housing. So, how are these Americans making ends meet? LendingTree’s latest analysis revealed that there is a direct correlation between the rising cost of living and the increasing number of workers per household. “As the cost Read more…


This week, the 30-year, fixed-rate mortgage held steady from one week prior, averaging 3.6%. This rate sits significantly lower than its 2018 average of 4.53%, according to the Freddie Mac Primary Mortgage Market Survey. Freddie Mac Chief Economist Sam Khater said the sound and fury of the financial markets continue to warn of an impending recession, however, the silver lining is that Read more…