Kevin Wall, who abruptly departed First American as co-president of its title underwriter one week ago, has a new job: CEO of Title Resources Group. Current CEO J. Scott McCall is becoming the privately held company’s vice chairman. The changes become effective July 28. Kevin Wall is the new CEO of Title Resources Group. Last […]
Former First American Title co-president joins TRG as CEO Read More »
Homeowners who were locked into high interest rates have been eager for them to dip so they can refinance. Last week, many saw their chance and took it. Mortgage applications rose 2.7% for the week ending June 27, according to the Mortgage Bankers Association’s Weekly Applications Survey, driven mostly by refinancing. Refinance applications were up
Refi applications soar as homeowners seize on lower rates Read More »
It’s a tough time to be a condo owner, particularly in Florida, and most especially if you’re trying to sell. That’s the upshot of a new report from Redfin. Condo prices dropped 2.2% year-over-year in May. That’s the second-sharpest decline since the brokerage began tracking condo data in 2012. While the broader housing market has
Condo prices drop year over year, led by Florida declines Read More »
Dark Matter Technologies, which operates the Empower loan origination system, has created an integration with the Uniform Collateral Data Portal maintained by the government-sponsored enterprises. This makes the company “an early adopter” in supporting the Uniform Appraisal Dataset 3.6 and the Forms Redesign initiative, a press release said. On June 10, the Mortgage Industry Standards
Dark Matter offers Empower integration with appraisal portal Read More »
Mortgage lenders welcomed the rescissions the Department of Housing and Urban Development made to 12 Federal Housing Administration policies, noting they would make the program more attractive for participants. They could even be a starting point for bringing banks back as originators in this government-insured program. These revisions might affect other segments of the housing
HUD rescinds 12 FHA policies: What home lenders need to know Read More »
Even as some factors causing current affordability challenges show signs of easing, a new study points to how high a barrier many aspiring buyers still have to get over to achieve homeownership. To afford a typical U.S. home currently priced at $367,969, households earning today’s median salary would need an additional $17,670 in annual income
Buyers need up to $250K more in income in some cities Read More »
Concerns over channel conflict in mortgage lending — particularly between wholesale and retail operations — are resurfacing as brokers reclaim a growing share of originations. Tension can arise when wholesale lenders also operate retail arms, potentially putting them in direct competition with the very brokers bringing them business. This strain has led companies like United
Mortgage broker-retail friction returns to spotlight Read More »
Enjoy complimentary access to top ideas and insights — selected by our editors. Condominiums have historically been our most affordable site-built homeownership option. However, escalating insurance costs, concerns about the structural integrity of condos, and more stringent underwriting requirements threaten to undermine the advantages of this critical home purchase option. Is there a way forward that
Condo rules need reform to keep homes affordable Read More »
The potential for mortgage lending fraud accelerated over the past year, with risk related to undisclosed transaction details driving much of the surge, according to Cotality. In its latest report, the real estate data platform found fraud risk was up 7.3% year over year in the first quarter. Risk lessened over time, though, coming in
Mortgage fraud risk jumps 7.3% in one year Read More »
It’s a buyer’s market, but homeowners are still recouping all-time high sales prices. Sellers are netting an average sales price of $400,266 over the four weeks ending June 22, according to Redfin. That figure is up 1.6% from the same time last year, in a housing market currently beset by near 7% mortgage rates and
Sellers net all-time high sales prices to close spring Read More »