Fidelity National bails out Landcastle Title

Fidelity National bails out Landcastle Title

Discovered “substantial account misappropriations”

Closing a mortgage finally makes money

Breaks 6 quarters of straight losses

WATCH: FHFA Director Watt ensures HARP is "not a scam”

800,000 families still eligible for HARP
W S

Lending

7 Signs you're ignoring TILA-RESPA

The truth hurts — let's at least laugh about it
Matt Corcoran
“How many of you have read the TILA-RESPA rule?” Only five people in the audience raised their hands for having read the abbreviated rule — only two raised their hands for having read the full rule.
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Bank Mutual chooses Mortgagebot to provide complete origination platform

System said to offer accessibility, efficiency, compliance and security
Ben Lane
"D+H’s Mortgagebot solution offers the full front-to-back, integrated system we were looking for; in addition to customer service, its reputation for uptime and client focus is outstanding within the industry," said Dan Mekemson, Bank Mutual’s senior vice president and director of mortgage lending.
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California housing market underperforms in July

Pending home sales drop four months straight
Brena Swanson
July was not a strong month for the California housing market as the state continues to underperform. On the positive side, the share of equity sales — or non-distressed property sales — maintained its upward trend, increasing to 90.6% in July, up from 90.3% in June.
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Ellie Mae’s July origination report shows share of purchase loans up

Even better, time to close falls to its lowest
Trey Garrison
Ellie Mae’s Origination Insight report shows that for July, the share of purchase loans rose to its highest level in the series, while time to close fell to its lowest.
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4 charts show how even Realtors are losing confidence in housing

Federal red tape, rising affordability challenges darken sunny demeanors
Trey Garrison
The July 2014 Realtor Confidence Index shows that Realtors aren’t enthusiastic about current conditions and the outlook for the next six months.
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Wells Fargo CEO: GSEs choke mortgage business

“We’re just not going to make those loans”
Brena Swanson
Wells Fargo CEO John Stumpf warned the government-sponsored enterprises that they must stop being so quick to accuse banks of faulty underwriting and then forcing them to repurchase soured loans.
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Fidelity National bails out Landcastle Title

Discovered “substantial account misappropriations”
Ben Lane
According to a letter posted to the joint website for Landcastle and Morris Hardwick Schneider, the acquisition was “precipitated by a significant shortage in the accounts of MHS and Landcastle, of which Fidelity became informed by the partners of MHS.”
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Living with a dog under the woof

Celebrate National Dog Day!
Brena Swanson
To all the four-legged man's best friends out there – today is National Dog Day! And to celebrate, HousingWire decided to write an article about why and how homeowners can improve the dog-companion experience.
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Why is George Soros staking a huge claim in AIG and Ally?

Bets on AIG, moves out of Visa, MasterCard
Trey Garrison and Brena Swanson
Soros Fund Management is putting a giant stake in the firm that received an $85 billion bailout during the subprime mortgage crisis. A $98.4 million stake to be exact, which makes AIG the second largest investment for one of the world's biggest investors.
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Closing a mortgage finally makes money

Breaks 6 quarters of straight losses
Brena Swanson
After mortgage banker costs skyrocketed the past 6 quarters, well out of the realm of profitability, the latest Quarterly Mortgage Bankers Performance Report from the Mortgage Bankers Association reports the landscape shifted from losing money to making money, as costs came more under control.
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