Fannie: Millennial housing demand declines further

Fannie: Millennial housing demand declines further

Fall comes even as housing affordability for young improves

Case-Shiller: Home price gains decelerate rapidly

Biggest drop in HPI since November 2012

Can Quicken Loans save Detroit?

Forbes: “Dan Gilbert is saving Detroit to help his business”
W S

Lending

AllRegs named publisher for FHA single-family policies

Increases info management for the administration
Levi Shultz
“Since founding this company in 1989 my goal has been twofold; to create a central location where industry professionals can go for fast, reliable answers and to provide a cost-effective method of information management for all industry participants,” said Glenn Ford, founder and CEO of AllRegs.
Read More

More signs of a sliding housing market

Affordability has issues, too
Lynn Effinger
Affordability issues; looming interest rate hikes as have been predicted by Federal Reserve Chairman Janet Yellen; too many FHA loans being made (this is the “new” sub-prime market); federal emphasis being placed on low-income borrowers, and other factors are causing house prices to decline once again in many markets.
Read More

News Corp will buy Move for $950 million

Realtor.com may soon belong to Rupert Murdoch
Ben Lane
Under the terms of the acquisition agreement, which was announced on Tuesday, News Corp will acquire all of Move’s outstanding shares for $21 per share. According to a release from News Corp, that price represents a premium of 37% over Move’s closing stock price on September 29.
Read More

Are your Facebook friends the future of your FICO score?

One financial expert thinks so
Ben Lane
“You could easily have a scenario in 10 years where a customer’s chances of credit are determined not only on their spending, but also on their friends, family members and their social profile,” Gi Fernando said. “By giving up a bit more information to the banks, you might stand to benefit in a wider choice of products.”
Read More

CFPB fines Flagstar $37.5 million for mortgage servicing violations

CFPB: “At every step in the foreclosure relief process, Flagstar failed borrowers.”
Ben Lane
"Because of Flagstar’s illegal actions and unacceptable delays, struggling homeowners lost the opportunity to save their homes,” said CFPB Director Richard Cordray. “The Bureau has been clear that mortgage servicers must follow our new servicing rules and treat homeowners fairly. Today’s action signals a new era of enforcement to protect consumers against the cost of servicer runarounds.”
Read More

Can Quicken Loans save Detroit?

Forbes: “Dan Gilbert is saving Detroit to help his business”
Ben Lane
Dan Gilbert, the founder and chairman of Quicken Loans, is still pushing to save the city of Detroit. He's invested millions in the revitalization of Detroit's downtown area and the results of his efforts are having a real impact on the recovery of the city and on Quickens Loans' business too.
Read More

Pending home sales slowed in August

NAR forecasts existing home sales to be down 3% for 2014
Trey Garrison
Pending home sales slowed modestly in August but contract signings remain at their second-highest level over the past year, according to the National Association of Realtors. All major regions experienced declines except for the West, which rose for the fourth consecutive month.
Read More

The profit-margin challenge with TILA-RESPA

Get operational processes firmed up now for Aug.1, 2015 go-live
Mark McElroy
Do you know what it fully costs you to acquire a customer? It is now critical that you know this metric today, because it’s going to change on Aug. 1, 2015. If your operational processes are not streamlined, your margins are going to suffer worse when TILA-RESPA is effective.
Read More

Inlanta Mortgage opens new office in Minneapolis

Veteran loan originator Jerry Sather chosen to manage new location
Ben Lane
“Sather’s thorough research and understanding of the housing market helps him to effectively assist his real estate partners by maximizing their sales efforts in less time,” the company said in a release.
Read More

Pierce and Associates adds to management team from within

Dave Beck and Eric Alvine promoted
Ben Lane
Dave Beck, who previously served as director of information services, has been promoted to the position of chief information officer. Eric Alvine, who has served as one of the firm’s litigation attorneys since 2012, has been promoted to the position of director of foreclosure.
Read More