Mortgage application defects keep rising

Mortgage application defects keep rising

Michigan, Florida, Texas lead First American application defect index

Monday Morning Cup of Coffee: When will mortgage lending pick up?

Plus, more on the future of Fannie and Freddie

Fannie Mae: 3 reasons why this oil glut won't crash housing

It isn't the 1980s anymore
W S

Lending

Stonegate CEO Jim Cutillo abruptly leaves company

A positive move for the company?
Stonegate Mortgage Founder and CEO Jim Cutillo announced he is abruptly leaving the company effective Sept. 10, 2015, serving only as a consultant over the next six months to facilitate his transition. After a rough year on the stock market for the company, one analyst said this is positive news for the lender.
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National mortgage risk index up slightly in July

Risk has increased every month since January 2014
The risk grows even as increasing leverage in a seller’s market is pushing up real home prices, moving the goal post further away for many aspiring low- and middle-income homebuyers. Here’s why it’s not a good trend.
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Mortgage application defects keep rising

Michigan, Florida, Texas lead First American application defect index
Defects found on mortgage loan applications is on the rise and have been throughout 2015, according to a new report from First American Financial. Which states and markets are the biggest risks of application fraud? Click here to find out.
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Judge rules against RBC in mortgage lawsuit

Thornburg Mortgage entited $45 milllion
A district judge awarded the court-appointed trustee overseeing the liquidation of Thornburg Mortgage $45 million in his crisis-era lawsuit against Royal Bank of Canada since the bank undervalued the seized mortgage-backed securities it sold.
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These are the 20 hottest housing markets right this minute

Stock volatility, seasonal slowing swings market more in favor of buyers
The summer seller’s market is started to swing a little more in favor of buyers as of August, according to the research from the National Association of Realtors' website, looking at the number for the first three weeks of August. Here's what it means.
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Want Zillow to pay your mortgage for a year?

This $25,000 could be yours
Zillow is giving away $25,000 to pay one lucky person’s mortgage for an entire year. Hurry up though, the “Pay My Mortgage, Please” sweepstake ends Monday morning. Bonus: Details show how to get entered 10 times.
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Founder of Manhattan Mortgage opens MC Home Loans

Melissa Cohn starts new New York City-based lender
Industry veteran Melissa Cohn, who founded and ran Manhattan Mortgage Company for nearly 30 years then left to serve as the president of GuardHill Financial, is opening a new mortgage company based in New York City.
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Velocify announces partnership with Ellie Mae

Velocify’s solutions now available in Encompass
Velocify, a sales acceleration platform, announced that its solutions are now available through Ellie Mae’s all-in-one mortgage management solution, Encompass. According to a release from Velocify, the “seamless” integration allows lenders to order Velocify’s solutions directly through Encompass to drive quality and efficiency in the loan origination process.
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Just what is the Fed going to do about interest rates?

BofAML analysts still believe that rate hike is imminent; others call Fed “dithering”
After a week full of market volatility and upheaval, analysts from all sides are questioning what impact, if any, the events of the week are going to have on the Federal Open Markets Committee and the looming threat of rising interest rates. Here's all the consensus, with uniform opinion woefully lacking.
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