Royal Bank of Scotland pulls petty mortgage stunt

Royal Bank of Scotland pulls petty mortgage stunt

Here's why we shouldn't be surprised

Foreclosure timelines in California, Nevada stay lengthy

Moody’s: Gradual decline to start in early 2016

Will housing headwinds flatten home sales?

Auction.com: Market maintaining current momentum
W S

Lending

GuardHill Financial names Melissa Cohn president

Company plans expansion
Ben Lane
GuardHill Financial, a New York City-based mortgage banker and mortgage company, has named Melissa Cohn as the company’s new president. In this role, Cohn will lead the company’s day-to-day operations and “help drive forward the strategic vision for the company,” GuardHill said in a release.
Read More

Monday Morning Cup of Coffee: Mortgage giants warm to principal reduction?

Also 2015 housing finance forecasts galore and key mortgage industry metrics
Trey Garrison
Is principal reduction about to become more common? Who hit the bulls-eye in forecasting 2014, and who just offered bull? And of those hawkeye prognosticators, what do they have to say about 2015? Get it here and get it early.
Read More

Want a free Bentley? Sell this house

Agent who finds buyer for $10 million house gets added bonus
Ben Lane
Whoever finds a buyer for the nearly $10 million home will not only get his or her commission on the sale, the seller is also throwing in a new a 2015 Bentley at no charge. Just consider it a little cherry on top of your normal compensation.
Read More

FHFA COO found not guilty of threatening Ed DeMarco

Stood accused of threatening to shoot former FHFA acting director
Ben Lane
Richard Hornsby, the chief operating officer of the Federal Housing Finance Agency, was found not guilty of threatening former FHFA Acting Director Ed DeMarco. Hornsby stood accused of threatening to kidnap or injure a person after he allegedly threatened DeMarco at the FHFA’s headquarters in late April.
Read More

Dustin Johnson levels blockbuster claims at title attorneys

Is Nat Hardwick the fall guy?
Ben Lane
The situation surrounding the escrow account shortages discovered at LandCastle Title and the law firm of Morris Schneider Wittstadt has taken another dramatic turn, with PGA golfer Dustin Johnson filing an amended motion which accuses Mark and Rod Wittstadt of conspiring to use Nat Hardwick as a pawn and set him up to take the fall for the shortages that were discovered in the accounts of the firm and its subsidiary, LandCastle Title.
Read More

Housing sales inventory continues to grow in October

Lower-priced home inventory lags; high-end homes picking up
Trey Garrison
The number of homes for sale continued to increase across the U.S. in October, a good sign for buyers, but mainly for those on the higher end, according to the latest data from Zillow Real Estate Markets report for October.
Read More

Nationstar buys title company

More plans to grow geographically
Brena Swanson
Solutionstar Holdings, an indirect wholly-owned subsidiary of Nationstar, announced it is expanding further into the mortgage business and snapped up a mortgage title company. It is also expanding operations into some of the nation's largest housing markets.
Read More

Black Knight: Mortgage delinquency rate drops to 7-year low

Loans in foreclosure also dropped to 6-year low
Ben Lane
The mortgage delinquency rate declined in October to a seven-year low, according to Black Knight Financial Services’ “First Look” at the October mortgage data. October also saw a rise in prepayments for the first time since July, which Black Knight said is “historically a good indicator of refinance activity.”
Read More

GSEs officially update representation and warranty policies

Analysts say impact of long-awaited changes may be minimal
Ben Lane
Fannie Mae and Freddie Mac both announced changes to their respective representation and warranty policies, following through on an announcement made by Federal Housing Finance Agency Director Mel Watt at the Mortgage Bankers Association Annual Convention & Expo in October.
Read More

[CHART] FHFA: G-fees more than double in 4 years

Chronological changes in g-fees
Brena Swanson
The Federal Housing Finance Agency’s sixth annual report on the single-family guarantee fees charged by Fannie Mae and Freddie Mac included data from 2009 to 2013, showing just how intensely g-fees have increased in four years.
Read More