FHFA announces 2016 conforming loan limits

FHFA announces 2016 conforming loan limits

Much of U.S. left unchanged; limits increase in 39 ‘high-cost’ counties

Game changer? Quicken Loans takes mortgage lending fully digital

Launches Rocket Mortgage

Google launches mortgage comparison tool with Zillow

LendingTree will also bring mortgages to Google


CFPB: Complaints against Ocwen are falling

Nonbank showing improvement in consumer complaints
Perhaps constantly being under the microscope of regulators is having a positive impact on Ocwen Financial and its standing with its customers. According to a new report from the Consumer Financial Protection Bureau, complaints about Ocwen dropped by a significant margin in the last year.
Read More

Is your company leading the technology revolution? Prove it

Deadline quickly approaching for entry in HousingWire tech awards
The technological revolution is happening, right now. Here at HousingWire, we see that innovation happening and feel it deserves some serious kudos. The shouting it from the rooftops kind, to be exact. It’s in that spirit that HousingWire honors the most innovative innovators who’ve innovated in the most innovative ways in the last year.
Read More

International manhunt ends in arrest of field servicer on child prostitution charges

Royal Thai Police arrest North Carolina man for connection to prostitution ring
[Editor's note: The following story contains graphic details.] Mickey Snow, the owner and operator of a multi-state field services provider that until recently provided services to one of the government-sponsored enterprises, was arrested in Thailand after leading authorities on a worldwide chase to avoid prosecution on child prostitution charges.
Read More

NAMFS raises concerns over the new GSE property inspection forms

Redefines the role of default property inspector
The concern of field services providers focuses on the agencies' reliance on a property inspection to determine the full extent of interior and exterior property damage, including what is not clearly visible. Additionally, there is an expectation for the inspector to make recommendations for repairs and to assess insurable and environmental damages.
Read More

Cenlar expands operations in Arizona

Opens new office in Tempe
Loan servicing provider Cenlar FSB announced it expanded its operations outside of New Jersey and moved into new office space in Tempe, Arizona. The new western location will be the site of Cenlar’s West Operations Center.
Read More

RealtyTrac: Foreclosure starts post highest jump in more than four years

Should the industry be concerned?
Foreclosure filings in October were up 6%, primarily due to a 12% monthly jump in foreclosure starts. While the increase in foreclosure starts isn’t a giant surprise, it did exceed expectations. Add in even more dramatic monthly increases in certain states, and it's certainly a concern.
Read More

Fannie Mae completes third non-performing loan sale

Fortress and Goldman Sachs named winning bidders
Fannie Mae announced the winning bidders for its third non-performing loan sale of approximately 7,000 loans totaling $1.24 billion in unpaid principal balance. Fannie said it offered the non-performing loan sales to investors and their servicers so they could help borrowers avoid foreclosure wherever possible by applying a wider range of loss-mitigation options than Fannie has available.
Read More