Dear Parents, don’t expect your homebuying Millennials to pay you back

Dear Parents, don’t expect your homebuying Millennials to pay you back

laonDepot graph shows they can barely save for retirement

Trending Thursday: Banks make more on mortgages while government steals GSE profits?

Yale legal scholars on #FannieGate

Here's how to handle electronic delivery of mortgage disclosures

So many aren't even ready for TRID
W S

Investments

Zillow sells Market Leader for massive loss

Buyer is Perseus Division of Constellation Software
Zillow Group announced that it plans to sell Market Leader, a customer relationship management system for the real estate industry, to the Perseus Division of Constellation Software, an international provider of software and services. When Trulia bought Market Leader, the purchase price was reported to be as high as $355 million. Zillow announced Thursday that it is selling Market Leader for $23 million.
Read More

Mortgage industry to CFPB: Stop normalizing bad data

Fix the consumer complaint database, industry says
The mortgage finance industry is still not happy with the Consumer Financial Protection Bureau and its consumer complaint narrative database, which publishes unvetted and unverified anonymous complaints against specific companies. Want to know more? Of course you do.
Read More

Fannie Mae picks non-profit for first small sale of non-performing loans

Completes first “Community Impact Pool” sale
Fannie Mae announced the winner of its first sale of non-performing loans as part of its “Community Impact Pool” program, which consists of smaller pools of non-performing loans and is designed to attract diverse participation by non-profits, small investors and minority- and women-owned businesses. Click here to read more.
Read More

Texas man gets 17 years for $20M Disney land scam

Duped investors into thinking Magic Kingdom coming to Dallas
A Texas man who swindled real estate investors with a story about a fake Disney theme park coming to the Dallas area was sentenced on Tuesday to 17-and-a-half years in federal prison. It was pretty bold.
Read More

Reminder: Rehab REOs to increase profits

Don't sell property "as is"
Servicing and asset management organizations involved in the mortgage default arena need to look once again at each REO property on an individual case-by-case basis to determine if rehabilitation and/or property improvements are the best marketing strategy for each property.
Read More

Construction spending rises to 7-year high

Residential construction rises 1.3% from June
Overall construction spending during July 2015 was estimated at a seasonally adjusted annual rate of $1,083.4 billion, 0.7% (±1.5%) above the revised June estimate of $1,075.9 billion, the Census Bureau reported Tuesday. Here's what it means for housing.
Read More

Are REOs ready for a comeback?

Clear Capital: Increases in distressed, seasonal changes suggest yes
A new report from Clear Capital suggests that REOs and short sales may be on the rise again, what with the saturation of distressed properties on the rise, plus some other factors. Worried? Getting cash ready? Read on.
Read More
From HW Magazine

Company Spotlight: Auction.com

Meeting the growing demand for mobile transactions
“Within our competitive environment, we have a pretty significant lead in terms of our technology deployment,” Sharga said. “Our partnership with Google has been very helpful to our product and engineering teams, which are tapping into Google’s expertise for mobile development and SEO optimization."
Read More

At bloggerheads: The latest #FannieGate rumor challenged by the media

Settlement rumors stir up fracas among analysts, investors and media
Rafferty Capital’s Dick Bove recently told clients a Presidential round of golf, included a lawyer whose firm is at the center of the #FannieGate debacle, suggests the White House is pushing everyone to reach a settlement. Seemed harmless enough, but by the afternoon, things started getting really interesting.
Read More