Mortgage technology will be ready to address TRID

Mortgage technology will be ready to address TRID

Won’t magically make challenges and cost of compliance disappear

Mortgage industry embraces new CFPB mortgage toolkit

Know Before You Owe gets qualified stamp of approval

Did little-known Arizona law start the appraiser death clock?

Gov. Ducey inadvertently hands a victory to AMCs
W S

News

Silver Bay finalizes $252.2 million rental home acquisition

Adds 2,373 single-family properties to portfolio
Ben Lane
Silver Bay Realty Trust announced the completion of the previously announced acquisition of more than 2,000 rental homes from The American Home. When Silver Bay first announced the transaction in February it called the deal a “transformational milestone” for the real estate investment trust.
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Radian completes sale of Radian Asset to Assured Guaranty

Total purchase price was $804.5 million
Ben Lane
According to Assured Guaranty, the final purchase price for Radian Asset was $804.5 million, paid in cash. According to Radian, its net proceeds on the deal were $789 million, due to transaction-related expenses.
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Multi-borrower single-family rental securitizations officially arrive

FirstKey Lending and B2R Mortgage both offering new asset class
Ben Lane
It appears that a new asset class is quickly developing, borne out of the single-family rental asset class, which itself is less than two years old. Multi-borrower single-family rental securitizations are here.
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Expected FICO changes to aid risky borrowers

Will reflect utility payments
Brena Swanson
Borrowers with a bad credit history are getting a second chance in the mortgage game. Fair Isaac Corp. is supposed to announce a new credit score metric as soon as this week that will help borrowers who are regarded as too risky by some lenders obtain mortgages, credit cards and auto loans.
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Ninth Circuit Appellate Court upholds MERS ruling

MERS didn’t lose status as agent of promissory note holder
Trey Garrison
The Ninth Circuit Court of Appeals affirmed the district court’s judgment dismissing the borrower’s wrongful foreclosure claim against MERSCORP Holdings, the latest in an ongoing string of victories for the company. Here’s what happened.
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HUD’s Castro to Realtors: We want alternatives to traditional credit scoring

Credit accessibility continues to dog marginal homebuyers
Trey Garrison
Several real estate trade groups spent Wednesday discussing the challenges that credit standards pose for access for some would-be borrowers and alternatives to traditional credit scoring. Good idea, or increasing the subprime risk?
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Mortgage lending continues seismic shift from large banks to nonbanks

AEI: Nonbanks move toward riskier loans
Trey Garrison
A new study released by the American Enterprise Institute’s International Center on Housing Risk found that the seismic shift in home purchase loan originations away from large banks to nonbanks continued in February, and the mortgage risk is increasing.
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Best cities to play Pac-Man in Google Maps

Nine challenging levels included
Brena Swanson
Think you’ve mastered Google Maps’ April Fools’ Day joke? Here are the 9 hardest cities to beat the game in, in order. And the city holding the number one spot as the hardest city is definitely not where you would expect.
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Altisource Residential moves to pull more mortgage servicing from Ocwen

Company discusses 2015 plans in call with investors
Ben Lane
Citing a desire to decrease its reliance on a single servicer and diversify its risk, Altisource Residential revealed plans to significantly decrease its commitment to Ocwen Financial in 2015. What does it mean for the future of Ocwen?
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Here are the 3 basic requirements for any real estate company

#1: Pick quality technology
Larry Leon
The real estate market is evolving. Gone are the days of millions of distressed assets waiting to be serviced. What's left? A new emerging real estate market with a heavy focus on technology and compliance versus cost.
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