News

Republic Bank expands into mortgages with Oak Mortgage acquisition

Growing Philadelphia-based bank will now offer mortgages
Republic First Bancorp, the parent company of Republic Bank, announced Tuesday that the Philadelphia-based bank acquired is planning to expand into mortgage lending with the acquisition of Oak Mortgage Company. Both companies view the deal as an opportunity to expand. Here's why.
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Barclays triumphs in toxic mortgage bond row with U.S. Bank, FHFA

Court rules U.S. Bank, FHFA waited too long to file claims
Barclays Bank and a defunct subprime lending unit of the company are off the hook for allegedly misrepresenting the quality of the mortgages that made up a $619 million mortgage bond after the Supreme Court of the state of New York ruled that U.S. Bank and the Federal Housing Finance Agency waited too long to file a lawsuit against Barclays.
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Fannie Mae: Mortgage industry isn't even close to done with tech innovation

Does the industry need a disruptor like Uber?
Even though the mortgage industry is finally stepping up and answering the call for more technology innovation in the space, a new survey from Fannie Mae on the pulse of the industry shows it's not even close to getting to where it should be. But the motivation is definitely there. Here's looking at you, TRID.
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Consumer optimism holds steady in July

Economic growth to continue into third quarter
Consumer confidence barely moved, but remains historically high. While consumers may feel less confident about business in the short term, experts explain that this report tells tale of increasing economic growth into the third quarter.
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New home sales reach 8-year high

Beats economists’ expectations
New homes sales not only beat out experts’ expectations, but also hit an eight-year high. Although home prices are up, it does not seem to be discouraging the demand for new homes.
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Case Shiller: May home prices rise at modest rate

Shift in regional top markets
Opinions about this month’s Case-Shiller results are as mixed as the report seems to be. While prices continue to rise, it is at a smaller rate than before. The most surprising, however, is which markets are cooling versus those that continue to drive strong price increases.
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HUD program offers investors a discount on default properties

Investment strategy should include claims without conveyance of title program
Because many servicers and investors are new to the CWCOT program, Chronos Solutions offers high-touch service that walks them through the whole auction process. Whether the property is being sold through a live auction at the courthouse or through an online auction process, Chronos maintains close contact with the bidders through RealtyBid.
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