Monday Morning Cup of Coffee: Time to cut the MLS cord?

Monday Morning Cup of Coffee: Time to cut the MLS cord?

Plus housing metrics, the incredible shrinking GDP, and kicks are for TRIDs

Jeb Bush: Current housing and debt situation unsustainable

Is the clock ticking on the 30-year mortgage?

Senate banking committee passes massive regulatory relief bill

Big implications in legislation for housing and mortgage finance
W S

News

Motivity releases TRID tool for lenders

Works backward to ensure compliance
Brena Swanson
With the TRID implementation date only a few months away, Motivity Solutions released a new tool to help mortgage lenders comply with the deadline. What makes Movation unique is that it's tied directly to clients’ business processes to reveal data from a firm’s inner workings.
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Massachusetts Court of Appeals rules for MERS

MERS assignment, role as mortgagee is valid
Trey Garrison
MERS once again wins in the appeal of a trial court ruling that held MERS did not have authority from the original lender to assign the mortgage. Want to know more?
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New home sales jump in April even as prices gain

Midwest rebounds strong from March doldrums
Trey Garrison
Sales of new single-family houses in April 2015 were at a seasonally adjusted annual rate of 517,000, a gain driven by home sales in the Midwest even as the Northeast and West regions continue to drag. Here are the details.
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FHFA: Home prices rose disappointing 0.3% in March

Conflicts with S&P Case-Shiller finding
Trey Garrison
The FHFA house price index rose a lower-than-expected 0.3% in March, not confirming a much stronger 1.0% gain for the S&P Case-Shiller index also released Tuesday.
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S&P Case Shiller: House prices beat expectations, gain 1% in March

Conflicts with lower FHFA house price report
Trey Garrison
Indications on home prices were rising solidly going into the spring selling season though there were some signs of stalling. S&P Case Shiller's adjusted 20-city house price index rose a very solid and slightly higher-than-expected 1.0%. Here's why it's up while the FHFA home price index is down.
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Black Knight: Home prices see largest monthly gain in two years

Home Price Index now just 8.4% below June 2006 peak
Ben Lane
The month of March saw the largest monthly gain in home prices in nearly two years, according to a new report from Black Knight Financial Services. Click through to see which states are performing the best and the worst. But note that the worst ones aren't even that bad right now.
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Monday Morning Cup of Coffee: Time to cut the MLS cord?

Plus housing metrics, the incredible shrinking GDP, and kicks are for TRIDs
Trey Garrison
TILA-RESPA and TRID are closing in – are you ready? Plus how weak is the recovery, will housing pull it through, and you say you want to ditch the MLS? Read on for all this and more.
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Former Dallas Cowboy out of prison after serving 3 years for mortgage fraud

Eugene Lockhart jailed for taking part in $20 million fraud scheme
Ben Lane
A former Dallas Cowboys player is out of federal prison after serving three years for taking part in a $20 million mortgage fraud scheme, which involved at least 10 other people who were also convicted. The scheme saw the group recruit straw buyers who falsified their income documents to obtain loans for inflated prices.
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Barclays mortgage bond trader fired for allegedly providing inaccurate information to clients

Yoon Seok Lee “discharged” on Feb. 11
Ben Lane
Barclays Capital fired one of its mortgage bond traders after he allegedly allegedly provided inaccurate information to clients involving residential mortgage-backed securities trades.
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Title agent gets 5 years in multimillion-dollar mortgage fraud scheme

Complex mortgage fraud, sham sale and wire fraud web collapses
Trey Garrison
A former real estate title agent was sentenced to 66 months in prison for carrying out a mortgage fraud scheme in which she obtained seven loans, totaling more than $3.7 million.
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