Claren Financial: The mortgage market faces 3 more years of recovery

Judge tosses whistleblower letter, limits discovery in Zillow-Move suit

Motions to limit subpoenas, strike letter benefit Zillow in legal row

San Francisco leads the nation in property bidding wars

Well above national average
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The Ticker

PennyMac Financial Services 1Q net income hits $47.1M

Sees substantial opportunity in mortgage production
Brena Swanson
PennyMac Financial Services posted net income of $47.1 million for the first quarter of 2015, on revenue of $140.3 million. Looking ahead, the lender's CEO sees substantial opportunity in mortgage production, driven by continued low mortgage rates, the FHA's reduction of its mortgage insurance premium and limited origination capacity in the market.
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Pavaso offering quicker transition to e-closing solution

Provides lenders with “painless path” to TILA-RESPA compliance
Ben Lane
Pavaso announced a new solution that promises to help business implement digital closing and ensure compliance for the coming TILA-RESPA regulations, saying in a release that its “Fast Track” program provides a “quick, low-impact implementation” of its Digital Close solution in two weeks.
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Lincoln Mortgage rebrands to Gateway Mortgage

Lender originally joined Gateway in early 2014
Brena Swanson
Lincoln Mortgage Company, formerly only a division of Gateway Mortgage Group, is now officially operating under the Gateway Mortgage Group name, changing the name of its four branches.
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BSI Financial approved as Ginnie Mae issuer

Now able to service loans in Ginnie Mae securitizations
In a release, BSI Financial said that the Ginnie Mae approval provides “further evidence of BSI Financial's sound servicing practices and its track record of regulatory compliance.” The company also said that the accreditation “opens the door” for further expansion of the company's loan subservicing solutions.
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Claren Financial: The mortgage market faces 3 more years of recovery

Regulation’s role in lending conditions
Brena Swanson
It will be about three years until the mortgage lending environment returns to a healthy level and reaches a strong equilibrium. Until then, here’s what's impacting current lending conditions.
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Gallup: Job creation index highest since September 2014

Index shows first real gains in six months
Trey Garrison
More American workers have reported that their employers were hiring over the past year than in the six years prior, with the latest data from April representing a new high mark. Here's what Gallup says.
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ADP forecasts weak April job growth

At 169K, it’s not pretty
Trey Garrison
ADP correctly signaled a weak employment report for March and it's signaling another weak report for April. Friday's report could be ugly.
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Accurate Group launches new appraisal technology

Fewer humans save time and money
Brena Swanson
Accurate Group launched its latest technology solution iValueNet, hoping to give mortgage lenders a choice on interior property inspections to help save time and money.
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Planet Home Lending acquires HomeBridge Funding

Plans on expanding correspondent division product offerings
Brena Swanson
Planet Home Lending announced it is acquiring the employees and assets related to HomeBridge Funding, the correspondent division of HomeBridge Financial Services, helping establish the lender as a fully-integrated mortgage banker.
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Walker & Dunlop earnings skyrocket on record origination volume

Lender prepares for commercial mortgage refinancing wave
Brena Swanson
Walker & Dunlop posted a 198% increase in net income from first quarter 2014, and the lender sees even more opportunity in the future as it prepares for a commercial mortgage refinancing boom.
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