Walter Investment fined $29.6 million for False Claims Act violations

Walter Investment fined $29.6 million for False Claims Act violations

Subsidiaries allegedly submitted false reverse mortgage claims to HUD

The Wrap: Appraisal volume ticks down after two weeks up

New tips, tools and tricks of the trade

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

loanDepot graph shows they can barely save for retirement
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The Ticker

$2 billion bulk Ginnie Mae MSR portfolio hits the market

Carries weighted average interest rate of 3.71%
MountainView Servicing Group, a provider of residential mortgage servicing rights sales and valuation advisory services, announced that it is advising on the sale of a $2 billion bulk portfolio of mortgage servicing rights backed by Ginnie Mae.
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Northwest housing pulls back slightly in August

But nowhere near what is typical
Although some brokers from the Northwest detected a slowdown in housing activity in August, it is nowhere near what is typical. Opinions on the rest of the year widely vary, ranging from one person who predicted the market is on the cusp of a slowdown, to others who say sales will continue at a fast pace.
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MBA pushing for safe harbor for TRID

Industry wants a formal grace period
The mortgage industry is pushing for the Consumer Financial Protection Bureau to adopt a formalized grace period for TRID, and now Mortgage Bankers Association is pushing Congress to take action as it returns to the Hill. Read on.
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eMortgage Logic becomes Morningstar-rated asset valuation vendor

Receives ‘MOR RV1’ vendor ranking
eMortgage Logic, a provider of residential real property valuations, data and analytics, received a residential vendor ranking from Morningstar Credit Ratings. According to a release from Morningstar, the ratings agency assigned a ‘MOR RV1’ residential vendor ranking to eMortgage Logic as a residential vendor in the asset valuation market.
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ARMCO announces TRID mortgage data comparison tool

Will enable lenders to compare TRID forms to loan origination system data
ACES Risk Management, a web-based financial services quality control software provider, announced the release of TRIDCompare, a data comparison tool specifically designed for the new TILA-RESPA Integrated Disclosure forms.
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Beige Book: Real estate activity up in all 12 districts

Rental demand stronger, new construction barriers remain
Reports from the twelve Federal Reserve Districts indicate economic activity continued expanding across most regions and sectors during the reporting period from July to mid-August, and residential real estate was solid. Read on.
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International buyers pump $8.32B into Texas housing

Naturalized U.S. citizens want Texas houses
Texas home sales purchased by international homebuyers added $8.32 billion to the state’s economy between April 2014 and March 2015. What’s noteworthy is that the demographic pull of buyers is starting to veer away from the usual trends.
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For sale: Babe Ruth’s NYC apartment

The Great Bambino’s home hits market for $1.6M
Interested in owning a little piece of New York Yankees’ history? Well, you’re in luck because you can buy the New York apartment built and once owned by Babe Ruth. The price tag for the “home that Ruth Built” on the Upper West Side? $1.595 million.
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