Housing in places like New York, San Francisco fail more than just the locals

Caution: GSE reform could have serious unintended consequences

Guest blog by former Ginnie Mae president Joseph Murin

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

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

The Ticker

ditech expands its consumer direct channel in Florida

Plans to hire more loan specialists
Brena Swanson
Since Ditech Mortgage Corp launched back into the industry in March 2014, it has made several key changes to once again be a major player in the mortgage space. This time around the lender announced it is expanding its consumer direct channel into the Jacksonville, Florida, area.
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Reality star Nicole Richie wins in California real estate

Lists home for 83% higher than purchase price
Brena Swanson
Nicole Richie may be a top reality TV star, along with her singer husband Joel Madden, but she is also branching out into real estate. And it's in California, too.
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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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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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To Go: Title company closes mortgages on wheels

Mobile closings come to you
A Detroit-area title company is offering what its president says is the area’s first mobile closing vehicle, which brings the closing process to the client instead of the other way around. While mobile mortgage closings are nothing new, this is pretty inventive.
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Lehman Brothers suing over crisis-era toxic mortgages

Asks judge to cancel claims by Syncora Holdings and U.S. Bancorp
Ben Lane
Lehman Brothers Holdings filed suit against Syncora Holdings, U.S. Bancorp and GreenPoint Mortgage Funding in an effort to try to get “duplicate” claims filed by those three companies against Lehman Brothers thrown out because Lehman Brothers is ready to settle and move on.
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Analyst: Housing bubble not a question of if but when

As in, when is it going to implode?
Trey Garrison
Charles Hughes Smith at oftwominds.com warns that the industry may be just two years from an implosion of the bubble we’re in. Also, if you didn’t know, he argues we’re already in an echo bubble from the last bubble. Read on.
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Minimum wage workers can’t afford rent

Affordability out of control
Brena Swanson
The gap between stagnant incomes and rising rents in many parts of the country is growing out of control. Right now, there is no state in the country where someone earning either the state or federal minimum wage can afford a market-rate one-bedroom apartment.
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