Trey Garrison was a Senior Financial Reporter for HousingWire.com. Trey served as real estate editor for the Dallas Business Journal, and was one of the founding editors of D CEO Magazine. He has been an editor for D Magazine — considered among the best city magazines in the United States — and a contributor for Reason magazine.
It’s now almost a month since the TILA-RESPA Integrated Disclosure rule went live, and the effects are being felt up and down the pipeline across a variety of services and specialties in the mortgage finance industry. This week we look at the title space. Read on.
I’m not exactly going out on a limb here with a wild bet, but I’m going to go ahead and call it that the Fed won’t be raising interest rates this week. They just don't have the will, even though they have to get it done sometime.
Join it virtually or in person, but tonight Housing and Urban Development Secretary Julián Castro joins realtor’s Chief Economist Jonathan Smoke and The Wall Street Journal’s Nick Timiraos for a virtual town hall at George Washington University.
A congressional push to limit the salaries for the CEOs of Fannie Mae and Freddie Mac moves closer this week when the House version of a bill that already passed the Senate unanimously goes to the House floor for a vote. There's little reason to expect it won't have an easy landing, but then it goes to the White House.
Sales of new single-family houses in September 2015 cratered to a seasonally adjusted annual rate of 468,000. The northeast was the hardest hit with a giant decline, but all four housing market regions saw declines from August. Here's more.
Not to sound too bleak as the leaves start turning and dying, but it’s not a pretty economic picture out there. The only thing that doesn’t look like it’s going to be slowing or dropping are FHA premiums.
Home prices were up 0.3% for the month, according to the August house price index from Black Knight Financial Services. This puts national home prices up 5.6% since the beginning of the year and 27% since the bottom of the market at the start of 2012.
Cash sales made up 30.8% of total home sales in July 2015, down from 34.2% in July 2014, according to CoreLogic. At this pace they could hit just 25% by mid-2017. Here's the breakdown and where there are still investor opportunities.
The mortgage industry is leveraging technology like never before, streamlining processes across the spectrum of lending, servicing, investing and real estate. The combination of regulatory pressure and consumer expectations have set a high standard for efficiency and transparency, requiring a significant investment of time, money and talent to hit the right notes for both.
Ironically, the monkey on the mortgage industry’s back for the past 10 years — increasing regulation — is the very thing that forced companies to find efficiencies in every part of the process, which serves them well as they look to engage tech-savvy consumers. Even as the enforcement of some of those regulations is now in question, the long-lasting benefits of investing in automation will stand.
Mortgage banks have traditionally been slow to embrace new technologies, and while the technology that has improved efficiency, security and customer experience in a multitude of other industries (transportation, education and retail, to name a few) is finding its way into the loan production process, a lot of opportunity still exists in other stages of the mortgage life cycle.