S&P Case-Shiller: Home price gains slowed in April

S&P Case-Shiller: Home price gains slowed in April

Nationally home prices gained 4.2%

Realtor.com: Here are the 20 hottest markets this summer

Expanding inventory boosts sales

Pending home sales continue momentum in May

Northeast leads as South, Midwest decline
W S

Items Tagged with 'mortgage servicing'

ARTICLES

Citi fails National Mortgage Settlement loan modification metric

NMS reports on correction action plans
Trey Garrison
Citi failed one of the new metrics used by the National Mortgage Settlement and the Monitoring Committee regarding loan modifications. What about the other big banks?
Read More

Impac boosts lending capabilities with $30M loan from Macquarie Group

Plans to use funds to “opportunistically” retain mortgage servicing rights
Ben Lane
Impac Mortgage Holdings, which is already having itself quite a year, is set to grow its lending capability even more, thanks to a capital infusion from the Macquarie Group. Here are the details.
Read More

OCC: Mortgage performance better in 1Q15

94.2% of mortgages current, up from 93.1%
Trey Garrison
The performance of first-lien mortgages serviced by eight national banks improved during the first quarter of 2015, according to the Office of the Comptroller of the Currency’s quarterly report on mortgage performance. Here's what happened.
Read More

Fitch now has “positive” outlook for Ocwen’s servicer ratings

Cites operational improvements in wake of NYDFS settlement
Ben Lane
Mere days after Standard & Poor’s cut the servicer rankings of Ocwen Loan Servicing from “average” to “below average," citing a “deficient” internal controls environment that has not kept pace with the company’s growth, the Ocwen Financial ratings roller-coaster continues.
Read More

Wingspan closing Florida office, laying off 150 employees

Melbourne location once employed 400 people
Ben Lane
When Wingspan Portfolio Advisors purchased JPMorgan Chase’s mortgage servicing operations center in Melbourne, Florida, in February 2013, the company gave 400 Chase employees who staffed the Melbourne office the opportunity to continue their employment. Now the company plans to close the Melbourne office and lay off the remaining 150 employees.
Read More

Foreclosure activity hits 19-month high on rise in REOs

Starts below pre-crisis levels but auctions, REO activity well above
Trey Garrison
Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 126,868 U.S. properties in May 2015, up 1% from the previous month and up 16% from a year ago to a 19-month high. Here’s why and what it means.
Read More

HOPE NOW reports 153K mortgage solutions for homeowners in April

Permanent loan mods at 44K for the month
Trey Garrison
Hope Now has released its April 2015 report that shows total non-foreclosure solutions (the combination of total loan modifications, short sales, deeds in lieu and workout plans) were approximately 153,000.
Read More

Deutsche Bank: Smaller banks will probably offload MSRs to bigger banks

Basel 3 forcing their hands
Jacob Gaffney
The implementation of the Basel 3 banking regulations, in which a European-devised strategy is levied among American financial institutions, appears to have disproportionately impacted smaller banks for the worse.
Read More

Here’s where California went all wrong with the National Mortgage Settlement

Other states need to make amends, too
Jacob Gaffney
Everyone was on board and the national mortgage settlement money was meant to flow to distressed homeowners in hopes of staving off more foreclosures. It was a feel good moment, one we could all get behind. Then the state stepped in and had to ruin this nice thing for everyone.
Read More

Fannie Mae raising mortgage modification interest rate again

New rate effective June 12
Ben Lane
Fannie Mae is set to raise the benchmark interest rate for its Standard Modification program after lowering it just one month ago. Beginning June 12, Fannie Mae will raise its required interest rate for standard modifications from 4% back to 4.125%.
Read More