A prolonged government shutdown could create delays for homebuilders and first-time buyers if the Federal Housing Administration remains closed for longer than a few weeks, an analyst with Sterne Agee claimed Tuesday.
[Ryland] took pretax charges of $60.4 million for inventory valuation adjustments. New orders dropped 31.6%. The company said its inventory of unsold homes stood at 719 units at the end of September, down 12.6% from the end of 2007...
(At Pulte) Net new home orders for the quarter totaled 3,008 homes, a 34% decline from the same period a year ago.
We have to ask -- in light of today's news that both KB Home and Ryland are planning to roll out nationwide price protection guarantees -- can anyone else without a guarantee sue to get one? We at HW could see plenty of pissed-off borrowers who bought and weren't offered price protection.
Wow! That was our reaction to the response we received for this year’s HW TECH100 call for nominations. This year, more than 250 companies submitted a nomination, and we’re grateful for the interest in our efforts with this unique program..
In the tech world a “stack” refers to all the elements of something. For the mortgage industry, the idea of the single stack is that one platform (digital, automated and based in the cloud) can either meet all of the functional requirements involved in assembling a mortgage, or can serve as an efficient moderator for the process via open APIs (application programming interface), which are now taking off within the mortgage industry. Read More
Nothing reeks of hypocrisy more than the regulator ignoring regulations, but the CFPB has racked up plenty of violations in the last year. And we’re not talking about small, nitpicky examples, but instances that have real-life consequences. If a lender or servicer were to violate any of these standards, they could expect swift and harsh punishment from the CFPB. Read More