RE/MAX getting into the mortgage business; launches Motto Mortgage

Plans to open mortgage brokerage franchises across the country
While most of the biggest names in mortgage lending are focused on the Mortgage Bankers Association’s annual conference, taking place right now in Boston, one of the biggest names in real estate revealed that it is getting into the mortgage business. On Tuesday, RE/MAX announced that it is launching Motto Mortgage, a mortgage brokerage franchise that the company plans to take nationwide.
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Case-Shiller: Rising house prices just below record highs

Catching up with 2006
Home prices are continuing to rise; now mere basis points below the all-time highs for prices, set in 2006. According to the latest data released Tuesday by S&P Dow Jones Indices and CoreLogic, the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, which covers all nine U.S. census divisions, reported a 5.3% annual gain in August, just off the July 2006 peak.
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Homeowners facing foreclosure hit 9-year low

Black Knight report shows only 1% of all mortgages in active foreclosure
A new report from Black Knight Financial Services shows that by one metric, the housing market is healthier than it’s been since the crisis began. According to new data released Tuesday morning by Black Knight, the rate of loans in active foreclosure is lower right now than at any point in the last nine years.
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CoreLogic bet on property valuations pays off big time

3Q earnings are in and they are pretty
Third quarter reported revenues totaled $524 million compared with $386 million in the same 2015 period. That year-over-year increase of 36% is driven primarily by its valuation solutions business, which started booming back in the second quarter.
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Freddie Mac announces new tools designed to cut mortgage origination costs

Enhancements to Loan Advisor Suite could help lenders' bottom line
Not to be outdone by Fannie Mae’s announcement that it plans to offer lenders “Day 1” representation and warranty relief, Freddie Mac announced Monday that it is planning a series of enhancements to its Loan Advisor Suite designed to cut mortgage origination costs for lenders.
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China Oceanwide buying Genworth Financial for $2.7 billion

Company plans to "strengthen" mortgage insurance business
Private mortgage insurance is booming right now, and one of China’s largest companies wants in. China Oceanwide Holdings Group announced Monday that it plans to buy Genworth Financial, one of the U.S.’s largest mortgage insurers, for $2.7 billion. Here's more on the deal and why the companies feel it's a win for both parties.
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Altisource Origination Services rebrands as Trelix

Will launch new tech platform in 2017
Altisource Origination Services announced today it is leaving the Altisource name behind, and rebranding itself as Trelix. The name change is more than just a name change, according to the company president, who calls it the next step in the company's evolution. The company will also make another announcement in 2017 introducing its new technology platform.
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Monday Morning Cup of Coffee: Everything you need to know at MBA Annual

HousingWire covers all the bases
Monday Morning Cup of Coffee this week gives a preview of our industry's biggest conference: the Mortgage Banker's Association annual gathering starting now in Boston. We'll still report regular news as we get it and give you everything you need to stay up-to-date for the next few days. 
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NCUA reveals it paid $1 billion to lawyers in fight to recover credit union crisis losses

Total settlement agreements top $4.3 billion
In 2013, the National Credit Union Administration filed suit against some of the world’s biggest banks over the sale of nearly $2.4 billion in faulty residential mortgage-backed securities to several corporate credit unions, which subsequently failed during the financial crisis, due in part to losses from those very same mortgage bonds. The total amount recovered for the failed credit unions in those settlements is more than $4 billion, but for the first time, the NCUA revealed just how much it cost to reach those settlements.
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