Jacob Gaffney is the Editor-in-Chief of HousingWire and HousingWire.com. He previously covered securitization for Reuters and Source Media in London before returning to the United States in 2009. While in Europe for nearly a decade, he covered bank loans and the high yield market, in addition to commercial paper, student loan, auto and credit card space(s). At HousingWire, he began focusing his journalism on all aspects of the housing and mortgage markets.
“We had a solid quarter in that our business performance was excellent,” Timothy Mayopoulos told HousingWire by phone. “The quarter’s earning are not a reflection of our underlying business. We will also benefit from the lower corporate tax rate.”
Fannie Mae reported a net loss of $6.5 billion and comprehensive loss of $6.7 billion for fourth quarter 2017. The company also added it expects to request an expected billion-dollar provision from the Treasury to eliminate its net worth deficit.
In his new role, Russell will be responsible for internal operations as well overseeing ServiceLink Auction’s growing market share by supporting the company’s clients in their loss mitigation and disposition strategies, the company said in a statement.
Mortgage analytics and software provider Black Knight announced its results for both the fourth quarter of 2017 and for the full year. The company reports revenues for the fourth quarter of 2017 increased 2% to $267.5 million from $261.5 million in the prior year quarter.
The new application will introduce panoramic photos, video and audio to the field services industry, according to an advance statement released to HousingWire. The Photo Direct options should provide servicers with fuller property-condition views to better assess property damage and validate bids for repair work.
Last year, the big bank was scandal-ridden, charged with overcharging mortgage customers and opening fake accounts. The Federal Reserve said Wells Fargo's business strategy put growing the bank above all other interests and seeks to reverse that alleged, harmful practice.
Brent Nyitray, director of capital markets for iServe Residential Lending, said in an email today that loan officers are taking note of “lousy” pricing for FHA and VAs higher up in the rate stack. But, Ginnie Mae just issued new regulations to prevent serial refinances. Why isn't it leading to higher demand?
Speaking to CNBC, Jamie Dimon said the bank plans to offer an all-digital mortgage to its customers this year. Dimon added that consumers are “in very good shape,” adding that all the credit “extended in the United States,” is super-prime quality, and that includes mortgages. Click here to watch the full interview.
Recent corrections to a Bloomberg piece show that the media still holds us in the mortgage finance sector responsible to that recession that simply won’t seem to fade. Ten years on, and we remain stronger than ever.
Late last night, HousingWire's Twitter account asked the following question: Who are the most influential mortgage and real estate professionals on Twitter? Here's how the Internet responded. Be advised: The answers may surprise you as much as they surprised us.
[Subscribers only] Multigenerational living, where two or more adult generations live under the same roof, is becoming a growing trend in the U.S. Currently about 19% of Americans now live in a multigenerational household, the highest level since 1950. That amounts to about 60.6 million adults in 2014, up from 57 million adults in 2012. And homebuilders have taken notice, designing houses specifically catered to this segment.
Would-be homeowners are inundated with picture-perfect examples of new and remodeled homes brimming with upgrades. But in the real world, homebuilders and investors must calculate the rate of return on these sometimes fleeting trends, weighing what buyers want with what they can actually afford. This feature looks at which features buyers of different age demographics consider the most important, and what that means for sellers.
We’ve found that the handling and posting of payments during bankruptcy has been a widespread issue in our testing environment. Specifically, there is increased risk exposure in pre-and post-petition payment application and treatment, both inside and outside of the bankruptcy plan. Servicers and sub-servicers have created manual workflow workarounds to address the issue, however, it does open the servicer up to more exposure to calculation errors.