Items Tagged with 'Cash out refinancing'


  • New LPS Software Automates Refinance Process

    Jacksonville, Fla.-based Lender Processing Services Inc. [stock LPS][/stock] has launched a new loan refinancing software product for lenders, the company announced Wednesday. RediRefi can automatically identify which of a lender’s loans are eligible for and likely to refinance. From there, the software can pre-qualify those loans for a refinance offer, and execute a targeted marketing campaign. The program is customizable to fit to a lender’s specific needs and integrates with LPS’ other software products.
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  • IRS Encourages Refinance, Sale of Homes Encumbered by Tax Liens

    The Internal Revenue Service was the latest to jump on the homeowner aid bandwagon Tuesday with its announcement it would "make it easier for financially distressed homeowners" to avoid having mortgage refinancing or home sales blocked by a federal tax lien. The new process will allow taxpayers, or a representative like a lender, to request that the IRS make its lien secondary to any existing one owned by the lender that is refinancing or restructuring the mortgage.
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  • GSEs Look to Follow FHA's Lead on Streamlined Refis

    In a twist of fortune, it appears the GSEs are -- for once -- looking to follow the lead of the Federal Housing Administration, with their regulator hinting Wednesday afternoon that a plan to allow for streamlined refinancings is under consideration at both Fannie Mae [stock FNM][/stock] and Freddie Mac [stock FRE][/stock]. In particular, the GSEs are considering a plan to allow some borrowers to refinance without the use of an updated appraisal.
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  • Cash-In Refis Grow; Lenders Taking Lumps?

    It appears lenders may be willing to take a hit on loan modifications, according to data released late last week by Freddie Mac [stock FRE][/stock]. The GSE reported the largest cash-in share -- where the refinanced loan is less than the original loan it paid off -- in three years, while cash-out refinancing continued to slump amid declining home values.
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