MERS, an electronic loan registry based in Vienna, Va., has reported the registration of its 15 millionth loan.The loan was registered April 30 by First Magnus Financial Corp., Tucson, Ariz., MERS said. R.K. Arnold, president and chief executive officer of MERS, said the loan registry "is capturing well over 40% of all the mortgage loans originated in the United States." MERS, or Mortgage Electronic Registration Systems, can be found on the Internet at http://www.mersinc.org.
The partnership was designed to support the growth of Redwood's Sequoia platform and give Castlelake purchasing power for fully documented loans.
Home affordability declined on a monthly basis across loan types and racial demographics, but improved from a year ago, the Mortgage Bankers Association said.
A federal judge harshly criticized the settlement of a civil suit between the Department of Justice and a Texas land developer.
The latest study from LodeStar found the ratio of average closing cost to home sales price in several states, led by Delaware, well above the national average.
The benchmark 10-year Treasury yield topped 4.4% on April 29 — its highest level since late March — as investor anxiety mounted.
The technology firm posted annual gains in servicing, origination and closing solutions, although the segment at large posted an operating loss.
