The adoption of electronic mortgages is being limited by the small number of investors who will buy e-mortgages in the secondary market, but all that may change next year, according to speakers at the Mortgage EC Conference in Las Vegas.Tim Anderson, executive vice president of Dexma, said people will realize the intrinsic benefits of transacting electronically. He predicted that investors might even start offering incentives. "In 2006, I predict an investor will actually offer 1/8th of a point if the mortgage is electronic," Mr. Anderson concluded. Minneapolis-based Dexma can be found on the Web at http://www.dexma.com.
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The servicer will pay $4.5 million in remediation to affected homeowners for incorrectly imposing force-placed insurance on thousands of borrowers.
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The trade group supports a narrow rewrite of the agency's manufactured home definition but it wants FHA valuation projections before lenders can scale.
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Pending home sales, a real-time indicator of homebuying demand, dropped 2.5% to their lowest level since December, according to Redfin's latest report.
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Mortgage production declined overall in July from activity earlier this summer amid growing rate volatility, according to two new originations reports.
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Long Island-based Dime Commercial Bancshares, which continues to transform itself from a thrift into a commercial bank, is eyeing additional expansion in the Garden State.
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In the latest round of posturing between the one-time merger partners, Two Harbors said the filing was part of a "familiar refrain" by UWM to blame others.
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