Mortgages

As the real estate market continues to make a comeback, CUs are turning to a credit union service organization to help them book more loans.

Foreclosure inventory is down 31% nationally from one year ago, but this rate remains elevated relative to the pre-crisis level, says a CoreLogic economist.

Higher new home sales may involve discounts to entice buyers.

Banks are looking for investments and the guarantee fees for conforming loans keep rising, making the larger loans more appealing.

In perhaps one of the most significant but least talked about changes, mortgage servicers will be facing revised statutes governing qualified written requests under the Real Estate Settlement Procedures Act.

The nonbank has cracked the nationwide top ten servicing list and now wants to increase originations share.

Cash-rich banks are using adjustable-rate mortgages as a hedge: the loans’ longer-term payments will move in tandem with the lenders’ expected increases in borrowing costs as interest rates rise.

Automated systems reject too many applicants that could qualify for a loan due to compensating factors.

The CFPB estimates litigation expense could be just 10 basis points per loan, or even lower.

NMN also got a wry remark suggesting that big banks could be tapped to help fund the nation’s health care.

The funds are intended to support housing, business and infrastructure needs beyond those addressed by other forms of public and private assistance.

Commercial mortgage-backed securities with balances at or below $10 million dominated transfers to special servicing in 2013 and there is reason to believe the trend will continue, analysts say.

The Patchogue, N.Y.-based company added five branches in New Jersey as well as one branch in Ohio, and is expanding nationally.

Responding to “steadily improving” demand the Brentwood, Tenn.-based lender is intensifying recruitment efforts in strategic markets.

Only Minnesota’s giant Mall of America draws more visitors than the Aventura, Fla.-based shopping center that backs the collateral interests in the more than $1 billion commercial mortgage-backed securitization.

Often one of the biggest obstacles to a refi has been the need for a subordination agreement from a junior lien holder.

A perceived lack of HARP eligibility can be changed, in some cases just by checking addresses.

Small lenders have reduced their payrolls by 11,000 workers since June.

The city of Los Angeles is seeking damages for reduced property tax revenue and the costs of maintaining foreclosed properties, the complaint says.