Technology

Private-equity firms and hedge funds are increasing their control of the rights to collect America’s monthly mortgage payments, an almost $10 trillion market that banks are retreating from amid looming regulations.

Even though builder confidence is currently at an eight-year peak with a mark of 58, there is some hesitancy from buyers due to the recent increases in interest rates.

The industry needs to realize that the only way lenders and servicers can possibly protect themselves from future lawsuits, claims, buybacks or loan disputes is to take everything they do into the electronic realm.

The spread between the one-month certificate of deposit interest rate and the 30-year fixed-rate mortgage is around 4.4% right now, about 55% higher than the 40-year historical average of 2.83%.

Home Affordable Modification Program servicers have completed nearly 151,000 loan modifications where the borrowers benefit from principal reductions and 129,000 of those loans are still active.

There was a 0.7% rise in home prices in July from June, according to the FNC Residential Price Index.

There were nearly 2% fewer homes sold in California in August compared with July’s revised figures, although it is over 3% when compared with August 2012.

Ginnie Mae MBS issuance totaled $35.3 billion in August, down nearly 10% from the prior month.

Pricing engines are a tool that allows loan officers to give consumers a better understanding of what is being offered.

Douglas Smith says it doesn't happen in the pages of a book.