2015 started as most affordable housing market in two years

Buying a home was at the most affordable level in two years at the beginning of this year. Somewhat surprisingly, affordability is actually improving in most markets thanks to falling interest rates and slowing home price growth.

New trucking initiative seeks to polish industry’s image to nation

A new trucking advocacy group is trying to buff up and modernize the image of the 7 million Americans involving in the domestic trucking industry.

San Francisco proposes plan to address skyrocketing housing costs

The city of San Francisco is moving to combat its rapidly rising housing costs. The city unveiled a new plan that offers more moderately priced housing in exchange for allowing builders to exceed the city’s current building height restrictions.

JPMorgan financing $100M Los Angeles ‘trophy properties’

Buyers looking for the most extravagant of extravagance have that opportunity, courtesy of Junius Real Estate Partners, which is part of JPMorgan’s private bank. A team led by Junius and developer Domvs London are offering the uber-wealthy the chance to build a mansion overlooking Los Angeles, for the low starting price of $115 million.

EXCLUSIVE: How the Blackstone-Stearns Lending deal came together and what’s next

Almost a month ago, an announcement from Blackstone and Stearns Lending shook up the mortgage lending world. In an exclusive interview with HousingWire, the executives from Blackstone and Stearns Lending share how the deal came together and shed some light on what’s next for Stearns Lending now that it’s part of the Blackstone family.

MBA Stevens: The CFPB’s complaint database is unreliable

Very few people outside the Consumer Financial Protection Bureau are happy about the CFPB’s consumer complaint database. Now David Stevens, president and CEO of the Mortgage Bankers Association, weighs in with his take on the unreliable tool.

CHLA unveils plan for massive GSE reform, ending profit sweep

The Community Home Lenders Association authored an action plan that lays out transitional steps to reform Fannie Mae and Freddie Mac, preserve a government guarantee and protect taxpayers.

Attention Presidential candidates: Hispanic voters want homeownership!

In multiple surveys, Hispanics rank homeownership as the primary evidence of success and the ultimate realization of the American Dream. While the presidential election is more than a year away, the subject of housing has yet to be addressed by most of the candidates.

Declining oil prices will have a muted impact on housing

While everyone enjoys low prices at the pump, the impact of it can reverberate throughout the economy and cause some unintended consequence. However, the severity this time around is a lot less than what the country experienced during the last big oil price decline in the 1980s.

Fatal Realtor kidnapping pushes real estate industry to change

Beverly Carter was kidnapped from a showing and murdered a year ago. Now, her son tells HousingWire that the industry has taken steps to increase safety, but there is much more work to do, or it could happen again.

The answer for affordable housing? Single-family homes

Rentals in single-family homes and small multifamily buildings are a viable solution for helping the significant lack of affordable homes in the housing market. But in order for this to happen, these three policies need to change.

Freddie Mac continues reducing credit risk with new insurance policies

Freddie Mac continues its efforts to limit the taxpayers’ liability by an additional insurance policy designed to cover much of the remaining credit risk associated with one of its Structured Agency Credit Risk transactions from earlier this year.

Brooklyn overtakes Manhattan as hottest rental market in NYC

Renters in Brooklyn face the steepest competition for apartments and also carry New York City's highest rent burden. But the latest facts for Manhattan's rental situation doesn't look much more appealing.

Pending home sales decline 1.4% in August

Pending home sales retreated in August despite analyst expectations of a 0.5% gain. According to the National Association of Realtors' chief economist, "There are looming speed bumps that have the potential to impact housing."

Black Knight: July housing prices rose 0.4%

Black Knight Financial Services’ home price index report for July 2015 shows that home prices jumped 5.3% on a year-over-year basis. This puts national home prices up nearly 27% since the bottom of the market at the start of 2012.

The bad news isn't close to over for the housing sector

A recent industry article reported that bad loans remain well above pre-crisis levels. Does this sound like the housing sector is in a real recovery? Here's one industry expert's thoughts on the issue. You can decide from there whether this recovery is real or not.

Carrington Mortgage Services names Carmen Alailima inside regional sales manager

The wholesale lending division of Carrington Mortgage Services announced the appointment of Carmen Alailima to the position of inside regional sales manager of its wholesale West division, in Henderson, Nevada.

Struggling housing markets use high LTVs to their benefit

While cities like Detroit and Cleveland are not recovering as well as the rest of the country, they are benefitting from higher loan-to-value ratios. And when this is combined with other credit safeguards, the struggling cities should be able to pick themselves back up onto their feet again.

MERS’ mortgage assignment authority upheld by three Federal Courts

MERS announced Friday that it secured victories in three separate Federal Courts, each of which upheld MERS’ mortgage assignment rights. In each case, the plaintiffs sued MERS and other financial companies to avoid foreclosure based on claims that MERS could not hold or assign a security instrument.

Florida mortgage company owner gets 11 years in prison for leading massive fraud scheme

The owner and operator of a Miami-area mortgage company will serve the next 11 years in prison. He was convicted for his part in a massive fraud scheme that defrauded the Department of Housing and Urban Development and the Federal Housing Administration of more than $64 million.

Boehner’s House resignation is huge opportunity for real housing leadership

Boehner's lack of leadership on housing in the House shows someone finally needs to clean house and talk about housing policy. In the House. And the White House. So who will it be? And why is it so critical? Read on.

John Boehner resigns from Congress

Speaker of the House John Boehner will resign and give up his House seat at the end of October. The announcement comes amid intense pressure from conservatives in his party, along with Congress, as they try to avoid a government shutdown.

How strong is the mortgage market really?

Heading into the fall, the health of the mortgage market in 2015 is falling in line with initial expectations at the beginning of the year and above consensus estimates. But how strong is that really?

Final 2Q GDP comes in at 3.9%

Personal spending was stronger than expected in the second quarter, helping to drive real GDP to a very solid 3.9% annualized rate. However, the biggest push was from fixed residential investment.

Black Knight: Mortgage delinquencies see biggest annual drop since 2011

Though mortgage delinquencies rose about 2.5% month-over-month in August, the national delinquency rate saw the largest year-over-year decline since May 2011.

Logistics managers should prepare for surge in Global Trade Management demand

Driven by the expansion of international trade and major new trade agreements, the worldwide market for Global Trade Management (GTM) will continue its strong growth over the forecast period, according to a new ARC Advisory Group study.

Here’s how the CFPB made mortgages easier in rural, underserved areas

Silver State Schools Credit Union is one lender that was deeply impacted by the changes to the CFPB’s mortgage rules, and according to its chief credit officer, the ability to be less fearful of non-QM loans is a huge win for borrowers.

Monday Morning Cup of Coffee: Lenders want Congress to stop FHFA rule change

Everyone talks about Millennials and housing affordability, but a looming crisis may be brewing for retiring Boomers. Also, a look at mortgage bond investment, the FHFA proposed rule on FHLB and more.

August U.S. waterborne shipments rebound after a tough July, reports Panjiva

While July fell somewhat short of expectations for United States-bound waterborne shipments, data from Panjiva, an online search engine with detailed information on global suppliers and manufacturers, shows that August helped make up for the previous month’s shortfall.

Nexgen Mortgage Solutions launches secure, TRID-ready title solution

Nexgen Mortgage Solutions, a wholly owned subsidiary of Linear Title & Closing, is now offering a new end-to-end solution that allows mid-tier lenders to work with their title agents directly from within their loan origination system.

Yellen's speech on interest rates reignites Twitter speculation

Barring any surprises in the economy, Federal Reserve Chair Janet Yellen said she, and most other FOMC participants, anticipate raising the federal funds rate later this year. Which fueled another round of rate hike speculation on Twitter.

FTR’s Gross provides update of intermodal market

While intermodal transportation may not currently be seeing the traction on the domestic side, things are picking up in other areas, most notably on the international side, as well as the ongoing improvements in service levels, said Larry Gross, senior consultant at freight transportation consultancy FTR at this week's Intermodal Expo.

Infor’s $675 million acquisition of GT Nexus is official

Infor, a supply chain and logistics technology services and ERP software provider, said today that its planned acquisition of GT Nexus, a global provider of cloud-based global commerce technology, which was announced last month, has been completed.

How will TRID impact the digital mortgage space?

While the industry is accustomed to regulatory changes, it is typically slow to adopt technological advances. For lenders who already offer a digital mortgage, the TRID implementation is less painful. And even more important, it's significantly better for consumers.

Michaelson, Connor & Boul now offering FHA loan conveyance consulting

Michaelson, Connor & Boul, which served as the Department of Housing and Urban Development’s nationwide mortgagee compliance manager for the last five years, is launching a new consulting division.

New Armstrong report addresses carrier/freight broker mix

Ever-evolving logistics management business models have driven significant change in the Domestic Transportation Management (DTM)/Freight Brokerage landscape

Crops, not coal, are best for Oakland

The Institute for Energy Economics and Financial Analysis is presenting testimony to the Oakland City Council today that questions the wisdom of a proposal to expand the Port of Oakland’s coal-export capacity at the Oakland Army Base Redevelopment project.

SEC settles with former Fannie Mae execs over subprime fraud

A 2011 lawsuit brought by the Securities and Exchange Commission against two former Fannie Mae executives is over. The execs were charged with misleading investors about the quality of subprime mortgages. However, it's the fine print that is leaving people wondering.

Stonegate CEO departure could lead to delisting warning from NYSE

The abrupt departure of Stonegate Mortgage Founder and CEO Jim Cutillo could have Stonegate in a bit of hot water with the New York Stock Exchange, as the majority of its board of directors are no longer independent. The problem: This is in direct violation of NYSE rules.

Goldman Sachs targets Millennial recruits through Snapchat

Goldman Sachs launched a new ad strategy through Snapchat to broaden its allure among Millennials, becoming the first major Wall Street bank to use the app for potential hires. Could Snapchat be one effective way to fix this the aging mortgage industry?

Two New York credit unions placed into conservatorship

The National Credit Union Administration placed two New York-based credit unions into conservatorship, citing “unsafe and unsound” conditions at each credit union. Click here to read more about what's next for each credit union.

More ZIRP from the Federal Reserve surprises exactly no one

The Fed made its decision to not raise interest rates because it boxed itself in with this failed program of artificially propping up Wall Street. It knows full well that with the stagnating world economic picture and the volatility in our stock market, raising interest rates is not worth the risk… yet.

Wait, the San Francisco mummy house sold for how much?!?!?

In case you were wondering just how crazy the real estate market in San Francisco is right now, we present the San Francisco mummy house as Exhibits A, B and C. Not even the mummified corpse of a homeowner, rats, black widows, mold, and hundreds of bottles of urine could keep buyers away.

A Millennial just wrote the dumbest article about money in the history of ever

On a Millennial website called Elite Daily, a twenty-something unleashed the dumbest, most shortsighted, wrong-headed, idiotic, silly, and stereotypically Millennial piece of “advice” in the history of humans. So I couldn't help but take a blowtorch to this "elite" rainbow starfish unicorn and her worldview.

Frank Nothaft: Is the single-family rental market really a strong investment?

The single-family rental market was on fire over the last two years, and according to one chief economist, this boom is not likely to end anytime soon. Frank Nothaft answers the puzzling question: Is the SFR market a short-term phenomenon created by the foreclosure crisis or the real deal fueled by long-term demographics and economic trends?

Here’s how the Fed interest rate looked before ZIRP

The Fed did not raise interest rates on Thursday despite a lot of industry speculation, leaving December as the next viable option. But instead of looking at the future of interest rates, do you know what the past looked like? To better understand the future, use this chart from the Mortgage Bankers Association.

Rep. Randy Neugebauer, champion of housing finance reform, to retire from Congress

Rep. Randy Neugebauer, R-Texas, a champion of housing finance reform who co-authored the PATH Act, which would have wound down Fannie Mae and Freddie Mac, will not seek re-election in 2016.

Appraisal Alert: Activity picks up thanks to potential Fed interest rate hike

Appraisal Alert is a weekly roundup of news, information and trends in the appraisal industry, and this week there's a world of things happening. According to Kevin Golden, director of analytics for a la mode inc, the industry can credit the rise in volume to fears of a rate hike from the Fed.

Monday Morning Cup of Coffee: Industry getting insistent about TRID guidance

A Treasury bureaucrat was misleading under oath, and Nero is fiddling. Also, lenders, appraisers, brokers and pretty much everyone is getting more nervous about TRID, and now there is less than a month until it goes into effect. Are you ready?

Increase Revenue through eCommerce

Many manufacturers are increasing revenues through eCommerce. Whether it is selling directly to the end users, or transacting with partners, eCommerce is now a channel that manufacturers cannot afford to ignore. See a manufacturer's journey through deploying a fully integrated eCommerce solution including the reasoning behind their decision and the benefits they realized.

CFPB announces new members of industry advisory boards

The Consumer Financial Protection Bureau announced the appointment of new consumer finance experts from outside the federal government to its Consumer Advisory Board, Community Bank Advisory Council, and Credit Union Advisory Council. According to the CFPB, all three bodies provide advice to CFPB leadership on a broad range of consumer financial issues and emerging market trends

Supply Chain Outlook Summit: Understanding the True Cost of Doing Business

Supply Chain Management and Transportation Expert Kevin Zweier urges supply chain managers to take a hard look at how emerging channels and distribution networks are impacting the true costs of doing business.

Freddie Mac offering first actual loss high-LTV risk-sharing deal

Freddie Mac breaks more ground in its push to alleviate the risk to American taxpayers by offloading some of its credit risk onto investors. The GSE announced that it intends to expand its Structured Agency Credit Risk Series with its first risk-sharing offering that features actual loss on loans with loan-to-value ratios ranging from 80% to 95%.

FedEx turns in decent fiscal Q1 results while falling short of Wall Street expectations

Quarterly net income at $692 million was up 5.6 percent annually, and revenue at $12.3 billion was up 4.9 percent. Operating income at $692 million was up 5.6 percent. Quarterly operating margin—at 9.3 percent—saw a 2.2 percent annual gain, and earnings per share of $2.42 were up 6.7 percent but were below Wall Street estimates of $2.45 per share.

Economist: Texas is not in a housing bubble

A recent market report shows that home prices in five Texas markets are well above their historical peak levels, which sounds like bad news for the state's housing market. Is the Lone Star state entering a bubble? According to one Texas economist, there is more to the story than just those numbers.

August edition of Cass Freight Index report shows shipment and expenditure declines

August followed a similar pattern laid out in July in the most recent edition of the Cass Freight Index Report from Cass Information Systems, with declines for both freight shipments and expenditures.

New American Funding opens branch in Washington

New American Funding is adding to its nearly 100 branches across the country and announced it opened a new location in Washington State.

FTR reports significant gains in Trucking Conditions Index

The most recent edition of the Trucking Conditions Index (TCI) from freight transportation forecasting firm FTR continued to show a recent growth push, with the July TCI, which is the most recent month for which data is available, hitting a new high for 2015.

Keller Williams posts record expansion

Keller Williams increased its base by 17% since Jan. 1, 2015, growing to more than 125,000 associates. In the first half of the year, Keller Williams shattered monthly records, with transactions up 20% to almost 400,000 units.

Evans Bank settles with New York over redlining

New York’s lawsuit alleged that, from at least 2009 to the present, Evans had redlined Buffalo’s predominantly African-American East Side neighborhoods, intentionally excluding these neighborhoods from its lending area.

Automatic Identification of Pallets

Scan one or multiple codes on any pallet indoor or outdoor, even if the codes are damaged, scratched, folded or covered with a film, and achieve the highest read rates on the market no matter if the reader is fixed on the wall, on a conveyor or even directly placed on a forklift.

XPO Logistics set to make another major acquisition, announcing it plans to acquire Con-way

XPO Logistics said it plans to acquire Con-way, an Ann Arbor, Mich.-based provider of transportation and logistics services, including its flagship less-than-truckload group Con-way Freight, Con-way Truckload, and its global 3PL unit Menlo Logistics.

Distressed sales just 9.4% of homes sold in June

Distressed sales—real estate-owned and short sales—accounted for 9.4% of total home sales nationally in June 2015, down 2.4 percentage points from June 2014 and down 0.9 percentage points from May 2015. Here's what it means for sales and investors.

Safeguard Properties names Pat Hoffman assistant vice president

Safeguard Properties, a provider of mortgage field services, announced the addition of Pat Hoffman to the newly created position of assistant vice president of operations. In this position, Hoffman will assist the chief operating officer in identifying and executing on a number of strategic operational initiatives.

Fannie Mae drops mortgage modification interest rate to lowest level ever

After raising the benchmark interest rate for its standard modification program twice in the last three months, Fannie Mae is set to drop the benchmark rate back down to the lowest level it’s ever been. Click here to read the details.

Freddie Mac makes it easier to get a mortgage modification

Freddie Mac said that this revision will “substantially increase” the number of borrowers who qualify for standard and streamlined modifications and provide additional mortgage payment relief for certain borrowers. Will it really be a game changer?

HUD OIG: More than 25,000 households using public housing despite higher incomes

The Office of the Inspector General of the Department of Housing & Urban Development estimates that there are more than 25,0000 households taking up public housing units that exceed HUD’s 2014 eligibility income ceilings, meaning homes that could be used by 25,000 families in need. HUD's finally taking action.

Dallas real estate pioneer, Ebby Halliday, passes at 104

Ebby Halliday Acers, founder of one of the largest residential real estate companies, passed away overnight of natural causes at 104 years old. “While we grieve the loss of Ebby, our legendary founder and my friend and mentor for over 50 years, we celebrate a long life well lived,” said Mary Frances Burleson, president and CEO of The Ebby Halliday Companies.

Castle & Cooke promotes Jenifer Edwards to national compliance manager

Castle & Cooke Mortgage, an independent mortgage lender with 38 locations across the United States, announced the promotion of Jenifer Edwards from licensing & compliance specialist to national compliance manager.

Zillow completes Trulia integration; begins universal ad sales to agents

The last hurdle in the Zillow-Trulia integration process is now complete. Now, agents that advertise with the Zillow Group can reach a massive audience, all with one ad buy – a fact that Zillow Group CEO Spencer Rascoff views as absolutely crucial for the future of Zillow and the real estate industry as a whole.

Texas Capital Bank breaks into correspondent lending

Texas Capital Bank announced it is launching a correspondent lending program to work in conjunction with its warehouse lending program. And thanks to the new division, the lender expects to hire 100 mortgage professionals in Richardson, Texas during the next year.

Surge in sales leads to tighter housing market

With limited numbers of existing homes coming onto the market, rising sales have led to very tight market conditions, according to a new client note from Capital Economics. This may be good for buyers and here's why.

HW 30 ahead of major indices in early trading

Housing and mortgage finance stocks are leading in gains in early trading — well ahead of the Dow Jones and Nasdaq. But homebuilders are down. Read on.

Henry Cisneros: Presidential candidates need to talk housing policy, now

For generations of Americans, a safe and affordable home has been the foundation for economic success. For many, owning a home has been the key to their financial security and that of their children and grandchildren. We need ideas to fix the current mess.

MGIC: Primary new mortgage insurance slips to $4B

Primary new mortgage insurance slipped lower in August compared to the past two months, falling to $4 billion, according to MGIC Investment’s latest operational summary of its insurance subsidiaries for its primary mortgage insurance.

Mortgage applications drop 6.2% for week

Mortgage applications decreased 6.2% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending September 4, 2015. Here's where the drop was.

Ginnie Mae changes issuer requirements

Citing an increase in the volume and complexity of requests for business status change approvals from its issuers, Ginnie Mae announced Tuesday a series of changes to its requirements. Click here to read Ginnie Mae's new rules.

Is Detroit making a comeback?

Detroit remains an elusive city that the country can't seem to define. Is it destined to be the next greatest city in the country or is the city better left a wasteland? The next five years might be a game changer for it.

Want to know the hottest 20 housing markets in America right now?

Recent stock market volatility and seasonal trends may give buyers better financial options and more time to make purchase decisions entering the fall, says economist Jonathan Smoke. Want to know more?

Judge dumps MBS class action against Goldman Sachs

U.S. District Judge Victor Marrero dismissed a five-year class action lawsuit against Goldman Sachs over the sale of highly leveraged, subprime mortgage bonds that hedge fund Dodona I LLC said Goldman planned to bet against.

Nomura, RBS agree to pay $839M over mortgage bonds

Nomura Holdings and The Royal Bank of Scotland have agreed to a settlement in federal court to pay $839 million over the sale of mortgage-backed securities. Here's how it breaks out.

Woman arrested after renting out abandoned house on Craigslist

A woman was arrested after renting out a vacant home to a family in Wheat Ridge, Colorado, leaving the family without a home. The family moved into the home after searching for a place on Craigslist. The problem: The woman had no authority to rent the residence.

Are liar loans sneaking back into the market?

Beginning hints of liar loans, which are loans made without verifying people's finances, are emerging back into the housing market. Liar loans widely participated in the hoopla that contributed financial crisis, but this time around they only bear passing resemblance to the past.

Gap between what homeowners and appraisers think widens yet again

Homeowner estimates of their home’s value exceeded appraiser opinions by a wider margin than in July, making August the seventh consecutive month of an increasingly wider gap between opinions. Here's what's happening.

Judge tosses two shareholder lawsuits against Ocwen Financial

Ocwen Financial Corp. on Friday won the dismissal of two securities class actions that arose from alleged compliance issues related to servicer agreeing to a $150 million settlement in 2014, and now shares of the company are trading higher. Read on.

CoreLogic: National foreclosure inventory shrinks 28% since last year

The national foreclosure inventory declined by 27.9% and completed foreclosures declined by 24.4% since July 2014, according to the latest foreclosure report from CoreLogic. Here's the lay of the land.

Rasmussen: 83% oppose government role in neighborhood diversity

American voters overwhelmingly say that it is not the government’s job to try to bring those of different income levels to live together, and they reject the rules from the Department of Housing & Urban Development designed to “affirmatively further fair housing.”

Mortgage Bankers expect sellers’ market in 2016 despite possible rate hike

The majority of Lenders One mortgage banker members (60%) expect 2016 will be a sellers’ market and the vast majority (89%) of members believe the market could weather a possible interest rate increase this fall.

Black Knight: U.S. total equity up $825B to $7.6T

Home equity in the U.S. has increased by nearly $1 trillion in the past year to the highest level since 2007, and that has direct implications for borrowers’ ability to access the equity in their homes. Want to know how?

Executive Conversation: Debbie Lastoria on lien verification

NTC has created an executive team which has nearly 300 years of combined experience and deep expertise in this industry. Collectively, this knowledge gives us the edge to stay ahead of the game in this ever-changing world.

AAR says chances of PTC deadline being met are slim

While railroads and other industry-related entities have made it clear that the Congressionally-mandated December 31, 2015 deadline for Unites States freight and passenger railroads to implement Positive Train Control (PTC) is unlikely to be met on time, the Association of American Railroads (AAR) said today that chances of it happening are bleak.

SEC, U.S. Attorney charge three former Nomura RMBS traders with fraud

The Securities and Exchange Commission and the U.S. Attorney’s Office for the District of Connecticut are charging three former Nomura Securities International residential mortgage-backed securities traders with fraud, accusing the trio of “repeatedly lying” to customers about the pricing information of mortgage bonds and defrauding customers of millions of dollars.

Shipper compliance “refresher course” on deck

While shippers ready themselves for the long Labor Day weekend, we’d like to remind them that new security and compliance regulations are - as always – looming ahead.

Carrington Mortgage Services names Dennis Hueman senior vice president

In this position, Hueman will lead Carrington’s mortgage lending centralized operation in all aspects of tactical management and deployment of corporate objectives to deliver products and services.

Zillow sells Market Leader for massive loss

Zillow Group announced that it plans to sell Market Leader, a customer relationship management system for the real estate industry, to the Perseus Division of Constellation Software, an international provider of software and services. When Trulia bought Market Leader, the purchase price was reported to be as high as $355 million. Zillow announced Thursday that it is selling Market Leader for $23 million.

Supply Chain Outlook Summit: Procurement’s Value Proposition

You’ve heard the old saying, it was the best of times, it was the worst of times. Rob Handfield sees this as the best of times for procurement professionals, who have an opportunity to deliver real value to their organizations

ARMCO announces TRID mortgage data comparison tool

ACES Risk Management, a web-based financial services quality control software provider, announced the release of TRIDCompare, a data comparison tool specifically designed for the new TILA-RESPA Integrated Disclosure forms.

Truckload failures take a welcome step back in Q2, according to Avondale data

Putting the renewed strength in the truckload market into a very positive perspective is a report issued by Avondale Partners analyst Donald Broughton, which was released yesterday. Entitled, “Q2’15 Trucking Capacity; Goldilocks Era Continues,” Broughton explained that in the second quarter only 70 truckload fleets failed, or exited the business. That number may seem high to some, but it is not, especially when you consider that the second quarter of 2014 saw more than five times as many truckload carriers, 375 to be exact, exit the business.

For sale: Babe Ruth’s NYC apartment

Interested in owning a little piece of New York Yankees’ history? Well, you’re in luck because you can buy the New York apartment built and once owned by Babe Ruth. The price tag for the “home that Ruth Built” on the Upper West Side? $1.595 million.

Zillow: Mortgage access remains a barrier to potential buyers

It had been getting progressively easier to obtain a mortgage since 2012, but the first several months of this year marked a pause in easing access to mortgage credit. Still obstacles remain, but what are they really? Analysts disagree.

M&T Bank reaches settlement over discriminatory lending charges

M&T Bank Corporation reached a settlement agreement over discriminatory lending charges with the Fair Housing Justice Center. The settlement includes a nearly half-million dollar fine and several other stipulations.

HUD proposes new rules for FHA loans

Answering questions raised by, amongst others, leading Democrats in the House and Senate, Department of Housing and Urban Development released a revision to its previously announced changes to the rules for lenders that remit loans to the Federal Housing Administration. Click here to read about how the FHA's rules are about to change.

TitleOne acquires Sun Valley Title Company

TitleOne, an Idaho-based provider of title insurance and settlement services, announced the acquisition of Sun Valley Title Company. With the expansion, TitleOne now has 15 total offices and more than 200 employees in 14 Idaho counties.

Reminder: Rehab REOs to increase profits

Servicing and asset management organizations involved in the mortgage default arena need to look once again at each REO property on an individual case-by-case basis to determine if rehabilitation and/or property improvements are the best marketing strategy for each property.

Prominent Miami developers plead guilty for $36M affordable housing scheme

Several prominent Miami property developers and a well-known Fort Lauderdale contractor pleaded guilty this week to charges that they conspired to steal government funds intended for affordable housing projects. Click here to read more.

Homeowner beats HOA in lawsuit over purple backyard playground

Good news: The purple swingset can stay. A Missouri judge has ruled that a suburban Kansas City family's backyard playground won't need to have its color changed after a homeowners' association threatened the family with fines or jail time.

The do’s and don’ts of good credit for Millennials

If you are a Millennial preparing to get a mortgage for a new home, you should begin building credit as soon as possible. Try these tips on what to do and not to do to build credit.

Tuesday’s stock market crater hits housing stocks worse than Dow, Nasdaq

Today’s market collapse — the latest in a string of them — is once again hitting the stocks that drive the housing and mortgage finance economy worse than the major indices in early afternoon trading. Here's the carnage as of 2:10 p.m. ET.

Construction spending rises to 7-year high

Overall construction spending during July 2015 was estimated at a seasonally adjusted annual rate of $1,083.4 billion, 0.7% (±1.5%) above the revised June estimate of $1,075.9 billion, the Census Bureau reported Tuesday. Here's what it means for housing.

Mortgage technology product showcase: ClosingStream

The ClosingStream solution not only gives consumers the mortgage borrowing experience they want, but it creates efficiencies for the lender. By following ClosingStream’s online delivery and acknowledgement solution, lenders can save up to four days over mail-away disclosure processes.

Mortgage technology product showcase: Roostify

The Roostify platform allows everyone involved in the transaction to see exactly where the paperwork is in the pipeline and who the point person is for moving it along that phase of the chain.

Mortgage technology product showcase: Closing Insight

Closing Insight allows both lenders and settlement agents to efficiently collaborate on documents and fees to meet the new timeline requirements and enable an automated collaborative disclosure workflow between lenders and agents.

Mortgage technology product showcase: Path Software

The structure of the software eliminates the need for outside systems for the front and back end and provides data integrity by requiring loan data to match the lock data.

Mortgage technology product showcase: Loan HD Enterprise

The platform incorporates unique innovations to verify and validate loan file data from accurate pricing and eligibility, through the classification and data extraction of submitted loan documents, audit rules automation and structured audit workflows, to servicing on-boarding and loan performance analytics.

Mortgage technology product showcase: eTrac Enterprise

eTrac Enterprise is a 100% web-based, single-source valuation management platform that centralizes and compliantly automates all aspects of the appraisal process: vendor management, orders, assignments, tracking, accounting, delivery, reviews and sells.

Mortgage technology product showcase: Encompass Product & Pricing Service

Using the service also increases users’ bottom line. In fact, a recent MarketWise Advisors ROI study showed that users saw as much as $970 of added value per loan with Encompass. This came about through improved compliance, loan quality and efficiency when using the integrated products and services within the full Ellie Mae suite.

Mortgage technology product showcase: ConformX

ConformX gives lenders confidence that the final loan product is compliant, since it incorporates automated system defaults and rules-based data population. This automation reduces the possibility of human error in the loan process and also prevents data modification outside of the LOS, since the data is imported directly from the LOS.

Mortgage technology product showcase: Funding Suite

Creating new solutions that make the operational challenges of purchasing and analyzing credit services easier, more efficient and at lower cost is part of Cogent Road’s DNA. DiPaolo and Alan Baia, the company’s founders, share an office and spend the majority of their workweek conceiving new software functionality and designing systems.

Revealing g-fee costs to homebuyers

If consumers are confused by the difference between their interest rate and an APR — which is what the CFPB found in their surveys — it’s a safe bet that these same consumers have absolutely no idea what a guarantee fee is.

Manufacturing slides in August but still showing growth, reports ISM

The Institute for Supply Management’s (ISM) August edition of the Manufacturing Report on Business saw its PMI, the ISM’s index to measure growth, fall 1.6 percent to 51.1, following a 0.8 percent decline to 52.7 in July. Even with the relatively slow growth over the last two months, the PI has been at 50 or higher for 31 consecutive months.

Mortgage technology product showcase: Active Insight

Active Insight is powered by the Black Knight Data Hub, which enables clients to access all of their loan data on Black Knight systems, such as Black Knight MSP, Empower, and LoanSphere applications, from a central repository.

Mortgage technology product showcase: Aspen iProperty

Aspen iProperty’s reporting functions provide the ability to perform audits and view uploaded documentation from vendors, to ensure that all work performed not only meets regulatory guidelines, but also fulfills contractual obligations to the business.

What the Supreme Court's disparate impact ruling means for lenders

"The questions become, ‘Do the courts find a distinction between housing policy and lending, as in whether to make a loan and how you price that loan? Does the government get broader discretion than the private sector?’ ” Andreano said. “It’s not fleshed out.”

Freddie Mac rising

Layton has over 35 years of experience in financial services and as a corporate leader. He worked for nearly 30 years at JPMorgan Chase and its predecessors, starting as a trainee and rising to vice chairman and member of the three-person Office of the Chairman, retiring in 2004.

CoreLogic: Home prices rose 6.9% in July 2015

Home prices nationwide, including distressed sales, increased by 6.9% in July 2015 compared with July 2014, according to CoreLogic. Texas led while Mississippi and Massachusetts bled. Want to know more?

Company Spotlight: Auction.com

“Within our competitive environment, we have a pretty significant lead in terms of our technology deployment,” Sharga said. “Our partnership with Google has been very helpful to our product and engineering teams, which are tapping into Google’s expertise for mobile development and SEO optimization."

How auction companies are disrupting traditional home-buying

But investors aren’t the only ones interested in auctions these days. In survey results from last year, Auction.com found a startling 30% to 40% of its registrants were owner-occupants — people who wanted to buy houses to live in them.

Mortgage technology product showcase: Sapphire and Pathway

Additionally, customers utilizing Sapphire or Pathway solutions — before delivering to these portals — have the ability to utilize a number of automated quality control tools including automated QC order and review rules and upfront appraisal scoring by VeroSCORE to provide a determination of appraisal risk.

Post-vacation thoughts on the rest of 2015

As the calendar turns to September and we approach 2015’s final third, there are, as usual, many things that require our attention from a freight transportation, logistics, and supply chain perspective.

Optimal Blue promotes Nadia Aziz to chief commercial officer

Optimal Blue, a provider of cloud-based enterprise lending services to the mortgage industry, announced the promotion of Nadia Aziz from executive vice president to chief commercial officer. In her new role, Aziz will be responsible for Optimal Blue's key functions of product management, marketing, and sales, and will focus on creating a stronger integration across these areas.