Friday 30 October 2015

LenderLive names Pete Pannes chief revenue officer

LenderLive Network, a domestic-based, end-to-end mortgage services provider, announced the addition of Pete Pannes as the company’s first chief revenue officer. As LenderLive’s chief revenue officer, Pannes will be responsible for corporate sales, marketing and positioning strategies, as well as product development.

Thursday 29 October 2015

Inventory overhang continues to impact economic outlook

It is not entirely surprising that high inventory rates are cited first as one of the reasons for a paltry third quarter GDP number. That has been the case for a while and it is evident in the inventory-to-sales ratio, which stands at 1.37 through the end of August, compared to 1.30 in August 2014.

Stegman doubles down: White House will not recapitalize Fannie, Freddie

For the second time in less than a fortnight, a senior official from the Obama administration has said, unequivocally, that the White House will not support ending the conservatorship of Fannie Mae and Freddie Mac by recapitalizing the government-sponsored enterprises.

Wednesday 28 October 2015

House approves short-term extension for transportation authorization

Shortly after the House Transportation and Infrastructure Committee introduced a short-term transportation authorization earlier this week, which would fund and extend authorization for federal highway and transit programs through November 20, the House of Representatives formally approved the legislation yesterday.

Hillary Clinton says she’d let big banks fail

Over the last few months, Democratic presidential frontrunner Hillary Clinton has gone out of her way to position herself as a non-supporter of the country’s biggest banks, perhaps as part of a plan to woo those on the left who would rather see Senator Elizabeth Warren running in Clinton’s place. Clinton took it to another level in an appearance on "The Late Show with Stephen Colbert."

Tuesday 27 October 2015

Home prices rise 0.3% in August, up 5.6% since January

Home prices were up 0.3% for the month, according to the August house price index from Black Knight Financial Services. This puts national home prices up 5.6% since the beginning of the year and 27% since the bottom of the market at the start of 2012.

Black Knight earnings move from loss to profit

Commenting on the results, Bill Foley, executive chairman of Black Knight, said, "Our third quarter results reflect continued strength in the fundamental drivers of long-term growth, as we continue to execute on our strategic initiatives."

PHH Home Loans promotes Kevin McGarrity to Northeastern regional executive

PHH Home Loans, a joint venture between PHH Mortgage and Realogy Holdings Corp, announced that the company promoted Kevin McGarrity into the role of regional executive for the Northeastern region. McGarrity most recently served as regional vice president of PHH Home Loans for New Jersey, Pennsylvania, Delaware and New York.

Fidelity National third-quarter revenue holds steady at $2 billion

Fidelity National Financial reported Tuesday that it posted total revenue of $2 billion in the third quarter, which equaled its revenue total from the second quarter of this year. The company's third-quarter revenue total topped industry estimates, but its earnings per share fell slightly below expectations.

[Infographic] Is your renter secretly a vampire or witch?

It’s not abnormal for your renter to have a specific list of details that they want in their future home. But what if some of their requests are making you second guess whether or not you are housing a vampire or witch.

HouseCanary adds Tom Ciulla as president of enterprise sales

In this role, Ciulla will be responsible for developing strategic client relationships, alliances and partnerships across a wide array of industries, including mortgage, appraisal, financial services and real estate brokerages.

[Infographic] Here’s what you need to know about renting your first apartment

If despite all the data out there on the benefits of homeownership, you’re still opting to rent an apartment, then here are some tips on what you can expect.

NYDFS superintendent to step down amid rumors of tension with Cuomo’s office

The acting superintendent of the New York Department of Financial Services will step down later this year, amidst rumors of tension between the NYDFS and the office of New York Governor Andrew Cuomo.

What’s the exact cost of compliance on mortgage originations?

It’s not as simple as saying the new compliance rules cost the industry “x” amount of dollars in expenses. However, executives at the Mortgage Bankers Association did give some insight on what factors lenders can use to figure out just how much these compliance rules will dent their profits.

Homeownership rate rises for first time in 2 years

After dropping to the lowest level in 48 years in the last quarter, the homeownership rate in the United States increased during the third quarter. The increase during the third quarter was the first time the homeownership rate increased in two years.

Case-Shiller: Home prices up nearly 5%

Home price growth was strong in August, underscoring that the market has momentum going into the final months of the year, according to The Wall Street Journal.

Radian earns $70 million in third quarter

Mortgage insurance at the company remains steady. New mortgage insurance written was $11.2 billion for the quarter, compared to $11.8 billion in the second quarter of 2015 and $11.2 billion in the prior-year quarter.

CoesterVMS disclosure calculator now available on Ellie Mae’s Encompass

As of Monday, users will be able to request, manage, and place orders directly from Encompass, which CoesterVMS said will streamline the disclosure process.

The same culprits are re-inflating the housing bubble

Although there is plenty of blame spread across Wall Street for the housing crisis, to many involved in the mortgage and real estate industries, as well as to consumers themselves, the true enabler was our government. Now, evidence abounds that the bubble is being re-inflated by these very same culprits.

Here’s how TRID is reshaping title companies

It’s now almost a month since the TILA-RESPA Integrated Disclosure rule went live, and the effects are being felt up and down the pipeline across a variety of services and specialties in the mortgage finance industry. This week we look at the title space. Read on.

DBRS settles with SEC over misrepresenting mortgage bond rating capabilities

Credit rating agency DBRS misrepresented its mortgage bond rating capabilities over a three-year period and will pay nearly $6 million to settle charges brought against it by the Securities and Exchange Commission, the SEC announced on Monday.

Calling it: There won’t be a rate hike this week

I’m not exactly going out on a limb here with a wild bet, but I’m going to go ahead and call it that the Fed won’t be raising interest rates this week. They just don't have the will, even though they have to get it done sometime.

Freddie Mac offloads $500 million in credit risk to insurers

Freddie Mac announced Monday that it obtained its largest insurance policy to date designed to cover much of the remaining credit risk associated with one of its Structured Agency Credit Risk transactions from earlier this year.

Join HUD Secretary Castro and economist Smoke online tonight for housing chat

Join it virtually or in person, but tonight Housing and Urban Development Secretary Julián Castro joins realtor’s Chief Economist Jonathan Smoke and The Wall Street Journal’s Nick Timiraos for a virtual town hall at George Washington University.

House will vote this week on measure to limit CEO pay at Fannie, Freddie

A congressional push to limit the salaries for the CEOs of Fannie Mae and Freddie Mac moves closer this week when the House version of a bill that already passed the Senate unanimously goes to the House floor for a vote. There's little reason to expect it won't have an easy landing, but then it goes to the White House.

[Webinar] Dear mortgage lenders, prepare yourself for Millennial homebuyers

The largest generation is growing up, and quick. And contrary to popular belief, they do want to buy homes; but not in the same way as their predecessors. Millennials demand social media, online banking — and yes, online mortgages. So what are you doing to prepare your company? These expert panelists will fill in the gaps you still need this wednesday in a HousingWire Webinar.

New home sales collapse 11.5% in September

Sales of new single-family houses in September 2015 cratered to a seasonally adjusted annual rate of 468,000. The northeast was the hardest hit with a giant decline, but all four housing market regions saw declines from August. Here's more.

Monday Morning Cup of Coffee: Is the Great Slowdown coming?

Not to sound too bleak as the leaves start turning and dying, but it’s not a pretty economic picture out there. The only thing that doesn’t look like it’s going to be slowing or dropping are FHA premiums.

Monday 26 October 2015

House introduces short-term transportation authorization

While the House Transportation and Infrastructure Committee has its sights set on a long-term transportation authorization for the future, the present is a bit more short-term, with an announcement today that a short-term extension has been introduced.

What's the best day to list a house for sale?

“Currently, more agents are listing homes on Friday than any other day of the week, but homes listed on Thursday sell faster and for higher prices,” said Mike Minihan, managing broker of Terrace 24.

Friday 23 October 2015

IPA reports UPS pilots nearly in full agreement to authorize strike against UPS

By a whopping 2,252-to-8 margin, UPS pilots voted to authorize a strike against their employer, UPS, the Independent Pilots Association (IPA), the trade union representing UPS pilots, said today.

Realtor.com Chief Economist Jonathan Smoke announces run for President

For all their posturing and preaching, until very recently, many (if not all) of the candidates in the 2016 presidential campaign had not even broached the subject of housing in their campaign speeches. Well, it turns out there’s a new candidate who will talk about housing, and talk about it extensively. In fact, he’s making housing his sole campaign platform. And given his day job, it makes sense.

Thursday 22 October 2015

eBook: Omni-Mode Integration Unifying Private Fleet & Purchased Transportation

Private fleet or purchased transportation? That's the question companies regularly debate. Both approaches face similar business challenges - how to reduce transportation spend and operate more efficiently while enhancing customer service. Traditionally, a company's private and purchased transportation processes operate in isolation. Today however, there is a paradigm shift to a consolidated model that in fact unifies even the most complex shipping environments. This optimization of transportation across all modes, often referred to as omni-mode transportation, is the approach that today's industry leaders have adopted Descartes' ebook offers best practices and strategy tips for successful Omni-Mode Integration.

HOPE NOW reports 118K mortgage solutions in August

Foreclosure sale activity is at its lowest level as of August 2015 since HOPE NOW began collecting data. The current data is welcomed news since it shows significant improvement at the nationwide level.

CoreLogic sees revenue climb 5% in third quarter

CoreLogic reported a growth in revenue in the third quarter. According to the company, the growth was driven primarily by property, insurance, international and underwriting solutions, which more than offset foreign currency translation impacts and lower project-related volumes.

Is the mortgage industry entering a new era of partnership?

Title companies are beginning to pool their resources with former competitors, forming alliances to leverage their resources and assets and thereby cutting costs (e.g. with “back office” functions). This is less likely a trend than it is a new “normal.” Together, the industry needs to seek ways to become even more efficient.

Fannie Mae: Actual loss risk-sharing deals will be the standard moving forward

Fannie Mae announced the pricing of its first actual loss credit risk-sharing deal, and said that offering the actual-loss position will be the standard for its Connecticut Avenue Securities risk-sharing series moving forward.

NAR lends support to bill that would overhaul FHA condo restrictions

The Federal Housing Administration's current restrictions on condominium financing present a significant hurdle for one of America's most affordable options, according to testimony given on Capitol Hill by Chris Polychron, the president of the National Association of Realtors.

Are vendors the CFPB’s next target?

Speaking this week at the Mortgage Bankers Associations’ 102nd Annual Convention and Expo, Richard Cordray, the director of the Consumer Financial Protection Bureau, issued a warning that should have one segment of the mortgage finance industry quaking in its proverbial boots. Vendors, you have a problem.

Executive Conversation: Michele McGovern on the benefits of real-time analysis

Real-time, dynamic analysis is crucial for lenders who want to keep their organization in a proactive state, rather than just reacting to market changes. They don’t have to sit back and wait for things to change in the industry — they can make contingency plans by running different scenarios and compare them side-by-side.

OCC: Credit risk now at the forefront of concern

As the economy recovers and banks once again take on the risk of less-creditworthy borrowers, the Office of the Comptroller of the Currency has signaled that its focus is shifting, too — away from the operational and compliance risk it has emphasized since the financial crisis and back to credit risk.

HUD proposes new rule to further protect victims of harassment

Victims of harassment in housing may soon have more protection thanks to a new rule proposed Wednesday by the Department of Housing and Urban Development. The proposed rule would formalize the standards for victims of harassment in housing to bring claims under the Fair Housing Act.

First American introduces new tools to fight fraud

First American Financial, a provider of title insurance, settlement services and risk solutions for real estate transactions, announced the integration of its DataTree property research solution with its FraudGuard loan-level fraud detection and data integrity tool.

Is the credit box finally showing signs of opening up?

Over the last 18 months, the federal government and the enterprises that it sponsors have taken several significant steps in an effort to open up the credit box and ensure more lending is done to more people. Now, a new report from Ellie Mae suggests that those efforts may finally be taking hold.

Government applications drive big increase in mortgage apps

Mortgage applications increased 11.8% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending Oct. 16.

[Video] MBA's Stevens details False Claims risk

David Stevens, CEO of the Mortgage Bankers Association, sat down with HousingWire to outline the issues banks are having with the new regulations from the Department of Housing and Urban Development under the False Claims Act. Watch this video to see what Stevens says the government needs to do.

S&P/Experian: Mortgage default rates fall in September

After rising in August, the rate of first and second lien mortgage defaults fell in September, according to the latest S&P/Experian Consumer Credit Default Indices. Click through to learn more.

CFPB: We’re working to make new HMDA implementation easier

Changes are coming that will make the current Home Mortgage Data Act more complex and complicated. Now that the 800-plus pages of the rule are out, lenders are showing both praise and concern.

Cordray, Watt: Mortgage industry matures to meet new regulatory framework

A meeting between the heads of the Consumer Financial Protection Bureau and the Federal Housing Finance Agency turned into a preview for the 2016 FHFA Scorecard — with a look at the status of the Common Securitization Platform and Single Security and the move towards increasing credit risk transfers.

B2R Holdings is now Lending.com

B2R Holdings, the parent company of B2R Finance and Dwell Finance, announced that it is rebranding and will now be known as Lending.com. According to a release from B2R, Lending.com is a “transformative technology platform designed to address industry fragmentation and offer a faster, lower-friction process for consumers, entrepreneurs and established businesses alike.”

Ellie Mae hires Piper Neal Beveridge as VP of government and strategic relations

Before joining Ellie Mae, Beveridge spent 13 years at Fannie Mae, where she led multiple strategic initiatives, including spearheading the Uniform Collateral Data Portal/Uniform Appraisal Dataset initiative, which standardized electronic appraisal data for all loans sold to Fannie Mae and Freddie Mac.

Reynolds and Reynolds acquires IDS

Reynolds and Reynolds, a provider of automotive dealership software, documents and compliance services, and digital marketing, announced the acquisition of International Document Services, a provider of mortgage documents and compliance services. The acquisition of IDS will bring Reynolds and Reynolds' docuPAD to the mortgage industry.

Executive Conversation: Sal Miosi on developing targeted solutions for customers

The benefit of having a high-level, cross-functional team lead our innovation efforts is that it shortens cycle times. We can move from idea to launch with speed because key parties are engaged at all points in the product design and implementation process simultaneously as opposed to serially.

Housing starts jump to 3-month high but permit decline could signal looming slowdown

After falling to a three-month low in August, housing starts rose in September to a three-month high and the second highest level in more than seven years, but one analyst says that there is some potentially troubling news hidden behind those positive numbers.

It’s a wrap: MBA annual ends on high note

After last night’s news that the Mortgage Bankers Association expects mortgage originations to shrink, the trade group closed its conference with a bright explanation.

Wednesday 21 October 2015

ClosingCorp launches real-time closing cost estimates

ClosingCorp, a provider of residential real estate closing cost data and technology for the mortgage and real estate services industries, announced the launch of a new tool that enables lenders to provide borrowers with realistic closing cost estimates in real-time.

MBA graduates 34 from residential Future Leaders Program

The Mortgage Bankers Association has trained more than 400 real estate finance professionals through its Future Leaders Program since 1996. This week at the MBA's Annual Convention and Expo, 34 residential mortgage finance professionals joined that number in a graduation ceremony that highlighted their accomplishments.

Tuesday 20 October 2015

Truck tonnage shows modest September gains but concerns remain, reports ATA

Seasonally-adjusted (SA) for-hire truck tonnage in September at 135.1 (2000=100) was 0.7 percent of August’s 134.1, and was 0.7 percent below the all-time high of 135.8 recorded in January 2015.

Freddie Mac announces partnership with The Mortgage Collaborative

Freddie Mac announced a partnership with The Mortgage Collaborative, an independent mortgage lending network of small, mid-sized and community-based lenders, that will help the group’s members build better businesses and compete more effectively in today's dynamic mortgage market.

Monday 19 October 2015

Shippers must remain vigilant if California’s ports are to recover

John McLaurin, president of the San Francisco-based Pacific Merchant Shipping Association tells shippers that complacency is not an option

MBA predicts mortgage lending will shrink next year

Before their presentation on Tuesday, Mike Fratantoni, MBA’s chief economist and senior vice president of Research and Industry Technology, and Marina Walsh, MBA’s Vice President of Industry Analysis, gave a sneak preview to the press on what the industry can expect in originations next year. Click the headline to read more.

Friday 16 October 2015

Clayton Holdings names Andrew Pollock head of consulting services

Clayton Holdings, a provider of loan due diligence, surveillance, REO management, and consulting services to the mortgage industry, announced the addition of Andrew Pollock as senior managing director of Clayton Consulting Services.

Attending the Supply Chain Outlook Summit? Prepare to Be Impressed!

This Summit will feature presentations from highly respected Supply Chain experts.

Thursday 15 October 2015

Port of Los Angeles and Port of Long Beach September volumes mixed but trending in right direction

Total POLA September volumes were down 5.8 percent at 730,306 TEU (Twenty-Foot Equivalent Units) compared to September 2014, which was one of the strongest months in the port’s history, and POLB September volume was up 4.1 percent annually at 655,624 TEU.

RES.NET launching loss mitigation portal

RES.NET, a technology platform that allows mortgage banking companies, vendors, consumers and other parties to communicate around a transaction, will officially announce a loss-mitigation portal at next week’s Mortgage Bankers Association Annual Convention in San Diego, but the company provided HousingWire with an advanced look at what’s to come.

Sneak Peek: See Who Is Sponsoring the Supply Chain Outlook Summit

Check out the leading vendors that will be showcasing their products and services at the Supply Chain Outlook Summit November 2-3 in Chicago.

CFPB, regulatory concerns drive Bank of America out of MSAs

Citing “recent regulatory developments,” Bank of America will become the latest lender to discontinue its use of marketing services agreements. The move comes just days after the CFPB issued guidance on MSAs, which some in the industry viewed as a "strong warning" against using the marketing agreements.

Wednesday 14 October 2015

Q2 large truckload carrier driver turnover rate heads up, reports ATA

The ATA said that the annualized turnover rate for large truckload carriers, which it defines as truckload fleets with more than $30 million in revenue, increased 3 percent to an annualized rate of 87 percent in the second quarter.

Is the rental market about to bust?

The status of the rental market is buried beneath two seemingly different market indictor reports. However, after a little digging, a new Capital Economics report discovered the likely reason behind the two opposing indicators, noting things are not as bad as they appear.

Tuesday 13 October 2015

Denver’s marijuana boom pushing city into housing crisis

The legalization of marijuana in the state of Colorado has had a positive impact on the state’s economy, but the state’s largest city is facing a housing crisis, as steeply rising home prices are pricing out much of the city’s population.

Coming soon: Down payment insurance for borrowers

A new program launching early next year will give borrowers the opportunity to protect their upfront investment in their home, just as lenders are able to do with mortgage insurance. Meet down payment insurance — for borrowers.

7 common myths about the homebuying process

While homebuying is a very intensive process, what you may be inaccurately assuming could be what’s keeping you from your dream home.

Questions arise on how the TRID transitional period works

The legal analysts at Ballard Spahr dig into the issues still being raised about how the transition period for the TILA-RESPA Integrated Disclosure rule works, and the issue of civil lawsuit liability. Find out what you need to know.

Housing advocates celebrate anniversary of Community Reinvestment Act

Affordable housing advocates have an additional anniversary to celebrate on Columbus Day, the 38th anniversary of the Community Reinvestment Act.

[Study] Americans shop around for everything but mortgages

Americans are far more likely to go out of their way just to save 10 cents on a gallon of gas than they are to shop around for the best rate on a home loan. A new study found that 79% of Americans consider themselves to be “bargain hunters." But that bargain hunting ends for major financial loans, like cars and houses.

Here are the 3Q bank earnings to watch for this week

It’s time for banks to post their earnings again, shedding light on the health of the mortgage industry. These are the first reporting mega banks to watch for.

Trulia: Americans just not worried about mortgage rates rising

Low rates in part helped push mortgage applications to a surge last week, and rates have held steadily below 4% for 11 weeks. Now Selma Hepp, chief economist at Trulia, argues that it would take a big increase for homebuyers to care that much. A big, big increase.

Here’s how TRID is changing the mortgage industry

It's the second full week of the TILA-RESPA Integrated Disclosure rule, and it’s impacting real estate and mortgage finance at almost every point along the pipeline.

Monday Morning Cup of Coffee: Is Fed, housing policy at a crossroads?

Today is Columbus Day and it seems like both housing policy and the Fed’s monetary policy are, like Christopher Columbus early on, not sure where they want to go or how to get there. Will they get lucky?

Friday 9 October 2015

Cautious optimism is the theme for holiday season imports in Port Tracker report

As was the case a month ago, the Global Port Tracker report from the National Retail Federation (NRF) and maritime consultancy Hackett Associates is calling for annual import cargo volume gains at United States ports, as retailers gear up for the holiday season.

FGMC names Nicholas Imbimbo director, TPO operations

First Guaranty Mortgage Corporation, which provides correspondent, wholesale and retail mortgage origination channels, announced the addition of Nicholas Imbimbo as director, third-party origination operations.

XPO Logistics says it has received offers for Con-way Truckload

On the heels of announcing it plans to acquire freight transportation and logistics services provider Con-way Inc. for $3 billion, XPO Logistics may be considering selling off Con-way Truckload, the company’s truckload arm.

LERETA Chief Executive Officer Jim Thornton retiring

LERETA, a provider of access to property tax data and flood hazard status information for the mortgage and insurance industries, announced the retirement of Jim Thornton as the company’s chief executive officer, ending a 25-year run with the company.

Thursday 8 October 2015

Fannie Mae, Freddie Mac announce new mortgage buyback rules

Aiming to provide lenders with “more clarity and transparency” and encourage increased access to credit to worth borrowers, Fannie Mae and Freddie Mac announced a set of new policies pertaining to mortgage buybacks. The new rules, which take effect on Jan. 1, 2016, establish a list of potential alternatives to repurchase that either of the GSEs could offer to lenders in the event of underwriting defects.

5 common down-payment misconceptions

Before you let the cost of a down payment get in the way of your homeownership dream, make sure you fully understand the options available to you. One of these five common misconceptions could be holding you back from buying a home.

Fannie Mae, Freddie Mac just joined CFPB in extending TRID grace period

While the House of Representatives is due to vote any day now on formalizing a hold harmless grace period for the enforcement of the CFPB’s new TILA-RESPA Integrated Disclosure rules, Fannie Mae and Freddie Mac are extending an olive branch to the industry, by establishing their own grace period for TRID enforcement – albeit without a designated end date.

This is the JPMorgan strategy to offset falling mortgage revenues

JPMorgan Chase is attempting to grow its mortgage market share to offset recent revenue declines in its mortgage business as fewer Americans refinance, a move viewed as risky by most big banks. But according to JPMorgan, they have their bases covered.

10 amazing markets housing investors really need to consider

Atlanta, Charlotte, Fort Lauderdale, Riverside and San Diego are included among the 2015 "Best Markets Top 10 List" compiled quarterly by HomeVestors and Local Market Monitor, which looks for investment opportunities in a housing market where broad foreclosure opportunities are shrinking.

KBRA: Fed actions inflate financial risks in bank portfolios

A new industry report blames the Federal Open Market Committee for the rising risk in bank loan portfolios. Plainly stated, this economic environment is too good to be believed – or sustained.

White House absolutely wrong to threaten veto of TRID bill

The White House is threatening to veto a wholly bipartisan House measure that would simply create a formal “hold-harmless” grace period for lenders and others in the industry operating under the new and incredibly complex TILA-RESPA Integrated Disclosure rule. Because reasons or something.

CFPB sets its crosshairs on lending arbitration clauses

The Consumer Financial Protection Bureau is going after standard arbitration clauses, an avenue with a nine-decade pedigree designed to allow consumers and businesses a far less expensive option. This could affect most consumer lending, including expanding the existing limits in mortgage lending.

White House threatens to veto TRID grace period bill

The House of Representatives is scheduled to vote on a bill that would extend and formalize the grace period for the TILA-RESPA Integrated Disclosure rule until Feb. 1, 2016, and the White House is threatening to veto the measure if it passes Congress. Congress isn't blinking.

Mortgage applications skyrocket more than 25%

After a summer of subdued or declining activity, mortgage applications increased 25.5% from one week earlier. The gains were in both purchase and refi applications.

Fifth Third to pay $85 million for faulty FHA mortgages

Fifth Third Bancorp will pay $85 million as a part of settlement with the federal government over allegations that the bank failed to self-report mortgages it knew to be defective, causing millions of dollars in losses to the Department of Housing and Urban Development.

Will the Fed raise interest rates if the federal government is shut down?

While a government shutdown isn’t seen as highly likely this fall, it’s not out of the realm of possibility. A few circumstances could align to make it happen right when the Federal Reserve is looking at raising interest rates.

Wednesday 7 October 2015

House to vote on TRID grace period Wednesday

Congressional sources tell HousingWire that the House will consider H.R. 3192, the Homebuyers Assistance Act, sponsored by Rep. French Hill, R-Ark., Wednesday afternoon. The industry says it's badly needed. Will it pass and will it be enough?

California woman preyed on distressed homeowners, defied CFPB

Najia Jalan received a sentence of 70 months in federal prison for her role in a scheme that involved Jalan falsely presenting herself as a member of the Department of the Treasury. And it doesn't end there. Jalan also pretended she was an attorney and defied a restraining order placed on her business by the CFPB.

Daniel Consuegra joins LOGS Network firm Shapiro Fishman & Gache

Daniel Consuegra, the managing partner of the Law Offices of Daniel C. Consuegra, joins the Florida law firm of Shapiro Fishman & Gache, a member of the LOGS Network. The new firm will be renamed Shapiro Fishman Consuegra & Gache.

House passes bipartisan TRID grace period bill 303-121

Defying the threat of a White House veto, the House on Wednesday afternoon passed bipartisan legislation to help homebuyers avoid delays and disruptions when closing on their new homes by a bipartisan vote of 303-121. Here's what happens next.

Tuesday 6 October 2015

Auto recall issues bring reverse logistics into play

While many auto executives expect more industry recalls in 2015 and 2016, just 8 percent use advanced predictive analytics to help prevent, prepare for, and manage recalls, according to a recent online poll from Deloitte.

Western Washington on the edge of a housing market slowdown

Home sales in western Washington state are predicted to slow down the rest of the year and into early 2016 due to these three things. And then there's TRID.

Monday 5 October 2015

Another one bites the dust: MERS wins again

MERSCORP Holdings announced Monday that it secured another victory over a homeowner who challenged its authority to assign a mortgage. MERS had its authority upheld this time by the Court of Appeal of California for the Third Appellate District.

TNT shareholders and management sign off on FedEx deal but challenges remain

The planned $4.8 billion acquisition of Netherlands-based TNT-NV and a provider of mail and courier services and the fourth largest global parcel operator, by FedEx may be showing signs of coming closer to fruition, with TNT’s shareholders formally giving their blessing on the proposed deal.

Black Knight: Cash-out refis up 68% since August 2014

Cash-out refinances jumped 68% year-over-year in August, as borrowers take advantage of still-low rates and newfound equity in their homes. Does that mean we're in pre-bubble territory?

Sunday 4 October 2015

Monday Morning Cup of Coffee: What are we going to do with Fannie and Freddie?

Seven years later and the GSEs are still stuck in conservatorship. Isn’t it about time someone did something? But what? Plus, a look at the impact of Dodd-Frank on the recovery, a humorous take on hipster gentrification and more.

Port of Oakland to introduce cleaner diesel technology for terminals

The United States Environmental Protection Agency (EPA) has awarded the Port of Oakland $277,885 to upgrade cargo-handling equipment and reduce exhaust emissions on the waterfront.

Saturday 3 October 2015

Logistics Best Practices: How Do Yours Compare?

Did you know that there is a correlation between logistics solutions and customer loyalty? 70% of customers are willing to spend more money for good customer service which means you must have on-time delivery, proficient inventory management and a strong logistics strategy.

What does a post-TRID world look like?

D-day is upon us. TRID-day that is. So, what exactly does a post-TRID world look like? HousingWire spoke with Terry Moore, senior managing director at Accenture Credit Services, about how much different real estate and mortgage finance will be going forward.

Thursday 1 October 2015

Global 3PL CEOs optimistic about future growth

As was the case in its predecessor report a year ago, third-party logistics (3PL) CEOs are confident and optimistic about the current and future revenue growth, according to the Annual Surveys of Third-Party Logistics (3PL) CEOs, released earlier this week at the Council of Supply Chain Management Professionals (CSCMP) Annual Conference in San Diego.

HUD hands out $38 million to fight housing discrimination

The U.S. Department of Housing and Urban Development announced this week that it is awarding $38 million total to more than 100 groups to be used for fighting housing discrimination. Click here to see which groups will receive HUD funding.