- The industry’s last chance to change the Consumer Financial Protection Bureau’s TILA-RESPA Integrated Disclosures rule just closed. On Tuesday, the door shut on the ability for the industry to comment on the bureau’s proposed updated to the new rule. Now the industry can only sit back and wait.
- In 2013, the National Credit Union Administration filed suit against some of the world’s biggest banks over the sale of nearly $2.4 billion in faulty residential mortgage-backed securities to several corporate credit unions, which subsequently failed during the financial crisis, due in part to losses from those very same mortgage bonds. The total amount recovered for the failed credit unions in those settlements is more than $4 billion, but for the first time, the NCUA revealed just how mu
- HousingWire hired Jennifer Watson Laws as its new national sales director. Watson Laws brings years of experience as an executive, her career spanning digital, print and out-of-home platforms. HousingWire CEO talks about the new hire, and why she’s a perfect fit.
- Fannie Mae adjusted its economic growth predictions for the second half of 2016, revising it down from its previous predictions. However, economic growth is still projected to be significantly greater than the first half of the year.
- In the fallout from the financial crisis, many argued that the credit ratings agencies’ competition for business led to ratings shopping among bond issuers and relaxed ratings standards for the ratings agencies themselves. Last year, Standard & Poor's reached a $1.375 billion settlement over just such claims. And now the Department of Justice is taking aim at Moody's Investors Service. Click the headline to read more.
- There is less money to be made in single-family rentals than at any point since 2007. Despite the decrease, however, investors are not discouraged. In fact, the share of investor purchases increased since last year.
- SunTrust’s increase in revenue was driven, in part, by an increase in mortgage banking. This may not be surprising, but the bank’s delinquency portfolio, on the other hand, seems to run against the current trend.
- As the United States undergoes a seismic demographic shift to a younger, more ethnically diverse population, mortgage lenders and servicers who want to grow the scope and quality of their business need to reflect that diversity in their workforce.
- Earlier this year, Bank of America, in partnership with Freddie Mac and Self-Help Ventures Fund, began offering mortgages that only required consumers to put down 3% and did not require the consumers to obtain mortgage insurance either. Bank of America said Thursday that the "Affordable Loan Solution" program is proving so successful in its first few months that the bank is doubling its annual commitment to the program – from $500 million to $1 billion.
- MetaSource just promoted Mary Kladde to senior vice president of mortgage services. The former CEO talks about what this promotion, and her new responsibilities, means for her.
- Despite affordability and inventory problems, housing still remains a bright spot for the economy. It’s not a statement you expect to hear, but it’s exactly what Freddie Mac stated today in its monthly Outlook for October.
- The mortgage market is projected to perform much better in the third quarter than originally expected. With the third-quarter results in for one of the first lenders, it looks like this could be true. Fifth Third Bancorp not only posted an increase in residential mortgage loan portfolio balances, but it also posted an increase in originations.
- Under current agreements, the net worth of the two GSEs is expected to reach zero in 2018. With the clock ticking on housing finance reform, the Congressional Budget Office crunched some numbers. Here is what they found.
- Under current agreements, the net worth of the two GSEs is expected to reach zero in 2018. With the clock ticking on potential solutions, the Congressional Budget Office crunched some numbers. Here is what they found.
- Freddie Mac continues to believe that mortgage lending is on track for a big year this year, but now expects the market to tap the brakes in 2017. But it won’t be purchase mortgage originations that will drag down 2017’s origination total, as purchase and home improvement mortgage activity is actually expected to rise next year. According to the Freddie Mac report, next year’s drop will be driven by a significant decline in refinances.
- Trulia’s new study shows that despite rising home prices, it is still cheaper to buy a home than to rent. While there’s talk about a rate hike this year, Trulia explains why potential homebuyers shouldn’t be concerned.
- First-time homebuyers increased in September to highs not seen since 2012. Existing home sales are up as buyers continue to purchase homes despite rising prices and dwindling inventory.
- Mortgage rates finally moved above 3.5% for the first time in four months. According to Freddie Mac, mortgage rates finally recovered from the plummet they took after Brexit.
Global Trends for Luxury Real Estate Revealed in New Report from Luxury Portfolio International and YouGov - PR Newswire (press release)Global Trends for Luxury Real Estate Revealed in New Report from Luxury Portfolio International and YouGov
PR Newswire (press release)
CHICAGO, Oct. 20, 2016 /PRNewswire/ -- Luxury Portfolio International®, the luxury face of Leading Real Estate Companies of the World® released a new report that shows continued confidence in the real estate market among the world's most affluent ...and more »
- Statesville Record & Landmark
Iredell real estate transactions: Oct. 9-15
Statesville Record & Landmark
The following deeds were filed in the Iredell County Register of Deeds office from Oct. 9-15. For more information regarding specific plots of land, visit www.co.iredell.nc.us/Departments/RegDeeds. TOP FIVE. » From WGS Holdings, II, LLC to E. and B ...
MDM helps real estate developer mobilize business processes
Edward Rose & Sons turned to cloud software to manage more than 500 iPads and iPhones its leasing agents, maintenance staff and construction workers use to access information. Email a friend. To. Use commas to separate multiple email addresses. From ...
- BRIEF-AVIC Real Estate's share trade to resume after revising asset sales ...
KAMPALA, Oct 20 The Bank of Uganda has taken management control of Crane Bank because it lacked sufficient capital and posed a systemic risk to the financial system, the central bank said on Thursday.and more »
- Rochester Democrat and Chronicle
Real estate: Sometimes you need a tax pro
Rochester Democrat and Chronicle
Dear Edith: My mother passed away in 2014. I inherited her home. I paid a lawyer to go through probate and get the home in my name. A few weeks ago, I sold the home. When I do my 2016 income taxes, am I liable for taxes on the sale of the home? — D. L..
- Street Fight
Study Highlights Location Data Uses in Real Estate, Retail Analysis, Smart Cities
Location intelligence firm Cuebiq released a study this morning showcasing the kind of deep location data that its platform can reveal. For a month, Cuebiq tracked geo-behavioral patterns of anonymous consumers in the Westfield World Trade Center (WTC) ...
- Top five music videos starring commercial real estate
Remember when MTV still played music videos? I do. And I remember, too, that there were plenty of those videos in which office towers, skyscrapers, grocery stores and other commercial real estate played a big role. Sure, characters or monsters were ...
- The 8 time management secrets of top real estate agents
The 8 Time Management Secrets Of Top Real Estate Agents ...
Rudy L. Kusuma handpicked to mentor agents nationwide in unique real estate systemDigital Journalall 2 news articles »
If You Still Like To Invest In Real Estate, Then Best Of Luck
The expectation is that at the end of the holding period of five years (in this specific case) one will always be able to find a greater fool who is willing to buy real estate at an even higher price. In more general cases, the expectation is to find a ...and more »
- Few could have predicted the full impact of the mortgage industry changes the last eight years, and many leading lenders and servicers have struggled with compliance and profitability. Even with initial assumptions of economy normalization and regulatory modifications banks are still considering new strategies to improve operational efficiency and reduce risk.
- Ventura County Star
Real-estate broker charged with forgery
Ventura County Star
A Thousand Oaks real-estate broker has been charged with forging the signatures of two clients on a document extending a residential listing agreement, Ventura County prosecutors said Wednesday. District Attorney Gregory Totten said he filed a criminal ...
- A group of senators is already asking the Department of Justice to use a new policy to target individuals at Wells Fargo for corporate misconduct (and maybe even more) in the wake of the fake account scandal surrounding the bank. But the state of California is making a move that could lead to a whole new world of hurt for Wells Fargo, its current and former executives, and the 5,000 former employees who opened the fake accounts.
- Fresno's GoldLeaf Real Estate joins Better Homes and Gardens franchise
Fresno Bee (blog)
GoldLeaf Real Estate Properties in Fresno has joined the Better Homes and Gardens Real Estate franchise. The partnership allows the five-year-old Fresno company, now called Better Homes and Gardens Real Estate GoldLeaf, an opportunity to grow and to ...
- Apple has struck a deal to dramatically change the QWERTY keyboard you’re used to. The new keyboards will aim to help make it easier to...
- Have a perfect home for a first-time buyer? This builder in Texas shows how their prospecting to renters is paying off.
- Single-family starts zoomed to the highest level since February, buoyed by low mortgage rates and strong job growth.
- For your retiree clients who rely on Social Security income, they may want to target these places to live more affordably in their Golden Years....
- Existing-home sales rebounded in September. Here are five of the latest housing stats you need to know from the National Association of REALTORS...
- Vancouver’s new foreign buyer tax is deterring some overseas purchasers, and it’s prompting them to look elsewhere: Seattle.
- First American Mortgage Trust, which does business as NXTLoan.com, and the company’s CEO will pay just over $1 million to settle charges brought by the Department of Justice, which accused the mortgage lender of submitting false claims on mortgages insured by the Federal Housing Administration.
- To some degree, the Millennial homebuyer market, especially the first-time homebuyer, must seem like the Holy Grail or a unicorn herd to mortgage lenders. It’s a large segment with an estimated purchasing power of about $200 billion. So what does this mean for those seeking to sell mortgage loans to Millennials?
- Branch Banking and Trust announced its third-quarter earnings, which came in 22% above last year, driven mainly by a strong increase in mortgage banking income. Here’s why.
- Single-family housing starts came in above estimates in September, signaling sustained strength in the owner-occupied housing sector.
The U.S. Census Bureau and the Department of Housing and Urban Development (HUD) reports single-family starts in September at a rate of 738,000, or 8.1 percent more than the estimate of 724,000. Units in buildings with five units or more were at a rate of 250,000 over the same period.
Privately-owned starts, however, stumbled, down 9 percent at 1,047,000 from an e
Donâ€™t Fear Disruption, Control It: Travelocity Founder Shares Business Acumen at RISMedia Power Broker EventDisruption and innovation are two sides of the same coin, says Terry Jones. “It’s a question of, ‘Did you do it?’ or ‘Did someone do it to you?’” The Travelocity and Kayak founder will delve into this topic and other vital strategies for business success when he headlines RISMedia’s 21st Annual Power Broker Reception & Dinner on Nov. 4 in Orlando, Fla.
Currently chairman of the start-up WayBlazer.com and managing principal of ON Inc., a consult
- The public commentary period for the proposed Know Before You Owe (KBYO) rule, which addresses many of the concerns raised by the real estate industry since its implementation, has officially closed.
In submitted comments before the deadline, the National Association of REALTORS®’s (NAR) President Tom Salomone outlined recommendations for KYBO, also known as the TILA-RESPA Integrated Disclosure, or TRID, on behalf of the industry, including encouraging mortgage and title professionals
- Business Insider
Real Estate Startup Reali Wants To Use Technology To Double-End ...
Reali's business model revolves around an app that offers listing search, the ability to make and view offers, submit paperwork and chat with experts.
Reali replaces real-estate agents with an app - Business InsiderBusiness Insiderall 3 news articles »
- Recent news reports show that rent across the country may finally be leveling off. New data reported by Bloomberg shows that rent in Manhattan fell 1.2 percent in September, the second year-over-year dip since February 2014.
A reason for the dip in price is an over-saturated market, with a construction surge adding many more units to the fold. Bloomberg also noted that apartment owners are the worst performers among real estate investment trusts in 2016. Newly signed lea
- Mortgage delinquency rates have been shown to increase among much older homeowners, despite their tendency to hold higher credit scores than younger homeowners, according to recent research by FICO.
Mortgage and other closed-end loan delinquency rates, FICO’s researchers found, bottom out among homeowners in their 60s and 70s, then rise again through their 80s and 90s.
“For most loan types, delinquencies peak when consumers are in their 20s and starting to take loans,” says Sco
- Nearly four months after the Consumer Financial Protection Bureau finished the final mortgage servicing rule, it has finally been published in the Federal Register. The long publishing timeline isn't necessarily a bad thing since it gave the industry extra time to adapt to and learn the final rule. Since it's officially published, your one-year countdown starts now.
S&P Sector Split Illustrates How Real Estate and Financials Are So Different - Wall Street Journal (blog)Wall Street Journal (blog)
S&P Sector Split Illustrates How Real Estate and Financials Are So Different
Wall Street Journal (blog)
A month after the S&P 500 spawned a real estate sector, the new grouping is charting its own course. For the first half of 2016, when real estate companies were still lumped into the financials sector, they were some of the year's best performing ...
- There is a lot of value in looking at the manufacturing risk upfront, particularly because it can significantly decrease the likelihood of future loss. Most investors price credit risk, so the certification process allows the investor community to get back to managing credit risk rather than focusing on manufacturing risk.
- Huffington Post
Real Estate Crowdfunding's Pathway of Change
“Crowdfunding is just the Internet,” stated Attorney Mark Roderick as he opened last month's RealCap Chicago. RealCap is an annual conference that joins crowdfunding leaders and innovators to propel the industry on a pathway of continued progression.
Follow @RealEstate_Nws_ on Twitter!