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Updated: 25 min 8 sec ago
In what has become a complete and total rebuke of an effort put forth by Federal Housing Finance Agency Director Mel Watt to award $3 million raises to the CEOs of Fannie Mae and Freddie Mac, President Obama signed into a law a bill that caps the salaries of Fannie Mae CEO Timothy Mayopoulos and Freddie Mac CEO Donald Layton. Click headline to read more.
The Federal Reserve Board, the Consumer Financial Protection Bureau, and the Office of the Comptroller of the Currency announced the annual adjustment of the dollar amount used to determine whether a small loan is exempt from the special appraisal requirements that apply to higher-priced mortgage loans.
There are a plethora of reports and studies out there all defining what the Millennial generation looks like. This latest infographic from UpNest puts a lot of that information into one creative graphic.
The latest report from the Commerce Department said that consumer spending is barely increasing since households are taking advantage of rising incomes to boost savings to their highest level in nearly three years.
While sales of new single-family houses in October beat expectations, it still remains volatile month-to-month. As one economist puts it, going forward, housing is likely to continue to be a positive contribution to headline activity although limited.
The Federal Housing Finance Agency announced the maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2016. Despite some predictions that the loan limits would rise for 2016, the FHFA said the conforming loan limits will remain unchanged for much of the country, but not everywhere.
Mortgage rates reported little change for the week, with the average 30-year fixed mortgage rate staying just barely below 4%. Freddie Mac Chief Economist Sean Becketti noted that it’s a quiet week leading up to the Thanksgiving holiday.
After the jump in mortgage applications last week, the Mortgage Bankers Association’s latest survey found that applications changed direction and dropped 3.2%.
Fannie Mae joins the electronic document revolution. The government-sponsored enterprise announced that it is partnering with DocuSign to provide an "easy, fast, and secure way" to execute agreements with Fannie Mae by allowing electronic signatures on several of its documents.
The Mortgage Bankers Association announced that it welcomed 27 new members in the month of October, as it continues to push its membership beyond 2,200 organizations. Here are the MBA's new members.
Citing improvements in the company’s internal controls and other factors, Fitch Ratings upgraded two of Fay Servicing’s residential mortgage servicer ratings.
In a turn of events, appraisal volume reversed course and increased for the week of Nov. 15, marking the first uptick in three weeks.
Perhaps constantly being under the microscope of regulators is having a positive impact on Ocwen Financial and its standing with its customers. According to a new report from the Consumer Financial Protection Bureau, complaints about Ocwen dropped by a significant margin in the last year.
The West Coast has dominated the top ten real estate market list for many months now, causing some people to be concerned that these market are overheated. In Pro Teck Valuation Services latest Home Value Forecast, it decided to put this concern to test.
Boston-based Placester, a real estate marketing platform, that has experienced significant growth in 2015, continued its strong year with the announcement that it raised $27 million in a Series C round of funding. Placester’s latest round of funding more than doubles the previous investments in the company, which totaled $23 million.
Quicken Loans now officially offers a fully online mortgage through its new end-to-end online product Rocket Mortgage. The move comes as the industry increases its push for companies to go digital due to regulatory pressure combined with consumer expectations for convenient and efficient service. Is this the latest sign that digital is the new normal?
Home prices across the country continued to rise in September, maintaining a health pace toward normalization. Zillow Chief Economist commented on the report saying that the index continued to grow at a consistent pace as the summer came to a close, and in line with more recent data that continues to show stabilization in the U.S. housing market.
A Virginia man and woman will each spend two years in prison for leading a scheme that recruited straw buyers into a multi-year, multi-property mortgage fraud scheme that defrauded 10 different lenders of millions of dollars.
Move, Inc., which operates Realtor.com for the National Association of Realtors, announced the appointment of Suhail Ansari as the company’s new chief technology officer. At Move, Ansari will be responsible for overseeing the company’s technology strategy.
Unlike some predictions, the mortgage industry did not implode once TRID went into effect. And according to results from the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey, the impacts so far are minor.