10 reasons why mortgage investors are rejecting TRID loans

The other shoe has dropped: With thousands of loans closed under the new regulatory regime now making their way to the secondary market, investors are refusing to buy them due to compliance problems and loan document errors …

Why the millennial generation is the next disruption in real estate

I’m a millennial, I’m a Realtor and I’m a renter. What if the next disruption in real estate is not a new technology? What if the next disruption is instead a generation — a generation that does not value homeownership the way prior generations have …

Will mortgage rates fall in 2016?

Here we go again. Another year lies ahead and with it the widespread view that mortgage rates will surely climb. After all, the Federal Reserve has started to increase the rate banks pay to borrow funds overnight, and the economy appears stronger. So i…

California judge certifies class in Wells Fargo loan modification cases

A federal judge has certified a class of California homeowners in two lawsuits alleging that mortgage lender Wells Fargo Bank failed to meet its obligations to struggling borrowers who sought to modify their home loans …

Nexera Holding hits $100 million funding mark in first six months

Nexera Holding launched in mid-2015 with the mission of increasing efficiency, simplicity and transparency in the lending marketplace via a Web portal that gives customers the ability to view the status of their loan application and communicate with cl…

Baltimore property tax break to bring more safety officials to the city

Baltimore’s mayor wants to make it easier for police officers and firefighters to buy a home within the city’s limits. Mayor Stephanie Rawlings-Blake has proposed a property tax credit for police and firefighters who buy homes in the city, up to $2,500 per year …

‘Mortgage cash-out record?’ Ahem

Black Knight, the excellent data source and consultant to mortgage servicers, reported yesterday, “In Q3 2015, 42 percent of all first lien refinances involved a cash-out component, the highest share since 2008. Likewise, the average cash-out amount — over $60,000 — is the highest since 2007.” Sounds reasonable. But little in mortgageland is reasonable …

Mortgage complaints rank high on list of consumer beefs in December

Mortgages, credit reporting and debt collection grievances collectively represented 68 percent of all complaints submitted to the Consumer Financial Protection Bureau’s complaint database in the last month of …

Chicago housing prices, incomes conducive to homeownership, says Finder

The pool of homebuyers that can afford Chicago housing prices is pretty large. According to Finder, Chicagoans make enough money to afford a home. Finder.com compiled data from a variety of sources. They used Census Bureau numbers, data from Zillow, th…

LA mortgage application fraud, defect falls 7.41 percent annually

The First American Loan Application Defect Index was released January 26 for December 2015. The index estimates the frequency of fraudulence and defects in mortgage applications. Los Angeles mortgage defects and fraudulence dipped 7.14% monthly …