Rule provides for state oversight of appraisal management companies

Six federal regulatory agencies on Thursday issued a final rule that establishes minimum requirements for states that elect to register and supervise appraisal management companies (AMCs), or entities that provide appraisal management services to lende…

Purchase transactions heating up this spring

Purchase mortgage loan activity is gaining momentum as the housing market enters the peak spring buying season, according to Ellie Mae’s latest Origination Insight Report. According to the mortgage industry software provider, mortgage purchases represented 46 percent of lenders’ overall volume in March, compared with 53 percent in refinancing volume …

Low credit score? You still have a chance at a conventional loan

Despite fluctuating credit standards, people with low credit scores stand a better chance than they have in years of obtaining a conventional mortgage loan, according to Zillow. The online real estate marketplace said its quarterly Mortgage Access Inde…

Are your clients mortgage-literate?

In 2004, Congress declared April as National Financial Literacy Month. For many, this means learning about managing credit-card debt and analyzing credit scores. But as more and more consumers take steps to improve their knowledge and understanding of …

Genuine Title faces federal lawsuit charges of deceitful activity

With a $35.7-million penalty lobbed against Wells Fargo and JP Morgan Chase in January still ringing in the ears of the mortgage industry, the Consumer Financial Protection Bureau (CFPB) yesterday announced more fallout from an alleged illegal marketing and kickback scheme, as it is taking similar action against Genuine Title, a title company that “paid to play” in the banks’ activities …

Genuine Title faces federal lawsuit charges of deceitful activity

With a $35.7 million penalty lobbed against Wells Fargo and JPMorgan Chase in January still ringing in the ears of the mortgage industry, the Consumer Financial Protection Bureau on Wednesday announced more fallout from an alleged illegal marketing and kickback scheme, as it is taking similar action against Genuine Title, a title company that “paid to play” in the banks’ activities …

Lawmakers look to ‘trim the fat’ of title insurance in Big Apple

Already overwhelmed by a decade of regulator scrutiny and a complex new state licensing law, title insurance producers in New York have a slew of new regulations to grapple with. Yesterday, Governor Andrew M. Cuomo announced a proposal that aims to sla…

Zillow laments flat mortgage rates in weekly survey

Although most analysts have shown optimism for a strong spring homebuying season, online mortgage marketplace provider Zillow is reporting that its 30-year fixed mortgage rates have been flat for the past month …

Boomerang buyers: Recovery or bubble repeat?

The housing story of Joann and Oscar Flores over the past 13 years is one of a rollercoaster relationship with homeownership — closely shadowing the ups and downs of the US real estate market during the same period …

California schemin’ leads to prison time for two San Diego men

Two leaders of a nationwide mortgage relief scam that defrauded more than 3,200 homeowners across the nation out of more than $12 million received their prison sentences this week …