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Home Prices Increased in 2018

Home Prices Increased in 2018

Friday, 04 January 2019
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The CoreLogic Home Price Index and HPI Forecast for November 2018 shows home prices rose both year over year and month over month. Home prices increased nationally by 5.1 percent year over year from November 2017. On a month-over-month basis, prices increased by 0.4 percent in November 2018. Looking ahead, the CoreLogic HPI Forecast indicates… Read more...
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New Year Brings Higher Rates

New Year Brings Higher Rates

Wednesday, 02 January 2019
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The new year started with lower interest rates across the board, according to the Primary Mortgage Market Survey from Freddie Mac. “Mortgage rates declined to start the new year with the 30-year fixed-rate mortgage dipping to 4.51 percent,” said Sam Khater, Freddie Mac’s chief economist. “Low mortgage rates combined with decelerating home price growth should… Read more...
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Property Appreciation Slows, Housing Peak Could Be Seen Soon

Property Appreciation Slows, Housing Peak Could Be Seen Soon

Thursday, 03 January 2019
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Property appreciation is slowing, a sign that the U.S. is nearing the peak of the current housing cycle. Housing prices are 7.3 percent above their long-term pricing trend, with minimal downward pressure on the demand for homeownership, according to "Where Are We Now with Housing: A Report," a study from Florida Atlantic University College of… Read more...
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United Community Bank Automates Loan Originator, Processor Commissions

United Community Bank Automates Loan Originator, Processor Commissions

Monday, 31 December 2018
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United Community Banks Inc. has deployed CompenSafe to automate loan originator and processor commissions. The community bank has been using CompenSafe to automate commissions for its 80 loan officers and loan processors in an efficient, compliant manner since August. CompenSafe’s built-in integrations with the bank’s payroll provider and Ellie Mae Encompass loan origination system helped… Read more...
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New Fed to Acquire Commonwealth Mortgage

New Fed to Acquire Commonwealth Mortgage

Monday, 31 December 2018
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New Fed Mortgage, a retail lender licensed to do business in all New England states except Vermont, will acquire Commonwealth Mortgage LLC early in 2019. Commonwealth Mortgage is a direct to consumer or internet lender. The acquisition means New Fed will have a direct to consumer channel in states where it doesn’t have a retail… Read more...
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Wells Fargo to Pay $575M to Settle Rate Lock Civil Lawsuits

Wells Fargo to Pay $575M to Settle Rate Lock Civil Lawsuits

Friday, 28 December 2018
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Wells Fargo & Co. has reached an agreement with all 50 state Attorneys General and the District of Columbia regarding mortgage interest rate lock issues, under which it will pay $575 million to settle civil claims. The company has been discussing these issues with federal regulators and is paying back consumers for their losses. Also,… Read more...
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Ex-CFO at Long Island Lender Sent to Prison for Fraud

Ex-CFO at Long Island Lender Sent to Prison for Fraud

Friday, 28 December 2018
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Edward Sypher Jr., former CFO of mortgage lender Vanguard Funding, was sentenced to 18 months’ imprisonment to be followed by three years’ supervised release. Sypher pleaded guilty in February to conspiring to commit wire and bank fraud in connection with the diversion of warehouse loans Long Island-based Vanguard had obtained to fund home mortgages and… Read more...
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'Housing Angel' Fraudster Sentenced to 30-Months in Jail

'Housing Angel' Fraudster Sentenced to 30-Months in Jail

Wednesday, 26 December 2018
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David John Dziedzic was sentenced by U.S. District Judge David Campbell to prison for 30 months because of his lead role in criminal activity related to the short sale of distressed mortgages, some of which were federally-insured. Dziedzic, 55, of Scottsdale, Ariz., had pleaded guilty to one count of communication of unregistered securities, and a… Read more...
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Home Buyers Stuck Between Higher Rates, Increased Prices

Home Buyers Stuck Between Higher Rates, Increased Prices

Thursday, 27 December 2018
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Home-value growth is slowing, price cuts are more common and for-sale inventory is up. Sounds like relief is imminent for home buyers, right? Not so fast. Mortgage rates have been steadily climbing for the past two years and could approach 6 percent by the end of 2019, dulling those factors. Rising interest rates bite into… Read more...
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Ellie Mae, Experian Integration Benefits Verifications

Ellie Mae, Experian Integration Benefits Verifications

Monday, 24 December 2018
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Ellie Mae has upgraded Encompass Consumer Connect that include identity, employment and income verification. The enhancements feature an integration of Experian’s CrossCore platform, which enables lenders to use a multi-layered approach to establish identity and assess risk. [caption id="attachment_8712" align="alignright" width="264"] Tyrrell: Partnership with Experian simplifies and speeds the verification process.[/caption] These enhancements help lenders… Read more...
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