News Flash

OpenClose and QuestSoft have announced they will host a joint Webinar covering the new CFPB HMDA regulations
QuestSoft and OpenClose to Co-Host Webinar on New HMDA Rules
OpenClose and QuestSoft have announced they will host a joint Webinar covering the new CFPB HMDA regulations, how they will impact organizations, and outline specific plans to make compliance with the new HMDA rules the most efficient and... Read more
Four ex-employees of Aurora, Colo.-based American Financial Corp. have filed a lawsuit claiming the company fired them after they sought to expose alleged evidence of mortgage fraud
Lawsuit Charges Colorado Lender Fired Whistleblowing Employees
Four ex-employees of Aurora, Colo.-based American Financial Corp. have filed a lawsuit claiming the company fired them after they sought to expose alleged evidence of mortgage fraud.   According to a Denver Post report, the lawsuit stated... Read more
Construction employment increased by 11,000 jobs in May to the highest level since October 2008, according to a new data analysis from the Associated General Contractors of America
Construction Employment Up in May
Construction employment increased by 11,000 jobs in May to the highest level since October 2008, according to a new data analysis from the Associated General Contractors of America.   Residential construction—comprising residential... Read more
The seemingly nonstop rise in home prices has created a new problem: Mortgage payments are unaffordable in half of America's largest markets, according to new data from Zillow
Mortgage Payments Are Unaffordable in Half of Major Metros
The seemingly nonstop rise in home prices has created a new problem: Mortgage payments are unaffordable in half of America's largest markets, according to new data from Zillow.   Nationally, mortgage payments on the median home for sale... Read more
The U.S. House of Representatives has announced the passage of the Financial CHOICE Act (Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs)
House Passes Dodd-Frank Reform Act
The U.S. House of Representatives voted to approve the Financial CHOICE Act (Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs), legislation that is being promoted to overhaul and replace the Dodd-Frank Act.   “Every... Read more
Would-be homebuyers are most frequently deterred from pursuing the American Dream due to misperceptions about downpayments, according to a survey of mortgage professionals conducted by Genworth Mortgage Insurance.
Fixed Mortgage Rates and Credit Availability Down
The 30-year fixed mortgage rate fell for the fourth consecutive week and hit its lowest level in nearly seven months, according to Freddie Mac’s Primary Mortgage Market Survey (PMMS) for the week ending June 8.   The 30-year fixed-rate... Read more
More than 1.5 million home equity lines of credit (HELOCs) will see interest-only draw periods end this year, with payments becoming fully amortizing, according to new data from Black Knight Financial Services (BKFS)
Homeowner Equity Continues to Rise
Homeowners with mortgages enjoyed a year-over-year equity increase totaling $766.4 billion in the first quarter, according to new data from CoreLogic. On average, homeowners gained approximately $13,400 in equity between from the first... Read more
There was much less bounce in the home flipping market during the first quarter, according to the latest numbers released by ATTOM Data Solutions
Fewer But More Expensive Homes Are Being Flipped
There was much less bounce in the home flipping market during the first quarter, according to the latest numbers released by ATTOM Data Solutions.   In the first three months of this year, 43,615 single family homes and condos were flipped... Read more
Move over, Bitcoin—a new cryptocurrency is coming online that is backed by the properties held in real estate investment trusts (REITs)
New Cryptocurrency Backed by REITs
Move over, Bitcoin—a new cryptocurrency is coming online that is backed by the properties held in real estate investment trusts (REITs).   According to a Business Insider report, the Swiss-based fintech company Brickcoin plans to roll out... Read more
The Consumer Financial Protection Bureau (CFPB) has fined Chicago-based Fay Servicing $1.15 million for allegedly failing to provide mortgage borrowers with proper information and protections against foreclosure
CFPB Settles With Fay Servicing
The Consumer Financial Protection Bureau (CFPB) has reached an agreement with Chicago-based Fay Servicing for $1.15 million for allegedly failing to provide mortgage borrowers with proper information and protections against foreclosure.  ... Read more