Mortage News

New York State recorded 25,366 closed sales in the first quarter
Q1 New York State Home Sales Up 2.7 Percent
New York State recorded 25,366 closed sales in the first quarter, a 2.7 percent year-over-year rise, according to data from the New York State Association of Realtors (NYSAR). For March, there were 8,889 closed sales, a 2.9 percent... Read more
Total existing-home sales soared by 4.4 percent to a seasonally adjusted annual rate of 5.71 million in March from a downwardly revised 5.47 million in February
Going Up! Existing-Home Sales at 10-Year Peak
Total existing-home sales soared by 4.4 percent to a seasonally adjusted annual rate of 5.71 million in March from a downwardly revised 5.47 million in February, according to new data from the National Association of Realtors (NAR). On a... Read more
Rep. Jeb Hensarling, (R-TX), chairman of the House Financial Services Committee, has scheduled an April 26 hearing for his committee to begin discussions on the 600-page Financial CHOICE Act
April 26 Hearing Set for Dodd-Frank Replacement Bill
Rep. Jeb Hensarling, (R-TX), chairman of the House Financial Services Committee, has scheduled an April 26 hearing for his committee to begin discussions on the 600-page Financial CHOICE Act, which is being presented as a replacement of... Read more
CFPB Files Lawsuit Against Ocwen
The Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against Ocwen Financial Corp. and its subsidiaries, accusing the company of “failing borrowers at every stage of the mortgage servicing process.” The CFPB noted that the... Read more
Is real estate a good investment?
New Survey Finds Cluelessness on Real Estate Investing
Is real estate a good investment? According to a new survey commissioned by RealtyShares, an online marketplace for real estate investing, 40 percent of Americans did not know if stocks, real estate, commodities, bonds, or cash equivalents... Read more
Plaza Home Mortgage has announced that Eric Macwan has accepted the new position of vice president, chief information officer
Eric Macwan Appointed VP, CIO for Plaza Home Mortgage
Plaza Home Mortgage has announced that Eric Macwan has accepted the new position of vice president, chief information officer, responsible for strategic planning, oversight and continuous improvement of Plaza’s technology efforts. In... Read more
The Mortgage Bankers Association (MBA) took on the challenge of updating federal housing policy again with the release of the new white paper
MBA Issues White Paper on GSE Reform Strategies
The Mortgage Bankers Association (MBA) took on the challenge of updating federal housing policy again with the release of the new white paper titled “GSE Reform: Creating a Sustainable, More Vibrant, Secondary Mortgage Market.” This white... Read more
Thirty-Year Mortgage Rate Falls Below Four Percent
The 30-year mortgage rate dropped below four percent and hit its lowest level since November 2016, according to Freddie Mac’s Primary Mortgage Market Survey (PMMS) for the week ending April 20.   The 30-year fixed-rate mortgage (FRM)... Read more
The median rent payment in the U.S. reached $1,408 last month as rents by a relatively scant 0.7 percent from March 2016
Rent Appreciation Slows Dramatically
The median rent payment in the U.S. reached $1,408 last month as rents by a relatively scant 0.7 percent from March 2016, according to new data from Zillow. March’s rent data reflected the slowest rate of appreciation since November 2012... Read more
There were 30,000 permanent loan modifications completed in February
HOPE NOW: 30K Loan Mods in February
There were 30,000 permanent loan modifications completed in February, up from 29,000 in January, according to new data from HOPE NOW. Within the total number of modifications, an estimated 20,000 were through proprietary programs and 9,445... Read more