Mortage News

Mortgage defaults on first mortgages were up slightly last month, according to the latest date from S&P/Experian Consumer Credit Default Indices
Mortgage defaults on first mortgages were up slightly last month, according to the latest date from S&P/Experian Consumer Credit Default Indices. The first mortgage default rate in December was 0.71 percent, up one basis point from... Read more
President-Elect Donald Trump has asked William Russell, executive director of Florida’s Sarasota Housing Authority, to serve as special adviser in the transition to a new leadership configuration at the Department of Housing and Urban Development (HUD)
President-Elect Donald Trump has asked William Russell, executive director of Florida’s Sarasota Housing Authority, to serve as special adviser in the transition to a new leadership configuration at the Department of Housing and Urban... Read more
Wells Fargo, the nation’s largest mortgage lender, is planning to close more than 400 bank branches by the end of next year
Wells Fargo, the nation’s largest mortgage lender, is planning to close more than 400 bank branches by the end of next year. According to a CNN report, the new wave of closures will follow the shuttering of 84 branches in 2016. The San... Read more
Credit Plus has announced the availability of its Lost Sales Analysis by Equifax
Credit Plus has announced the availability of its Lost Sales Analysis by Equifax, a new product that helps lenders gain a better understanding of the applicants they’ve lost, who they lost them to, and why. It provides loan-level... Read more
Sen. Harry Reid (D-NV) has looked into the future and does not see Sen. Elizabeth Warren (D-MA) as a viable candidate for the Democratic Party’s presidential nomination in 2020
  Borrowing a page from Rep. John Lewis (D-GA), Sen. Elizabeth Warren (D-MA) is now refraining for stating that President-Elect Donald Trump deserves to be seen as a “legitimate president.”   The Boston Globe reports that Warren was a... Read more
A member of the Seattle City Council is offering a proposal to expand existing legislation on the construction of backyard cottages and so-called “mother-in-law units” as a strategy to alleviate problems in the local housing market
How bad is the housing inventory? Well, it is so bad that Realtor.com decided to abstain from its monthly report on the nation’s hottest housing markets and is offering a list of the 10 cities with the biggest housing shortages.   “More... Read more
Dr. Ben Carson, the retired neurosurgeon nominated by President-Elect Trump to become the next Secretary of the U.S. Department of Housing & Urban Development (HUD)
A former high-ranking Obama Administration housing policy official has come out against the nomination of Dr. Ben Carson to become the next Secretary of Housing and Urban Development (HUD), claiming that the choice of Dr. Carson is... Read more
More than 6.8 million homes on the Atlantic and Gulf coasts face significant risks hurricane storm damage that could, in a worst case scenario, result in more than $1.5 trillion in total reconstruction costs
When it came to wind speed, Nashville snagged the title of the windiest city in 2016, according to new data from CoreLogic.   In its Windy City Index, an annual analysis of wind-related events, Nashville topped the list of major metro... Read more
BB&T Corp. will pay $83 million to settle charges that violated the False Claims Act in its handling of Federal Housing Administration (FHA) mortgages
The U.S. Department of Justice has announced that Moody’s will pay $864 million to settle charges related to problematic credit ratings on residential mortgage-backed securities (RMBS) and collateralized debt obligations (CDO) in the seven... Read more
November 2016 saw a total of approximately 107,000 total loan modifications, short sales, deeds in lieu and workout plans compared to an estimated 21,500 foreclosure sales, according to new data from HOPE NOW.
November 2016 saw a total of approximately 107,000 total loan modifications, short sales, deeds in lieu and workout plans compared to an estimated 21,500 foreclosure sales, according to new data from HOPE NOW. Included in that total... Read more

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