Tag Archives: Attorneys & Title Companies

Nearly 20 percent of credit reports reviewed by consumers and experts, according to a congressionally mandated study by the Federal Trade Commission (FTC). The study, based on the findings of 1,001 participants reviewing 2,968 credit reports issued from Transunion, Experian, and Equifax, showed that approximately 25 percent of consumers identified errors material enough to affect their credit scores. About 5 percent found errors large enough to trigger higher payments for mortgages or other financial products.

Data released by Freddie Mac shows more than a quarter of borrowers who refinanced in Q4 2012 chose to shorten their loan terms.

Freddie Mac's board has a new member. The company announced the election of Steven W. Kohlhagen, Ph.D. to its board of directors. Kohlhagen brings more than three decades of experience with him, having held senior executive positions at leading financial institutions, including First Union National Bank (predecessor to Wachovia National Bank), American International Group, Stamford Capital Group, Bankers Trust Corporation, and Lehman Brothers.

About 60 percent of loans written today would be unacceptable under the finalized rules for a QM and the anticipated rules for a QRM, according to CoreLogic.

Mortgage Builder Software, a provider of loan origination and loan servicing software systems, is renaming its loan servicing software platform.

loanDepot.com, LLC, an independent mortgage lender based in California, announced four additions to its executive lineup.

Mortgage Master, a super-regional mortgage bank and one of the country's largest privately owned mortgage companies, announced it is expanding its geographic footprint into the Midwest with the opening of a new branch in Chicago. The company also announced the hiring of Brian Jensen as Midwest regional manager and Craig Achtzehn as area manager in the Chicago branch. The company also announced the hiring of Brian Jensen as Midwest regional manager and Craig Achtzehn as area manager in the Chicago branch.

According to the NAR, the depleting share of lower-priced homes is contributing to price growth as distressed sales--foreclosures and short sales--diminish. The association found the national median price for an existing single-family home rose to $178,900 in Q4, up 10 percent from the fourth quarter of 2011. The increase marks the biggest year-over-year gain since the fourth quarter of 2005, when the median price was up 13.6 percent. Existing-home sales improved as well in Q4, rising to a seasonally adjusted annual rate of 4.90 million.

Two U.S. senators reintroduced legislation designed to open up competition and limit barriers to refinance for qualified homeowners.

While some take it as a good sign that housing starts are again on the rise and construction is making a small comeback, some might cautiously wonder if the market is ready to handle an increase in construction and if we aren't headed for a repeat of the overbuilding that contributed to the past housing boom and bust. The Census Bureau reports new home sales have risen 9 percent over the past year, while housing starts have risen by a much higher 37 percent. However, Capital Economics insists the imbalance is actually not unusual.