Mortgage
Home Mortgage
MERS Mortgage Assignment Valid
MERSCORP Holdings, Inc. today announced the Rhode Island Superior Court granted summary judgment in MERS’ favor. In pdf Mendoza v. Mortgage Electronic Registration Sys., Inc. (177 KB) , the plaintiffs attacked the validity of a MERS assignment by claiming that MERS was not authorized to execute the assignment of a mortgage.
California Housing Advocates Respond to CFPB’s Final Mortgage Servicing Rules
The Consumer Financial Protection Bureau released its finalmortgage servicing rule today, with stronger protections to prevent unnecessary foreclosures on successors-in-interest, more commonly known as “widow foreclosures.”
Strong first-time homebuyer demand drives $185 million CHFA bond sale
The Connecticut Housing Finance Authority (CHFA) plans to offer $185 million in bonds in August due to increasing demand from qualified homebuyers. On August 3, 2016, $145 Million in Fixed Rate Bonds will be sold, and $40 Million in Variable Rate Bonds...
MBA Welcomes 16 New Members
The Mortgage Bankers Association (MBA) announced that in May and June of 2016 it welcomed 16 new regular members to its ranks, which currently numbers more than 2,200 member companies.
Commercial/Multifamily Originations Remain Strong
According to the Mortgage Bankers Association's (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations, second quarter 2016 commercial and multifamily mortgage loan originations were one percent higher than during the same perio...
Mortgage Applications Decrease in Latest MBA Weekly Survey
Mortgage applications decreased 11.2 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending July 22, 2016.
Stevens Statement on Updates to “Know Before You Owe” Rule
Statement from MBA President & CEO David H. Stevens on the Consumer Protection Financial Bureau's (CFPB) proposed updates to the TILA-RESPA Integrated Disclosure "Know Before You Owe"
Ringleader of Mortgage Loan Modification Scheme Sentenced to More Than 9 Years in Federal...
33, of Santa Ana, Calif., was sentenced today by U.S. District Judge Stefan R. Underhill in Bridgeport to 112 months of imprisonment, followed by three years of supervised release, for heading a mortgage loan modification scheme that defrauded more tha...
Congressman Cleaver’s Co-Authored Bipartisan Housing Bill Passes Senate
H.R. 3700, The Housing Opportunity Through Modernization Act, successfully passed through the Senate. This bill, sponsored by Missouri Congressmen Emanuel Cleaver, II and Blaine Luetkemeyer, passed unanimously in the House on February 2, 2016. The bill...
RINGLEADER OF MORTGAGE LOAN MODIFICATION SCHEME SENTENCED TO MORE THAN 9 YEARS IN FEDERAL...
33, of Santa Ana, Calif., was sentenced today by U.S. District Judge Stefan R. Underhill in Bridgeport to 112 months of imprisonment, followed by three years of supervised release, for heading a mortgage loan modification scheme that defrauded more t...
New Report on Lending in St. Louis, Milwaukee and Minneapolis Shows Clear Racial Disparities
The National Community Reinvestment Coalition (NCRC) released an analysis of home purchase lending in St. Louis, Milwaukee, Minneapolis, and the surrounding areas. The analysis reveals racial and income disparities in mortgage lending in all three cities.
Decline in available inventory sends Orlando median home price soaring 15 percent in June
The median price of Orlando homes sold during the month of June increased 15 percent compared to June of last year, the result in part of yet another double-digit decline in inventory
Luetkemeyer Questions HUD Secretary Regarding Policies That Leave Taxpayers at Risk
U.S. Rep. Blaine Luetkemeyer (MO-03) issued the following release after Housing and Urban Development (HUD) Secretary Julian Castro discussed major changes to the treatment of nonperforming loans during his testimony before the House Financial Services...
Attorney General Kamala D. Harris Announces Arrests and Indictments by California Department of Justice...
Attorney General Kamala D. Harris announced that six individuals were indicted and arrested on 135 felony charges for operating a mortgage fraud scheme throughout Southern California and the Inland Empire, preying on homeowners facing foreclosure. The case is being prosecuted by attorneys in the Attorney General’s Mortgage Fraud Strike Force, created by Harris in 2011 to prosecute mortgage fraud at every step of the process
Ginnie Mae Announces New Executive Vice President and Chief Operating Officer
Ginnie Mae today announced that Nancy Corsiglia will join Ginnie Mae as Executive Vice President and Chief Operating Officer, reporting to President Ted Tozer. Corsiglia will administer Ginnie Mae’s $1.7 trillion Mortgage-Backed Securities (MBS) and Real Estate Mortgage Investment Conduit (REMIC) programs. She will also be responsible for managing Ginnie Mae’s daily operations, including all MBS operations, counterparty relationships, contracting, budget and legislative initiatives, and overall risk management.
New York Appellate Court Rules MERS Mortgage Is Valid
MERSCORP Holdings, Inc. today announced the Appellate Division of the Fourth Judicial Department in New York unanimously overturned the trial court’s order and found that a mortgage for which MERS was the original mortgagee was valid, and granted J.P. Morgan Chase Bank’s (the “Bank”) motion for summary judgment in its’ foreclosure action.
ICE To Acquire Majority Equity Interest in MERS
MERSCORP Holdings, Inc. and Intercontinental Exchange (NYSE: ICE), today announced that ICE will acquire a majority equity position in MERSCORP Holdings, Inc., owner of Mortgage Electronic Registration Systems, Inc. (collectively “MERS”). In addition, ICE and MERS have entered into a software development agreement to modernize and enhance the MERS® System.
Congressman Tim Ryan Works to Help Americans Pay Down Their Mortgages
Congressman Tim Ryan today introduced legislation to help hardworking Americans pay down their mortgages. The Building Equity for the American Middle-Class Act (BEAM Act) would create a 50% refundable tax credit on additional principal payments individ...
Superior Court of Pennsylvania Upholds Trial Court’s Grant of Summary Judgment
MERSCORP Holdings, Inc. today announced that the Superior Court of Pennsylvania affirmed the trial court’s order granting summary judgment in MERS’ favor
CBRE’s Philip D. Voorhees and NRIG-West Team Complete Sale of High Quality Retail Center...
CBRE Executive Vice President Philip D. Voorhees and Jimmy Slusher announced today that the National Retail Investment Group – West (NRIG-West) team completed the sale of The Terrace, a two-level, 39,634-square-foot shopping center with structured parking in the city of Newbury Park, Calif. Leased to a complementary mix of 12 restaurant, retail and athletic-focused uses, tenants at The Terrace include: Orangetheory Fitness, Hot Yoga 1000, Road Runner Sports, Bottle and Pint, and others.
Spotlight On: Agencies Keeping NJ Residents in their Homes
Representatives from Valley National Bank presented housing counselors from non-profit community development organizations their latest homeowner mortgage product. Pictured from left to right: Staci Berger, president and chief executive officer of the ...
SB 1150 Passes Senate Hurdle After Dramatic Turnaround
Senate Bill 1150, a bill to protect widows, widowers and other heirs from unnecessary foreclosures, passed a key hurdle today when it was voted out of the Senate on a vote that was not without drama. Amidst intense industry lobbying pressure and after...
Illinois Begins Using Uniform Mortgage Test
The Conference of State Bank Supervisors (CSBS) announced today that the Illinois Department of Financial and Professional Regulation (IDPFR or the Department) began using the National SAFE Mortgage Loan Originator (MLO) Test with Uniform State Content...
Proclamation declares June as Homeownership Month in Indiana
Governor Mike Pence issued a Proclamation that was delivered by Lt. Governor Eric Holcomb this morning, declaring June as Homeownership Month in Indiana. The Lt. Governor was joined by members of the Indiana Housing and Community Development Authority ...
Texas Department of Savings and Mortgage Lending Receives Mortgage Reaccreditation
The Conference of State Bank Supervisors (CSBS), and the American Association of Residential Mortgage Regulators (AARMR) announced today that the Texas Department of Savings and Mortgage Lending (the Department or SML) has received a certificate of acc...
Assembly Passes Legislation to Combat Zombie Homes in New York State
Speaker Carl Heastie and Judiciary Chair Helene Weinstein today announced the passage of legislation to combat the rising problem of abandoned residential properties by creating new efficiencies in the foreclosure process and imposing requirements for ...
A.G. Schneiderman Announces $100 Million Expansion Of Foreclosure Prevention Efforts For New York Families
Dramatic Increase In Mortgage Assistance Efforts Will Enable Thousands Of New Yorkers To Save Their Homes By Clearing Small Debts That Are Preventing Them From Avoiding Foreclosure. New Analysis Released Today Estimates Expansion Will Save $875 Million...
Five-Year Commitment from Arch Capital Group Provides Support to Opens Doors for Expansion into...
The Mortgage Bankers Association Opens Doors Foundation (MBA Open Doors) today announced that it is expanding into California in the coming months, thanks to a generous ongoing contribution from Arch Capital Group (U.S.) Inc. (Arch Capital), a parent c...
Christie Administration Marks Groundbreaking for Keansburg Mixed-Income in Monmouth County
New Jersey Housing and Mortgage Finance Agency (HMFA) Executive Director Anthony L. Marchetta recently joined elected state and local officials and community leaders to celebrate the groundbreaking of Keansburg Mixed Income, a project that features an ...
Illinois Regulator to Adopt New SAFE Mortgage Loan Originator Test
The Illinois Department of Financial and Professional Regulation (IDFPR) Division of Banking today announced that it will adopt the new SAFE Mortgage Loan Originator (MLO) National Test Component with Uniform State Content on June 1, 2016. IDFPR is on...
