Statistics Update Dec. 14
Freddie Mac's purchases and issuances, delinquency, and total mortgage debt outstanding has been updated through October.
Statistics Update Dec. 14
1-year treasury yield, 6-month LIBOR, and SOFR have been updated for the week.
Statistics Update Dec. 13
The Housing Market Index measuring builder confidence in the market for newly-built single-family homes has been updated for November.
Statistics Update Dec. 13
Average production profit per loan, as well as closings per sales employee have been updated for Q3 2018.
Statistics Update Dec. 13
HECM endorsements have been updated through November for the calendar and fiscal years.
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By CHRISTINA PARLAPIANO and ADAM WEISS Day Pitney LLP | Dec. 17
The New York Appellate Division, Second Department, recently decided an issue of first impression concerning the evidence necessary to prove the de-acceleration of mortgage debt in a residential foreclosure action.1 The borrower commenced an action to cancel and discharge the mortgage and note pursuant to RPAPL 1501(4) on the basis that the statute of limitations for commencement of a foreclosure action had expired after a prior foreclosure action was dismissed. The bank moved to dismiss, arguing that a de-acceleration letter sent, prior to the expiration of the six-year statute of limitations period, revoked the prior acceleration of the debt. The Second Department reversed the trial court’s order granting the bank’s motion to dismiss.
By ART CASTNER National General Lender Services | Dec. 14
Creating an optimal customer experience has become increasingly critical for mortgage servicers as each customer’s business becomes harder to earn and retain. Most servicers outsource the complex process of homeowner insurance tracking and must ensure their insurance tracking and lender-placed insurance provider ("provider") represents them well. Servicers can evaluate how effective a provider will be invdelivering a positive customer experience by confirming that the provider’s offerings contain certain key attributes.
Press Release Dec. 11
Cherry Hill, New Jersey -- (Dec. 11, 2018) Kevin Crichton, President and Chief Operating Officer of E Mortgage Management, LLC (EMM) recently presented as guest speaker during a "Coffee with an Entrepreneur" event held at Rowan University to over 35 students.
Press Release Dec. 11
DALLAS -- (Dec. 11, 2018) A sudden drop in interest rates last week had existing mortgage borrowers rushing to lock in rates for a refinance -- driving up the U.S. Mortgage Market Index from Mortgage Daily in the process.
Press Release Dec. 6
A modest rebound from the holiday week lifted the weekly U.S. Mortgage Market Index from Mortgage Daily. A seven-month high was recorded for FHA share.
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