The real estate industry is excited about the potential use of unmanned aerial vehicles (UAVs) or drones in marketing residential and commercial properties. But stakeholders might have to wait a bit more until federal regulations for drone usage are clear and precise. Industry participants across the country are eager to use drones for aerial photography, videography, property inspection and appraisal and for other mortgage-related opportunities UAV technology might bring. Sometime in the not-so-distant future, Realtors will be able to legally fly unmanned drones over listed properties to give prospective buyers a total view of each listed property and its surroundings. For appraisers and catastrophic insurers, drones can reduce the time it takes to provide an appraisal for a residential or ...
Commercial banks and thrifts earned $3.99 billion from their mortgage-banking operations during the first quarter of 2015, according to a new ranking and analysis by Inside Mortgage Trends. Mortgage-banking income was up 12.7 percent from the previous quarter and 19.0 percent ahead of the pace set in the first three months of 2014. Early 2015 was no record-setter, by any means, but profits were well below the levels reached in the middle of last year. The call-report data do not separate...[Includes one data table]
A dramatic disconnect has surfaced between different segments of the mortgage industry when it comes to being prepared to comply with the Consumer Financial Protection Bureau’s pending integrated-disclosure rule. Professionals in the land title insurance side of the business are far more confident about their readiness than are depository institutions, recent surveys reveal. A survey conducted in April by the American Land Title Association found that 92 percent of respondents indicated their company will be prepared to implement the new loan estimate and closing disclosures and to comply with the CFPB’s regulation. That number isn’t as good as it seems, though. A much smaller 62.6 percent said they are on schedule for implementation. Another 29.4 percent conceded they are behind ...
Mortgage originations are already off to a better start in 2015, and industry economists are predicting, on average, a 15 percent increase from last year’s sluggish output. But uncertain prospects in the housing market point toward a decline in mortgage originations next year, according to forecasters at the secondary market conference sponsored this week by the Mortgage Bankers Association. 2015 should bring the strongest housing sales volume since 2007, said Leonard Kiefer, deputy chief economist at Freddie Mac. Sales activity was decent over the winter, despite severe weather in many areas, but the market has yet to get back to normal. Freddie looks...[Includes one data table]
Seven months ago, a fledgling nonprime lender called Deephaven Mortgage unveiled a $300 million investment in the firm by a global “alternative” hedge fund called Varde Partners, Minneapolis. But since then, not much has been heard about Deephaven. Then again, it might be said that the “new” nonprime industry is still trying to figure out how to operate in a world of tight regulation, non-QM lending and a securitization market that doesn’t want to touch its product. Matt Nichols, the former Goldman Sachs managing director who formed Deephaven two years ago, did not respond...
“U.S. Bank was asked why it wasn’t expanding in the mortgage business,” Gabriel said during a panel discussion. “Their answer was: ‘Did you see what happened to Bank of America?’”
According to analyst Paul Miller of FBR Capital Markets, the standards are meant to “impact small, nonpublic, nondepository institutions that have operated on the periphery of the sector.”
RSS