To date, Spencer Stuart, the search firm working to find a successor to Mortgage Bankers Association President and CEO Dave Stevens, has contacted roughly 40 different men and women, according to industry officials who claim to have knowledge of the process. For the most part, MBA wanted to cast a net as wide as possible, approaching current and former members of Congress, trade group officials, lobbyists and senior and veteran industry executives. Included in the initial search ...
Inflated house appraisals known as markups lead to higher mortgage delinquencies and slower prepayments, according to a new paper by the Federal Housing Finance Agency’s Office of Policy Analysis and Research. The researchers defined markups as instances where appraisals for purchase mortgages and refinances set home values higher than those generated by automated valuation models. The working paper was based in part on home-price data on more than 100 million ...
The owner of Mortgage Electronic Registration Systems recently launched a product aimed to ease lenders’ adoption of electronic promissory notes, allowing for streamlined digital-mortgage originations. MERSCORP Holdings partnered with eOriginal, a digital-mortgage vendor, to offer eNote Solutions. The product allows for the creation, execution, registration and management of electronic promissory notes, known as eNotes. “This solution will enable thousands of originators to realize the ...
Bitcoin, the internet’s virtual currency, is slowly becoming an acceptable alternative method of payment for items, including real estate. Whether it will supplant the more traditional process of purchasing a home remains to be seen. Thomas Bayles, chief executive officer of Urban Asset Group, a house-flip firm in Los Angeles, last year facilitated a record-setting purchase of a mid-century house in Eagle Rock, CA, using bitcoins. The remodeled, five-bedroom residential property in ...
A ranking of primary mortgage insurance for purchase mortgages by state in the first quarter of 2018. Includes private mortgage insurance, FHA, VA and USDA Rural Housing.
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