Foreclosures | Mortgages | Financing
Lenders looking to reduce per-loan origination costs should consider the benefits of bundling origination services with Chronos Solutions. The efficiency of bundling with Chronos not only yields average cost savings of 15-20%, but improves quality throughout the loan process. And unlike some larger companies, these benefits are delivered without sacrificing customer service. …read more
From:: Real Estate Wire
A California landlord agreed to pay its former tenant and the Fair Housing Advocates of Northern California a combined $72,000 over fair housing discrimination allegations. The fair housing group alleged that the woman, who lived at the property for more than 15 years, was discriminated against through retaliation due to the presence of her assistance animal. …read more
From:: Real Estate Wire
Gold futures settled slightly lower Tuesday as the U.S. dollar firmed in late trade, helping to erase a slight advance for the dollar-sensitive metal. December gold closed $2.10 , or 0.2%, lower at $1,262.60 an ounce. The ICE U.S. Dollar Index , a gauge of the buck against a half-dozen currency rivals, pivoted up, rising by 0.2%. late-morning in New York to trade 0.2% higher after an upbeat report on employment. So-called JOLTS data, which measures monthly job openings, came in at 6.163 million in June, exceeding both the expected 5.6 million and last month’s 5.702 million. The report was seen by some commodity investors as keeping intact the Federal Reserve’s plan to raise interest at least once more in 2017, a headwind for gold prices. Overall, gold has only seen modest moves over the past few trading sessions trading in a relatively tight range of between $1,250 and $1,280 an ounce over the past few weeks.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
The monthly rate of late payments on single-family loans turned sharply lower. The rate of early-stage delinquency, meanwhile, is around the lowest it’s been in 17 years.
As of May 31, residential loans that were at least 30 days past due, including mortgages in the foreclosure process, accounted for 4.5 percent of all home loans outstanding.
Delinquency declined 30 basis points versus the prior month. Compared to the same month in the prior year, the past-due rate has tumbled 100 BPS.
From:: Financing
Median home prices shot up in the Northwest MLS area by nearly 20% in some metros. Although inventory shortages continue to persist, the Northwest added slightly more new listings in July than in July 2016. …read more
From:: Real Estate Wire
PHH Corp. announced it settled with the U.S. Department of Justice to resolve issues over alleged False Claims act violations. PHH said it settled with the DOJ on behalf of the Department of Housing and Urban Development and separately with the DOJ on behalf of the U.S. Department of Veterans Affairs and the Federal Housing Finance Agency. The settlement resulted in PHH having to pay a whopping $75 million. Click the headline to read more. …read more
From:: Real Estate Wire
Polaris Industries Inc. said Tuesday it was recalling 2,800 Scrambler XP 1000 all-terrain vehicles, model years 2014 through 2017, for a “crash hazard.” The company said the recall notice comes after it received nine reports of the throttle release switch failing, including two “minor injuries.” The ATVs in question were made in the U.S. by Polaris, and sold at Polaris dealers nationwide from April 2013 through June 2017 for about $13,300. This recall comes just three weeks after the company recalled 25,600 Sportsman 570 ATVs after reports of fuel leaks and fires. Polaris’s stock fell 0.5% in midday trade. It has gained 8.0% year to date, while the S&P 500 has climbed 11%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
Netflix Inc. said Tuesday that David Letterman, the legendary late-night TV host, is making his way back to screens in a six-episode series to stream on Netflix. The series, which remains nameless at this point, will see Letterman engaging in long-form conversations with interesting people coupled with in-the-field segments speaking to Letterman’s interests, according to Netflix. “I feel excited and lucky to be working on this project for Netflix,” Letterman said in a statement, joking that he’d learned people who retire to spend more time with their families should “check with your family first.” Letterman stepped away from the CBS “Late Show” in 2015 after 33 years on late-night TV, during which he hosted more than 6,000 episodes of “Late Night,” on NBC, and “The Late Show.” The news of his return with a show on Netflix comes a day after the streaming giant announced it was buying a comic-book publisher in its first acquisition ever. Netflix’s chief content officer, Ted Sarandos, said in a statement that he’s looking forward to seeing Letterman get out from behind a desk. “Just meeting David Letterman was a thrill; imagine how exciting it is for me to announce that we will be working together.” Netflix shares have gained nearly 46% in 2017, while the S&P 500 index is up about 11%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
Movement Mortgage CEO and former NFL tight end Casey Crawford announced a new initiative outside out his lending company, revealing Movement Bank. On Tuesday, the CEO unveiled a complete rebranding of the former First State Bank in Danville, Virginia. But while Crawford is involved in both companies, they emphasized the two are owned and operated independently of each other. …read more
From:: Real Estate Wire
Legislation introduced in the Senate takes bank mortgage originators one step closer to being able to easily transition from a financial institution to a non-bank home lender.
The bill, S. 1753, SAFE Transitional Licensing Act, was introduced on Aug. 3 by Sen. Dean Heller (R-Nevada) and Sen. Bob Menendez (D-New Jersey).
The proposed law is similar to H.R. 2121, which was introduced in the House back in April 2015 by a bipartisan group of lawmakers.
From:: Financing