Tag: finance

A change in the way some public records are included in consumer credit files is likely to increase scores without any meaningful change in consumer behavior.

The National Consumer Assistance Plan takes effect on July 1. The plan requires Equifax, Experian and TransUnion to reduce the amount of tax lien data they report.

In addition, 96 percent of civil judgment public record data will no longer be included in the consumer credit file reports from the trio of credit reporting agencies.

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From:: Financing

HomeStreet Inc.’s quarter-over-quarter decline in residential lending was at the high end of the industry. Mortgage servicing, however, grew.

The Seattle-based financial institution earned $13 million before income taxes during the first-three months of this year, better than $10 million a year earlier.

Those metrics, as well as other operational and financial data, were revealed in HomeStreet’s earnings report for the first-quarter 2017.

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From:: Financing

Average monthly complaints filed for home loan products are doing better on a year-over-year basis than overall financial services complaints.

In just March 2017, there were 27,980 complaints filed against U.S. financial service providers. Activity increased 7 percent from the previous month.

Compared to the same three-month period last year, overall financial services complaints have moved higher by 9 percent.

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From:: Financing

A provider of mortgage servicing technology is evaluating a possible move of its headquarters which are currently located in Wisconsin.

Fiserv Inc. maintains its headquarters in Brookfield, Wisconsin. Around 850 of its more than 23,000 employees are located there.

But the company is conducting an evaluation of its corporate headquarters and pondering an in-state and out-of-state move to Georgia.

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From:: Financing

Ocwen Financial Corp. has filed emergency motions to reverse cease-and-desist orders issued by two states over allegedly deficient servicing practices.

Last week, federal lawsuits were filed against the Atlanta-based firm by the Consumer Financial Protection Bureau and the Florida Attorney General.

In addition, North Carolina Commissioner of Banks Ray Grace announced that his state was among 21 states issuing regulatory enforcement orders against Ocwen subsidiaries.

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From:: Financing

During just last month, there were more new homes sold than any month in nearly a decade. Even more impressive, is that the new-home inventory is the highest it’s been in almost eight years. But upcoming activity could be hurt by a Trump administration move.

Data jointly released Tuesday by the Census Bureau and Department of Housing and Urban Development indicate 58,000 new U.S. home sales were completed in March 2017.

Based on historical data from the Census Bureau, that was the most new home sales during any single month since August 2007, when the total was 60,000.

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From:: Financing

Home prices continued to rise, with some indices achieving new highs. Areas in the Northwest and Mountain Region maintained a tight grip on top spots.

In February 2017, the S&P CoreLogic Case-Shiller Composite 20 Home Price Index was 193.49, up 0.4 percent from a month earlier.

Compared to the same month last year, the Case Shiller index, which wasn’t adjusted for seasonal factors, has ascended 5.9 percent.

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From:: Financing

Several mortgage banking firms, large and small, have reported that they have either recruited or promoted a number of executives to roles with “chief” in their title.

Quicken Loans Inc. said Monday it hired Casey Hurbis as its new chief marketing officer. He’ll lead the consumer-facing marketing team, be responsible for online and traditional marketing initiatives and manage the brand.

His 24 years in advertising and marketing most recently included nearly six years at FCA Fiat Chrysler Automobiles. Hurbis and his Chrysler group team were reportedly named Marketer of the Year by Ad Age.

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From:: Financing

A modest weekly increase in the U.S. Mortgage Market Index was led by loans to finance a home purchase. As rates retreated, adjustable-rate activity turned sharply lower.

During the seven days ended April 21, the U.S. Mortgage Market Index from Mortgage Daily and OpenClose was 164. No seasonal adjustments were made.

The index, which is an indication of upcoming originations based on average rate-lock volume by OpenClose users, rose more than 4 percent from the prior report.

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From:: Financing

President Donald J. Trump took to his pen Friday to advance his plan to reduce the impact from the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Two presidential memos signed by Trump order reviews of the designation of large firms as a risk to the financial system and the requirement they create living wills.

The president also signed an executive order directing Treasury Secretary Steven T. Mnuchin to review significant changes to the tax code since the start of 2016.

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From:: Financing