A new report being generated by Fannie Mae – the organization that provides financial products and services to increase the availability and affordability of housing for low-, moderate- and middle-income Americans – may now help lenders understand how you’ll manage your mortgage payments.
To learn more about the trended data and what is it being used for, check out this article from Realtor.com.
Go beyond paint!
Bored with paint? Good news: There’s a whole world of wall finishes to explore. In 1996, Adrienne Wannamaker was working as an art director when she offered to help a friend finish a mural commission for a client’s master bathroom. The experience made her “fall in love with decorative finishes,” she says.
Equity is growing across the country for more and more homeowners. The number of underwater mortgages is also improving. But in nine U.S. cities, more than one in five home owners are considered seriously underwater. The national average is only about one in 10 as comparison.
Here are the nine housing markets most beleaguered by underwater mortgages:
Cleveland
Las Vegas
Akron
Dayton
Toledo
Chicago
Lakeland, Fla.
Detroit
Kansas City
Source: RealtyTrac and MarketWatch, August 11, 2016
The Case-Shiller index came out today, but the industry isn’t happy about the results. Industry experts say homebuyers will continue to struggle amidst rising home prices. One area, however, is finally starting to see some relief.
CALIFORNIA
SAN DIEGO
ClosingCorp has named Tom Rice vice president, national account representative.
Prior to joining ClosingCorp, Rice was business development manager, Southwest region, of Optimal Blue Secondary Services.
He was also sales director at Veros Real Estate Solutions, Southwest regional account manager at Black Knight Financial services and Southwest regional account manager at CalyxSoftware.
SAN FRANCISCO
Alyssa needed a console table, but the one she had her eye on to buy was too big and too expensive So when she came across this simple, dark IKEA laptop table, she realized for a little bit of money and only a few steps she could transform it into a cute, compact console perfect for her home.
If we could only put out this special section once each year, it would probably live in the issue where we focus on leadership and what it means to be a leader in an industry that seems to be dealing with change on a daily basis. Fortunately, we bring you NMP Next in every issue (making it a great value for those that support this sponsored section) and we’re always focused on the firms that are taking a leadership role in the mortgage business.
Read the source article at National Mortgage Professional Magazine
Nationstar Mortgage, also soon to be known as Mr. Cooper, is handing the keys of the company to Jay Bray. Bray, the nonbank’s president, chief executive officer, and director, is now also the company’s chairman of the board, the company disclosed in a late Friday filing with the Securities and Exchange Commission.
Securitizations completed on behalf of the Government National Mortgage Association were the highest they've been in almost one year.
Including residential and commercial real estate activity, issuance of Ginnie Mae mortgage-backed securities totaled $45.185 billion during June.
The findings were based on a
Mortgage Daily
analysis of monthly operational data released Tuesday by the government-owned organization.
Michael Daly is still enamored of the mortgage business.
Daly, chief executive of Berkshire Hills Bancorp in Pittsfield, Mass., was excited about his company’s chance to enter Philadelphia by buying First Choice Bank in Lawrenceville, N.J., in a low-premium transaction. The fact that First Choice has a national mortgage platform simply increased his enthusiasm for the deal.
