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Home | News (page 3)

Fraud Risk Increases Nationwide

Mortgage fraud risk is up across the country, according to the CoreLogic National Mortgage Application Fraud Risk Index (FRI) for Q1 2017. The FRI is a measure of loan-application level fraud risk in the mortgage industry, based on residential mortgage loan applications processed by CoreLogic Loan Safe Fraud Manager. The index jumped 8 percent in Q1, up to 132 from 113 a year ago and 122 last quarter.

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The Mortgage Market in the Potential Government Shutdown

With the federal funding running out on Friday and a potential government shutdown looming, expect to see an impact on the mortgage industry. Access to tax documents and other government paperwork may prove difficult in the event of a shutdown. CNBC noted that “non-essential” employees, such as those that process paperwork through the Internal Revenue Service, would be furloughed during a shutdown, causing roadblocks for those applying for mortgages.

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Housing Prices Hit Post-Crisis High

According to a new home price index, national housing prices have appreciated to a new post-crisis high as of February. With an index of $268,000 for the month, the U.S. saw its highest home price growth since June 2006. Prices rose 0.8 percent for the month and 5.7 percent over the year.

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HouseCanary Offers RE/MAX Agents Pricing Insights

HouseCanary has partnered with RE/MAX to provide its agents with powerful pricing insights. As a part of the partnership, RE/MAX agents can now access HouseCanary Value Reports through the organization’s Approved Suppliers portal. The reports offers accurate home valuations and three-year pricing forecasts.

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The Week Ahead: FSC to Hold Financial CHOICE Hearing

In the wake of President Trump’s executive order targeting Dodd-Frank and Consumer Protection, the Financial Services Committee (FSC) will hold a hearing to discuss the Financial CHOICE act. Committee Chairman Jeb Hensarling first unveiled the rules and principles guiding Financial CHOICE last June, and the act was approved by the FSC in September. At the center of the act is a plan eliminate bailouts and hold Wall Street accountable. Additionally, the act calls for banks to be better capitalized, and to reduce the strain of regulation on smaller banks.

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Home Values Rise 6 Percent, Inventory Dips

New data shows inventory is down 5 percent over the year, with the biggest decreases in Minneapolis, Columbus, and Seattle. Home values are up 6.8 percent year-over-year, hitting $196,500 for the month of March. Values appreciated most in Tampa, Dallas, and Seattle.

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SunTrust’s Income Boosted by Mortgage Servicing

SunTrust Banks, Inc. reported its Q1 2017 results. The bank posted a net income of $451 million, or $0.91 per average common diluted share. This is a three percent increase over the previous quarter and a four percent year-over-year increase. The bank noted that higher mortgage-related income and investment-related income pushed the noninterest income up by $32 million.

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Critics Fear Crisis After Latest Exec Orders

Critics have begun to speak out after President Trump signed two executive orders calling for the review into “too big to fail” and a number of financial oversight entities. Some even fear it could signal another financial crisis is on the horizon. Trump’s orders specifically require a review of the Financial Stability Oversight Council and the Orderly Liquidation Authority.

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