Risk of Mortgage Fraud Declines
Lenders faced less risk of mortgage fraud during the final three months of 2013. But on multi-unit properties, borrowers were over three times more likely to lie about occupancy than on single-unit transactions.
Mobile Mortgage Solutions
As mobile usage continues to surge, several mortgage service providers, as well as a wholesale lender and an appraisal management company, are cranking out new mobile applications. But a bank study cautions users about mobile risks.
Updates at Freddie
Updates at Freddie Mac include a reduction in delivery fees for first-time homebuyers, changes to reserve requirements and adjustments to servicing reimbursements.
GSEs Updating UCDP Messages
The deadline is fast approaching for implementation of an updated message system for appraisals delivered to the government-sponsored housing enterprises.
GSE Appraisals Criticized
Fannie Mae and Freddie Mac are underutilizing data from their appraisal data portal and taking unnecessary risks, according to a new report that calls for more oversight from their regulator.
New Penn Adds Government Programs to Correspondent
Correspondent lending clients of New Penn Financial LLC will now be able to finance borrowers with low credit scores through a new government lending program.
Chase Reinstates Blacklisted Appraiser
A real estate appraiser who claims he was placed on Chase Manhattan Bank's black list because he refused to violate ethics requirements has been reinstated.
AVM Accuracy Improved
Enhancements to one automated valuation system promise to improve the accuracy of estimated values while expanding the number of properties that can be valued.
2014 Mortgage Conference Calendar Filling Up
Among the topics to be covered at several upcoming mortgage events are appraisals, reverse mortgages and high-ticket Asian real estate financing.
Portable Appraisals Would Improve Mortgage System
Enabling real estate appraisals that are acceptable to any lender to be ordered by prospective borrowers would improve the mortgage process and the value of rate lock commitments.