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Diamond Residential Mortgage Settles Alleged Fraud
SPRINGFIELD, Illinois -- Diamond Residential Mortgage Corp. has agreed to pay $1.27 million to the state as part of a "consent order" stemming from alleged fraudulent loan-origination activity by Chris R. Schaller and other employees of Diamond's...
Agency Flow MSR Offerings Could Work Out to $1 Bil
A pair of co-issue flow offerings for servicing rights on agency mortgages could ultimately give the successful bidder servicing on more than $1 billion in loans. The first offering is for mortgage-servicing rights on between $25 million and $60...
loanDepot’s Jumbo Performance Strong, Conv Weak
loanDepot LLC does an excellent job of using technology to generate new business. But while its jumbo performance is strong, its conforming performance is considered weak. loanDepot is differentiates itself from other residential loan originators...
Fannie Mae CEO Leaving
The chief executive officer of the Federal National Mortgage Association is leaving. In addition, the government-controlled enterprise is filling two other C-Suites. Mortgage Daily erroneously reported the status and dates of Mayopoulos' employment...
Weak Supply Again Restrains Existing Home Sales
For the third month in a row, the sale of pre-owned residential properties has moved lower, and the drop was again blamed on a tight supply. The West took the biggest hit. Existing U.S. sales of single-family homes, town homes, condominiums and...
HouseCanary Fires Back at Amrock’s Fraud Accusations
HouseCanary is firing back at accusations made by Amrock Inc. that it used fraud to obtain a massive judgment -- suggesting Amrock might be behind stalking of HouseCanary employees. On Friday Amrock, an affiliate of Quicken Loans Inc., issued a...
Freddie Slashes 3-Yr Mortgage Origination Outlook
Between last year, this year and next year -- economists at the Federal Home Loan Mortgage Corp. have slashed their estimate of industry-wide originations by more than $200 billion. From July 1 through Sept. 30 of this year, residential loan...
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What is Homeowners Insurance and Why Do You Need It?
Homeowners insurance is a type of insurance that provides financial protection against damages to your home, as well as your personal belongings. It is important to have homeowners insurance if you own a home, because it can help protect you from...
Closing on a House: What to Expect and Closing Day Tips
Your train has finally arrived at the station. Congratulations you have made it to the closing table after months of house hunting, jumping through the hoops for a successful loan process and mountains of paperwork. Typically, this paperwork...
Understanding Your Real Estate Contract
Real estate contract, purchase agreement, sale agreement, purchase contract - what do they all mean? These terms are actually referring to the same thing - a legally binding contract between a buyer and seller that outlines the specifics of the...
How To Win a Bidding War on a House
When supply is low and demand is high, it’s important to arm yourself with an awareness and expectation that the house of your dreams may enter into a bidding war. Competing for a house, with multiple offers pushing the price higher, may seem like...
Tips for Negotiating the Price and Responding To a Counteroffer
The path to homeownership involves a deep look into your financials, extensive market research, a homebuying dream team, negotiations with sellers, and so much more. This may all seem overwhelming and intimidating, but it’s the only way to...
What Does a Home Inspector Do?
A home inspection report is very different from a home appraisal inspection. Inexperienced real estate salespeople sometimes do not understand the difference. Although real estate professionals that have worked in the mortgage industry and decide...
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