Tuesday , 29 September 2020

Around The Web

Leader of million-dollar appraisal scam sentenced

The first domino fell in the prosecution of a New York mortgage fraud ring that profited off of scamming first-time homebuyers. The leader of the ring was sentenced up to seven years in prison May 21. Keep reading to see how the scams hinged off of fraudulent appraisals prepared by a veteran New York appraiser. Via:: Leader of million-dollar appraisal …

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MBA’s Stevens wants end to ‘dialogue of distrust’

Mortgage Bankers Association President and CEO David Stevens recently took sharp aim at regulators, saying the Qualified Mortgage rule does not work, that lenders live in an environment of fear, and that the “dialogue of distrust” in the industry must come to an end. Read on for all the details from Stevens’ speech. Via:: MBA’s Stevens wants end to ‘dialogue …

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Housing production back to highest level in years

According to new data, nationwide housing starts in April rose to the highest level in years, causing one industry expert to say, “This month’s report shows … evidence of a sustainable housing recovery.” Keep reading to learn more. Via:: Housing production back to highest level in years       

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AI talks about the value landscaping brings to housing

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, sent out a release May 19 encouraging homeowners to maintain their landscaping to potentially enhance their property’s value. Keep reading for the details. Via:: AI talks about the value landscaping brings to housing       

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Credit Default Swaps are Linked to Mortgage Delinquencies, Study Says

By Brian Honea The researchers discovered that mortgage loans with a CDS were much more likely to default than those without a CDS, because banks often allowed the riskiest subprime loans to be packaged into securities with CDS coverage. The post Credit Default Swaps are Linked to Mortgage Delinquencies, Study Says appeared first on DSNews. Via:: Credit Default Swaps are …

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Numbers Don’t Lie: Complaints to the CFPB May Not Be What They Seem

By Brian Honea In fact, the industry discovered that simply analyzing data from the CFPB is not enough, especially since the database arrives with its own built-in bias—that bias being the very nature of the database itself. It collects complaints, not praises, and ignores the larger universe of loans serviced nationwide. To fill the void of well-rounded data, Black Knight …

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Housing Alliance to Continue Borrower Outreach Events in Midwest

By Brian Honea Aside from the event scheduled for Chicago on May 27, HOPE NOW has announced borrower outreach events for St. Louis (June 13) and Cleveland (July 11) as part of an effort to focus on the Midwest. HOPE NOW said it plans to host events later in the year in Ft. Lauderdale, Hartford, Memphis, and Los Angeles. The …

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