NewsWatch: Is China’s bear market coming for your retirement?
Americans are still plenty confident in a U.S. economy that's been growing for more than nine years and shows little sign of slowing. The consumer confidence index rose to 127.4 in July.
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Minneapolis still battling against vacant properties — even in housing shortage
ByadminMary Lynch, whose property is boarded up, said she can't afford to pay the fee for owning a vacant house in Minneapolis. Nearly 340 residential buildings sit empty and boarded across Minneapolis, despite a severe housing shortage and a steep vacant property fee that has raised $ 20 million for city services over the past…
Here’s how blockchain could help the mortgage industry
ByadminThis distrust is rooted in the secondary mortgage market, in which thousands of residential mortgage loans were originated and then sold and assigned to successor lenders and/or trustees, sometimes multiple times. The documentation for many of these assignments was sloppy or nonexistent – giving rise to numerous robo-signing scandals and judges across the country who…
First Bank Mortgage Signs Multi-Year Renewal for Black Knight’s…
ByadminMSP is a comprehensive, end-to-end loan servicing system that encompasses all aspects of servicing, from loan boarding to default. The MSP servicing system will continue to provide First Bank Mortgage with a proven technology that will help the bank increase operational efficiencies and support its efforts to remain compliant with regulatory requirements. Foreclosure News
Foreclosure Latest Setback for Venerable Charlotte Club
ByadminCharlotte's historic Excelsior Club, a touchstone for generations of African-Americans, faces an uncertain future after foreclosure proceedings began last week. The Beatties Ford Road landmark, which has hosted the likes of Nat King Cole, Louis Armstrong as well as a future president, has been closed since June. Foreclosure News
Pasadena pursues charges against foreclosed mom
ByadminThe city of Pasadena on Wednesday refused to drop its misdemeanor trespassing charges against Rose Gudiel and eight other protesters who demonstrated against foreclosures in the lobby of OneWest Bank. The October protest, in which Gudiel and her 63-year-old mother were arrested by Pasadena Police, was likely the tipping point in Fannie Mae's decision to…
Good move by Trump administration slams brakes on reverse mortgages
ByadminThere are many good reasons for the federal government to intervene in the economy, but diverting resources from less affluent first-time home buyers to seniors who already own homes would not be at the top of our list. Nevertheless, that is what the Federal Housing Administration's Home Equity Conversion Mortgage program – commonly known as…