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Tag Archives: mortgage

Attorney pleads guilty to defrauding two banks, court

BILOXI — A Coast attorney has pleaded guilty covering up evidence connected to a scheme to defraud two banks and the U.S. Bankruptcy Court. The government says in a news release that it is seeking restitution on behalf of the victims in the amount of $7.7 million. Stephen Richard Colson entered the plea in U.S. District Court in Gulfport. His ...

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FNC index: U.S. home prices show fastest growth since 2012

OXFORD — The latest FNC Residential Price Index (RPI) shows U.S. home prices continue to rise. As of December, the RPI indicates the fastest year-over-year growth since the recovery began in early 2012. The index, constructed to gauge price movement among normal home sales exclusive of distressed properties, was up 0.3 percent in December — outperforming the overall price movement ...

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American Bankers Association sees ample merit in new mortgage rules

While individual U.S. banking members may have their hands full in coming months complying with the new federal qualified mortgage rules, the organization that represents them — the American Bankers Association — says it is pleased with the shape new lending rules took. The ABA says it and a broad coalition of groups involved in housing strongly advocated that the ...

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Shift in home loan market causes jitters in South

Last fall’s conjecture from the financial services sector that new rules coming out of Washington could jeopardize certain types of home mortgage lending is proving correct. The writing went up on the wall with last November’s Consumer Finance Protection Bureau release of new criteria for making so-called “qualified loans” that would receive legal protections against borrower default suits under federal ...

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State reaches $7M settlement with Ocwen

JACKSON — Ocwen Financial Corporation of Atlanta and its subsidiary, Ocwen Loan Servicing, have agreed to a $2.1-billion joint state-federal settlement with Attorney General Jim Hood, 48 additional state attorneys general and the District of Columbia as well as the Consumer Financial Protection Bureau (CFPB). The settlement terms address servicing misconduct by Ocwen, and two companies later acquired by Ocwen, ...

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FNC staff preparing for first 'The Forge' hackathon

OXFORD — FNC Inc. employees will literally work around the clock one day next month. Software developers at the Oxford-based mortgage technology company will participate in FNC’s first-ever 23-hour innovation challenge, a hackathon dubbed “The Forge.” Beginning at 3 p.m. on Dec. 19, teams of one to three employees will face off in a battle of the brains as they ...

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FNC report: U.S. home prices still on the rise

OXFORD — The latest FNC Inc. Residential Price Index (RPI) shows continued growth of home prices in August as the U.S. housing recovery remains well underway. The index moved 0.6 percent higher from the previous the month, making August the 18th consecutive month of rising home prices. According to the FNC RPI, August home prices have climbed to the levels ...

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FNC launches new product called 'Clean Room'

OXFORD – FNC Inc. has unveiled a new product line, a web-based technology platform through which banks and investors can buy and sell mortgages. Dubbed the FNC Clean Room, the technology makes loan trading more efficient and transparent by turning the loan file into structured data that can be easily analyzed. Additionally, the FNC Clean Room streamlines connections between buyers ...

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FNC index: U.S. housing prices were up again in May

OXFORD — The latest FNC Residential Price Index (RPI) shows that U.S. home prices continue to steadily improve, climbing another 0.5 percent in May in conjunction with continued improvement in housing market fundamentals. Notably, the FNC RPI shows that the pace at which home prices are rising is rather modest, averaging 0.4 percent per month in the last six months. ...

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FNC index: Home prices rose again in April

OXFORD — The latest FNC Residential Price Index (RPI) shows that U.S. home prices continued to rise in April, up 0.7 percent from the previous month. April’s gain marks the largest price acceleration since June 2012, caused in part by rising seasonal demand entering spring and summer. Improved credit availability, low interest rates, and low home prices continue to drive ...

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