Fair Lending Hot Topics Webinar Oct. 17, 2012

The Federal Reserve System invites you to join a webinar on Fair Lending Hot Topics. This Outlook Live webinar will take place on Wednesday, October 17, 2012, 11:00 a.m. – 12:30 p.m. Pacific Time (2:00 p.m. – 3:30 p.m. Eastern). This webinar is part of an ongoing series of events focused specifically on consumer compliance issues. To register for the FREE webinar, please visit the Outlook Live website at http://www.philadelphiafed.org/bank-resources/publications/consumer-compliance-outlook/outlook-live/ This discussion of fair lending issues and hot topics is sponsored by the Non-Discrimination Working Group of the Financial Fraud Enforcement Task Force. Speakers at this event will represent a variety of agencies in addition to the Board of Governors of the Federal Reserve System, including the Department of Justice, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Department of Housing and Urban Development, and the National Credit Union Administration. We will follow the presentation with a Questions and Answers segment, where we will respond to audience questions. This webinar is part of an ongoing series of events focused specifically on consumer compliance issues. The “Outlook Live” Audio Conference is a Federal Reserve System initiative produced in conjunction with the quarterly newsletter Consumer Compliance Outlook.

Online Title Rate Calculator

This is a very useful tool available on our website.  No registration or password is required, so go to our website and click on the “Calculator” tab.

http://www.traditionta.com/calculator/index.html

There is also a wealth of  other information relating to our work plus a variety of forms, so check it out!

Home Prices Up

Redfin,  RE/MAX and the National Association of Realtors all reported a year-over-year increase in home values.  Despite a small decrease in July of this year, an overall increase of 3% to over 7% is reported, depending on which source you follow.  This has pulled a significant number of homeowners up from underwater, greatly affecting their ability to refinance.

The Effect of Negative Equity on Current Loans

Nationwide, eighteen percent of mortgages are underwater.   Statistics also show that a home with negative equity is more likely to go into default.  For loans that had an LTV greater than 150 percent, 4.4 percent went from being current to delinquent, while for loans with an LTV of 110-120 percent, 2.2 percent became new problem loans.

The delinquency rate for July was 7.03 percent, a yearly drop of 11 percent and a 30 percent decline from the January 2010 peak.  This is a positive trend in an overall negative climate.

VOTE for Tradition Title Agency

It’s time again for the Reverse Mortgage Daily “Best of” Awards!!
Click on the link below to vote for BEST REVERSE TITLE COMPANY

http://www.reversemortgageawards.com/vote/