Jacob Passy is a reporter with National Mortgage News, covering breaking news in the residential mortgage industry. Passy has been with SourceMedia since 2015 and previously served as a breaking news reporter for American Banker. His work has appeared in numerous publications including CNBC, NBC News and the Wall Street Journal's Speakeasy blog. He is a graduate of the CUNY Graduate School of Journalism and Tufts University.
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The Consumer Financial Protection Bureau and other federal banking agencies should do more to protect consumers with limited English proficiency, a report from Americans for Financial Reform says.
By Jacob PassyMay 27 -
Homes owned by single men are more valuable and appreciate faster than properties owned by single women, according to an analysis from RealtyTrac.
By Jacob PassyMay 26 -
Ninety-two percent of homebuyers are reviewing their mortgage documents before closing on the loan since the Truth-in-Lending Act/Real Estate Settlement Procedures Act integrated disclosures, or TRID, went into effect in October, versus 74% previously, a survey by the American Land Title Association found.
By Jacob PassyMay 23 -
Ninety-two percent of homebuyers are reviewing their mortgage documents before closing on the loan since the Truth-in-Lending Act/Real Estate Settlement Procedures Act integrated disclosures, or TRID, went into effect in October, versus 74% previously, a survey by the American Land Title Association found.
By Jacob PassyMay 23 -
Home sales growth has been tepid nationwide thanks largely to a cooling down of the housing market in the West, according to an analysis from Summit Valuations.
By Jacob PassyMay 23 -
InSellerate, a startup sales automation software company focused on the mortgage industry, has received financial backing from Sekits Capital.
By Jacob PassyMay 20 -
Listings for new homes fell 1.1% in April, the first year-over-year drop since August 2014, according to the real estate brokerage Redfin.
By Jacob PassyMay 20 -
Two recent court rulings affirmed that lenders can enforce electronically signed and transferred notes, laying important groundwork for wider adoption of electronic mortgage technology that could improve the customer experience for borrowers and save lenders and servicers a bundle.
By Jacob PassyMay 20 -
The monitor of the Bank of America Mortgage Settlement distributed roughly $89 million Tuesday to legal assistance groups in nine states from a fund for federal tax assistance.
By Jacob PassyApril 26 -
Flagstar Bancorp in Troy, Mich., reported an increase in net income during the first quarter, mainly on higher interest income and a larger release of loan-loss reserves.
By Jacob PassyApril 26