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After edging up slightly the previous week, fixed mortgage rates came back down again during the week ended Sept. 22, according to Freddie Mac’s Primary Mortgage Market Survey. The average rate for a 30-year, fixed-rate mortgage (FRM) was 3.48%, down [Read More]

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Existing-home sales were at a seasonally adjusted annual rate of 5.33 million in August – a decrease of 0.9% compared with a downwardly revised 5.38 million in July, according to the National Association of Realtors (NAR). Although August was the [Read More]

U.S. home prices increased 0.5%, on a seasonally adjusted basis, in July compared with June and were up 5.8% compared with July 2015, according to the Federal Housing Finance Agency’s monthly home price index, which is calculated using home sales [Read More]

ClosingCorp, a provider of residential real estate closing cost data and technology for the mortgage and real estate services industries, reports that it now offers a selection of packages for mid- to smaller-sized lenders. These packages provide reduced rates to [Read More]

The mortgage delinquency rate fell to 4.24% in August, a decrease of 6.04% compared with July and down 11.41% compared with August 2015, according to Black Knight Financial Services’ “First Look” mortgage report. It was a recovery from July’s spike. [Read More]

Black Knight Financial Services recently introduced a new solution that helps lenders and real estate professionals quickly and accurately estimate property taxes during the mortgage application process. The new Tax for Loan Estimation tool, developed by Black Knight’s Data & [Read More]

After increasing 4.2% the previous week, mortgage application volume plummeted a significant 7.3% on an adjusted basis during the week ended Sept. 16, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey. The previous week’s results included an [Read More]

The refinance share of total mortgage activity increased to 43% in August – up considerably from 37% in July, according to Ellie Mae’s Origination Insight Report. Meanwhile, the purchase share fell to 56% from 62% in July. Changing the balance [Read More]

“The case for an increase in the federal funds rate has strengthened,” the Federal Open Market Committee (FOMC) declared in a statement on Wednesday, following its two-day meeting. However, a sharply divided committee said in a statement that it had [Read More]

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From The Orb

PERSON OF THE WEEK: Today’s IP-based contact center systems are helping mortgage servicers gain new efficiencies, hold down operating costs and maintain compliance. The vendors that provide these systems often play an important role in helping servicers get the most [Read More]

BLOG VIEW: It is generally acknowledged that underwriting is the most crucial function of the mortgage loan production process. And, in most cases, underwriters’ compensation reflects how important they are to a lender’s business. Yet, too often, underwriters’ skills aren’t [Read More]

BLOG VIEW: The housing industry has seen solid gains in the last several years, helping lift overall economic growth. In fact, existing-home sales maintained their upward trajectory in June and increased for the fourth consecutive month, according to the National [Read More]

BLOG VIEW: Having worked with hundreds of successful retail branch managers over the last 20 years, I am often asked what the common traits are of the most successful originators and managers. The reality is there are many factors that [Read More]

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