Starts of single-family homes, however, increased 8.1% compared with August.
The Work Number, an employment and income verification service from Equifax, is now integrated with Roostify‘s mortgage processing platform. This means lenders that use Roostify for online application and loan processing now have simple access to The Work Number right [Read More]
Black Knight Financial Services reports that its LoanSphere Empower and LoanSphere LendingSpace loan origination systems can now be directly integrated with the latest government-sponsored enterprise (GSE) technology solutions and data collection tools in support of the Uniform Closing Dataset (UCD). [Read More]
Mortgage interest rates increased for a second consecutive week, with the average rate for a 30-year, fixed-rate mortgage (FRM) hitting 3.52%, up from 3.47%, according to Freddie Mac’s Primary Mortgage Market Survey. A year ago at this time, the 30-year [Read More]
Existing-home sales rebounded in September, reaching a seasonally adjusted annual rate of 5.47 million – an increase of 3.2% compared with a downwardly revised 5.30 million in August, according to the National Association of Realtors (NAR). On a year-over-year basis, [Read More]
Binh Dang, president of loan origination software provider LendingQB, has reportedly resigned from his post to “pursue other professional endeavors.” An email obtained by MortgageOrb that was sent to company partners on Wednesday announced that Dang had tendered his resignation. [Read More]
Nationwide Title Clearing (NTC) recently introduced a new, shortened version of its Assignment Verification Report (AVR) called the AVXpress (AVX). The company says this new streamlined service is faster and costs less than the AVR, without sacrificing research quality. An [Read More]
The default rate for first mortgages continued to fall in September, reaching a new recent low of 0.67%, down from 0.68% in August and down from 0.76% in September 2015, according to the S&P/Experian Consumer Credit Default Indices. Meanwhile, the [Read More]
Will the resetting of millions of home equity lines of credit (HELOCs) over the next couple of years result in a wave of defaults? That’s a question many people in the mortgage industry have been wondering for the past several [Read More]
BLOG VIEW: It’s not your imagination. There are a lot more mortgage options available with little down than in the past. The part of the marketplace long dominated by Veterans Affairs and Federal Housing Administration (FHA) financing now has new [Read More]
PERSON OF THE WEEK: Jim Micali is chief operating officer for LERETA, a provider of tax reporting solutions and data to the mortgage servicing industry. MortgageOrb recently interviewed Micali to get his view on whether the recent increase in mortgage [Read More]
Even borrowers with “lower” credit scores, say 620 or 640, are likely to have less relative debt than just a few years ago.
BLOG VIEW: This year is the 50th anniversary of Star Trek, the enduring sci-fi franchise that now has multiple generations of television and movie fans. Reading about the anniversary got me thinking about Mr. Spock’s Vulcan mind meld. It allowed [Read More]