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The U.S. homeownership rate fell to 62.9% in the second quarter – a decrease of 0.5% percentage points compared with the second quarter of 2015, when it was 63.4%, according to figures released by the U.S. Census Bureau. It was [Read More]

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Chronos Solutions, a national real estate financial services provider based in Coppell, Texas, has acquired UPF Services, a Spokane Valley, Wash.-based provider of process-driven services and technology solutions for the real estate and mortgage industries. Terms of the deal were [Read More]

Mortgage rates increased slightly for a second week in a row during the week ended July 28, with the average rate for a 30-year, fixed-rate mortgage (FRM) at about 3.48%, up from 3.45%, according to Freddie Mac’s Primary Mortgage Market [Read More]

H. Burton Embry, executive vice president and chief compliance officer for Primary Residential Mortgage Inc., has been named president of the Mortgage Compliance Professionals Association of America (MCPAOA), a new organization for mortgage compliance professionals. Embry has more than 35 [Read More]

Arun Pimpalapure has joined Chronos Solutions, a national real estate financial services provider, as chief information officer. Previously, Pimpalapure worked for Austin, Texas-based Tenura Holdings Inc., where he served as head of its technology division. While at Tenura, he led [Read More]

Pending home sales were basically flat in June, rising just 0.2% compared with May, according to the National Association of Realtors’ (NAR) Pending Home Sales Index. Once again, lack of inventory and affordability constraints were the main factors dampening pending [Read More]

Republic First Bancorp Inc., the parent company of Republic Bank, has entered into an agreement to acquire Oak Mortgage Co., a residential mortgage company headquartered in Marlton, N.J. Terms of the deal were not divulged. According to a press release, [Read More]

Colony American Finance (CAF), a specialty finance company that provides loan products to residential real estate investors, is now using OpenClose‘s loan origination system (LOS) to support its new Single Asset loan product across correspondent, wholesale and retail channels. CAF [Read More]

G. Irwin Gordon has been promoted to executive vice president and chief revenue officer at Invitation Homes, a provider of single-family rental homes. Gordon joined Invitation Homes earlier this year as chief marketing officer. He has more than 30 years [Read More]

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From The Orb

BLOG VIEW: Appraisal management companies (AMCs) in Iowa are now required to comply with a new set of requirements and conditions, as mandated by a recently enacted bill. The bill includes provisions on the conditions under which AMCs in Iowa may [Read More]

PERSON OF THE WEEK: Brent Chandler is the founder and CEO of FormFree Holdings Inc., producer of AccountChek, an investor-accepted automated asset verification solution that collects and analyzes data directly from a borrower’s financial institution to help lenders save time, [Read More]

BLOG VIEW: A highly reliable source indicates there are more people wanting to buy homes than there are willing to sell them. The National Association of Realtors’ Housing Opportunities and Market Experience Survey from the first quarter of this year [Read More]

If you think the Home Equity Conversion Mortgage, or reverse mortgage, is a relatively new product, you had better think again.

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