Featured Mortgage News

Franklin American Mortgage Correspondent Lending has introduced what it claims is the industry’s first mini-bulk execution permitting assignment of trades (AOT). The new Hybrid Mandatory program employs Compass Analytics’ CompassBid and BidAOT services to streamline mini-bulk bids and AOT processing. [Read More]

Recent Mortgage News

Mid America Mortgage reports that it has acquired mortgage servicing rights (MSRs) on a portfolio of government loans with about $2.7 billion in unpaid principal balance. Terms of the deal were not divulged. A company press release does not say [Read More]

After jumping 5.5% in February, pending home sales dipped 0.8% in March, according to the National Association of Realtors (NAR). Still, pending home sales were up 0.8% compared with March 2016. The month-over-month dip in March was not due to [Read More]

After hitting a low for the year, mortgage rates were back on the rise this week, with the average rate for a 30-year, fixed-rate mortgage (FRM) rising to 4.03%, up from 3.97% the previous week, according to Freddie Mac’s Primary [Read More]

New home sales in March were at a seasonally adjusted annual rate of about 621,000, an increase of 5.8% compared with a revised rate of about 587,000 in February and an increase of 15.6% compared with about 537,000 in March [Read More]

Taking a page from the PHH Mortgage regulatory defense playbook, mortgage servicer Ocwen Financial Corp. is seeking to have a complaint from the Consumer Financial Protection Bureau (CFPB) tossed on the grounds that the CFPB’s leadership structure is unconstitutional. Ocwen [Read More]

In a move that will strengthen its capabilities in mortgage BPO services, loan fulfillment and debt servicing, HCL Technologies, a global IT services company, is acquiring Urban Fulfillment Services (UFS), a provider of mortgage business process and fulfillment services, for [Read More]

QuickInsured, an independent insurance agency specializing in the mortgage industry, reports that its homeowners insurance quote service is now available through Ellie Mae’s Encompass all-in-one mortgage management solution. The seamless integration allows lenders to order QuickInsured’s solutions directly through Encompass. [Read More]

Primary Residential Mortgage Inc. (PRMI) reports that it has opened a new brick-and-mortar location in Miami. The new location at The Crossings is under the management of Cary Roque-Valdovinos. The team at the new branch has a combined 35 years [Read More]

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From The Orb

Why blockchain technology will be the next big thing for the mortgage industry.

Much like the automotive industry, mortgage lenders and their vendor partners are now in a quest to build a fully “self-driving” mortgage process.

PERSON OF THE WEEK: Although most mortgage lenders use “best of breed” or “out of the box” loan origination systems (LOS) from the top vendors, there are still plenty out there that have developed – and that continue to support [Read More]

As is to be expected with any regulatory change, there has been some confusion and uncertainty surrounding these new rules.

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