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Patrick Barnard
Patrick Barnard is a seasoned journalist with more than 20 years of experience in newspapers, magazines and online media. Prior to becoming editor for MortgageOrb.com, as well as Secondary Marketing Executive and Servicing Management magazines, he worked as a regional editor for AOL's Patch Media, covering daily news in lower Fairfield County, Conn. He also held editor roles with Technology Marketing Corp. and Penton Media. He started his career in journalism as a reporter for The Darien Times, a weekly newspaper servicing Darien, Conn., eventually rising to the rank of editor. He has also done freelance work for a number of publications. He can be reached at pbarnard@zackin.com.

Falling Refis, Rising ARMs Spell Increased Defect Risk For Mortgage Lenders

Posted by Patrick Barnard on March 24, 2017

The risk of defects in mortgage applications increased 4.1% in February compared with January and was up 1.3% compared with February 2016, according to First American’s Loan Application Defect Index. The increase is due in part to the decrease in [Read More]

Second Phase Of GSEs’ Single Security Initiative Delayed

Posted by Patrick Barnard on March 24, 2017

Release 2 of the Common Securitization Platform is now planned for the second quarter of 2019, the FHFA says

Freddie Mac: Mortgage Rates Fell Despite Recent Fed Hike

Posted by Patrick Barnard on March 24, 2017

Mortgage rates dipped slightly this week, with the average rate for a 30-year, fixed-rate mortgage (FRM) falling to 4.23%, down from 4.30% the previous week, according to Freddie Mac’s Primary Mortgage Market Survey. A year ago at this time, the [Read More]

Black Knight: Prepayment Speeds Fell To Lowest Rate In Three Years

Posted by Patrick Barnard on March 24, 2017

Prepayment speeds decreased 15% in February compared with January and decreased 40% compared with February 2016, according to Black Knight Financial Services’ First Look report. Driven down by rising interest rates and lower refinance activity, it was the lowest monthly prepayment [Read More]

Survey Shows 55% Of Potential Home Buyers Willing To Go Over Budget

Posted by Patrick Barnard on March 24, 2017

A survey of potential home buyers shows that many are willing to go a surprising $37,809 over budget to get into their dream homes. The survey of more than 1,200 consumers conducted by Owners.com shows that more than half (55%) [Read More]

CFPB Fines Experian For Misleading Consumers On The Use Of Credit Scores

Posted by Patrick Barnard on March 23, 2017

The Consumer Financial Protection Bureau (CFPB) is fining credit bureau Experian for allegedly misleading consumers that the credit scores it provided were the same ones that lenders use when making credit decisions. Experian will pay $3 million to settle the [Read More]

LBA Ware Adds Matthew Marshall As Solutions Consultant

Posted by Patrick Barnard on March 23, 2017

Matthew Marshall has joined LBA Ware, a provider of automated compensation software and systems integration solutions for mortgage lenders, as solutions consultant. Previously, Marshall served as a project manager and strategic business advisor for Q2ebanking, a leading provider of secure, [Read More]

New Home Sales Increased Again In February

Posted by Patrick Barnard on March 23, 2017

After jumping 3.7% in January, new home sales in February were at a seasonally adjusted annual rate of about 592,000, an increase of 6.1% compared with about 558,000 in January and an increase of 12.8% compared with 525,000 in February [Read More]

Will Economic Uncertainty Derail The Housing Recovery?

Written by Patrick Barnard on March 23, 2017

Uncertainty in connection with the Trump administration’s policies and proposals is yet to have an impact on consumers’ psyches.

Matic Insurance’s Purchasing Software Now Integrated With BeSmartee

Posted by Patrick Barnard on March 22, 2017

Matic Insurance Services Inc.‘s insurance purchasing software is now integrated with BeSmartee‘s mortgage platform, which lenders use to provide borrowers with self-service options for getting a home loan. As a result, mortgage borrowers will have a simpler time selecting homeowners [Read More]

Credit Plus ‘Fills The Gap’ On Tax Lien And Civil Debt Information

Posted by Patrick Barnard on March 22, 2017

As part of the National Consumer Assistance Plan that becomes effective July 1, credit bureaus Equifax, TransUnion and Experian are expected to reduce the amount of tax lien and civil judgment information they report on consumer credit files. After that [Read More]

Bank Of England Mortgage Using RV Exchange To Grow Its HECM Business

Posted by Patrick Barnard on March 22, 2017

Bank of England Mortgage, a division of Bank of England, a locally owned bank headquartered in England, Ark., is now using ReverseVision‘s technology to originate reverse mortgages. More specifically, the bank has selected the RV Exchange (RVX) loan origination system [Read More]

NAR: Existing-Home Sales Dropped 3.7% In February

Posted by Patrick Barnard on March 22, 2017

Low supply in the affordable price range continues to be the “pest” that’s pushing home prices

MBA: Despite Rates Holding Steady, Mortgage Volume Fell 2.7%

Posted by Patrick Barnard on March 22, 2017

Mortgage application volume fell 2.7% on an adjusted basis last week as rates held more or less steady, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey. Applications for refinances decreased 3%, while applications for purchases decreased 2%. [Read More]

Mortgage Cadence Launches New Version Of Enterprise Lending Center

Posted by Patrick Barnard on March 21, 2017

Mortgage Cadence, an Accenture company, has launched a new version of its Enterprise Lending Center (ELC) platform that adds a number of new features and capabilities. This new version offers lenders greater extensibility, enhanced service ordering, additional regulatory support and [Read More]

CoreLogic: Credit Risk On Closed Loans Continued To Improve In Q4

Posted by Patrick Barnard on March 21, 2017

Mortgage loans originated in the fourth quarter continued to exhibit low credit risk, as they did in the previous quarter, according to CoreLogic’s U.S. Housing Credit Index. The level of credit risk was about the same as the third quarter [Read More]

Auction.com Adds Ali Haralson As EVP, Client Management

Posted by Patrick Barnard on March 21, 2017

Mortgage servicing veteran Ali Haralson has joined Auction.com as its new executive vice president for client management. Haralson has more than 20 years of mortgage servicing experience, most recently as chief operations officer and founding member of Specialized Loan Servicing, [Read More]

SLK Global Solutions Introduces New Mobile Platform For Mortgage Lenders

Posted by Patrick Barnard on March 21, 2017

Lenders already know that mobile is the key to the next generation of mortgage borrowers. But so far, developers have been struggling with how to extend a loan origination system’s functionality out into this new environment. There is, however, a [Read More]

Automated USPAP Standard 3 Compliance Tool Launched By Pendo

Posted by Patrick Barnard on March 21, 2017

As part of its quality and compliance efforts, Pendo, a nationwide appraisal management company (AMC), has added an automated Uniform Standards of Professional Appraisal Practice (USPAP) Standard 3 compliance tool to its list of proprietary technology solutions. The company has [Read More]

MBA: Rapidly Rising Rates Took A Bite Out Of Mortgage Profits In Q4

Posted by Patrick Barnard on March 21, 2017

Due mainly to rapidly rising interest rates, it got a little less profitable to be a mortgage lender during the fourth quarter, according to the Mortgage Bankers Association’s (MBA) Quarterly Mortgage Bankers Performance Report. The net gain on each loan [Read More]