Mid America Mortgage Inc. reports that it has purchased the e-note from North Carolina’s first e-mortgage transaction, which took place earlier this month. It was the first paperless, all-electronic closing in the state. What’s more, it was only the fifth [Read More]
U.S. home prices hit another new peak in March, rising 1.3% compared with February and 5.8% compared with April 2016, according to Black Knight Financial Services’ home price index report. The average price for a home hit $272,000, up from [Read More]
Valerie Ausband has been promoted to senior vice president for field sales for Arch Mortgage Insurance Co. (Arch MI). Ausband, who has more than 20 years of experience in the industry, joined United Guaranty Corp. (UGC) as senior account executive [Read More]
The default rate on first mortgages dropped to a four-month low in April, falling to just 0.69% of loans, which is down from 0.75% in March, according to the S&P/Experian Consumer Credit Default Indices. The default rate on second mortgages [Read More]
In case you didn’t notice, integrations among software platforms of all types are running rampant through the mortgage industry. And, in many cases, these integrations are creating opportunities to automate processes, reduce errors and gain new operational efficiencies. Such is [Read More]
Guild Mortgage has launched a new conventional loan program that requires only a 1% down payment from the borrower. The new program combines a borrower’s 1% down payment with a 2% grant from Guild, thus resulting in a loan with [Read More]
Mortgage application volume jumped 4.4% during the week ended May 19, with most of the increase stemming from an 11% week-over-week spike in applications for refinances, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey. It was the [Read More]
Apparently, there is a problem with leasing REOs “as is” and shifting responsibility for repairs and maintenance to the renter in certain “rent-to-own” models.
Existing-home sales were at a seasonally adjusted annual rate of about 5.57 million in April – down 2.3% from a downwardly revised estimate of 5.70 million in March, according to the National Association of Realtors (NAR). Despite the month-over-month decrease, [Read More]
The delinquency rate on first-lien mortgages (30 days or more past due) stood at 4.08% as of the end of April – an increase of 12.93% compared with March but a decrease of 3.58% in April 2016, according to Black [Read More]
Through the acquisition, Flagstar gains a significant number of correspondent relationships accounting for more than $7 billion in agency and government loans in 2016.
Servicers must fully understand the complexities behind working with HOA/COA properties so they can protect themselves from having to pay unnecessary fees.
Appraisers are concerned about the technology movement, including the use of big data and analytics, and how that might impact their careers in the future.
Loan quality subject matter expert and analyst Ann Fulmer has joined asset verification solutions provider FormFree as chief strategy and industry relations officer. A nationally recognized strategist, thought leader, speaker and author specializing in data integrity, fraud and federal/Consumer Financial [Read More]
As of the end of April, there were about 268,000 new homes available for sale nationwide – about a 5.7-month supply at the current sales rate.
Pre-foreclosure management of properties can be greatly improved with technology.
Supreme Lending has opened a new branch in the Denver market that will be managed by 25-year industry veteran Carlos Ruiz. Ruiz has been in the mortgage industry for 25 years and has strong knowledge of the full range of [Read More]
Fast-growing Embrace Home Loans has opened another location in Washington, D.C. The new branch is located at 1001 Connecticut Ave. N.W., Ste. 405, and will be managed by mortgage professional Margie Hennessey. Hennessey has more than 13 years of mortgage [Read More]
USFN–America’s Mortgage Banking Attorneys and its member firms from across all 50 states will soon be publishing a comprehensive guide and matrix in order to provide mortgage servicers with assistance in navigating the Consumer Financial Protection Bureau’s (CFPB) new successor [Read More]
Mortgage document preparation vendor International Document Services Inc. (IDS) reports that its Uniform Closing Dataset (UCD) XML file has been certified to meet all UCD requirements by government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac – ahead of the GSEs’ [Read More]