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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.
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Average FICO Score On Closed Mortgages Fell Again In February

Posted by Patrick Barnard on March 15, 2017

The average FICO score on closed mortgages dropped to 720 in February – down from 722 in January and down from 726 in December, according to Ellie Mae’s Origination Insight Report. The average FICO score for a conventional refinance was [Read More]

Industry Reacts To President Trump’s Proposed $6 Billion Cut To HUD Budget

Written by Patrick Barnard on March 15, 2017

Mortgage industry professionals are basically polarized when it comes to the Trump administration’s proposal to cut HUD’s funding by 14%.

Velocify Reaps The Rewards of Its Integration With Ellie Mae

Posted by Patrick Barnard on March 14, 2017

Velocify, a provider of sales acceleration software, reports that more than 125 mortgage lenders to date have taken advantage of its integration with Ellie Mae’s Encompass loan origination system. Expanded last year, the integration allows lenders to order Velocify’s solutions [Read More]

MBA: Applications For New Home Purchases Jumped In January

Posted by Patrick Barnard on March 14, 2017

Applications for new home purchases increased an impressive 22% in January compared with December and increased 9.2% relative to January 2016, according to the Mortgage Bankers Association’s (MBA) Builder Application Survey (BAS). The change does not include any adjustment for typical [Read More]

Home Flipping Increased 3.1% In 2016 To Reach Highest Level In A Decade

Posted by Patrick Barnard on March 13, 2017

About 193,000 single-family homes and condos were “flipped” in 2016, an increase of 3.1% compared with 2015 to reach the highest level since 2006, when about 276,000 were flipped, according to a recent report from ATTOM Data Solutions. The firm [Read More]

Survey: Millennial Talent Acquisition High Among Lenders’ Priorities

Posted by Patrick Barnard on March 13, 2017

More than 60% of mortgage lenders plan to hire millennials over the next year, according to a survey recently conducted by talent acquisition firm Rick Glass Executive Search. The survey of c-level mortgage leaders shows that millennial talent acquisition is [Read More]

Vista Equity Partners Buying Mortgage Software Firm D+H

Posted by Patrick Barnard on March 13, 2017

D+H to be merged with software maker Misys, thus creating “a global leader in financial technology,”

Paul Wetzel: E-Mortgage Adoption Means Lenders Must Focus On Security

Written by Patrick Barnard on March 13, 2017

PERSON OF THE WEEK: The e-mortgage has been evolving for several years now, and the mortgage industry is very close to achieving a true, end-to-end, fully digital mortgage process. Although some roadblocks remain, particularly with regard to the acceptance of [Read More]

Castle & Cooke Mortgage Opens New Branch On Maui

Posted by Patrick Barnard on March 13, 2017

In a move that will expand the company’s footprint in Hawaii, Castle & Cooke Mortgage has opened a new branch on Maui. The new location complements Castle & Cooke’s existing branch in Mililani, the company says in a release. Ray [Read More]

Black Knight Updates MSP For New Fannie Mae Investor Reporting Requirements

Posted by Patrick Barnard on March 13, 2017

Black Knight Financial Services has updated its LoanSphere MSP servicing system in response to changes to Fannie Mae’s investor reporting requirements. The changes, which took effect Feb. 1, eliminated the single-family mortgage-backed security (MBS) “call-in” requirement for monthly pool balance [Read More]

Insurance Provider Comparity Now Integrated With LendingQB

Posted by Patrick Barnard on March 10, 2017

Insurance provider Comparity has integrated its home insurance platform directly into LendingQB’s loan origination system (LOS). That means mortgage lenders using LendingQB’s LOS now have an easier path to order hazard insurance on behalf of borrowers. The integration makes processing [Read More]

MORNING COMMUTE: Solid Jobs Report But Wage Growth Still Lacking

Written by Patrick Barnard on March 10, 2017

MORNING COMMUTE: Welcome to Morning Commute, where it’s all about music and mortgages. And the music for this morning’s commute was: Led Zeppelin IV. Also known as the “Zoso” album. What can I say … it’s another total classic album [Read More]

Freddie Mac: Mortgage Rates Saw Significant Jump

Posted by Patrick Barnard on March 09, 2017

Mortgage rates increased significantly during the week ended March 9, with the average rate for a 30-year, fixed-rate mortgage (FRM) at around 4.21%, up from 4.10% the previous week, according to Freddie Mac’s Primary Mortgage Market Survey. A year ago [Read More]

CoreLogic: One Million Borrowers Regained Equity In 2016

Posted by Patrick Barnard on March 09, 2017

In the fourth quarter, there were about 3.17 million properties, or about 6.2% of all homes with a mortgage, with negative equity.

MBA: Mortgage Credit Availability Increased In February

Posted by Patrick Barnard on March 09, 2017

Mortgage credit availability increased 0.4% in February compared with January to reach a score of 177.8 on the Mortgage Bankers Association’s (MBA) Mortgage Credit Availability Index. “Credit availability loosened slightly in February due to the net result of two countervailing [Read More]

Sierra Pacific Mortgage Hires Al Crisanty As Wholesale Sales Manager

Posted by Patrick Barnard on March 08, 2017

Mortgage industry veteran Al Crisanty has joined Sierra Pacific Mortgage as a wholesale sales manager in the firm’s corporate office in Folsom, Calif. Crisanty has 35 years of mortgage industry experience. He spent several years as a loan originator and [Read More]

Sean Hennessey: What Mortgage Professionals Need To Succeed

Written by Patrick Barnard on March 08, 2017

PERSON OF THE WEEK: Sean Hennessey is a Maryland-based vice president for Embrace Home Loans, a nationwide mortgage lender that has been in business for more than 30 years. Currently, the firm has more than 80 offices and is licensed [Read More]

Altavera Expands Mortgage Fulfillment Operations To 10 New States

Posted by Patrick Barnard on March 08, 2017

Altavera Mortgage Services, a provider of outsourced residential mortgage origination services, reports that it has received residential mortgage licensing approval in 10 new states. That means the firm is now licensed in 36 states. The new states where Altavera’s origination [Read More]

Fiserv Now Enables Lenders To Deliver Personalized Credit Information To Borrowers

Posted by Patrick Barnard on March 08, 2017

Fiserv has launched Credit Sense, a technology solution that enables financial institutions to deliver personalized credit information to their customers by integrating credit scores into the digital banking experience. Credit Sense provides a credit score, daily credit monitoring, insight into [Read More]

TRID Caused Bulk Of QC Issues For Mortgage Lenders In 2016, Study Finds

Posted by Patrick Barnard on March 08, 2017

A study conducted by mortgage process outsourcing firm MetaSource finds that 12 of the top 15 quality control (QC) issues mortgage lenders faced in 2016 were related to the Consumer Financial Protection Bureau’s (CFPB) TILA-RESPA Integrated Disclosures (TRID) rule. In [Read More]