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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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Supreme Lending Opens New Branch In Exeter, N.H.

Posted by Patrick Barnard on April 19, 2017

Fast-growing mortgage lender Supreme Lending has opened a new branch in Exeter, N.H. Industry veterans Mike Behan and David Cote have been selected to co-manage the branch, which will focus on serving communities in New Hampshire, Massachusetts and Maine. Behan [Read More]

SouthLaw Hires New Associate Bankruptcy Attorney

Posted by Patrick Barnard on April 19, 2017

Lisa C. Billman has joined SouthLaw PC, a law firm focusing on the protection of creditors’ rights in Missouri, Kansas, Nebraska and Iowa, as an associate attorney for the bankruptcy department located in the firm’s corporate office in Overland Park, [Read More]

Ellie Mae Helping Mortgage Lenders Prepare For New HMDA Rules

Posted by Patrick Barnard on April 18, 2017

Loan origination system (LOS) provider Ellie Mae says it has updated its Encompass LOS for the new reporting requirements under the Home Mortgage Disclosure Act (HMDA), the bulk of which take effect on Jan. 1, 2018. With the release of [Read More]

Housing Starts Fell 6.8% In March; Single-Family Production Down 6.2%

Posted by Patrick Barnard on April 18, 2017

Housing starts in March were at a seasonally adjusted annual rate of 1.215 million, a decrease of 6.8% compared with a revised 1.303 million in February but an increase of 9.2% compared with 1.113 million in March 2016, according to [Read More]

E-Mortgage, Compliance Solutions Provider DocMagic Saw 42% Growth In 2016

Posted by Patrick Barnard on April 18, 2017

As mortgage lenders increasingly adopt e-mortgage and compliance solutions, DocMagic Inc., a provider of loan document preparation, regulatory compliance and comprehensive e-mortgage services, says it saw a 42% increase in revenue for 2016. The company credits its growth to the [Read More]

Foreclosure Activity Fell Below Pre-Recession Levels In Q1

Posted by Patrick Barnard on April 17, 2017

Foreclosure activity in the first quarter fell to the lowest level in 11 years, and the trend is expected to continue into the second quarter, according to ATTOM Data Solutions. The firm’s U.S. Foreclosure Market Report shows that foreclosure filings [Read More]

Nine More Credit Unions Sign Up For myCUmortgage

Posted by Patrick Barnard on April 17, 2017

myCUmortgage, a leading credit union service organization wholly owned by Wright-Patt Credit Union, reports that it is partnering with nine new credit unions to provide them with comprehensive mortgage tools and services. The goal, of course, is to help these [Read More]

StoneHill Group Hires Kirk Bockoven As Director Of Outsourcing

Posted by Patrick Barnard on April 17, 2017

Former Fannie Mae manager and loan quality and fraud expert Kirk Bockoven has joined The StoneHill Group, a provider of quality control (QC), due diligence and mortgage fulfillment solutions, as director of outsourcing operations. Bockoven has more than 30 years [Read More]

Linn Cook: An Open LOS Gives Lenders Flexibility Today And Tomorrow

Written by Patrick Barnard on April 17, 2017

PERSON OF THE WEEK: Mortgage lenders everywhere are upgrading to e-mortgage capabilities, which means they are moving away from the traditional paper-based processes of the past and converting over to all-digital processes. That means lenders are increasingly investing in new [Read More]

CFPB Clarifies HMDA Rule, Seeks Feedback

Posted by Patrick Barnard on April 14, 2017

The Consumer Financial Protection Bureau (CFPB) has issued a set of clarifications to its 2015 Home Mortgage Disclosure Act (HMDA) rule and is requesting feedback on the proposed changes. The changes reflect “the bureau’s ongoing and substantive engagement with stakeholders [Read More]

MBA: Applications For Mortgages For New Homes Jumped 23% In March

Posted by Patrick Barnard on April 13, 2017

Applications for mortgages for new home purchases increased 23% in March compared with February and increased 6.7% compared with March 2016, according to the Mortgage Bankers Association’s (MBA) Builder Application Survey (BAS). This change does not include any adjustment for [Read More]

Freddie Mac: 30-Year Fixed-Rate Mortgage Average Hit New Low For 2017

Posted by Patrick Barnard on April 13, 2017

Mortgage rates dipped down for a fourth straight week, with the average rate for a 30-year, fixed-rate mortgage (FRM) falling to 4.08%, down from 4.10% the previous week, according to Freddie Mac’s Primary Mortgage Market Survey. A year ago at [Read More]

MBA: Mortgage Revenues Increased In 2016, But So Did The Cost To Originate

Posted by Patrick Barnard on April 13, 2017

The average profit per mortgage originated increased to $1,346 in 2016 – up from $1,189 in 2015, according to the Mortgage Bankers Association’s Annual Mortgage Bankers Performance Report, which is based on data reported by independent mortgage bankers. What’s more, [Read More]

United States Appraisals Adds David Wegmann And John Powell To Sales Team

Posted by Patrick Barnard on April 13, 2017

Valuations industry veterans David Wegmann and John Powell have joined United States Appraisals (USA) as business development managers. Wegmann, based in the Chicago area, has more than 20 years of experience in regional and national account sales, sales management, and [Read More]

LRES Hires Mark R. Johnson As Chief Strategy Officer

Posted by Patrick Barnard on April 13, 2017

Mortgage industry veteran Mark R. Johnson has joined LRES as chief strategy officer. Johnson has more than 20 years of executive experience working for various Fortune 500 companies within the mortgage industry. Prior to LRES, he served as division president [Read More]

NAR: Vacation Home Sales Fell 21.6% In 2016

Posted by Patrick Barnard on April 13, 2017

A lack of affordability and tight supply resulted in a significant decrease in vacation home sales in 2016, a report from the National Association of Realtors (NAR) shows. The firm’s Investment and Vacation Home Buyers Survey shows that vacation home [Read More]

Accenture Acquires ClosingBridge Platform From BeesPath

Posted by Patrick Barnard on April 12, 2017

Accenture has acquired BeesPath’s ClosingBridge platform, which facilitates simple, secure communications and file exchange for real estate finance transactions. This will extend Mortgage Cadence’s loan origination functionality to include a communications platform that securely connects mortgage lenders with title and [Read More]

Economists: Weak Jobs Report Not Likely To Impact Housing Market

Written by Patrick Barnard on April 12, 2017

A return of winter weather that affected the construction segment, plus sharp job losses in the retail sector, caused the March jobs report to come in much lower than expected.

MBA: Mortgage Applications Increased 1.5%, Driven By Purchases

Posted by Patrick Barnard on April 12, 2017

Mortgage application volume increased 1.5% on an adjusted basis during the week ended April 7, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey. Applications for refinances were unchanged from the previous week, while applications for purchases increased [Read More]

Luther Burbank Savings Targets First-Time Home Buyers With ‘Grow’ And ‘Daisy’

Posted by Patrick Barnard on April 11, 2017

California mortgage lender Luther Burbank Savings has pledged to loan $50 million to first-time homebuyers via its popular “Grow” mortgage product and “Daisy” down payment assistance product. “Grow” is a fixed-rate 30-year conventional community mortgage with a down payment option [Read More]