Residential Mortgage

Freddie Mac: Mortgage Rates Continued To Seesaw Slightly

Posted by Patrick Barnard on September 23, 2016

After edging up slightly the previous week, fixed mortgage rates came back down again during the week ended Sept. 22, according to Freddie Mac’s Primary Mortgage Market Survey. The average rate for a 30-year fixed-rate mortgage (FRM) was 3.48%, down [Read More]

NAR: Existing-Home Sales Fell For Second Straight Month

Posted by Patrick Barnard on September 22, 2016

Existing-home sales were at a seasonally adjusted annual rate of 5.33 million in August – a decrease of 0.9% compared with a downwardly revised 5.38 million in July, according to the National Association of Realtors (NAR). Although August was the [Read More]

FHFA: U.S. Home Prices Increased 0.5% In July

Posted by Patrick Barnard on September 22, 2016

U.S. home prices increased 0.5%, on a seasonally adjusted basis, in July compared with June and were up 5.8% compared with July 2015, according to the Federal Housing Finance Agency’s monthly home price index, which is calculated using home sales [Read More]

ClosingCorp Introduces Menu Of Packages For Mid- To Small-Size Lenders

Posted by Patrick Barnard on September 22, 2016

ClosingCorp, a provider of residential real estate closing cost data and technology for the mortgage and real estate services industries, reports that it now offers a selection of packages for mid- to smaller-sized lenders. These packages provide reduced rates to [Read More]

Black Knight Rolls Out Tax For Loan Estimation Tool

Posted by Patrick Barnard on September 21, 2016

Black Knight Financial Services recently introduced a new solution that helps lenders and real estate professionals quickly and accurately estimate property taxes during the mortgage application process. The new Tax for Loan Estimation tool, developed by Black Knight’s Data & [Read More]

MBA: Mortgage Applications Fell 7.3%

Posted by Patrick Barnard on September 21, 2016

After increasing 4.2% the previous week, mortgage application volume plummeted a significant 7.3% on an adjusted basis during the week ended Sept. 16, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey. The previous week’s results included an [Read More]

Refinance Share Of Mortgage Activity Jumped To 43% In August

Posted by Patrick Barnard on September 21, 2016

The refinance share of total mortgage activity increased to 43% in August – up considerably from 37% in July, according to Ellie Mae’s Origination Insight Report. Meanwhile, the purchase share fell to 56% from 62% in July. Changing the balance [Read More]

Fed Says The Case For An Increase Has Strengthened

Posted by Patrick Barnard on September 21, 2016

“The case for an increase in the federal funds rate has strengthened,” the Federal Open Market Committee (FOMC) declared in a statement on Wednesday, following its two-day meeting. However, a sharply divided committee said in a statement that it had [Read More]

Housing Starts Fell 5.8% In August

Posted by Patrick Barnard on September 20, 2016

Housing starts in August were at a seasonally adjusted annual rate of 1.142 million, a decrease of 5.8% compared with a revised estimate of 1.212 million in July but an increase of 0.9% compared with 1.132 million in August 2015, [Read More]

New Mortgage Program Targets The Underserved

Posted by Patrick Barnard on September 20, 2016

The program is geared toward self-employed workers and seasonal employees who might not have the same level of documentation for income and assets that traditional, full-time workers have when applying for a mortgage.

Altavera Mortgage Services Now A Capital Markets Cooperative Preferred Provider

Posted by Patrick Barnard on September 20, 2016

Altavera Mortgage Services, a provider of third-party residential mortgage origination and closed-loan review services, is now a preferred provider for Capital Markets Cooperative, a nationwide alliance of mortgage bankers. Both Altavera and Capital Markets Cooperative were acquired by Computershare Limited [Read More]

Is Zika Impacting Home Prices Down South?

Posted by Patrick Barnard on September 20, 2016

As everyone in the real estate and mortgage industries knows, a major reason first-time home buyers are often in the market is because they are thinking about starting a family. At the same time, the Zika virus, which is more [Read More]

Rogue Credit Union Hires Greg Pool As Vice President Of Mortgage Services

Posted by Patrick Barnard on September 19, 2016

Greg Pool has joined Oregon-based Rogue Credit Union, a member-owned, not-for-profit financial cooperative with an asset base of more than $1 billion and a loan portfolio of over $914 million, as vice president of mortgage services. Pool has more than [Read More]

Doug Duncan: Despite Low Rates, Refi Share To Reach Only 42% In 2016

Patrick Barnard
Written by Patrick Barnard on September 19, 2016

The share of consumers who expect home prices to go up in the next 12 months decreased six percentage points in August compared with July, while the share who say now is a good time to sell a home decreased [Read More]

Freddie Mac: Mortgage Rates Edged Back Up

Posted by Patrick Barnard on September 16, 2016

Fixed mortgage rates edged upward during the week ended Sept. 15, according to Freddie Mac’s Primary Mortgage Market Survey. The average rate for a 30-year fixed-rate mortgage (FRM) was 3.50%, up from 3.44% the previous week. A year ago at [Read More]

Open Mortgage Hires Kevin McKnight As Vice President Of Sales

Posted by Patrick Barnard on September 15, 2016

Kevin McKnight has joined Open Mortgage, a nationwide mortgage lender, as vice president of sales. McKnight has more than 25 years’ experience in the mortgage industry. Most recently, he was national NDC sales manager at Homebridge Financial, one of the [Read More]

MBA: Applications For Mortgages For New Homes Increased 5% In August

Posted by Patrick Barnard on September 15, 2016

The MBA estimates new single-family home sales were running at a seasonally adjusted annual rate of about 601,000 units in August – an increase of 11.3% compared with the July pace of about 540,000 units.

OwnAmerica Introduces Online Valuation Service For SFR Market

Posted by Patrick Barnard on September 14, 2016

OwnAmerica, which offers technology and services to the institutional single-family rental (SFR) market, has launched a new online service for institutional and retail investors to estimate the value of performing, tenanted rental houses and to analyze their asset quality. The [Read More]

Credit Plus’ Debt Verification Service Now Integrated With Ellie Mae’s Encompass

Posted by Patrick Barnard on September 14, 2016

Credit Plus reports that its Undisclosed Debt Verifications service is now directly integrated with Ellie Mae’s Encompass loan origination system. In addition, The Work Number, an employment verification service offered through Equifax Workforce Solutions, is also now integrated with Encompass. [Read More]

MBA: Applications For Purchases Increased 9% Labor Day Week

Posted by Patrick Barnard on September 14, 2016

Mortgage applications increased 4.2% on an adjusted basis during the week ended Sept. 9, with applications for refinances rising 2% and applications for purchases jumping an impressive 9%, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey. This [Read More]