Residential Mortgage

Fixed Mortgage Rates Flat And Holding Near Historic Lows

Orb Staff
Orb Staff on Aug 26, 2016

Mortgage rates stayed more or less flat during the week ended Aug. 25, according to Freddie Mac’s Primary Mortgage Market Survey. The average rate for a 30-year fixed-rate mortgage (FRM) was 3.43% – unchanged from the previous week. A year [Read More]

Mercury Network Buys Platinum Data Solutions

Orb Staff
Orb Staff on Aug 25, 2016

Mercury Network, a valuation vendor management platform used by more than 700 lenders and appraisal management companies (AMCs), is acquiring Platinum Data Solutions, which offers valuation data and analytics solutions, for an undisclosed sum. The two companies have offered an [Read More]

Fannie, Freddie Update Standard Mortgage Application Form

Orb Staff
Orb Staff on Aug 24, 2016

It is the first update for the form in more than 20 years.

MBA: Mortgage Application Volume Fell 2.1%

Orb Staff
Orb Staff on Aug 24, 2016

After decreasing 4.0% the previous week, mortgage application volume fell again, decreasing 2.1% during the week ended Aug. 19, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey. Applications for refinances decreased 3% – which is surprising, considering [Read More]

Appreciation Deceleration: Home Prices Increased Only 0.2% In June

Orb Staff
Orb Staff on Aug 24, 2016

U.S. home prices increased 1.2% on a seasonally adjusted basis in the second quarter compared with the first quarter and increased 5.6% compared with the second quarter of 2015, according to the Federal Housing Finance Agency’s (FHFA) home price index. [Read More]

Existing-Home Sales Fell 3.2% In July

Orb Staff
Orb Staff on Aug 24, 2016

Just a day after it was reported that sales of new homes had reached a nine-year high in July, the National Association of Realtors (NAR) reports that sales of existing homes fell to a seasonally adjusted annual rate of 5.39 [Read More]

CoreLogic: Mortgage Originations Increased 30% To Nearly $1.8 Trillion In 2015

Orb Staff
Orb Staff on Aug 24, 2016

Mortgage origination volume reached nearly $1.8 trillion in 2015 – an increase of about 30% compared with 2014, according to CoreLogic’s MarketPulse report. “Mortgage originations rebounded last year,” writes Molly Boesel, senior economist for CoreLogic, in the report, which shows [Read More]

HomeDisclosure.com To Include ‘Death In Home’ Info

Orb Staff
Orb Staff on Aug 23, 2016

Users of HomeDisclosure.com, a pre-diligence website, now have access to “death in home” data, which is used to determine, for example, whether a murder, suicide, accidental or natural death occurred at a residence before purchasing it. Such information can be [Read More]

B2R Finance Hires Joe Hullinger As SVP

Orb Staff
Orb Staff on Aug 23, 2016

Mortgage industry veteran Joe Hullinger has joined B2R Finance, a lender serving the needs of single-family rental (SFR) property investors, as a senior vice president (SVP). Hullinger was most recently an operations executive at Genworth Mortgage Insurance, where he directed [Read More]

Average FICO Score On Closed Mortgages Rose Again In July

Orb Staff
Orb Staff on Aug 23, 2016

The mortgage refinance market regained some ground in July. About 37% of closed loans were refinances compared with 34% in June, according to Ellie Mae’s monthly Origination Insight report. Purchases, meanwhile, lost some ground. About 62% of closed loans were [Read More]

Pro Teck Valuation Services Hires Paul Gomez As CTO

Orb Staff
Orb Staff on Aug 23, 2016

Paul Gomez has joined Pro Teck Valuation Services in the newly created role of chief technology officer (CTO). In a release, the company says Gomez stood out as the top choice due to his past leadership and technical skills, as [Read More]

July New Home Sales Highest In Nine Years

Orb Staff
Orb Staff on Aug 23, 2016

New home sales in July reached the highest level so far this year, according to estimates released by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. What’s more, the rate of new home sales in [Read More]

PrimeLending Hires Sonia Zin As Loan Originator

Orb Staff
Orb Staff on Aug 23, 2016

Sonia Zin has joined Dallas-based residential mortgage originator PrimeLending, a PlainsCapital company, as a loan originator in the company’s Chattanooga, Texas, office. Zin has more than 10 years of mortgage industry experience. She previously worked at USA Mortgage. In her [Read More]

ATTOM Data Solutions Hires Todd Teta As CTO

Orb Staff
Orb Staff on Aug 22, 2016

Todd Teta has joined ATTOM Data Solutions, parent company of RealtyTrac.com, as chief technology officer (CTO). Teta has two decades of experience in technology and product innovation. Previously, he was CTO at Meyers Research, a Kennedy Wilson Company, where he led [Read More]

StoneHill Group Hires New HR Manager

Orb Staff
Orb Staff on Aug 22, 2016

Michael Cranford recently joined The StoneHill Group, a national provider of quality control, due diligence and mortgage fulfillment solutions for mortgage lenders, banks and credit unions, as the company’s new human resources manager. Cranford has more than 35 years of [Read More]

ARMCO Hires Mortgage Industry Veteran Dan Thoms As Chief Revenue Officer

Orb Staff
Orb Staff on Aug 22, 2016

Dan Thoms has joined ACES Risk Management (ARMCO), a provider of financial quality control (QC) and compliance software for the mortgage industry, as chief revenue officer. Thoms has served in executive roles in the mortgage industry for almost 20 years. [Read More]

Primero Mortgage Now Using Loan Vision For Accounting

Orb Staff
Orb Staff on Aug 22, 2016

Primero Home Loans, a privately owned mortgage banking company headquartered in Powell, Ohio, is now using Loan Vision from Bestborn Business Solutions as its accounting and financial management solution. Previously, the company was using Intuit Quickbooks. However, as George Milligan, [Read More]

New Online Lender Aims To Reinvent The Mortgage Process

Orb Staff
Orb Staff on Aug 19, 2016

A new online-only mortgage lender, Clara, says it is going to “change the way people buy homes.” The California-based company was co-founded by Jeff Foster, who previously worked at the U.S. Treasury on housing finance reform following the financial crisis, [Read More]

IDS Adds New Dashboard To Its Mortgage Document Preparation System

Orb Staff
Orb Staff on Aug 18, 2016

Mortgage document preparation vendor International Document Services Inc. (IDS) has added a fulfillment dashboard to its mortgage document preparation system idsDoc. The dashboard gives users the ability to view, track and manage all document fulfillment requests to IDS through a [Read More]

LendingQB Hires Rob Pommier As Vice President Of National Sales

Orb Staff
Orb Staff on Aug 18, 2016

Rob Pommier has joined LendingQB, a provider of loan origination technology, as vice president of national sales. Pommier started his career in the mortgage and banking finance industry more than three decades ago. Previously, he served as vice president of Altisource [Read More]