Origination

Significant Percentage of Mortgages Carry Co-Borrowers

Posted by Michael Bates on September 08, 2017

The Q2 2017 U.S. Residential Property Loan Origination Report from ATTOM Data Solutions found that 22.8% of all purchase loan originations on single-family homes in Q2 2017 involved co-borrowers – multiple, non-married borrowers listed on the mortgage or deed of [Read More]

Home Point Names Ross Gloudeman Chief Compliance Officer

Posted by Michael Bates on September 08, 2017

Mortgage origination and servicing organization Home Point Financial Corp. has appointed Ross Gloudeman the company’s chief compliance officer. Gloudeman has 10 years of experience providing legal counsel and administration of risk and compliance management systems in the financial services and [Read More]

Encompass Users Gain Access to Land Gorilla

Posted by Michael Bates on September 05, 2017

Land Gorilla’s construction loan management cloud-based software is now available through Ellie Mae‘s Encompass mortgage management solution, allowing Encompass customers to manage their renovation, construction-only and construction-to-perm loans. Ellie Mae’s lender clients can access Land Gorilla’s Construction Loan Manager draw [Read More]

Ellie Mae Acquires Velocify

Posted by Michael Bates on September 01, 2017

Ellie Mae has signed an agreement to acquire Velocify, a company that provides sales lead management technology and tools, in order to help facilitate its vision for a “fully digital mortgage.” With the acquisition, Ellie Mae will combine Velocify’s lead [Read More]

Bankrate: Mortgage Rates Are at a Low for 2017

Posted by Michael Bates on August 31, 2017

According to Bankrate.com’s weekly national survey, mortgage rates fell to their lowest level of the year, with the benchmark 30-year fixed mortgage rate now at 3.97%. This is the first time the rate has been below 4% since last November. [Read More]

Ramaj Balley: Hope, Optimism and Excitement Are Contagious

Posted by Michael Bates on August 30, 2017

PERSON OF THE WEEK: Ramaj Balley is vice president of national retail lending at MiMutual Mortgage, a mortgage lender with retail and wholesale operations in more than 30 states. Balley contends that two things – technology and cultural identity – [Read More]

First-Time Home Purchases at Highest Mark in Almost 20 Years

Posted by Michael Bates on August 30, 2017

During the second quarter, first-timers accounted for 57% of all purchase mortgages originated.

MortgageHippo Taps Optimal Blue’s API to Enhance Originations

Posted by Michael Bates on August 30, 2017

MortgageHippo has partnered with Optimal Blue to help clients deliver a transparent borrower experience with accurate loan programs and rates in real time using the Optimal Blue API. This enterprise integration allows MortgageHippo clients to customize their own pricing configurations [Read More]

Is the Adjustable-Rate Mortgage Making a Comeback?

Posted by Archana Pradhan on August 28, 2017

During the past decade, home buyers have mostly preferred fixed-rate mortgages (FRMs) over adjustable-rate mortgages (ARMs). Proof of this is the precipitous drop in the ARM share of the dollar volume of originations, from almost 45% during mid-2005 to a [Read More]

Jet Direct Funding Debuts Wholesale Mortgage Lending Business

Posted by Michael Bates on August 28, 2017

Mortgage lender Jet Direct Funding says that following a recent pilot testing period, it is launching a wholesale lending channel and accepting broker applications for the program. “Launching a wholesale channel is a natural progression for us, and really plays [Read More]

VirPack Bringing Streamlined Document Delivery Process to Radian

Posted by Michael Bates on August 28, 2017

Radian Guaranty Inc., the mortgage insurance (MI) subsidiary of Radian Group Inc., has completed integration with the VirPack Document Management and Delivery System (DMDS) for document delivery, which will offer Radian’s customers electronic interaction to securely share loan documents. VirPack [Read More]

Mortgage Origination Volume Jumped Sharply from 2015 to 2016

Posted by Molly Boesel on August 25, 2017

A CoreLogic analysis of public records data showed that the dollar volume of all mortgages – purchase and refinance combined – originated in 2016 was nearly $2 trillion, representing a 15% increase over 2015 volumes. The number of all mortgages [Read More]

30-Year Fixed Now At Its Lowest Level Since November

Posted by Michael Bates on August 25, 2017

Freddie Mac says the 30-year fixed-rate mortgage (FRM) averaged 3.86% with an average 0.5 point for the week ending Aug. 24, 2017, which is the lowest rate since Nov. 10, 2016. A year ago at this time, the 30-year FRM [Read More]

Vantage Production Using Optimal Blue Pricing Engine

Posted by Michael Bates on August 23, 2017

Vantage Production says its VIP users can now incorporate real-time product and pricing information directly into consumers’ quotes and sales presentations via integration with Optimal Blue’s platform. Optimal Blue’s Digital Marketplace enables originators to automate their entire secondary marketing operation [Read More]

Arch MI, OpenClose Provide Integration Via LOS

Posted by Michael Bates on August 23, 2017

Arch Mortgage Insurance Comp. (Arch MI), a provider of private mortgage insurance, and OpenClose, a multichannel loan origination system (LOS) and mortgage software solutions provider, have completed a new integration allowing immediate access to Arch MI RateStar pricing from within [Read More]

Welcome, Mr. Cooper

Posted by Michael Bates on August 21, 2017

Nationstar Mortgage Holdings Inc. has officially unveiled a new brand name – Mr. Cooper – for its mortgage servicing and originations operation. The company says the brand is a “tangible expression of the company’s dedication to making the mortgage process [Read More]

GSE Rolling Out Automated Collateral Evaluation on September 1

Posted by Michael Bates on August 21, 2017

Freddie Mac says it is now offering its automated collateral evaluation (ACE) service to consumers who are buying homes or refinancing existing mortgage loans. The ACE process assesses the need for a traditional appraisal by leveraging proprietary models and using [Read More]

QuestSoft Tech Features New Loan-Level Validation Functionality

Posted by Michael Bates on August 21, 2017

QuestSoft’s Compliance EAGLE software platform has added new loan-level data checks and validation for Nationwide Mortgage Licensing System (NMLS) mortgage call reports, allowing lenders to check for and correct errors and also display warnings during the normal loan funding cycle. [Read More]

Refi Volume Inched Up a Bit in July

Posted by Michael Bates on August 18, 2017

According to Ellie Mae’s July Origination Insight Report, the percentage of refinance home loans increased three points to 35% of all closed loans, following two months of refis’ share decreasing. “The market has been shifting from refis to purchases, but [Read More]

Survey Provides Insight into Millennials’ Thoughts on Home Buying

Posted by Michael Bates on August 18, 2017

According to a recent survey conducted by loanDepot, 52% of Millennials (born between 1981 and 1997), cite no longer wanting to pay rent and being ready to start a family as two top drivers motivating them to start looking into [Read More]