News

Fannie Mae: Slowdown Likely in Second Half

Posted by Michael Bates on July 19, 2017

Expectations for 2017 economic growth remain at 2.0% amid a projected second-half slowdown, according to the Fannie Mae Economic & Strategic Research (ESR) Group’s July 2017 Economic and Housing Outlook. With the expansion having entered its ninth year, incoming data [Read More]

Purchase, Refi Origination Volumes Held Steady in June

Posted by Michael Bates on July 19, 2017

According to the June “Origination Insight Report” from Ellie Mae, the percentage of purchase home loans relative to refinances remained steady at 68% of all closed loans, while refinances remained at 32% for the second straight month. Specifically, the percentage [Read More]

Chase Taps Google’s Data to See What Mortgage Info Is Being Searched

Posted by Michael Bates on July 19, 2017

Chase Home Lending and Google recently announced a partnership whereby the organizations are collaborating to see how and what people are searching to find more information about homeownership. The “Search for Home Snapshot,” available here, offers insights that show consumers [Read More]

The Mortgage Collaborative Adds Correspondent Investor to Network

Posted by Michael Bates on July 19, 2017

Independent mortgage cooperative The Mortgage Collaborative has partnered with national correspondent investor and mortgage loan servicer The Money Source. The Money Source specializes in direct-to-agency loan securitization. The company says its approach is to provide robust product offerings for sellers [Read More]

RE/MAX: Home Sales Continue to Break Records

Posted by Michael Bates on July 17, 2017

According to the July 2017 RE/MAX National Housing Report, June 2017 home sales were 1.4% higher than in June 2016, which was previously the month with the most home sales in the nine-year history of the report. Additionally, four of [Read More]

Specialty Mortgage Bank Deploys New Underwriting System

Posted by Michael Bates on July 17, 2017

Cascade Financial Services, an independent mortgage bank based in Arizona, has implemented LoanScorecard’s Portfolio Underwriter as its automated underwriting system (AUS). Cascade, which is currently licensed in 38 states and plans to expand to the contiguous 48 states by the [Read More]

Americans View Homeownership as a Good Investment But Affordability as a Concern

Posted by Amanda Fava on July 14, 2017

Concerns over housing affordability show clear demographic divides, especially among unmarried and non-white Americans, according to the National Association of Realtors (NAR) 2017 Nation Housing Pulse Survey. The survey found that more than five out of 10 unmarried and non-white [Read More]

LenderHomePage.com Integrates POS Solution with LOS

Posted by Amanda Fava on July 14, 2017

LenderHomePage.com, a provider of a secure and compliant cloud-based digital mortgage platform, has partnered with LendingQB to integrate its digital point-of-sale solution into LendingQB’s loan origination system (LOS). The integration provides LenderHomePage.com clients with the ability to extend their LOS [Read More]

RBS Settles Mortgage Securities Lawsuit for $5.5 Billion

Posted by Michael Bates on July 12, 2017

The Royal Bank of Scotland Group (RBS) has reached a settlement with the Federal Housing Finance Agency (FHFA), the conservator of Fannie Mae and Freddie Mac, to resolve claims by the FHFA in relation to RBS’ issuance and underwriting of [Read More]

Millennials Are Hot for Minnesota?

Posted by Michael Bates on July 12, 2017

Millennials continue to compete for available housing inventory, but recent data from Ellie Mae shows that millennials are attracted to more affordable real estate markets, particularly in the upper Midwest. According to the May Ellie Mae Millennial Tracker, Hutchinson, Minn.; [Read More]

CoreLogic: Mortgage Delinquencies Continue to Decline

Posted by Michael Bates on July 12, 2017

The most recent monthly Loan Performance Insights Report from CoreLogic shows that, nationally, 4.8% of mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure) in April 2017. This figure represents a 0.5 [Read More]

Home Affordability is Moving Out of Reach in Many Places

Posted by Michael Bates on July 12, 2017

While the risk of price declines remains low, affordability is increasingly a concern in cities across the U.S., according to the Summer 2017 edition of The Housing and Mortgage Market Review (HaMMR), published by Arch Mortgage Insurance Co. (Arch MI). [Read More]

1 Million JPMorgan Chase Loans Moved to LoanSphere MSP

Posted by Michael Bates on July 12, 2017

Black Knight Financial Services Inc. says it has completed the conversion of more than 1 million home equity and private banking loans onto its LoanSphere MSP servicing system for JPMorgan Chase. JPMorgan Chase also implemented LoanSphere Loan Boarding, a tool [Read More]

IDS Boosts E-Mortgage Capabilities on Core Platform

Posted by Michael Bates on July 12, 2017

International Document Services Inc. (IDS), a mortgage document preparation vendor, has expanded the settings and capabilities of its eSign room within the idsDoc mortgage doc prep platform. The company says the new features enable lenders to create a more seamless [Read More]

UC Funds Debuts Commercial Mortgage Bridge Loan

Posted by Michael Bates on July 10, 2017

UC Funds, a specialty finance firm that originates, structures, underwrites, and asset-manages commercial real estate investments, has introduced its new UC GO non-recourse commercial mortgage bridge loan program. According to UC Funds, UC GO is the lowest-rate, most competitive commercial [Read More]

Severn Bancorp Buying Maryland-Based Settlement Services Firm

Posted by Michael Bates on July 10, 2017

Severn Bancorp Inc., the parent company of Severn Savings Bank FSB, is acquiring Mid Maryland Title Co., a real estate settlement company that handles commercial and residential real estate settlements in Maryland. Severn Bancorp says the acquisition continues its growth [Read More]

Black Knight’s Empower LOS Verified by GSEs

Posted by Amanda Fava on July 07, 2017

Black Knight Financial Services Inc. has announced that its LoanSphere Empower loan origination system (LOS) has been verified by government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac to generate Uniform Closing Dataset (UCD) files. The company says Empower is a [Read More]

Fannie Mae’s HPSI Shows Record-High Housing Sentiment

Posted by Amanda Fava on July 07, 2017

Fannie Mae’s Home Purchase Sentiment Index (HPSI) increased 2.1 percentage points in June to 88.3, matching the all-time high from February of this year, according to the government-sponsored enterprise (GSE). The GSE says the rise can be attributed to increases [Read More]

Mortgage Rates Make Biggest Weekly Jump Since March

Posted by Amanda Fava on July 06, 2017

The 30-year, fixed-rate mortgage (FRM) made its largest week-over-week leap since March, according to Freddie Mac’s Primary Mortgage Market Survey. The 30-year FRM averaged 3.96%, with an average 0.6 point for the week ending July 6 – up from last [Read More]

MBA: Mortgage Applications Increase Week Over Week

Posted by Amanda Fava on July 06, 2017

Mortgage applications increased 1.4% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending June 30. The Market Composite Index, a measure of mortgage loan application volume, increased 1.4% on [Read More]