Residential Mortgage

NAR Provides Snapshot Of Healthy Market In May

Posted by Michael Bates on June 21, 2017

Existing-home sales rebounded in May following a notable decline in April, and low inventory levels helped propel the median sales price to a new high while pushing down the median days a home is on the market to a new [Read More]

Bringing It All Back Home: Nationstar Onshores Call Centers

Posted by Michael Bates on June 21, 2017

Nationstar Mortgage says it has moved its international call center operations back to the U.S., creating 500 new jobs and bringing customer service closer to the company’s more than 3 million customers. Moving all call center operations onshore represents one [Read More]

Mortgage Credit Risk Is Right Around The ‘Normal Baseline’

Posted by Michael Bates on June 21, 2017

CoreLogic’s first-quarter 2017 Housing Credit Index (HCI) – a measurement of trends in six home mortgage credit-risk attributes – increased to 105.6, up 3.6 points from Q1 2016. But even with this increase, the level of credit risk in Q1 [Read More]

Share Of Purchase Mortgages Continues To Outpace Refis

Posted by Michael Bates on June 21, 2017

The percentage of purchase home loans relative to refinancings continued to increase, according to Ellie Mae’s most recent Origination Insight Report. In May, home purchases represented 68% of all closed loans, representing a 3% increase from the month prior. Specifically, [Read More]

DocMagic Tech Is Ready For Both Phases Of UCD Implementation

Posted by Michael Bates on June 21, 2017

DocMagic Inc., a provider of document production, automated compliance and e-mortgage services, says its technologies are now capable of supporting both phases of the upcoming Uniform Closing Dataset (UCD) requirement. The company’s technology solutions, which have been certified by Fannie [Read More]

Michael Schreck Joins cloudvirga As CEO

Posted by Michael Bates on June 21, 2017

cloudvirga, a developer of loan officer and direct-to-consumer, point-of-sale (POS) systems, has named Michael Schreck its CEO. He succeeds cloudvirga co-founder Bill Dallas, who will continue as chairman of cloudvirga’s board of directors. Schreck joins cloudvirga following a successful Series [Read More]

Mortgage CRM Tool Enhanced With New Functionality

Posted by Michael Bates on June 20, 2017

CRMnow has released a new version of its Mortgage iQ CRM solution that features “improved efficiencies and an all-new look and feel.” New functionality includes “quick action” menus that allow users to perform tasks from their pipeline list views with [Read More]

MBA Critical Of FHFA Recommendations

Posted by Michael Bates on June 19, 2017

The Mortgage Bankers Association (MBA) says it is supportive of many recommendations contained in the Federal Housing Finance Agency’s (FHFA) annual report to Congress, released last week. However, the organization has also expressed concerns about certain measures the FHFA is [Read More]

Fannie Mae Provides Updated Economic Forecast

Posted by Michael Bates on June 19, 2017

According to the Fannie Mae Economic & Strategic Research Group’s June 2017 Economic and Housing Outlook, the current economic expansion is forecast to continue, with full-year growth at 2% for 2017. “This month marks the eighth anniversary of the U.S. [Read More]

New Unit Encompasses Correspondent, Warehouse And Capital Markets

Posted by Michael Bates on June 19, 2017

Mortgage originator and servicer Home Point Financial Corp. has formed its new Institutions Group, which comprises correspondent lending, capital markets and Home Point’s wholly-owned warehouse lending subsidiary, NattyMac. “With the introduction of our Institutions Group, we have a structure and [Read More]

Visionet Tool In Step With Freddie Mac UCD Requirements

Posted by Michael Bates on June 19, 2017

Visionet Systems, a provider of technology solutions and business process outsourcing services for the mortgage industry, has become a verified technology integration vendor for Freddie Mac’s Loan Closing Advisor platform. Visionet’s CD2UCD solution was tested to ensure that its interface [Read More]

Premium Title Nets Morningstar MOR RV1 Rating

Posted by Michael Bates on June 19, 2017

Atlanta-based title and settlement services provider Premium Title – a subsidiary of Altisource Portfolio Solutions – has received a MOR RV1 residential vendor ranking for title insurance services from Morningstar Credit Ratings LLC. Premium Title handles work related to refinance, [Read More]

Firms Integrate Tech To Deliver Product Eligibility And Pricing

Posted by Michael Bates on June 19, 2017

Velma.com has chosen Optimal Blue as its partner to provide mortgage lenders with accurate, real-time product eligibility and pricing through the Optimal Blue API. Enterprise lenders using Velma’s CRM and marketing platforms will be able to leverage Optimal Blue’s loan-officer-specific, [Read More]

New Home Lending: ‘More Sustained Activity’ Possible

Posted by Michael Bates on June 16, 2017

The Mortgage Bankers Association’s (MBA) Builder Application Survey (BAS) data for May 2017 shows mortgage applications for new home purchases increased 15% compared with May 2016. Compared with April 2017, applications increased by 4% relative to the previous month. “Following [Read More]

Stearns Debuts New Jumbo Loan Program

Posted by Michael Bates on June 16, 2017

Stearns Lending LLC, a provider of residential mortgage lending services, has introduced a new mortgage product to help borrowers secure financing for homes worth more than $1 million. Whether a home buyer is upgrading to a larger home or lives [Read More]

Mortgage Rates More Or Less Flat Week To Week

Posted by Michael Bates on June 16, 2017

Mortgage rates did not move much this past week, as the benchmark 30-year fixed inched lower and remains at the lowest level in seven months, according to Bankrate.com’s weekly national survey. The average 30-year fixed mortgage had a rate of [Read More]

M&T Bank Lauded For CRA Lending Activity

Posted by Michael Bates on June 16, 2017

M&T Bank has received an “Outstanding” Community Reinvestment Act (CRA) rating from the New York State Department of Financial Services, representing the highest rating of how well an organization helps meet borrowers’ credit needs, including among low- to moderate-income neighborhoods [Read More]

Open Mortgage Launches Wholesale Program

Posted by Michael Bates on June 14, 2017

Open Mortgage LLC, a provider of traditional and reverse mortgages throughout the U.S., has rolled out a wholesale program for traditional and reverse (HECM) mortgages. The company says its program offers a wide range of products, such as FHA, USDA, [Read More]

MBA Weekly Survey: Mortgage Applications Increase

Posted by Michael Bates on June 14, 2017

For the week ending June 9, mortgage applications increased 2.8% relative to the week ending June 2, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey. The Market Composite Index, a measure of mortgage loan application [Read More]

Home Price Growth Slows, But Some Regions Buck The Trend

Posted by Michael Bates on June 14, 2017

According to recent data from Clear Capital, nationally, quarter-over-quarter home price growth has slowed slightly from 0.9% to 0.8%, but the aggregate measure disguises a growing regional divide. For instance, Florida metros Jacksonville, Orlando and Tampa all experienced a boost [Read More]