Residential Mortgage

Lender Price Names CEO, Gets More VC Funding

Posted by Patrick Barnard on September 25, 2017

Veteran mortgage industry executive Jerry Halbrook has been named CEO of Lender Price, a provider of digital mortgage lending technology. In addition, the firm has received a new round of venture capital funding to expand its capacity. Halbrook has nearly [Read More]

Black Knight: Home Prices Jumped Again in July, But Rate of Increase is Slowing

Posted by Patrick Barnard on September 25, 2017

U.S. home prices increased 0.5% in July compared with June and were up 6.2% compared with July 2016, according to Black Knight’s home price index report. However, home price appreciation showed signs of slowing in July, according to the mortgage [Read More]

ARMCO: Risk of Serious Defects in Mortgage Applications Jumped 7% in Q1

Posted by Patrick Barnard on September 25, 2017

The risk of critical defects in mortgage applications increased 7% in the first quarter compared with the fourth quarter, due primarily to the shift toward a purchase market, according to ARMCO’s Mortgage QC Trends Report. In total, about 1.61% of [Read More]

CoreLogic: Borrowers Saw Home Equity Increase 10.6% on Average During Past Year

Posted by Patrick Barnard on September 22, 2017

Mortgage borrowers in the U.S. saw the equity in their homes increase by a total of $766 billion in the second quarter – an increase of 10.6% compared with the second quarter of 2016, according to CoreLogic. About 63% of [Read More]

Mortgage Rates Reverse Trend, 30-Year Rises For First Time in Seven Weeks

Posted by Patrick Barnard on September 21, 2017

As had been forecast, mortgage rates moved up slightly during the week ended Sept. 21, after hitting a new low for the year the previous week. According to Freddie Mac’s Primary Mortgage Survey, the average rate for a 30-year fixed-rate [Read More]

NAR: Full Impact of Harvey, Irma, on Home Sales Won’t be Known for Months

Posted by Patrick Barnard on September 21, 2017

Existing-home sales dipped in August relative to July but were up slightly compared with August 2016, according to the National Association of Realtors (NAR). It was the fourth time in five months that existing-home sales fell, as tight inventory continued [Read More]

Average Number of Days to Close a Mortgage Fell Again in August

Posted by Patrick Barnard on September 20, 2017

Refinances represented about 35% of all mortgages originated in August – flat compared with July but down considerably from about 45% in August 2016, according to Ellie Mae’s Origination Insight Report. The lowest share for this year came in May [Read More]

MBA: Mortgage Application Volume Fell 9.7% Week After Labor Day

Posted by Patrick Barnard on September 20, 2017

After increasing 9.9% the previous week, mortgage application volume decreased 9.7% during the week ended Sept. 15, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey. Applications for refinances decreased 9% while applications for purchases feel 11%. The [Read More]

LendingQB Partnering with ValueInsured

Posted by Patrick Barnard on September 20, 2017

ValueInsured’s down payment protection solution is now integrated with LendingQB’s mortgage loan origination system, thanks to a partnership between the two companies. By making ValueInsured’s +Plus down payment protection a turnkey solution in the existing LendingQB system, lenders are able [Read More]

Black Knight Rolls Out TitlePoint 5.0

Posted by Patrick Barnard on September 20, 2017

Black Knight has released TitlePoint version 5.0, which combines the functionality of TitlePoint and TitlePoint Xpress. With TitlePoint and TitlePoint Xpress combined into a unified offering, title companies will be able to conduct title searches, create comprehensive search packages and [Read More]

Housing Starts Dipped in August, Due To Hurricane Harvey

Posted by Patrick Barnard on September 19, 2017

Housing starts dipped in August, due primarily to the impact of Hurricane Harvey, which struck the greater Houston, Texas, area for several days starting on Aug. 25. Housing starts nationwide were at a seasonally adjusted annual rate of 1.180 million, [Read More]

CoreLogic: Risk of Mortgage Application Fraud on the Rise

Posted by Patrick Barnard on September 19, 2017

The risk of fraud in mortgage applications increased 16.9% in the second quarter compared with the second quarter of 2016, according to CoreLogic’s Mortgage Fraud Report. The increase is expected because applications for purchases now make up a greater share [Read More]

Virtual StrongBox Wins Two More Patents

Posted by Patrick Barnard on September 18, 2017

Mortgage lenders know the risk they take if they fail to comply with the new regulations and guidelines put in place since the financial crisis. But because the mortgage process is becoming so automated, most lenders are now beholden to [Read More]

Mortgage Network Hires Jay Murphy as LO Serving Greater Boston Area

Posted by Patrick Barnard on September 18, 2017

Mortgage industry veteran Jay Murphy has joined Mortgage Network as a loan officer serving the Greater Boston area. Murphy has more than 10 years of mortgage banking experience. He has worked primarily in the Boston area and the Greater New [Read More]

MBA: Harvey, Irma Dented Mortgage Application Volume in Texas, Florida

Posted by Patrick Barnard on September 15, 2017

Understandably, there aren’t a whole lot of folks who would want to go home shopping and/or apply for a mortgage in coastal Texas or south Florida as a major hurricane was making landfall. Nor would they want to do so [Read More]

Starkey Mortgage Rebrands to Certainty Home Loans

Posted by Patrick Barnard on September 15, 2017

In an effort to put a stronger focus on its expertise, transparency and customer service, WR Starkey Mortgage has rebranded itself to Certainty Home Loans. The rebrand, which is set to launch on Oct. 2, includes a new customer centric [Read More]

New Trade Association Aims To Make Detroit A Major Hub For Fintech

Posted by Patrick Barnard on September 14, 2017

Nonprofit trade organization formed to grow and highlight the existing culture of technology-driven financial services in Detroit.

Mortgage Lender New American Funding Opens New Branch In San Jose

Posted by Patrick Barnard on September 14, 2017

Direct mortgage lender New American Funding reports that it has opened a new branch in downtown San Jose, Calif. The new branch in the heart of Silicon Valley occupies about 4,000 square feet of contemporary office space on the top [Read More]

Black Knight: Purchase Lending in Q2 Hit Highest Level Since 2007

Posted by Patrick Barnard on September 14, 2017

Purchase lending in the second quarter hit its highest level since 2007, according to Black Knight’s most recent Mortgage Monitor report. About $467 billion in first lien mortgages, including both purchases and refinances, were originated in during the second quarter, [Read More]

Freddie Mac: Mortgage Rates Hold Near Year-to-Date Low

Posted by Patrick Barnard on September 14, 2017

Mortgage rates held near last week’s year-to-date low, according to Freddie Mac’s Primary Mortgage Market Survey. During the week ended Sept. 14, the average rate for a 30-year fixed-rate mortgage (FRM), based on closings, was 3.78%. A year ago it [Read More]