Residential Mortgage

Home Affordability Heavily Affected by a Lack of Inventory

Posted by Michael Bates on July 21, 2017

First American’s proprietary Potential Home Sales model for the month of June 2017 shows that a supply and demand imbalance continues to put upward pressure on house prices and is squeezing affordability. In June, potential existing-home sales increased to a [Read More]

Median U.S. Home Value Surpasses $200k for the First Time

Posted by Michael Bates on July 21, 2017

According to the June Zillow Real Estate Market Reports, the national median home value is now $200,400, up about 7.5% since this time last year and representing the first time that the typical U.S. home is worth over $200,000. “Even [Read More]

KeyStoneB2B Debuts Platform for Facilitating Title and Docs

Posted by Michael Bates on July 21, 2017

KeyStoneB2B says it has developed a new title product that will facilitate the title order, title close, and borrower and seller closing disclosures during the mortgage lending process. KeyStoneB2B offers a network of title companies that have been vetted according [Read More]

LendingTree Names New Head of Mortgage

Posted by Michael Bates on July 21, 2017

Online loan marketplace LendingTree says Sam Mischner has been promoted to chief sales officer and head of mortgage after previously serving as senior vice president, sales, and general manager, mortgage. In the new role, Mischner will lead the company’s sales [Read More]

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]

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]

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]

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]

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]

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]

HSBC Reportedly Engaged in Negotiations with DOJ

Posted by Michael Bates on July 05, 2017

Global banking behemoth HSBC Holdings is reportedly negotiating with the U.S. Department of Justice to potentially resolve open investigations regarding the company’s mortgage securities activities more than 10 years ago. According to coverage from Bloomberg, HSBC “has had at least [Read More]

Home Prices ‘Up Strongly’ According to Newest Data

Posted by Michael Bates on July 05, 2017

According to the CoreLogic Home Price Index (HPI) and HPI Forecast for May 2017, home prices are up strongly both year over year and month over month, increasing 6.6% since May 2016 and 1.2% from April to May. “The market [Read More]

United Shore Moving Corporate Headquarters

Posted by Michael Bates on July 05, 2017

United Shore, parent company of wholesale lender United Wholesale Mortgage (UWM), is moving its corporate headquarters to Pontiac, Mich., in the summer of 2018. The company will be moving into the Hewlett Packard Enterprise building at 585 South Blvd., providing [Read More]