Residential Mortgage – Page 10

Fannie Mae Hits $1 Trillion CRT Milestone

Posted by Patrick Barnard on May 31, 2017

Fannie Mae reports that it has offloaded the credit risk on mortgage pools totaling more than $1 trillion in unpaid principal to private investors via its risk sharing deals that commenced in 2013. This includes the company’s benchmark Connecticut Avenue [Read More]

MBA: Mortgage Applications Fell 3.4%

Posted by Patrick Barnard on May 31, 2017

Mortgage application volume fell 3.4% during the week ended May 26, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey. Applications for refinances decreased 6%, while applications for purchases decreased 1%, according to the report. On an unadjusted [Read More]

NAR: Pending Home Sales Fell 1.3% In April, Due Mainly To Weak Supply

Posted by Patrick Barnard on May 31, 2017

Pending home sales decreased 1.3% in April compared with March and decreased 3.3% compared with April 2016, according to the National Association of Realtors’ (NAR) Pending Home Sales Index. It was the second consecutive month that pending home sales decreased, year [Read More]

Optimal Blue Adds Third-Party Oversight To Its Offerings With Purchase Of Comergence

Posted by Patrick Barnard on May 30, 2017

Optimal Blue, offering mortgage pricing and hedging software, has acquired mortgage compliance software firm Comergence Compliance, thus significantly expanding its offerings. Founded in 2008, Comergence provides an array of third-party originator, appraiser and social media risk management solutions that verify [Read More]

Parkside Lending Adds Three New Sales Professionals In New York

Posted by Patrick Barnard on May 30, 2017

Mortgage lender Parkside Lending recently added three new professionals to its team in New York. Rich Bloom, who has 31 years of mortgage experience, including 24 years as a sales manager, will serve as the company’s new Northeastern regional manager. [Read More]

Case-Shiller: U.S. Home Prices Increased 0.3% In March

Posted by Patrick Barnard on May 30, 2017

U.S. home prices continued their upward climb in March, rising 0.3% on an adjusted basis compared with February and rising 5.8% compared with March 2016, according to the S&P CoreLogic Case-Shiller Indices. The index’s 10-city composite increased 0.9%, on an [Read More]

Mortgage Volume Was Abysmal In Q1

Posted by Patrick Barnard on May 26, 2017

How well did mortgage lenders do during the first quarter, volume-wise? In a word: abysmal. At least, when compared with recent past quarters. A little over 1.4 million loans (refinance and purchase loans) were originated – down 30% compared with [Read More]

Docutech Opens New Office In Scottsdale, Ariz.

Posted by Patrick Barnard on May 26, 2017

In order to support its growth initiatives, Docutech, a provider of document and compliance technology for the mortgage industry, has opened a new office in Scottsdale, Ariz. Employees at the new office are focused on operations, finance, sales and marketing, [Read More]

What Are Mortgage Companies Doing To Help Borrowers With Limited English?

Posted by Patrick Barnard on May 26, 2017

“What?” The Federal Housing Finance Agency (FHFA) is seeking feedback from mortgage lenders and servicers to learn more about what they are doing to help mortgage borrowers with limited English proficiency (LEP). The goal is to learn more about the [Read More]

Mid America Buys E-Note From First Fully Electronic Closing In North Carolina

Posted by Patrick Barnard on May 26, 2017

Mid America Mortgage Inc. reports that it has purchased the e-note from North Carolina’s first e-mortgage transaction, which took place earlier this month. It was the first paperless, all-electronic closing in the state. What’s more, it was only the fifth [Read More]

Black Knight: U.S. Home Prices Increased 1.3% In March

Posted by Patrick Barnard on May 26, 2017

U.S. home prices hit another new peak in March, rising 1.3% compared with February and 5.8% compared with April 2016, according to Black Knight Financial Services’ home price index report. The average price for a home hit $272,000, up from [Read More]

Arch MI Promotes Valerie Ausband To SVP, Field Sales

Posted by Patrick Barnard on May 26, 2017

Valerie Ausband has been promoted to senior vice president for field sales for Arch Mortgage Insurance Co. (Arch MI). Ausband, who has more than 20 years of experience in the industry, joined United Guaranty Corp. (UGC) as senior account executive [Read More]

Indecomm’s IncomeGenius Now Integrated With Advanced Data’s Income Tax Verification Service

Posted by Patrick Barnard on May 25, 2017

In case you didn’t notice, integrations among software platforms of all types are running rampant through the mortgage industry. And, in many cases, these integrations are creating opportunities to automate processes, reduce errors and gain new operational efficiencies. Such is [Read More]

Guild Mortgage Launches Conventional Loan Program Requiring Only 1% Down

Posted by Patrick Barnard on May 25, 2017

Guild Mortgage has launched a new conventional loan program that requires only a 1% down payment from the borrower. The new program combines a borrower’s 1% down payment with a 2% grant from Guild, thus resulting in a loan with [Read More]

MBA: Applications For Refinances Jumped 11% On Slightly Lower Mortgage Rates

Posted by Patrick Barnard on May 24, 2017

Mortgage application volume jumped 4.4% during the week ended May 19, with most of the increase stemming from an 11% week-over-week spike in applications for refinances, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey. It was the [Read More]

NAR: Existing-Home Sales ‘Stymied’ By Low Inventory In April

Posted by Patrick Barnard on May 24, 2017

Existing-home sales were at a seasonally adjusted annual rate of about 5.57 million in April – down 2.3% from a downwardly revised estimate of 5.70 million in March, according to the National Association of Realtors (NAR). Despite the month-over-month decrease, [Read More]

FormFree Hires Ann Fulmer As Chief Strategy And Industry Relations Officer

Posted by Patrick Barnard on May 23, 2017

Loan quality subject matter expert and analyst Ann Fulmer has joined asset verification solutions provider FormFree as chief strategy and industry relations officer. A nationally recognized strategist, thought leader, speaker and author specializing in data integrity, fraud and federal/Consumer Financial [Read More]

New Home Sales Dropped 11.4% In April

Posted by Patrick Barnard on May 23, 2017

As of the end of April, there were about 268,000 new homes available for sale nationwide – about a 5.7-month supply at the current sales rate.

Supreme Lending Expands Southwest Territory With New Branch In Denver

Posted by Patrick Barnard on May 22, 2017

Supreme Lending has opened a new branch in the Denver market that will be managed by 25-year industry veteran Carlos Ruiz. Ruiz has been in the mortgage industry for 25 years and has strong knowledge of the full range of [Read More]

Embrace Home Loans Opens New Location In Washington, D.C.

Posted by Patrick Barnard on May 22, 2017

Fast-growing Embrace Home Loans has opened another location in Washington, D.C. The new branch is located at 1001 Connecticut Ave. N.W., Ste. 405, and will be managed by mortgage professional Margie Hennessey. Hennessey has more than 13 years of mortgage [Read More]