Residential Mortgage – Page 4

The Mortgage Collaborative Adds Strategic Compliance Partners to Network

Posted by Michael Bates on August 14, 2017

The Mortgage Collaborative has announced a new partnership with national compliance solutions provider Strategic Compliance Partners (SCP). SCP focuses on assisting in the development and implementation of compliance programs for mortgage banks, warehouse banks, mortgage brokers and other financial institutions. The [Read More]

MGIC Insurance Available Through LendingPad LOS

Posted by Michael Bates on August 14, 2017

Mortgage Guaranty Insurance Corp. (MGIC), a private mortgage insurer, says its portfolio of products is now available through WEI Technology LLC’s loan origination system (LOS), www.lendingpad.com. Through MISMO-based integration, originators utilizing the LendingPad LOS can order MGIC rate quotes and [Read More]

Arch MI, Mortgage Cadence Partner to Enhance LOS Experience

Posted by Michael Bates on August 14, 2017

Arch Mortgage Insurance Co. (Arch MI), a provider of private mortgage insurance, and Mortgage Cadence have collaborated to create enhanced integration capabilities for Mortgage Cadence’s Loan Fulfillment Center (LFC). With the integration, users of LFC – Mortgage Cadence’s proprietary loan [Read More]

MBA: New Home Purchases Grew 5.1% Year Over Year

Posted by Lauren Tyler on August 11, 2017

Applications for mortgages for new home purchases in July decreased 12% compared with June and increased 5.1% compared with July 2016, according to the Mortgage Bankers Association’s (MBA) Builder Applications Survey (BAS). The change does not include any adjustment for [Read More]

UWM Loan Closings: No Wet-Signing Necessary

Posted by Michael Bates on August 09, 2017

United Wholesale Mortgage (UWM) has introduced what it says is “the nation’s first virtual e-closing experience,” enabling borrowers to fulfill a full mortgage transaction without wet-signing a single document. Whereas previous versions of e-closings still required some in-person contact with [Read More]

Ally Bank Using VLR For Mortgage Portfolio Reviews

Posted by Michael Bates on August 09, 2017

Ally Bank has implemented Visionet Systems’ VisiLoanReview (VLR) solution to help facilitate its bulk loan acquisition reviews. “Visionet’s VLR solution has allowed Ally to quickly and more cost-effectively evaluate, bid on, and secure deals for Ally’s investment portfolio,” says Craig [Read More]

DOJ Settles With PHH

Posted by Michael Bates on August 08, 2017

PHH Corp., PHH Mortgage Corp. and PHH Home Loans have settled with the U.S. Department of Justice to settle allegations that they violated the False Claims Act by knowingly originating and underwriting mortgage loans that did not meet applicable FHA, [Read More]

GSE’s Home Purchase Sentiment Index Drops A Bit

Posted by Michael Bates on August 08, 2017

The Fannie Mae Home Purchase Sentiment Index (HPSI) decreased 1.5 percentage points in July to 86.8, after matching its all-time high in June. The company says the decline can be attributed to decreases in three of the six HPSI components. [Read More]

Black Knight Debuts Tool For Drilling Down Into Mortgage, Housing Markets

Posted by Michael Bates on August 08, 2017

The Data & Analytics division of Black Knight Financial Services has introduced the Black Knight Index Suite, a series of indices designed to provide insights into the housing and mortgage markets. The platform expands on the company’s existing Home Price [Read More]

Tech Provider Nets Day 1 Certainty Authorization

Posted by Michael Bates on August 08, 2017

SharperLending LLC says its 4506-T tax return verification system has been authorized by Fannie Mae as a Desktop Underwriter validation service provider for the Day 1 Certainty program. With SharperLending, mortgage lenders that order a 4506-T tax return verification can [Read More]

Wells Fargo Finally Settles Lawsuit Over Veterans Affairs Loans

Posted by Lauren Tyler on August 04, 2017

Wells Fargo & Co. announced today that the company has agreed to settle a lawsuit that claimed some Veterans Administration (VA) Interest Rate Reduction Refinance Loans (IRRRLs) originated by Wells Fargo should not have been eligible for VA guarantees. The [Read More]

Clear Capital: Southern Metros See Rising Home Price Appreciation

Posted by Lauren Tyler on August 03, 2017

Home price appreciation growth has accelerated quarter-over-quarter and year-over-year in the southern region of the U.S., according to Clear Capital’s Home Data Index (HDI) Market Report. Further, the report specifies that three out of four major southern metropolitan statistical areas (MSAs) [Read More]

Freddie Mac: Mortgage Rates Remain Mostly Unchanged

Posted by Lauren Tyler on August 03, 2017

Mortgage rates held steady for the week ending Aug. 3, with the average rate for a 30-year fixed-rate mortgage (FRM) averaging 3.93%, up just slightly from the week prior when it averaged 3.92%, according to Freddie Mac’s Primary Mortgage Market [Read More]

Mortgage Credit Availability Inched Upward In July

Posted by Lauren Tyler on August 03, 2017

Mortgage credit availability rose slightly in July, increasing 0.3% to 179.0 on the Mortgage Bankers Association’s (MBA) Mortgage Credit Availability Index (MCAI). A decrease in the MCAI indicates that lending standards are tightening, while increases are indicative of loosening credit. [Read More]

MBA Weekly Survey: Mortgage Applications Fell 2.8%

Posted by Lauren Tyler on August 02, 2017

Mortgage application volume decreased 2.8% on an adjusted basis during the week ended July 28, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey. Applications for refinances decreased 4% from the previous week, while applications for purchases decreased [Read More]

U.S. Home Prices In June Rose 6.7% Year Over Year

Posted by Lauren Tyler on August 01, 2017

U.S. home prices increased year over year by 6.7% from June 2016 to June 2017, and on a month-over-month basis, home prices increased by 1.1% in June 2017 compared with May 2017, according to CoreLogic’s home price index (HPI) report. Looking [Read More]

NAR: Pending Home Sales Reversed Course In June

Posted by Lauren Tyler on July 31, 2017

After declining for three straight months, pending home sales recovered in June as all major regions, except for the Midwest, saw an increase in contract activity, according to the National Association of Realtors (NAR). The Pending Home Sales Index, a [Read More]

First American: Defect Risk Increases For Seventh Consecutive Month

Posted by Lauren Tyler on July 31, 2017

The frequency of defects, fraudulence and misrepresentation in the information submitted in mortgage loan applications increased 1.2% in June 2017 as compared with the previous month, according to First American’s Loan Application Defect Index. Compared to June 2016, the Defect [Read More]

RPM Mortgage Announces New Regional Manager, Loan Advisor In San Diego

Posted by Lauren Tyler on July 31, 2017

RPM Mortgage (RPM), a retail mortgage lender, has added industry veteran Chad Baker to the firm as a regional manager and loan advisor based in San Diego. In this position, Baker will help grow the company’s base of loan advisors [Read More]

CoreLogic: Mortgage Application Fraud Risk Up Slightly In Q2

Posted by Patrick Barnard on July 28, 2017

The risk of fraud in mortgage applications increased in the second quarter, rising to a score of 133 on CoreLogic’s National Mortgage Application Fraud Risk Index. That’s up from a score of 132 in the first quarter and up sharply [Read More]