Residential Mortgage – Page 8

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]

Still A Disconnect Between Home Appraisals And Owners’ Estimates

Posted by Michael Bates on June 14, 2017

According to Quicken Loans‘ latest National Home Price Perception Index (HPPI), home values continue to lag owners’ expectations: Appraised values were an average of 1.93% lower than what homeowners expected. The gap between estimated value and appraised value, on a [Read More]

Capsilon Boosting Mortgage Point-Of-Sale Technology

Posted by Michael Bates on June 14, 2017

Optimal Blue says it has partnered with Capsilon Corp. to provide a “digital mortgage experience” that ensures accurate, real-time product eligibility and pricing content. The Capsilon digital mortgage platform uses the cloud and intelligent process automation to evolve the existing [Read More]

Calyx Integrates Automated Underwriting System For Point Users

Posted by Michael Bates on June 14, 2017

Calyx Software, a provider of mortgage software, says LoanScorecard’s Portfolio Underwriter automated underwriting system (AUS) is now available to its Point and PointCentral clients. Portfolio Underwriter allows portfolio lenders to customize credit decisioning and safely originate non-agency loans that they [Read More]

National MI Insurance Rates Available Via Enhanced Integration

Posted by Michael Bates on June 14, 2017

Private mortgage insurer National Mortgage Insurance Corp. (National MI) says rate quotes are now instantly available on both standard and affordable mortgage products through the company’s integration with Optimal Blue. The availability of affordable lending mortgage insurance rates enhances National [Read More]

CoreLogic: Almost 9 Million Borrowers Have Regained Equity

Posted by Michael Bates on June 12, 2017

CoreLogic’s first-quarter (Q1) 2017 home equity analysis shows that U.S. homeowners with mortgages (about 63% of all homeowners) have seen their equity increase by a total of $766.4 billion since the first quarter of last year 2016, representing an increase [Read More]

New Study Analyzes The Prominent ‘Hurdles To Homeownership’

Posted by Michael Bates on June 12, 2017

A recent study from Rosen Consulting Group (RCG), “Hurdles to Homeownership: Understanding the Barriers,” contends that despite steadily improving job markets and historically low mortgage rates, significant barriers to homeownership continue to hinder market growth. Conducted in concert with the [Read More]

Zillow: Mortgage Payments In Many Large Markets Are ‘Unaffordable’

Posted by Michael Bates on June 12, 2017

Zillow recently performed an analysis on home prices, down payments and mortgages, finding that in more than half of the nation’s 35 largest markets, buying the typical home listed for sale requires a greater share of income than the median-valued [Read More]

Freddie Mac: Average 30-Year Fixed Rate Drops

Posted by Michael Bates on June 12, 2017

According to Freddie Mac’s latest Primary Mortgage Market Survey, the 30-year fixed mortgage rate has dropped for the fourth consecutive week and has hit its lowest level in nearly seven months. The survey findings include the following: The 30-year, fixed-rate [Read More]

Goldman Sachs, Balbec Capital Among Latest NPL Sale Winners

Posted by Michael Bates on June 12, 2017

Government-sponsored enterprise (GSE) Fannie Mae has announced that MTGLQ Investors (Goldman Sachs), Igloo Series III Trust (Balbec Capital LP) and Rushmore Loan Management Services LLC are the winning bidders for its 10th nonperforming loan sale. According to the GSE, the [Read More]

Will Removing Tax Lien And Judgment Data From Credit Reports Increase Risk?

Written by Debbie K. Hoffman and Martin Arana on June 12, 2017

Removing tax liens and civil judgments from credit data will open more credit opportunities for consumers; however, for lenders and servicers, it could mean increased risk.

Castle & Cooke Mortgage Opens New Location In Tennessee

Posted by Patrick Barnard on June 09, 2017

Castle & Cooke Mortgage reports that it has opened a new branch in the Memphis, Tennessee area. John Brawner, who has 24 years of mortgage industry experience, will manage the new branch. “The addition of the greater Memphis market is [Read More]

Report Shows That 68% Of Loan Defects In 2016 Were Related To TRID

Posted by Patrick Barnard on June 09, 2017

More than 68% of loan defects reported in 2016 were related to the TILA-RESPA Integrated Disclosures (TRID) rule, data from mortgage software firm ACES Risk Management (ARMCO) shows. The firm’s Mortgage QC Industry Trends Report for the fourth quarter of [Read More]

IDS Adds Mortgage Document Preview Feature To LendingQB Integration

Posted by Patrick Barnard on June 09, 2017

Mortgage document preparation vendor International Document Services Inc. (IDS) says it has incorporated a new document preview feature into its integration with LendingQB’s cloud-based loan origination solution (LOS). The feature allows LendingQB users to preview mortgage documents, such as the [Read More]