Freedom Bank of Virginia Taps David Sanders as Chief Accounting Officer
David Sanders has joined mortgage lender Freedom Bank of Virginia as chief accounting officer.
Sanders has extensive finance experience and is a licensed CPA. He...
Ameris Bank Launches DPA Program
Mortgage lender Ameris Bank has launched the Ameris Choice program, providing qualified applicants in the Jacksonville, Fla., area up to $20,000 in assistance to...
Miki Adams: The Growth of Down Payment Assistance Over the Past Decade
PERSON OF THE WEEK: Down payment assistance (DPA) programs have skyrocketed in popularity during the past two years, in response to the erosion of...
Mortgage Industry Mourns the Loss of Former MBA President and CEO David Stevens
David H. Stevens, who served as president and CEO of the Mortgage Bankers Association (MBA) from 2011 until 2018, passed away this week.
Stevens had...
Fannie Mae: Housing Market Will Improve in 2024
Fannie Mae is forecasting that the housing market will gradually improve in 2024, as mortgage rates decrease and home builders ramp up production.
According to...
ACES Reports Record Growth in 2023 Despite Challenging Market Conditions
Mortgage QC software provider ACES Quality Management (ACES) reports that despite challenging market conditions, the company maintained a record growth during the last few...
NAR: Existing-Home Sales Fell to Lowest Level Since 1995 in December
Existing-home sales decreased 1.0% in December compared with November and were down 6.2% compared with December 2022, according to the National Association of Realtors...
Snapdocs, Lenderlogix Partner to Enhance Lender Efficiency
Snapdocs, a provider of digital closing software, has partnered with LenderLogix, which offers a point of sale solution geared for mortgage lenders, to provide...
Applications for New Home Purchases Sank in December but Remain Up Year Over Year
Applications for mortgages for new home purchases decreased 4% in December compared with November but were up 22.2% compared with December 2022, according to...
Mortgage Rates Continue to Fall With Average Rate For 30-Year Now at 6.6 Percent
Mortgage rates fell this week to the lowest level since May, with the average rate for a 30-year, fixed-rate mortgage dropping to 6.60%, down...
Housing Starts Fell in December But Were Stronger Than Expected
Housing starts fell 4.3% in December compared with November but were up 7.6% compared with December 2022, according to estimates from the U.S. Census...
MCT: Rate Lock Volume Fell in December Despite Lower Rates
Mortgage rate lock volume decreased 13.71% in December compared with November, according to Mortgage Capital Trading Inc.
The decrease comes despite a recent drop in...
Fannie Mae: Home Price Appreciation Slowed in Q4
Single-family home prices increased 7.1% in the fourth quarter compared with the fourth quarter of 2022, according to Fannie Mae’s home price index.
That’s up...
MBA: Mortgage Applications Surged Last Week as Rates Fell
Mortgage application volume surged 10.4% last week, as the average rate for a 30-year fixed-rate mortgage fell to 6.75%, down from 6.81%, according to...
Five Tips to Help Mortgage Lenders Prepare For a Lower Interest Rate Environment
In a rising interest rate environment, mortgage applications have reached their lowest point in years, putting pressure on financial institutions, like community banks and...
Zillow Survey Shows More Homeowners Willing to Sell as Rates Fall
Twenty-one percent of homeowners were considering selling as of the fourth quarter, up from 15% in the fourth quarter of 2022, according to a...
Drop in Rates Caused Rate/Term Refi Volume to Surge in December
Refinance volume increased 43% in December compared with November due largely to a material uptick in VA Interest Rate Reduction Refinance Loans (IRRRLs) that...
Optimal Blue Native Mobile App for Android and iOS Gives Loan Officers ‘Pricing in...
Optimal Blue has released a native mobile app for Android and iOS for its product and pricing engine (PPE).
In addition, the company has announced...
Experian Verify Now Integrated With Dark Matter Technologies
Experian’s income and employment verification solution is now integrated with Dark Matter Technologies’ mortgage origination platform.
“This integration with Dark Matter allows us to alleviate...
Redfin: Share of Homeowners With Mortgage Rates Below 6 Percent Falls to 88 Percent
The share of homeowners with mortgage rates below 6% is currently around 88.5%, according to Redfin.
That’s down from a record high of 92.8% in...