Archive for loan origination

Trump Taps Pam Patenaude To Become Next HUD Deputy Secretrary

Posted by Patrick Barnard on April 28, 2017

“Pam is an exceptional choice for the position,” says David H. Stevens, president and CEO of the Mortgage Bankers Association

QuickInsured Now Integrated With Ellie Mae’s Encompass

Posted by Patrick Barnard on April 26, 2017

QuickInsured, an independent insurance agency specializing in the mortgage industry, reports that its homeowners insurance quote service is now available through Ellie Mae’s Encompass all-in-one mortgage management solution. The seamless integration allows lenders to order QuickInsured’s solutions directly through Encompass. [Read More]

MBA: Falling Mortgage Rates Caused Surge In Applications For Refinances

Posted by Patrick Barnard on April 26, 2017

A surge in applications for refinances linked to a recent drop in mortgage interest rates caused mortgage application volume to increase 2.7% on an adjusted basis during the week ended April 21, according to the Mortgage Bankers Association’s (MBA) Weekly [Read More]

Optimal Blue Now Integrated With Total Expert’s Marketing/CRM Platform

Posted by Patrick Barnard on April 26, 2017

Optimal Blue, which offers a “digital marketplace” of loan data and analytics, as well as loan pricing and mortgage hedging software solutions, is now integrated with Total Expert Inc., a developer of marketing software for the mortgage and real estate [Read More]

Case-Shiller: U.S. Home Prices Hit All-Time High In February

Posted by Patrick Barnard on April 25, 2017

U.S. home prices increased 0.4% on an adjusted basis in February compared with January and increased 5.8% compared with February 2016, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. Not only was it the fourth consecutive month [Read More]

Self-Driving Technology And The Mortgage Industry: What Could The Future Hold?

Written by Pramod Karachur on April 25, 2017

Much like the automotive industry, mortgage lenders and their vendor partners are now in a quest to build a fully “self-driving” mortgage process.

Equifax Revamps InterConnect Platform

Posted by Patrick Barnard on April 24, 2017

Equifax Inc. reports that it recently redesigned its InterConnect platform, which mortgage lenders use for credit and risk decisioning. InterConnect is a suite of four tools, including Insight Gateway, which streamlines transactional access to diverse data sources and development of [Read More]

DIMONT Expands Collateral Loss Mitigation Department

Posted by Patrick Barnard on April 24, 2017

DIMONT, a provider of specialty insurance and loan administration services, has expanded its collateral loss mitigation department. Encompassing all of DIMONT’s services, including hazard claims adjustment, investor claims management, flood insurance valuation and loss draft management, the collateral loss mitigation [Read More]

Black Knight: U.S. Home Prices Continued To Rise In February

Posted by Patrick Barnard on April 24, 2017

U.S. home prices increased 0.8% in February compared with January and increased 5.7% compared with February 2016, according to Black Knight Financial Services’ home price index report. The average price for a home hit a post-crisis high of about $268,000, surpassing [Read More]

Alterra Home Loans Taps Gerry Fernandez As VP Of Sales

Posted by Patrick Barnard on April 24, 2017

Mortgage industry veteran Gerry Fernandez recently joined Alterra Home Loans, the second-largest Hispanic-owned mortgage company and one of the fastest-growing origination firms, as vice president of sales. Fernandez is a 20-year veteran of the loan origination business. Previously, he was [Read More]

Freddie Mac: Weak Economic Data, Global Tensions Pushed Mortgage Rates Lower

Posted by Patrick Barnard on April 21, 2017

Mortgage rates continued to drop during the week ended April 20, with the average rate for a 30-year, fixed-rate mortgage (FRM) hitting 3.97%, down from 4.08% to reach the lowest mark since November 2016, according to Freddie Mac’s Primary Mortgage [Read More]

StoneHill Group Hires Kirk Bockoven As Director Of Outsourcing

Posted by Patrick Barnard on April 17, 2017

Former Fannie Mae manager and loan quality and fraud expert Kirk Bockoven has joined The StoneHill Group, a provider of quality control (QC), due diligence and mortgage fulfillment solutions, as director of outsourcing operations. Bockoven has more than 30 years [Read More]

Linn Cook: An Open LOS Gives Lenders Flexibility Today And Tomorrow

Written by Patrick Barnard on April 17, 2017

PERSON OF THE WEEK: Mortgage lenders everywhere are upgrading to e-mortgage capabilities, which means they are moving away from the traditional paper-based processes of the past and converting over to all-digital processes. That means lenders are increasingly investing in new [Read More]

Closing Time: Learning Lessons From AI

Written by Chris Backe on April 14, 2017

CLOSING TIME: In the classic sci-fi film “2001: A Space Odyssey,” two astronauts find their lives in jeopardy when an onboard ship computer thinks it is smarter than the humans that built it and takes over their space mission. A [Read More]

Freddie Mac: 30-Year Fixed-Rate Mortgage Average Hit New Low For 2017

Posted by Patrick Barnard on April 13, 2017

Mortgage rates dipped down for a fourth straight week, with the average rate for a 30-year, fixed-rate mortgage (FRM) falling to 4.08%, down from 4.10% the previous week, according to Freddie Mac’s Primary Mortgage Market Survey. A year ago at [Read More]

MBA: Mortgage Revenues Increased In 2016, But So Did The Cost To Originate

Posted by Patrick Barnard on April 13, 2017

The average profit per mortgage originated increased to $1,346 in 2016 – up from $1,189 in 2015, according to the Mortgage Bankers Association’s Annual Mortgage Bankers Performance Report, which is based on data reported by independent mortgage bankers. What’s more, [Read More]

United States Appraisals Adds David Wegmann And John Powell To Sales Team

Posted by Patrick Barnard on April 13, 2017

Valuations industry veterans David Wegmann and John Powell have joined United States Appraisals (USA) as business development managers. Wegmann, based in the Chicago area, has more than 20 years of experience in regional and national account sales, sales management, and [Read More]

Economists: Weak Jobs Report Not Likely To Impact Housing Market

Written by Patrick Barnard on April 12, 2017

A return of winter weather that affected the construction segment, plus sharp job losses in the retail sector, caused the March jobs report to come in much lower than expected.

Luther Burbank Savings Targets First-Time Home Buyers With ‘Grow’ And ‘Daisy’

Posted by Patrick Barnard on April 11, 2017

California mortgage lender Luther Burbank Savings has pledged to loan $50 million to first-time homebuyers via its popular “Grow” mortgage product and “Daisy” down payment assistance product. “Grow” is a fixed-rate 30-year conventional community mortgage with a down payment option [Read More]

Mortgage Lender PrimeLending Opens New Location In Missouri

Posted by Patrick Barnard on April 10, 2017

National mortgage lender PrimeLending recently opened a new branch in Camdenton, Mo. Ron Yarbrough will head up the new location as branch manager. He will be joined at the new location with loan originator Michelle Curry. “We are especially proud [Read More]