Archive for loan origination

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.

Why Repealing Dodd-Frank Will Fail

Written by Peter G. Miller on June 08, 2017

The last time the Financial CHOICE Act was up before Congress, the bill went nowhere.

Kiel Mortgage Using ReverseVision To Originate HECMs

Posted by Patrick Barnard on June 06, 2017

Kiel Mortgage has chosen ReverseVision‘s RV Exchange (RVX) loan origination software (LOS) to power its home equity conversion mortgage (HECM) division. Founded three decades ago by a husband-and-wife team, Kiel Mortgage is a privately held mortgage lender serving three states [Read More]

Fulton Financial Corp. Upgrades To FirstClose’s Complete New Report System

Posted by Patrick Barnard on June 06, 2017

Fulton Financial Corp., a Lancaster, Penn.-based financial holding company that has 242 banking offices in Pennsylvania, Maryland, Delaware, New Jersey and Virginia through its subsidiary banks, is now using the new, complete FirstClose Report system, a refinance and home equity [Read More]

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]

Mortgage Lenders’ Next Challenge: Finding New Sources For Lien And Judgment Data

Written by Ann Fulmer on May 31, 2017

The change will make loan screening more difficult for lenders, most of which rely on the major CRAs for tax lien and civil judgment data.

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]

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]

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]

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.

Conferences: How Prepared Are You To Make The Most Of Them?

Written by Barry Hays on May 22, 2017

BLOG VIEW: Like the swallows returning to Capistrano, most of us have annual pilgrimages that mark the seasons. We call them conferences. The mortgage industry is fortunate to have some of the best annual conferences of any business sector in [Read More]

Flagstar Closes Acquisition Of Retail Mortgage Originator Opes Advisors

Written by Patrick Barnard on May 17, 2017

Flagstar Bancorp Inc. reports that it has closed its previously announced acquisition of certain assets of Opes Advisors Inc., a retail mortgage originator and wealth advisory firm headquartered in Cupertino, Calif. Terms of the deal, which was announced in early [Read More]

Housing Starts Fell Again In April

Posted by Patrick Barnard on May 16, 2017

And, yes, labor shortages are part of the cause…

Supreme Lending Opens Another Branch In Kansas City

Posted by Patrick Barnard on May 15, 2017

Fast-growing mortgage lender Supreme Lending recently opened a new branch in Kansas City, Kan., that is being managed by industry veteran Scott Somerville. Somerville, who has built a reputation for fast, personalized service, has been originating residential mortgages for 17 [Read More]

Alterra Home Loans Recruits Tom Middleton As SVP Of Business Development

Posted by Patrick Barnard on May 15, 2017

Mortgage industry veteran Tom Middleton has joined Alterra Home Loans, a national mortgage lender, as senior vice president of business development and national expansion. Middleton was previously vice president of talent acquisition and business development for On Q Financial Inc. [Read More]

MBA: Applications For Mortgages For New Home Purchases Sank 20% In April

Posted by Patrick Barnard on May 15, 2017

Applications for mortgages for new home purchases decreased 20% in April compared with March and decreased 4.3% compared with April 2016, according to the Mortgage Bankers Association’s (MBA) Builder Applications Survey. The change does not include any adjustment for typical seasonal [Read More]

Optimal Blue Partnering With Media Center CRM To Develop New Prospecting Tool

Posted by Patrick Barnard on May 12, 2017

Optimal Blue recently announced that it is partnering with Media Center CRM to offer a new prospecting tool that can be used by both mortgage professionals and their Realtor partners. This integration enables mortgage professionals to deliver real-time loan pricing [Read More]

Docutech Hires Amy Brandt As President And COO

Posted by Patrick Barnard on May 12, 2017

Amy Brandt has joined Docutech, a provider of document and e-sign technology to the mortgage industry, as president and chief operating officer (COO). Brandt has more than 20 years of mortgage and software industry experience. Most recently, she served as [Read More]