Archive for mortgage

Sanjeev Dahiwadkar: Trump’s ‘Two For One’ Order Creates Regulatory Murkiness

Written by Patrick Barnard on March 27, 2017

PERSON OF THE WEEK: The Trump administration’s executive order requiring federal regulatory bodies to eliminate two existing regulations for every new one they enact is just one of many actions that have created regulatory uncertainty for mortgage lenders and servicers. [Read More]

Mercury Network Acquires Appraisal Scope

Posted by Patrick Barnard on March 27, 2017

Mercury Network, a provider of valuation technology to mortgage lenders and appraisal management companies (AMCs), has acquired Appraisal Scope Inc., a provider of valuation management software, for an undisclosed sum. Based in Baltimore, Appraisal Scope is a provider of valuation [Read More]

Matic Insurance Now Available Via PCLender

Posted by Patrick Barnard on March 27, 2017

Matic Insurance Services is now integrated with PCLender, which means mortgage lenders using PCLender’s loan origination system have seamless access for ordering homeowners insurance through Matic. Matic works closely with a network of A-plus-rated insurance carriers in all 50 states, [Read More]

Mortech’s PPE Now Integrated With BeSmartee

Posted by Patrick Barnard on March 27, 2017

Mortech’s product and pricing engine (PPE) is now integrated with BeSmartee‘s mortgage process automation platform. That means lenders using BeSmartee to deliver online e-mortgage capabilities to their customers can now streamline their origination, rate pricing, underwriting and closing processes. With [Read More]

Nations Lending Now Using Alight Mortgage Lending

Posted by Patrick Barnard on March 27, 2017

Nations Lending Corp. is the latest mortgage lender to sign up for Alight Mortgage Lending, a continuous reforecasting solution. Alight Mortgage Lending is a cloud-based application delivering real-time, what-if scenario analysis. With this solution, CEOs, firm owners and their teams [Read More]

Black Knight: Home Prices Continued To Rise In January

Posted by Patrick Barnard on March 27, 2017

U.S. home prices increased 0.1% in January compared with December and increased 5.4% compared with January 2016, according to Black Knight Financial Services’ home price index report. It was the 57th consecutive month that home prices increased. The average home [Read More]

Falling Refis, Rising ARMs Spell Increased Defect Risk For Mortgage Lenders

Posted by Patrick Barnard on March 24, 2017

The risk of defects in mortgage applications increased 4.1% in February compared with January and was up 1.3% compared with February 2016, according to First American’s Loan Application Defect Index. The increase is due in part to the decrease in [Read More]

Second Phase Of GSEs’ Single Security Initiative Delayed

Posted by Patrick Barnard on March 24, 2017

Release 2 of the Common Securitization Platform is now planned for the second quarter of 2019, the FHFA says

Freddie Mac: Mortgage Rates Fell Despite Recent Fed Hike

Posted by Patrick Barnard on March 24, 2017

Mortgage rates dipped slightly this week, with the average rate for a 30-year, fixed-rate mortgage (FRM) falling to 4.23%, down from 4.30% the previous week, according to Freddie Mac’s Primary Mortgage Market Survey. A year ago at this time, the [Read More]

Black Knight: Prepayment Speeds Fell To Lowest Rate In Three Years

Posted by Patrick Barnard on March 24, 2017

Prepayment speeds decreased 15% in February compared with January and decreased 40% compared with February 2016, according to Black Knight Financial Services’ First Look report. Driven down by rising interest rates and lower refinance activity, it was the lowest monthly prepayment [Read More]

Survey Shows 55% Of Potential Home Buyers Willing To Go Over Budget

Posted by Patrick Barnard on March 24, 2017

A survey of potential home buyers shows that many are willing to go a surprising $37,809 over budget to get into their dream homes. The survey of more than 1,200 consumers conducted by Owners.com shows that more than half (55%) [Read More]

CFPB Fines Experian For Misleading Consumers On The Use Of Credit Scores

Posted by Patrick Barnard on March 23, 2017

The Consumer Financial Protection Bureau (CFPB) is fining credit bureau Experian for allegedly misleading consumers that the credit scores it provided were the same ones that lenders use when making credit decisions. Experian will pay $3 million to settle the [Read More]

LBA Ware Adds Matthew Marshall As Solutions Consultant

Posted by Patrick Barnard on March 23, 2017

Matthew Marshall has joined LBA Ware, a provider of automated compensation software and systems integration solutions for mortgage lenders, as solutions consultant. Previously, Marshall served as a project manager and strategic business advisor for Q2ebanking, a leading provider of secure, [Read More]

New Home Sales Increased Again In February

Posted by Patrick Barnard on March 23, 2017

After jumping 3.7% in January, new home sales in February were at a seasonally adjusted annual rate of about 592,000, an increase of 6.1% compared with about 558,000 in January and an increase of 12.8% compared with 525,000 in February [Read More]

Will Economic Uncertainty Derail The Housing Recovery?

Written by Patrick Barnard on March 23, 2017

Uncertainty in connection with the Trump administration’s policies and proposals is yet to have an impact on consumers’ psyches.

Matic Insurance’s Purchasing Software Now Integrated With BeSmartee

Posted by Patrick Barnard on March 22, 2017

Matic Insurance Services Inc.‘s insurance purchasing software is now integrated with BeSmartee‘s mortgage platform, which lenders use to provide borrowers with self-service options for getting a home loan. As a result, mortgage borrowers will have a simpler time selecting homeowners [Read More]

Credit Plus ‘Fills The Gap’ On Tax Lien And Civil Debt Information

Posted by Patrick Barnard on March 22, 2017

As part of the National Consumer Assistance Plan that becomes effective July 1, credit bureaus Equifax, TransUnion and Experian are expected to reduce the amount of tax lien and civil judgment information they report on consumer credit files. After that [Read More]

Bank Of England Mortgage Using RV Exchange To Grow Its HECM Business

Posted by Patrick Barnard on March 22, 2017

Bank of England Mortgage, a division of Bank of England, a locally owned bank headquartered in England, Ark., is now using ReverseVision‘s technology to originate reverse mortgages. More specifically, the bank has selected the RV Exchange (RVX) loan origination system [Read More]

NAR: Existing-Home Sales Dropped 3.7% In February

Posted by Patrick Barnard on March 22, 2017

Low supply in the affordable price range continues to be the “pest” that’s pushing home prices

Mortgage Cadence Launches New Version Of Enterprise Lending Center

Posted by Patrick Barnard on March 21, 2017

Mortgage Cadence, an Accenture company, has launched a new version of its Enterprise Lending Center (ELC) platform that adds a number of new features and capabilities. This new version offers lenders greater extensibility, enhanced service ordering, additional regulatory support and [Read More]