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Mortgage Credit Availability Tightens in September 

Appraisal Buzz

The Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association (MBA) based on data analysis from ICE Mortgage Technology , indicates a drop in mortgage credit availability in September. While increases in the index point to looser credit, a decrease in the MCAI suggests tighter lending requirements.

Mortgage 387
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Rocket to Purchase Redfin for $1.75B

Appraisal Buzz

Founded in 2004, Redfin operates a home search platform with more than one million for-sale and rental listings and a tech-powered brokerage of more than 2,200 agents. Rocket and Redfins approaches to lending and brokerage service have always been two halves of one vision to make the whole home-buying process magical, said Kelman.

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Mortgage Credit Availability Rises, But Challenges Remain

Appraisal Buzz

The Mortgage Credit Availability Index (MCAI), a survey from the Mortgage Bankers Association (MBA) that examines information from ICE Mortgage Technology, indicates that mortgage credit availability rose in June. While increases in the index point to looser credit, a decrease in the MCAI suggests tighter lending requirements.

Mortgage 397
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Mortgage Credit Availability on the Rise 

Appraisal Buzz

The Mortgage Credit Availability Index (MCAI) , a survey from the Mortgage Bankers Association (MBA) that examines information from ICE Mortgage Technology, indicates that mortgage credit availability rose in July. While increases in the index point to looser credit, a decrease in the MCAI suggests tighter lending requirements.

Mortgage 396
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LendArch hires Karthik Kumar, TCS’s former head of mortgage

Housing Wire

Kumar was a manager at Standard Chartered Bank from 2002 to 2004. “We intend to change how lending is going to be done fundamentally – behavior, market dynamics, products,” Kumar said. He will serve as LendArch’s executive vice president and chief operating officer. .

Mortgage 370
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Interfirst Mortgage raises $175 million

Housing Wire

has raised $175 million to accelerate growth and fund new technologies , just 16 months after relaunching its operations. Last year, Interfirst relaunched its services with a new proprietary loan origination technology platform. Since 2004, they claim to have created $4 billion in equity value to investors.

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Another lender settles redlining accusations with DOJ

Housing Wire

The complaint filed in federal court on Wednesday alleges that from at least 2015 to 2021, Lakeland failed to provide mortgage lending services to Black and Hispanic neighborhoods in Newark. Federal officials said similar banks generated five times as many loan applications from prospective Black and Latino home buyers as Lakeland.