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California-based personal finance company NerdWallet has struck a deal to acquire brokerage firm Next Door Lending. Jonathon Haddad, chairman and CEO of the Association of Independent Mortgage Experts (AIME), is one of the owners of Next Door. The analysis includes first-lien mortgage originations.
Mortgage giant Fannie Mae extended its relaxed lending and appraisal standards put in place due to COVID-19 into the new year. Presented by: CoreLogic. The relaxed lending standards allowed the GSEs to use “appraisal alternatives to reduce the need for appraisers to inspect the interior of a home for eligible mortgages.”
As recession talk becomes more prevalent, some people are concerned that mortgage credit lending will get much tighter. One of the biggest reasons home sales crashed from their peak in 2005 was that the credit available to facilitate that boom in lending simply collapsed. The short (and long) answer is no, not a chance.
If we learned anything from HousingWire’s recent AI Summit , artificial intelligence (AI) is rapidly reshaping lending by streamlining processes, reducing costs, and enhancing the overall borrower experience. That’s not sustainable for a healthy mortgage industry. Click here to nominate someone.
Tech-focused real estate brokerage Radius , flush with $14 million in venture capital raised this past April, has launched a mortgagelending arm in California that it plans to roll out to additional markets sometime next year. Is now a good time to invest in real estate automation technologies?
Houston-based nonbank mortgage lender Cornerstone Home Lending is buying Roscoe State Bank , a traditional depository bank headquartered in Roscoe, Texas. The merged organization is to be known as Cornerstone Capital Bank, and the mortgage division will continue to be known as Cornerstone Home Lending. It funded $4.2
In the modern mortgage landscape, quality control (QC) stands as a critical pillar supporting the industry’s integrity and stability. This approach integrates QC principles throughout the lending process, from application to servicing.
With soaring home prices and mortgage rates putting a damper on the market for new home loans and refinancing options, it’s a challenging time for homebuyers and lenders alike. And that offers an incredible opportunity for banks and non-banks alike to improve their digital channels to better support home equity lending.
Mortgage rates trended down in July from their peak above 6% in June, but that wasn’t enough to spur mortgagelending activity. Lenders continue to face tightening profit margins as mortgage rates stay substantially higher than they were last year. Presented by: Teraverde. Rate lock volume in July fell 14.4%
In a move the Federal Housing Finance Agency said will bolster sustainability and equity, servicers for federally backed loans will obtain and maintain fair lending data. The data will stay with the loan throughout the mortgage term, regardless of whether the servicing rights change hands. Presented by: Selene Finance.
Mortgage credit is still the tightest it has been in more than six years, but steady loosening in January revealed lenders are preparing for a rebounding economy, the Mortgage Bankers Association said in a report on Tuesday. The group’s Mortgage Credit Availability Index rose 2% to 124.6 Presented by: FormFree.
Multigenerational housing, once a rarity, is now becoming commonplace and reshaping not just how we live, but also how we lend and borrow. For mortgage professionals, this presents a chance to think beyond traditional lending practices and become true financial partners for these families.
Dallas-based Comerica Bank has decided to “organically exit” the mortgage banker finance business following the tumult in the banking industry that threatened the nation’s top warehouse lenders. Representatives at Comerica referred to the presentation when asked about the bank’s decision and its implications.
After three weeks of unchanged rates, the average mortgage rate for a 30-year fixed loan jumped 8 basis points to 2.81%, reaching its highest point since mid-November, according to Freddie Mac ’s Primary Mortgage Market Survey. Increasing lending and servicing capacity – regardless of mortgage rates.
Sales Boomerang and Mortgage Coach announced an API integration between Mortgage Coach and SaaS technology provider Polly on Thursday. Now, lenders can merge the benefits of our high-performance PPE with Mortgage Coach’s ability to multiply borrower conversion,” said Adam Carmel, founder and CEO of Polly, in a statement.
For some, their present lives are troubled, often through no fault of their own. In the early 20th century, Black Americans faced significant barriers to homeownership, including racial segregation, discriminatory lending practices, and exclusionary covenants that prevented them from buying homes in certain neighborhoods.
A federal judge ordered Ronald McCord, the founder of Oklahoma City-based lender and servicer First Mortgage Company , who was also once the president of the Mortgage Bankers Association (MBA), to pay $51.8 million in restitution for mortgage fraud. As the housing market changes, so does lending fraud.
Reverse mortgage professionals made more inroads into the forward mortgage industry in 2024. This happened through dedicated conversations, partnerships between reverse and forward mortgage companies, and expanded activities in reverse that stemmed from acquisitions and expansions of existing divisions.
In Mississippi, single women on average paid 3.47% on a 30-year, conventional fixed-rate mortgage in 2019. Over the lifespan of the mortgage, the single woman in this instance will have roughly $7,000 more in mortgage payments than the single man. Presented by: Angel Oak. “I
Publicly traded lending software firm MeridianLink has acquired OpenClose , a fintech company that specializes in residential mortgage software solutions for banks, credit unions and mortgage lenders. How mortgage lenders are qualifying the value of fintech solutions. Presented by: Total Expert.
mortgage rate for a 30-year fixed loan fell four basis point this week to 2.67% – the lowest rate in the Freddie Mac ’s Primary Mortgage Market Survey’s near 50-year history. This week’s mortgage rate broke the previous record set on Dec. 6 Questions Every Mortgage Broker Should Ask Their Wholesale Lender Partner.
Securities and Exchange Commission (SEC) over insider-lending allegations brought against the bank and its former top executive, Ronald Paul. The bank, which operates a mortgage-lending unit, along with its holding company, Eagle Bancorp Inc., Presented by: GQ Ally. have agreed to pay a total of $22.9
The average 30-year fixed rate mortgage increased to 3.22% during the week ending Jan. 6, up from 3.11% the week prior, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed rate mortgage averaged 2.65%. The 15-year fixed rate mortgage averaged 2.43% last week, up from 2.33% the week prior.
Writing about digital mortgage in 2021, I am reminded of a cartoon in the New Yorker, in which two cavemen were starting a fire and one said “Stop saying everything is ‘unprecedented.’” I can set filters for my partner search on Bumble, so why can’t I filter results for a mortgage broker? Presented by: Snapdocs.
A federal judge in Georgia has given the green light for an amended “predatory lending” lawsuit to proceed against Wells Fargo. Wells Fargo has been under fire numerous times in the past over discriminatory lending allegations. The lawsuit was filed under the Fair Housing Act by three counties in Georgia.
Mortgage tech firms Mortgage Coach and Polly have teamed up on a new application programming interface (API) integration that guides borrowers through a visual representation of their loan options. The new API integration will feed real-time data from Polly’s cloud-based PPE into Mortgage Coach’s total cost analysis (TCA) presentation.
The average 30-year-fixed rate mortgage climbed to 3.56% during the week ending Jan. 20, rising from 3.45% the week prior, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed-rate mortgage averaged 2.77%. Mortgage rates moved up again as the 10-year U.S. Presented by: Acra Lending.
The average mortgage rate for a 30-year fixed loan rose 5 basis points last week to 3.02%, marking the first time since July that the industry has seen rates break above 3%, according to Freddie Mac ’s Primary Mortgage Market Survey. Increasing Lending and Servicing Capacity – Regardless of Mortgage Rates.
The average 30-year fixed-rate mortgage slipped back down to 2.77% for the week ending August 5, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. The week prior, mortgage rates had rebounded slightly to 2.80%. A year ago at this time, the 30-year fixed-rate mortgage averaged 2.88%.
The average mortgage rate for a 30-year fixed loan is now just 3 basis points away from 3%, after a 16 basis point jump last week pushed mortgage rates to 2.97%, according to Freddie Mac ’s Primary Mortgage Market Survey. Increasing lending and servicing capacity – regardless of mortgage rates.
The mortgage industry today demands speed, accuracy, and satisfied customers. ICE Mortgage Technology presents their solution that also serves as an overhaul of the home financing process. This digital mortgage setup focuses on turning manual tasks into automated ones.
Mortgage Coach , a mortgage platform that enables lenders to educate borrowers with home loan presentations, announced that its platform will be integrated with Insellerate, a customer relationship management (CRM) platform. The post Mortgage Coach integrates with Insellerate appeared first on HousingWire.
HousingWire recently spoke with John Jeanmonod, Regional Vice President of Sales at Angel Oak, about non-QM lending and the outlook for the second half of 2022. We have been out educating the mortgage industry on what non-QM is and how to utilize it since we were founded.
After ringing the bell of the New York Stock Exchange on Friday morning, Mat Ishbia’s United Wholesale Mortgage (UWM) is a publicly traded company. UWM, the second-largest mortgage originator in America , debuted trading at $11.95. Presented by: Black Knight. By 10:45 a.m. EST, it was trading at $11.65.
In December, Rocket Mortgage became the first lender to use eNotes in closing a Ginnie Mae -backed loan as part of a pilot program. Ginnie Mae launched the pilot program in 2019, paving the way for the agency to accept eNotes as satisfactory collateral for its mortgage-backed securities. Presented by: SimpleNexus.
The mortgage industry faces constant change. Encompass by ICE Mortgage Technology aims to provide a flexible end-to-end solution for lenders in a modern market. From origination to closing, it covers all lending channels in one system. Today’s housing market presents unique challenges.
The average 30-year-fixed rate mortgage increased to 3.12% during the week ending Dec. 16, up from 3.10% the week prior, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed-rate mortgage averaged 2.67%. Presented by: Equifax. Rising mortgage rates have already begun to sap demand.
The average 30-year-fixed mortgage continued to hover around the 2.86% mark for the week ending Sept. Mortgage rates have been around that mark for roughly two months, leading economists at Freddie Mac to liken it to “Groundhog Day.” A year ago, the average 15-year-fixed-rate mortgage was 2.35%. Presented by: Deluxe.
After two years of limited demand, private equity and insurance companies are increasing their allocations to single family residential mortgages. These strong fund flows are resulting in tighter credit spreads, higher prices, and an increased focus on sourcing new originations.
The National Reverse Mortgage Lenders Association (NRMLA), the reverse mortgage industry’s leading trade association, is preparing to host its 2024 Annual Meeting and Expo on Sept. The event is typically the largest, most expansive meeting for a wide variety of reverse mortgage professionals. 24-26 in San Diego.
JPMorgan Chase has tightened mortgage terms on jumbo loans for co-operatives and condominiums in Manhattan amid shrinking buyer demand, Bloomberg reported on Friday. Borrowers want consistency through the lending process – Here’s how to give them that. Presented by: Indecomm Global.
With elevated mortgage rates having persisted over the past two years, Federal Reserve Chair Jerome Powell indicated recently that a cut to the federal funds rate at this month’s meeting of the Federal Open Market Committee (FOMC) is on the table, which would likely have the effect of driving mortgage rates lower.
American Identity Group , an information security company that monitors and fixes security breaches and primarily operates in the wholesale lending space, has also become well established in the title and home warranty industries. The company now aims to embed its services in forward and reverse mortgages. 1, monitor,” Harkins said. “We
Freddie anticipates that home purchase mortgage originations will increase in the next two years, spurred by demand coupled with house appreciation. The expectation is that home purchase mortgage originations will grow from $1.9 How lenders can turbocharge mortgage operations for today’s home buyers. Presented by: Salesforce.
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