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During its most recent meeting in April, the Federal Open Market Committee (FOMC) voted to take no action on short-term interest rates, leaving them in the range of 0.25% to 0.50% for now – however, minutes from the meeting suggest [Read More]

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The Federal Housing Administration (FHA) is seeking feedback on a set of proposed measures that will further strengthen its Home Equity Conversion Mortgage (HECM) program, including making certain that required HECM counseling occurs before a mortgage contract is signed; requiring [Read More]

Concord Mortgage Group, a full-service mortgage banker serving the needs of home buyers throughout the state of Ohio and beyond, is now using ReverseVision‘s RV Exchange solution to originate home equity conversion mortgages (HECMs), also known as reverse mortgages, to [Read More]

As of the end of the first quarter, more than 3.4 million mortgages had been refinanced through the Home Affordable Refinance Program (HARP), the Federal Housing Finance Agency (FHFA) reports. The program, which was launched in 2009 and is slated [Read More]

Loan origination system (LOS) provider OpenClose has teamed up with Mortgage Capital Trading Inc. (MCT) to develop a solution that normalizes and extracts a lender’s committed loan sale and purchase advice data to be uploaded directly into OpenClose’s LenderAssist LOS, [Read More]

About 1.4 million residential mortgages (purchases and refinances) were originated in the U.S. in the first quarter of this year – a decrease of 12% compared with the fourth quarter of 2015 and a decrease of 8% compared with the first [Read More]

Total mortgage application volume decreased 1.6% during the week ended May 13, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey. Applications for refinances increased 1% from the previous week, while applications for purchases decreased 6%. On an [Read More]

Applications for new home purchases decreased 11% on an unadjusted basis in April compared with March, according to the Mortgage Bankers Association’s (MBA) Builder Application Survey. “The index decline in April is more than likely a result of both February and [Read More]

Six regulatory bodies, including the Federal Housing Finance Agency (FHFA), are seeking comment on a proposal that would prohibit incentive-based bonuses for top executives at all covered financial institutions with assets over $1 billion. The six regulators say recent research [Read More]

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From The Orb

PERSON OF THE WEEK: Kapil Dhakad is vice president of IndiSoft, a provider of software and integration services to the mortgage industry.

PERSON OF THE WEEK: William Fall is the founder and CEO of Valuation Partners, a national appraisal management company with access to thousands of independent fee appraisers in all 50 states and many U.S. territories. MortgageOrb recently interviewed Fall to [Read More]

PERSON OF THE WEEK: Greg Schroeder is president of Mission Viejo, Calif.-based Comergence Compliance, which is focused on third-party originator and appraiser risk management and offers a SaaS-based vendor management solution.

PERSON OF THE WEEK: Larry Alston is senior vice president and general manager for Mortgage Builder Inc., an Altisource business unit that combines best practices, a broad partner network and an end-to-end loan origination platform to help lenders close more [Read More]

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