Residential Mortgage

HomeUnion: Home Price Appreciation Is Flattening, But Investment Homes Are The Exception

Orb Staff
Orb Staff on May 02, 2016

U.S. home price appreciation is flattening, but investment homes are the exception, a recent report from real estate investment management firm and data provider HomeUnion shows. According to the firm’s research, the median price for an owner-occupied home decreased 1.1% [Read More]

Mid America Mortgage Hires Michael J. Lima To Oversee Whole Loan Trading

Orb Staff
Orb Staff on May 02, 2016

Michael Lima has joined Mid America Mortgage Inc. as managing director of the company’s whole loan trading division. Lima has nearly 30 years of mortgage banking and capital markets expertise. Previously, he served as chief risk officer for Guardian Mortgage [Read More]

Report: Home Price Increases Muting Affordability Gains From Low Interest Rates

Orb Staff
Orb Staff on May 02, 2016

Interest rate decreases since the start of this year have resulted in the population of “refinanceable” mortgage borrowers swelling to about 7.5 million, according to Black Knight Financial Services’ Mortgage Monitor report for March. However, the seemingly unstoppable momentum in [Read More]

Risk Of Mortgage Application Defects Rises For First Time Since July 2015

Orb Staff
Orb Staff on May 02, 2016

The risk of fraud and/or “defects” in mortgage loan applications increased 1.3% in March compared with February but decreased 2.6% compared with March 2015, according to First American Financial Corp.‘s Loan Application Defect Index. It was the first time the [Read More]

CFPB To Tweak TRID For Greater Clarity

Orb Staff
Orb Staff on Apr 28, 2016

In a letter to “industry trades and lenders” dated April 28, Richard Cordray, director of the CFPB, says the bureau acknowledges that implementation of the new rule poses “many operational challenges.”

FOMC Votes To Keep Rates Where They Are, For Now

Orb Staff
Orb Staff on Apr 27, 2016

Although “labor market conditions have improved,” real household income “has risen at a solid rate,” and “the housing sector has improved” since its previous meeting, the Federal Open Market Committee (FOMC) voted in March to “maintain the target range for [Read More]

Brian Benson Steps Down As CEO Of ClosingCorp

Orb Staff
Orb Staff on Apr 27, 2016

Brian Benson has reportedly stepped down from his role as CEO of ClosingCorp, a provider of residential real estate closing cost data and technology for the mortgage and real estate services industries. As per a company statement, ClosingCorp has seen [Read More]

MiMi Says U.S. Housing Market Is Poised For Awesomeness

Orb Staff
Orb Staff on Apr 27, 2016

The nation’s housing markets continued to improve in March, with one more state, Michigan, returning to its historical benchmark level of housing activity, according to Freddie Mac’s Multi-Indicator Market Index (MiMi). The index, which was introduced last year, measures the [Read More]

Fannie Mae To Securitize Reperforming Loans

Orb Staff
Orb Staff on Apr 27, 2016

Fannie Mae plans to start securitizing reperforming loans held on the company’s balance sheet in the second half of this year. The government-sponsored enterprise says it may eventually decide to sell these mortgage-backed securities to investors, as it continues to [Read More]

Home Value Forecast: Impact Of Economic Displacement In San Francisco Bay Area

Orb Staff
Orb Staff on Apr 27, 2016

According to Pro Teck Valuation Services’ Home Value Forecast, which provides insight into the current and future state of the U.S. housing market, job creation in San Francisco continues to increase while housing supply remains limited, causing a significant economic [Read More]

MBA: Mortgage Application Volume Fell 4.1%

Orb Staff
Orb Staff on Apr 27, 2016

After increasing 1.3% the previous week and 10% the week before that, mortgage application volume decreased 4.1% on an adjusted basis during the week ended April 22, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey. Applications for [Read More]

March Pending Home Sales Rose 1.4%; Lack Of Inventory Discouraging

Orb Staff
Orb Staff on Apr 27, 2016

After increasing 3.5% in February, pending home sales increased a weaker 1.4% in March to reach a score of 110.5 on the National Association of Realtors’ (NAR) Pending Home Sales Index. Not only is that the second consecutive month that [Read More]

S&P/Case-Shiller: Home Price Increases Slow Down In February

Orb Staff
Orb Staff on Apr 26, 2016

U.S. home prices increased just 0.2% on an unadjusted basis in February compared with January and increased 5.3% compared with February 2015, according to the S&P/Case-Shiller home price index. The index’s 10-city composite increased 4.6% in the year to February compared [Read More]

Summit Valuations Joins American Association Of Private Lenders

Orb Staff
Orb Staff on Apr 26, 2016

Niles, Ill.-based Summit Valuations LLC, a full-service valuation company offering nationwide real estate valuations, confirms it is now a member of the American Association of Private Lenders (AAPL), a group that provides real estate investors with online education, networking and [Read More]

AtClose Integrates With Visi Loan Review Technology

Orb Staff
Orb Staff on Apr 26, 2016

Pittsburgh-based AtClose LLC, a full-service mortgage consulting and business process outsourcing company, has integrated with Visionet’s optical character recognition-based Visi Loan Review (VLR) technology to provide customers with improved document management. This integration allows customers to pull data from title [Read More]

Parkside Lending Hires Government Lending Expert As SVP

Orb Staff
Orb Staff on Apr 26, 2016

Linda Jacopetti has joined Parkside Lending LLC, a national wholesale and correspondent lender, as senior vice president of government operations to support the company’s growing government lending programs. In this position, Jacopetti will direct the operations and execution of Parkside’s [Read More]

Origin Bank Using PathSoftware For Mortgage Origination

Orb Staff
Orb Staff on Apr 25, 2016

Origin Bank, formerly Community Trust Bank, is the latest lender to sign up for PathSoftware, a new cloud-based mortgage loan origination system (LOS) from CalyxSoftware. The Louisiana-chartered bank, which is more than a century old and provides a wide range [Read More]

Simplifile: About 75% Of U.S. Counties Can Now Accept Mortgages Electronically

Orb Staff
Orb Staff on Apr 25, 2016

About 49 more counties in 20 states adopted technology facilitating the electronic recording of electronic mortgages during the first quarter, according to Simplifile, a provider of electronic document and data workflow technology for lenders, settlement agents and county recorder’s offices. [Read More]

Mortgage Lender Says It’s Seeing ‘Marked Uptick’ In Non-QM Loan Activity

Orb Staff
Orb Staff on Apr 25, 2016

Altavera Mortgage Services, which offers third-party residential mortgage origination services, reports that it has seen a marked uptick in non-qualified mortgage (non-QM) inquiries in the first quarter. “While non-QM still represents only a portion of our overall client portfolio, approximately [Read More]

Black Knight: U.S. Home Prices Crept Up More In February

Orb Staff
Orb Staff on Apr 25, 2016

U.S. home prices increased 0.7% in February compared with January and increased 5.3% compared with February 2015, according to Black Knight Financial Services’ home price index report. The average price for a home was about $254,000, an increase of 27.5% [Read More]