Banking System Instability May Prove Catalyst for Recession
Ongoing banking instability may affect the availability of jumbo mortgages, according to a new report from Fannie Mae's Economic and Strategic Research (ESR) Group.
Recent...
ACES: Mortgage Loan Defect Rate Jumped 20.5 Percent During Q2 2022
The rate of critical defects in mortgage loans post-closing increased 20.5% during the second quarter of 2022, rising to a rate of 2.47% of...
New Home Sales Increased in February But Remain Down Year-Over-Year
New home sales in February were at a seasonally adjusted annual rate of 640,000, an increase of 1.1% compared with January but down 19%...
Enact Integrates with Blend to Enhance the Mortgage Application Process
Enact Holdings Inc., a provider of private mortgage insurance through its insurance subsidiaries, says it has integrated with Blend, a provider of digital banking...
The Typical Down Payment Falls as Housing Market Cools
The typical U.S. homebuyer’s down payment fell 10% year over year in January to $42,375, its lowest level in nearly two years, according to...
BSI Financial Services Names New President, COO
BSI Financial Services says Harold Lewis has been hired as president and chief operating officer (COO). In this newly created position, Lewis will be...
Finance of America Reverse Renews Relationship With Celink
Celink, a reverse mortgage subservicer, recently executed a multi-year subservicing contract renewal with Finance of America Reverse, a company in the reverse mortgage industry.
Finance...
How Mortgage Brokers Can Leverage Digital to Effectively Engage Borrowers
BLOG VIEW: The mortgage market is predicted to experience turbulence in 2023 due to extended periods of high interest rates, stricter qualification criteria and...
Existing-Home Sales Surged 14.5 Percent in February as Rates Dipped
Spurred by a drop in mortgage rates, existing-home sales surged 14.5% in February compared with January, reversing 12 months of month-over-month declines, according to...
High Rates Are Keeping New Listings Low, Frustrating Willing Buyers
Mortgage rates are making life difficult for buyers and sellers as a result of high levels and unpredictability, says Zillow's latest market report.
Relatively high...
Black Knight Approved to Support Fannie Mae’s New Valuation Option
Black Knight Inc. says it is one of six vendors approved by Fannie Mae to support the GSE's new valuation option: Value acceptance plus...
LoanCare Launches New Division Focused on Distressed Mortgage Loans
Mortgage subservicer LoanCare has launched Velocity Servicing, an independently managed division dedicated to delivering one-stop resolution for credit sensitive mortgage loans.
The new division will...
Daily AI Rebrands to Aidium, Launches CRM Product
Mortgage CRM company Daily AI has rebranded to Aidium Mortgage CRM and is launching a revamped CRM product.
Brands previously acquired by Daily AI, Whiteboard...
Frontwave Credit Union Selects Empower to Expand and Scale Mortgage Operations
Black Knight Inc. says Frontwave Credit Union, a growing credit union serving military and civilian communities in Southern California, has signed a contract to...
Jeremy McCarty: How Valuation Technology Can Help Lenders Capitalize on HELOC Opportunities
PERSON OF THE WEEK: The rapid pace of home price appreciation over the last decade has left most homeowners sitting in an advantageous position...
Housing Starts Jumped 9.8 Percent in February as Home Builder Sentiment Brightened
Housing starts in February came in above consensus expectations, jumping 9.8% compared with January to a seasonally adjusted annual rate of 1.45 million, but...
Clear Capital Readies For Fannie Mae Appraisal Modernization Policy Changes
Real estate valuations technology firm Clear Capital has launched Universal Data Collection (UDC), a suite of products designed to support appraisal modernization.
UDC supports Fannie...
MBA: ‘Fourth-Quarter Results Were Abysmal’ for Independent Mortgage Banks
Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported a net loss of $2,812 on each loan originated in the fourth quarter...
MBA: Applications for New Home Purchases Increased in February
Applications for mortgages for new home purchases increased 4% in February compared with January and were up 1.2% compared with February 2022, according to...
AppraisalWorks Supports Fannie Mae Initiative
AppraisalWorks, a property valuation and valuation management technology provider, is supporting Fannie Mae’s Value Acceptance + Property Data framework.
The platform also offers support for...