MMI Adds New Dashboards to Help Lenders Identify CRA, LMI and MMCT Opportunities
Minority homeownership is on the rise and is expected to continue to grow, as predicted by The Urban Institute. Between 2020 and 2040, there...
Homebuyer Affordability Continued to Erode in August
Homebuyer affordability decreased in August, as the national median payment applied for by purchase applicants increased to $2,170, up from $2,162 in July, according...
Freddie Mac: 30-Year Fixed-Rate Mortgage Hits Highest Level in 23 Years
The average rate for a 30-year fixed-rate mortgage increased to 7.31% this week, up from 7.19% last week to reach the highest level in...
Pending Home Sales Dropped 7.1 Percent in August
Dragged down by higher mortgage interest rates and lack of inventory, pending home sales fell 7.1% in August compared with July and were down...
CoreLogic: Solid Mortgage Performance Continues in July
CoreLogic has released its monthly Loan Performance Insights Report for July 2023 revealing delinquency and foreclosure activity (first liens only against a property).
For the...
U.S. Housing Value Skyrockets, Up $2.6 Trillion
A new analysis from Zillow shows the housing market has rebounded impressively in 2023 after a short-lived downturn late last year. The total value...
Frost Progress Loans Allow Greater Access to Credit in Texas
Homeowners and prospective homebuyers of modest means in the Lone Star State have some new options for more affordable borrowing, even in the current...
Blend Income Helps Verify Assets, Employment Earlier in Process
Blend, a provider of cloud banking services, has added Assets-Derived Income to its existing Blend Income product. Blend Income is now integrated with Freddie...
Acra, Tavant Collaborate on Digital Solutions, Non-QM Lending
Tavant, a Silicon Valley-based provider of digital lending solutions, and Acra Lending, a private mortgage lender headquartered in California, have integrated Acra Lending’s digital...
Dovenmuehle Mortgage Taps Robert Howerton as CIO
Robert Howerton has joined Dovenmuehle Mortgage, a mortgage subservicing company, as chief information officer.
Howerton has more than 20 years of IT experience, including an...
Fannie Mae Continues Efforts to Close Latino Homeownership Gap
According to a recent study conducted by the Urban Institute, 70% of net-new homeowners between 2020 and 2040 will be Hispanic/Latino, and this demographic...
Ocrolus Dashboard Upgrade Eases Mortgage Lending Workflow
Ocrolus, a company specializing in AI-driven financial document automation, has launched an enhanced dashboard for mortgage lenders, featuring the ability to automate income calculations...
Case-Shiller: Home Prices Continued to Rise in July, Providing Optimism
U.S. home prices increased 0.6% in July compared with June, flying in the face of higher mortgage rates and driven by a severe lack...
Mutual of Omaha Mortgage Renews Subservicing Deal with Celink
Celink, a national reverse mortgage subservicer with headquarters in Texas and Michigan, recently executed a multi-year contract renewal with Mutual of Omaha Mortgage, the...
Mortgage Applications Fall as Rates Move to Highest Level in 20 Years
Mortgage application volume fell 1.3% during the week ended September 22, as the average rate for a 30-year, fixed-rate mortgage increased to 7.41%, the...
New Home Sales Plummeted in August as Mortgage Rates Continued to Rise
New home sales dropped 8.7% in August compared with July, as the average rate for a 30-year fixed-rate mortgage hovered at around 7.2%, according...
Freddie Mac Auctions Off $586 Million in NPLS
Freddie Mac has sold via auction 3,564 non-performing residential first lien loans (NPLs) from its mortgage-related investments portfolio. Specialized Loan Servicing LLC, Select Portfolio...
Clear Capital, LenderX Team to Mitigate Errors Contributing to Loan Repurchases
Loan repurchases increased from $1.1 billion in 2020 to $2.1 billion in 2022, according to a recent report from Sterling Point - and errors...
SitusAMC Brings ProMerit Warehouse Lending System Into the Cloud
Software firm SitusAMC reports that its warehouse lending system, ProMerit, is now accessible through a cloud-hosted, software-as-a-service (SaaS) platform.
The new functionality significantly enhances client...
Ginnie Mae Modifies Eligibility Requisites for HMBS Pooling
Ginnie Mae has revised its Home Equity Conversion Mortgage (HECM) Mortgage-Backed Securities (HMBS) requirements to allow securitization of multiple participations related to a particular...