New Home Sales Plummeted 16.6 Percent in April as Mortgage Interest Rates Surged Upward
New home sales tanked in April, falling 16.6% compared with March and 26.9% compared with April 2021, as mortgage interest rates increased and home...
Why a Better Services Strategy Solves a Lender’s Inefficiency Problem
The resounding message at the Mortgage Bankers Association (MBA) Secondary Marketing Conference echoed what we heard loud and clear at this spring’s MBA Tech...
DocMagic Platform Earns MISMO eMortgage Technology Certifications
DocMagic Inc., a provider of compliant loan document generation, automated regulatory compliance and comprehensive eMortgage services, has attained MISMO’s eClosing System and remote online...
Independent Mortgage Banks Experience Production Profit Decrease in Q1 2022
Independent mortgage banks (IMB) and mortgage subsidiaries of chartered banks reported a net gain of $223 on each loan they originated in the first...
Vesta, Asurity Extend Seamless Compliance Monitoring, Verification to Lenders
Under a new partnership, lenders using Vesta’s loan origination platform will be able to seamlessly access real-time compliance monitoring and verify compliance with all...
Lenders One Integrates Snapdocs Digital Closing Technology
Lenders One, a national alliance of more than 250 banks, credit unions and independent mortgage bankers, has added Snapdocs Inc.’s digital closing platform as...
Gene Shibata: Don’t Let Operational KPIs Fall Behind
PERSON OF THE WEEK: Now that pandemic-related foreclosure protections are coming to an end - and with the U.S. economy sputtering due to massive...
Igor Simkin Leads StoicLane’s Concordia Group Holdings as CEO
StoicLane, a long-term growth platform making strategic acquisitions to support digitizing finance, insurance and real estate verticals (FIRE), has named Igor Simkin as CEO...
Cenlar Chooses Steven Taylor as CIO to Further Technology Efforts
Cenlar FSB, a mortgage loan subservicer and federally chartered wholesale bank, has brought in Steven Taylor as senior vice president and chief information officer...
Longbridge Financial Appoints Bill Packer as COO
Longbridge Financial LLC, a national reverse mortgage loan originator and servicer, has named Bill Packer, former COO and director of American Financial Resources, is...
Sales for Existing Homes Decrease by 2.4 Percent in April 2022
Existing-home sales recorded a third straight month of declines, slipping slightly in April, according to the National Association of Realtors. Month-over-month sales were split...
Fannie Mae Executes Fifth CIRT Transaction for $21 Billion
Fannie Mae has executed its fifth Credit Insurance Risk Transfer (CIRT) transaction of 2022. As part of Fannie Mae's ongoing effort to reduce taxpayer...
Redfin Reports Slowing Demand, More Sellers Coming to Market
Homebuyers may finally start to notice signs that the market is shifting toward their favor, as more sellers came to the market during the...
Housing Starts Dipped in April as Headwinds Slowed Production
Housing starts in April were at a seasonally adjusted annual rate of 1.724 million, a decrease of 0.2% compared with March but an increase...
MBA: New Home Purchase Applications Dropped Over 10 Percent in April
The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for April 2022 shows mortgage applications for new home purchases decreased 10.6% compared to...
Mortgage Rates Averaged 5.5 Percent Compared to 3 Percent Last Year
Freddie Mac’s Primary Mortgage Market Survey (PMMS) results show that the 30-year fixed-rate mortgage (FRM) averaged 5.25% with an average 0.9 point as of...
Rising Rates, Continued Inflation Expected to Slow Housing Activity
Persistent inflation, rising interest rates and a slowdown of global economic growth are the primary contributing factors to updated expectations that full-year 2022 real...
Ocwen Financial Chooses Sean O’Neil to Head Global Financial Efforts as CFO
Ocwen Financial Corp., a non-bank mortgage servicer and originator, has appointed Sean O’Neil as executive vice president and CFO, effective June 13.
O’Neil will be...
Embrace Home Loans Taps Mehdi Pirzadeh as Senior Loan Officer, VP
Mehdi Pirzadeh has re-joined Embrace Home Loans as senior loan officer and vice president in the company’s Rockville, Md., office.
Pirzadeh is a top-producing loan...
Cherry Creek Mortgage Adds Rick Hogle as Chief Revenue Officer
Rick Hogle has joined Cherry Creek Mortgage, a nationwide, full-service mortgage lender, as chief revenue officer.
Hogle brings a breadth of experience, proven leadership and...