TransUnion: Americans Racked Up Record Debt in Q3
Due to high interest rates and higher-than-expected costs for goods, Americans are taking on more credit card debt, according to TransUnion’s Q3 2023 Quarterly...
Housing Affordability Fell to its Lowest Level in More Than a Decade in Q3
Mortgage rates above 7%, elevated construction costs and limited existing inventory helped push housing affordability to its lowest level in more than a decade...
Mortgage Machine Services Adds Crystal Stanton to Manage Customer Success
Crystal Stanton has joined mortgage origination software provider Mortgage Machine Services to manage customer success and onboarding.
Stanton has more than 20 years of customer...
Cloudvirga Completes Final Certification for Full Integration with Optimal Blue
Cloudvirga, a provider of digital mortgage point-of-sale platforms, reports that it has completed final certification for full API integration with the Optimal Blue product,...
Mortgage Rates See Biggest Weekly Drop in a Year
Mortgage rates dropped this week, with the average rate for a 30-year fixed-rate mortgage falling to 7.5%, down from 7.76% last week, according to...
Mortgage Fintech Lower Hires Amir Syed as Chief Growth Officer
Amir Syed has joined mortgage fintech Lower as chief growth officer.
"The atmosphere is ecstatic with Amir joining the Lower Family of Companies," says Mike...
Homebuyer Assistance Programs Flourishing in This Difficult Housing Market
Down Payment Resource (DPR), offering homebuyer assistance program data and solutions, reports that homebuyer assistance program administrators are responding to the mounting home affordability...
Dovenmuehle Mortgage Adds New Features to Improve Transparency and Communication
Mortgage subservicing company Dovenmuehle Mortgage has released two new features that provide transparency and improve communication through the company's borrower-facing web and mobile applications.
With...
Mortgage Applications Up Slightly After 30-Year Drops 25 Basis Points
Mortgage application volume increased 2.5% during the week ended November 3, as the average rate for a 30-year fixed-rate mortgage dropped to 7.61%, down...
Three Quarters of U.S. Consumers Think the Economy is on the ‘Wrong Track’
More than three quarters of consumers surveyed in Fannie Mae’s October Home Purchase Sentiment Index think the U.S. economy is on the “wrong track,”...
Westcor Land Title Insurance Co. Adds Ward Graham as Underwriting Counsel
Ward Graham has joined Westcor Land Title Insurance Company as underwriting counsel in the New England region.
“I am thrilled to have Ward Graham, one of...
U.S. Homeowner Equity Hit $16.4 Trillion in Q3
U.S. homeowners collectively had $16.4 trillion in home equity as of the third quarter - $10.6 trillion of which is available to borrow against...
ICE: U.S. Housing Market is the Least Affordable Since 1984
For the past three decades, the principal and interest (P&I) payment needed to purchase a median-priced home averaged at around 25% of the median...
The Closing Exchange Now Integrated With Simplifile eSign Events from ICE Mortgage Technology
The Closing Exchange (TCX), which offers closing technology, AI document processing, mobile closing, and remote online notarization services, has announced a new integration with...
CondoTek and MGIC Launch New Condominium Compliance Solution
CondoTek and Mortgage Guaranty Insurance Corporation (MGIC) have launched a new All-In-One Condominium Compliance solution available through CondoTek.
CondoTek’s Condo Project Warrant (CPW) will now...
MCT: Mortgage Rate Lock Volume Dropped Again in October With No Recovery in Sight
Mortgage rate lock volume dropped 17.76% in October compared with September according to hedge advisory and secondary marketing software firm Mortgage Capital Trading (MCT).
Loan...
BLS: Job Growth Slowed in October
Job growth slowed in October as the unemployment rate increased slightly to 3.9%, according to the U.S. Bureau of Labor Statistics.
The economy generated 150,000...
CoreLogic Adds More Options to its AutomatIQ Borrower Verification Solution
CoreLogic has updated its AutomatIQ Borrower VOE/I borrower verification solution with new capabilities.
The solution now offers a combination of four different verification options, enabling...
Luminate Home Loans Using Cloudvirga’s Wholesale Platform
Luminate Home Loans is using the Cloudvirga Horizon Wholesale Platform to optimize efficiency within its wholesale mortgage division.
By implementing the Horizon Wholesale platform, Luminate’s...
Mortgage Rates Flattened This Week
Mortgage rates were basically flat this week, as the average rate for a 30-year fixed-rate mortgage dropped slightly to 7.76%, down 7.79% last week,...