Mortgage Applications Increased Slightly Last Week Driven by a Bump in Purchase Apps
Total mortgage application volume increased 0.2% on an adjusted basis during the week ended November 21, as rates crept up, according to the Mortgage...
Pending Home Sales Increased in October But Regional Differences Were Notable
Pending home sales increased 1.9% in October compared with September but were down 0.4% compared with October 2024, according to the National Association of...
Kayla Eames: AI Will Transform Mortgage Underwriting
PERSON OF THE WEEK: AI-powered software solutions are seeing increased adoption across the mortgage industry, as lenders and servicers see the operational gains from...
DocMagic Adds IPEN Capability to Total eClose Platform
Document management software company DocMagic has enhanced its Total eClose platform with a new in-person electronic notarization (IPEN) capability for broader digital closing flexibility.
The...
Lake Michigan Credit Union Now Using FirstClose’s Equity Order Management
Lake Michigan Credit Union (LMCU), the largest credit union in Michigan and one of the largest in the nation, has implemented FirstClose's Equity Order...
Mortgage Rates Still Stuck in the Same Narrow Range
Mortgage rates were basically flat this week with the average rate for a 30-year hovering around 6.26%, up slightly from last week when it...
Existing-Home Sales Increased 1.2 Percent in October, Boosted by Lower Rates
Existing-home sales increased 1.2% in October compared with September and were up 1.7% compared with October 2024, according to the National Association of Realtors...
Mortgage Bankers Saw Net Profits Increase in Q3
Mortgage bankers saw a pre-tax net production profit of $1,201 on each loan they originated in the third quarter, up from $950 per loan...
MBA: Mortgage Delinquency Rate Increased in Q3, ‘Led by Worsening FHA Loan Performance’
The national delinquency rate for mortgage loans on one-to-four-unit residential properties increased to 3.99% at the end of the third quarter, according to the...
Mortgage Applications Fell Last Week as Rates Continued to Rise
Mortgage application volume decreased 5.2% on an adjusted basis during the week ended November 14, as rates increased, according to the Mortgage Bankers Association’s...
Westcor Promotes Angela Fling to SVP, Central Area Manager
Angela Fling has been promoted to senior vice president, central area manager, at Westcor Land Title Insurance Company.
Fling discovered her passion for the title...
NAR: U.S. Home Prices Increased 1.7 Percent in Q3
U.S. home prices increased 1.7% in the third quarter, with the median national home price rising to $426,800, according to the National Association of...
Cotality: Mortgage Application Fraud Risk Increased in Q3
Mortgage fraud risk increased 8.2% year-over-year in the third quarter, with an estimated 1 in 118 mortgage applications showing indications of fraud, according to...
Refinance Complexity Boosted Rate of Critical Defects in Mortgages in Q2
The rate of critical defects in mortgage loans post-closing was 1.51% in the second quarter, an increase of 15.27% compared with 1.31% in the...
Rice Park Capital Acquires Rosegate Mortgage
Investment firm Rice Park Capital Management, specializing in mortgage servicing rights (MSRs), has acquired Rosegate Mortgage, retail and consumer-direct mortgage lender headquartered in Charlotte,...
Applications for New Home Purchases Dipped in October But Remain at Healthy Levels
Applications for mortgages for new home purchases decreased 1% in October compared with September and were down 2.6% on an unadjusted basis compared with...
Nationwide Mortgage Bankers Taps Traci Harding as EVP of Credit Risk and Product Development
Traci Harding recently joined Nationwide Mortgage Bankers Inc. (NMB) as executive vice president of credit risk and product development.
Harding has more than 25 years...
Mortgage Rates Basically Flat This Past Week But Purchase Activity is On the Rise
Mortgage rates inched up slightly this week, with the average rate for a 30-year fixed-rate mortgage at 6.24%, up from 6.22% last week, according...
nCino Helps Boston-based Eastern Bank Deliver a Connected Lending Experience
Boston-based Eastern Bank is using software firm nCino to deliver a connected lending experience to its customers.
The bank has unified multiple legacy systems onto...
Mortgage Applications Up Slightly Last Week Despite Rising Rates
Mortgage application volume increased 0.6% during the week ended November 7, as rates increased slightly, according to the Mortgage Bankers Association’s (MBA) Weekly Applications...