DOJ Penalizes Mortgage Lender Ameris Bank $9 Million for Alleged Redlining
Ameris Bank will pay $9 million in penalties following a Department of Justice ruling that the mortgage lender engaged in redlining in predominately Black...
Mortgage Delinquencies Increased in September But Are Below Pre-Pandemic Levels
The national mortgage delinquency rate increased to 3.29% in September, up 12 basis points (BPS) from August and up 13 BPS from September 2022,...
National MI Expands its Integration with Mortgage Cadence
National Mortgage Insurance Corp. is now integrated with the Loan Fulfillment Center (LFC) loan origination system (LOS) platform by Mortgage Cadence, a subsidiary of...
Closed Home Sales Fall to Lowest Level Since Start of COVID
New listings climbed 1.4% month over month in September, the largest increase since February 2022 on a seasonally adjusted basis, according to a new...
Mortgage Lender Click n’ Close Hires Kara Lamphere as COO
Kara Lamphere has joined mortgage lender Click n’ Close as chief operating officer (COO).
Lamphere has more than 20 years of mortgage industry experience. Prior...
Homeowner Tenure on the Rise as Many Are Rate-Locked Into Their Homes
Due to rising mortgage rates, which are keeping many homeowners “rate-locked” in their current homes, homeownership tenure is now close to a high point...
Mortgage Rates Continue to Rise as Housing Rigor Mortis Sets In
Mortgage rates continued their upward march this week, with the average rate for a 30-year fixed-rate mortgage reaching 7.63%, up from 7.57% last week,...
Profit Margins on Home Sales Increased in the Third Quarter
Profit margins on median-priced single-family home and condo sales increased to 59% in the third quarter – the second quarter-over-quarter increase following several declines,...
All-Cash Sales Now Represent More Than a Third of Home Sales
Nationwide, all-cash purchases accounted for 36.6% of single-family home and condo sales in the third quarter, up slightly from 36.4% in the second quarter,...
Truv Consumer-Permissioned Data Platform Now Integrated With nCino Mortgage Suite
nCino’s Mortgage Suite, which enables income and employment verification for home loan applicants, is now integrated with Truv’s consumer-permissioned data platform, thus enabling faster...
Existing-Home Sales Dropped in September as Cash Buyers Represented a Third of Sales
Existing-home sales in September were at a seasonally adjusted annual rate of 3.96 million, a decrease of 2% compared with August and down 15.4%...
Down Payment Resource Nets Six More Mortgage Lenders
Six mortgage lenders signed up for Down Payment Resource’s service in September, including Elevations Credit Union, Embrace Home Loans, Homeowners Financial Group, HomeStreet Bank,...
MBA: Applications for New Home Purchases Dropped 12 Percent in September
Applications for mortgages for new home purchases dropped 12% in September compared with August but were up 14.9% compared with September 2022, according to...
Forta Solutions Launches New Warehouse Lending Platform
Fintech provider Forta Solutions has launched a new warehouse lending platform, Agility.
The new platform offers warehouse lenders unparalleled transparency, efficiency and a faster, more...
Freddie Mac Launches Tool That Matches Borrowers to Down Payment Assistance Programs
Freddie Mac has launched DPA One, a new tool to help mortgage lenders quickly find and match borrowers to down payment assistance programs nationwide.
DPA...
MBA: Share of Mortgages in Forbearance Drops Again to 0.31 Percent
The share of mortgages in forbearance decreased by 2 basis points to 0.31% of servicers’ portfolios as of September 30, according to the Mortgage...
Ever Rising Rates Push Mortgage Application Volume Even Lower
Mortgage application volume dropped 6.9% during the week ended October 13 as the average rate for a 30-year, fixed-rate mortgage increased to 7.70%, up...
Housing Starts Unexpectedly Jumped 7 Percent in September
Housing starts jumped 7% in September compared with August to a seasonally adjusted annual rate of 1.358 million, according to estimates from the U.S....
Home Builder Confidence Dropped Again in October Due to Higher Mortgage Rates
Home builder confidence in October fell to the lowest level since January due to stubbornly high mortgage rates that have climbed to a 23-year...
Tavant Introduces New AI-Powered Data Platform, Data Beats
Tavant has introduced a new AI-powered data platform, Data Beats, which is built to inform, provide insights, act, recommend and predict.
Tavant says in a...