KeyBank Neighbors First Credit Clears Path to Home
KeyBank has launched its third Special Purpose Credit Program – KeyBank Neighbors First Credit – which facilitates homeownership by providing up to $5,000 to...
Mortgage Applications Fell as Rates Hit New Highs Last Week
Mortgage application volume decreased 4.4% on an adjusted basis during the week ended June 30, as the average rate for a 30-year fixed-rate mortgage...
Mortgage Rates Continue Their Upward Trajectory
Mortgage rates increased for a second straight week, with the average rate for a 30-year fixed-rate mortgage rising to 6.81%, up from 6.71% last...
Home Prices Moderating Yet Many Markets Still Overvalued
According to a study by researchers at Florida Atlantic University (FAU) and Florida International University (FIU), even if housing prices are starting to stabilize...
Valligent Integration with ICE Mortgage Technology Ups Valuation Options
Valligent, an appraisal management company, recently acquired by Veros, a company focusing on enterprise risk management and collateral valuation services, has integrated with the...
Redfin: Average U.S. Home Sells Above Asking Price in June
A new report from Redfin shows the average sale-to-list price ratio of a home hit 100.1% during the four weeks ending July 2. Specifically,...
CoreLogic: Mortgage Loan Performance Remains Strong
Mortgage loan performance continued to hold strong in April, with just 2.8% of all mortgages in some stage of delinquency (30 days or more...
MBA: Homebuyer Affordability Took Another Hit in May
Data from the Mortgage Bankers Association's (MBA) Purchase Applications Payment Index (PAPI) indicate that homebuyer affordability declined further in May, with the national median...
ACI Penalized for Unlawful Mortgage Payment Processing
The Consumer Financial Protection Bureau (CFPB) has issued an order against ACI Worldwide and one of its subsidiaries, ACI Payments, for improperly initiating approximately...
FFIEC Releases 2022 Mortgage Market Activity Stats
According to the Federal Financial Institutions Examination Council (FFIEC), data is now available on 2022 mortgage lending transactions reported under the Home Mortgage Disclosure...
Invesco Fund Offers Access to Private Real Estate Credit
Invesco Real Estate has established Invesco Commercial Real Estate Finance Trust Inc. (INCREF), a private fund focused on bringing private real estate credit to...
Fifth Fannie Mae CAS REMIC Deal Priced at $738 Million
Fannie Mae has priced Connecticut Avenue Securities (CAS) Series 2023-R05 – an approximately $738 million note offering that represents Fannie Mae's fifth CAS REMIC...
NewDay USA Lauded for Tough Data Security Measures
NewDay USA, a VA mortgage company, has achieved ISO/IEC 27001:2013 certification, recognizing its commitment to the highest level of information security.
Following a comprehensive preparation...
Pending Home Sales Dipped in May But Housing Market Remains Resilient
Pending home sales decreased 2.7% in May compared with April and were down 22.2% compared with May 2022, according to the National Association of...
More Home Buyers Than Sellers Keeping Market Tight
A new report from Redfin states that the typical home in the United States is selling for roughly $383,000, only about $4,000 less (-1%)...
DocMagic, Finastra Pair Up to Accelerate Mortgage Closings
DocMagic Inc., a company specializing in loan document generation and e-ortgage services, has integrated its Total eClose platform with Finastra's MortgagebotLOS solution, simplifying the...
Reena Agrawal: How AVMs Can Promote More Equitable Home Valuations
PERSON OF THE WEEK: Minority communities are facing significant hurdles in their quest to build equity and accumulate wealth when it comes to access...
Mortgage Applications Increased 3 Percent Last Week, Driven Mostly by New Home Sales
Mortgage application volume increased 3% during the week ended June 23, as the average rate for a 30-year fixed rate mortgage increased slightly to...
Case-Shiller: U.S. Home Prices Increased 0.5 Percent in April, Buoyed by Low Inventory
U.S. home prices increased 0.5% on an adjusted basis in April compared with March but were down 0.2% compared with April 2022, according to...
TPT, WMC Merge to Form REIT with $1.2 Billion in Assets
Terra Property Trust (TPT) Inc. and Western Asset Mortgage Capital Corporation (WMC) have entered into a definitive merger agreement to form a real estate...