MISMO Explores Market Need and Standards for ESG Initiatives
MISMO, the real estate finance industry's standards organization, is creating a new Community of Practice (CoP) focused on exploring potential standards for Environmental, Social...
Freddie Mac Reports Small Changes in Mortgage Rates
The results of Freddie Mac’s Primary Mortgage Market Survey are showing that the 30-year fixed-rate mortgage (FRM) averaged 2.80 percent.
“As the economy works to...
Home Sale Profits Remain High with Unusual Fall in Q2 2021
ATTOM’s Q2 2021 U.S. Home Sales Report shows that profit margins for home sellers took an unusual dip in the second quarter but still...
Gizem Lanphar: The Big Tech Giants Have ‘Paved the Way’ to Current Borrower Expectations
The shift to an all-digital, online and “contactless” mortgage process - propelled by the pandemic - has forever altered borrowers’ expectations.
While there will always...
Credit Applications Mostly Up to Pre-Pandemic Levels
The Consumer Financial Protection Bureau has published an issue brief showing that consumer applications for new mortgages, auto loans and revolving credit cards had...
Peculiar Things About Mortgage Compliance That Title Agents Must Know
BLOG VIEW: Mortgage title issues can prove to be a significant cost to a lender and/or servicer irrespective of whether the loan is insured.
Lenders...
Home Prices in May Saw Largest Annual Increase in More Than 30 Years
U.S. home prices in May increased 1.7% on an adjusted basis compared with April and were up a whopping 16.6% compared with May 2020,...
Share of Mortgage Loans in Forbearance Decreases
The Mortgage Bankers Association's (MBA) latest Forbearance and Call Volume Survey revealed that the total number of loans now in forbearance decreased by 2...
FinLocker and eCredable Team to Help the ‘Credit Invisible’ Establish Credit
FinLocker and eCredable have joined forces to create eCredable LiftLocker, a program designed to help the “credit invisible” establish credit, thus paving the path to...
The White House’s Latest Actions Focus on Foreclosure Prevention
Shortly after taking office, the Biden-Harris administration extended the foreclosure moratorium and mortgage forbearance enrollment period for homeowners with government-backed mortgages to provide relief...
Matt Young: How COVID-19 Impacted Field Sales
PERSON OF THE WEEK: The last year and a half has been a challenge for many workers in the mortgage industry. Across the board,...
Mortgage Rates Continued to Drop This Week
Mortgage rates continued to trend down this week, with the average rate for a 30-year falling to 2.78%, down 10 basis points from 2.88%...
Existing-Home Sales Increased in June
After decreasing for four consecutive months, existing-home sales increased 1.4% in June compared with May and were up 22.9% compared with May 2020 according...
Covius Document Solutions Now Being Used by New American Funding for Default Servicing
New American Funding has implemented Covius Document Solutions for its default servicing operations.
Specifically, New American will use Covius’ 50-state template library and on-demand printing...
Mr. Cooper Makes Executive-Level Personnel Moves
Mr. Cooper Group Inc. has named Shawn Stone executive vice president and chief revenue officer, as well as promoted Jay Jones to executive vice...
Tavant Offering New AI-Powered Lending-as-a-Service Platform
Digital lending solutions provider Tavant has introduced its new Touchless Lending platform, an AI-powered lending-as-a-service platform that maximizes the use of data-driven processes to...
Mortgage Applications Dropped 4 Percent Last Week
Mortgage application volume decreased 4.0% on an adjusted basis during the week ended July 16, as the average rate for a 30-year increased to...
Applications for New Home Purchases Plummet Because There Are Fewer New Homes to Buy
Applications for mortgages for new home purchases dropped 3% in May compared with April and were down 23.8% compared with May 2020, due to...
Madhavi Sabnis: Today’s AI-Driven Mortgage Platforms Require Employee Training
PERSON OF THE WEEK: Artificial intelligence and machine learning hold great promise for delivering a completely seamless, all-digital mortgage experience. In fact, today’s top...
Deephaven Looks to Increase Partners’ Non-Agency Lending Opportunities
Non-agency lender Deephaven has announced new income qualification options that are designed to enable brokers and correspondents to compete for more credit-worthy borrowers who...