MMI Adds New Dashboards to Help Lenders Identify CRA, LMI and MMCT Opportunities
Minority homeownership is on the rise and is expected to continue to grow, as predicted by The Urban Institute. Between 2020 and 2040, there...
Homebuyer Affordability Continued to Erode in August
Homebuyer affordability decreased in August, as the national median payment applied for by purchase applicants increased to $2,170, up from $2,162 in July, according...
Freddie Mac: 30-Year Fixed-Rate Mortgage Hits Highest Level in 23 Years
The average rate for a 30-year fixed-rate mortgage increased to 7.31% this week, up from 7.19% last week to reach the highest level in...
Pending Home Sales Dropped 7.1 Percent in August
Dragged down by higher mortgage interest rates and lack of inventory, pending home sales fell 7.1% in August compared with July and were down...
Case-Shiller: Home Prices Continued to Rise in July, Providing Optimism
U.S. home prices increased 0.6% in July compared with June, flying in the face of higher mortgage rates and driven by a severe lack...
Mortgage Applications Fall as Rates Move to Highest Level in 20 Years
Mortgage application volume fell 1.3% during the week ended September 22, as the average rate for a 30-year, fixed-rate mortgage increased to 7.41%, the...
New Home Sales Plummeted in August as Mortgage Rates Continued to Rise
New home sales dropped 8.7% in August compared with July, as the average rate for a 30-year fixed-rate mortgage hovered at around 7.2%, according...
SitusAMC Brings ProMerit Warehouse Lending System Into the Cloud
Software firm SitusAMC reports that its warehouse lending system, ProMerit, is now accessible through a cloud-hosted, software-as-a-service (SaaS) platform.
The new functionality significantly enhances client...
Mortgage Machine, a New LOS Developed by Jeff Bode, is Launched
Mortgage Machine Services, offering origination technology to residential mortgage lenders, has announced the launch of its namesake platform, Mortgage Machine.
Mortgage Machine is an out-of-the-box,...
Floify Adds Income and Employment Verification Waterfall Feature to its Platform
Floify, a point-of-sale solution provider to the mortgage industry and subsidiary of Porch Group, has launched an income and employment verification solution that will...
Mohammad Rashid: AI and Big Data are Revolutionizing Mortgage Lending, But Will They Reduce...
PERSON OF THE WEEK: Artificial intelligence and big data hold great promise for the mortgage lending industry. As lenders implement new and advanced AI-powered...
ACES: Rate of Critical Defects in Mortgage Loans Decreased in Q1
The rate of critical defects in mortgage loans post closing decreased by 3.26% in the first quarter, ending the quarter at an overall rate...
Refis Inexplicably Jumped 13 Percent Despite 30-Year Edging Back Up
Mortgage application volume increased 5.4% during the week ended September 15, as the average rate for a 30-year fixed-rate mortgage increased to 7.31%, up...
NAR: Existing-Home Sales Dipped in August as Mortgage Rates Continued to Rise
Existing-home sales decreased 0.7% in August compared with July, according to the National Association of Realtors (NAR), and were down 15.3% compared with August...
Mortgage Lender Click n’ Close Announces Two Key Hires
Ken Weislak has joined Click n' Close, a multi-state mortgage lender serving consumers and mortgage originators through its wholesale and correspondent channels, as business...
Freddie Mac Integrates HomeCoach Tool with IndiSoft’s HomePrep
IndiSoft, a software development and product company based in Columbia, Md., has integrated Freddie Mac’s HomeCoach mortgage-readiness assessment tool for HUD-approved housing counselors (HCAs)...
Oldest City in Georgia Gets New Branch of Silverton Mortgage
Silverton Mortgage, a direct residential mortgage lender headquartered in Atlanta and licensed in 46 states, continues to expand into new markets with the opening...
Alterra Home Loans Promotes Fernando Ospina to President
Fernando Ospina has been named president of Alterra Home Loans, an independent mortgage bank and a Panorama Mortgage Group company, headquartered in Nevada.
Ospina joined...
Housing Starts Dropped in August as Mortgage Rates Soared
Housing starts dropped in August as mortgage rates hit new highs and affordability eroded for first-time homebuyers.
According to estimates from the U.S. Census Bureau...
Fannie Mae ESR Group: Modest Economic Contraction Likely
As underlying inflation decelerates and the labor market shows signs of cooling, the central question for economists remains whether the economy is headed for...