Mortgage Applications Fell Last Week, But Purchase Activity Remains Strong
After increasing for nine consecutive weeks, purchase applications fell 3% on an adjusted basis during the week ended June 19, according to the Mortgage...
TMS, SL3 Join Forces to Aid Lenders and Service Providers
Transformational Mortgage Solutions (TMS), a management consulting firm focused on mortgage lending advisory services, and SupportLink3 (SL3), a specialized sales and marketing advisory firm,...
Average FICO Score for Closed Mortgages Continued to Rise in May
The average FICO score on all closed mortgages increased to 750 in May, up from 749 in April to reach the highest level in...
‘Unrealized Pent-Up Demand’ Causes Mortgage Applications to Jump 8%
Mortgage application volume increased 8.0% on an adjusted basis during the week ended June 12, according to the Mortgage Bankers Association's (MBA) Weekly Applications...
Applications for New Home Sales Jumped 26% in May
What pandemic?
Applications for mortgages for new home purchases increased 26% in May compared with April and were up 10.9% compared with May 2019, according...
Noerena Limón: Hispanic Housing Market Poised to Pick Up Where it Left Off
PERSON OF THE WEEK: Prior to the COVID-19 crisis, the Hispanic housing market was seeing significant year-over-year growth. According to the National Association of...
FirstClose ONE Now Sports Automated Ordering Feature
FirstClose Inc., a provider of technology solutions for banks and credit unions nationwide, recently launched automated ordering as the latest addition to its flagship...
CoreLogic’s Employment and Income Verification Solutions Now Integrated with Encompass
CoreLogic’s Verification of Employment and Income (VOE/I) solutions are now integrated with Ellie Mae’s Encompass loan origination system.
That means mortgage lenders using Ellie Mae’s...
Joe Welu: Communication with Customers All the More Critical During COVID-19 Crisis
PERSON OF THE WEEK: The COVID-19 crisis has resulted in a watershed moment for the mortgage industry in which providing a completely contactless, technology-driven,...
Mortgage Rates Held Steady This Week
Mortgage rates continued to hover near all-time lows this week. The average rate for a 30-year fixed-rate mortgage was 3.21%, up slightly from 3.18%...
Mortgage Credit Availability Tightened For Sixth Straight Month in May
As it has every month since December, mortgage credit availability continued to decrease in May, falling 3.1% compared with April to a score of...
Flagstar Hires Reginald Davis as President of Community Banking
Reginald Davis, a 35-year veteran of the banking industry, has joined Flagstar Bank as president of community banking.
Flagstar provides home loans through a wholesale...
Mortgage Bankers Saw Average Profit Per Loan Increase in Q1
Despite the economic impact of the COVID-19 crisis, which started in March, mortgage bankers reported a net gain of $1,600 on each loan they...
Michael Ferreira Returns to Guild Mortgage as Regional VP
Michael Ferreira has returned to Guild Mortgage as regional vice president, Northern California.
Ferreira previously served as a district manager for Guild Mortgage from 2013-2017.
Most...
From Forbearance to Post-Forbearance: How to Make the Process More Effective
BLOG VIEW: The world can change in an instant. At the beginning of the year, mortgage foreclosures and delinquencies were at an all-time low....
Susan Sullivan: How to Keep Remote Workers Engaged
PERSON OF THE WEEK: The COVID-19 crisis has put a serious damper on the mortgage market but recent reports show that a rebound could...
Vani Vemuganti Promoted to CFO at Credit Plus
Vani Vemuganti has been promoted to chief financial officer at Credit Plus, a provider of data and insights to the mortgage industry.
Vemuganti replaces outgoing...
Average FICO Score For a Closed Mortgage Jumped to 749 in April
Due to tightening credit caused by the coronavirus pandemic, the average FICO score for a closed mortgage in April soared to 749, up from...
Case-Shiller: U.S. Home Prices Continued to Climb in March, Despite Pandemic
U.S. home prices were largely unaffected by the coronavirus pandemic in March, rising 0.5% on an adjusted basis compared with February, according to the...
New Home Sales Increased Slightly in April
Despite the COVID-19 pandemic and subsequent economic fallout, new home sales eked out a monthly increase in April, rising 0.6% compared with March, according...