Are Lenders Prepared For Potential Wave of HELOCs?
BLOG VIEW: If your institution provides home equity lines of credit (HELOC)s, now is the time to be proactive, not reactive. Due to the...
Mortgage Rates Fell This Week as States Began to Reopen
After ticking up slightly the previous two weeks, mortgage rates fell during the week ended May 21, with the average rate for a 30-year...
Existing-Home Sales in April Plummet to Lowest Levels Since 2010
Due to the coronavirus pandemic, existing-home sales fell 17.8% in April compared with March and were down 17.2% compared with April 2019, according to...
Grant McFarland: Why Lenders Must Invest in Employee Professional Development
PERSON OF THE WEEK: In the mortgage origination business, keeping employees motivated and engaged with their jobs is critical to a lender’s success.
So what...
Purchase Applications Rise for a Fifth Straight Week
Purchase applications increased for a fifth straight week, rising 6% on an adjusted basis compared with the previous week but down 1.5% compared with...
Housing Starts Fell 30% in April But Are Expected to Rebound
Due to the coronavirus pandemic and subsequent social distancing constraints, housing starts tumbled in April, falling 30.2% compared with March, according to the U.S....
Mitigating Portfolio Risk and Increasing Operational Efficiency During Economic Volatility
BLOG VIEW: Navigating the current market environment is posing challenges for all industries. In the case of mortgage servicers, the focus must now be...
MBA: Share of Mortgages in Forbearance Plans Now Exceeds 8%
More than 8% of mortgages are now in COVID-19-related forbearance plans, according to the Mortgage Bankers Association.
The MBA’s latest Forbearance and Call Volume Survey...
Applications For New Home Purchases Plummeted in April
Applications for mortgages for new home purchases tumbled 25% in April in Compared with March and were down 12% compared with April 2019, according...
Plaza Home Mortgage Taps Kelley Tillinghast as SVP and Chief Underwriter
Kelley Tillinghast has joined wholesale and correspondent mortgage lender Plaza Home Mortgage Inc. as senior vice president, chief underwriter.
Tillinghast has more than 20 years...
Mortgage Rates Edge Up From All-Time Lows
Mortgage rates edged up slightly for a second week but remain near all-time lows.
For the week ended May 14, the average rate for a...
Slowing Technology Churn Begins with Understanding the Borrower Experience
PERSON OF THE WEEK: A mere 17% of consumers return to the same lender to originate or refinance their next mortgage, reports the Mortgage...
In Your Face, Coronavirus: Applications For Purchases Continue to Increase
With mortgage rates still hovering near all-time lows and more than half the country still in lockdown, one would expect to see applications for...
Share of Mortgages in Forbearance Reaches Nearly 8 Percent
The share of mortgages in forbearance plans as of May 3 had grown to 7.91% - or nearly 4 million loans - according to...
Planet Home Lending Announces Three New SVPs
Mike Eckrote has joined Planet Home Lending, a national lender and servicer, as senior vice president (SVP) of quality control (QC).
In addition, Christopher Joles...
Building Relationship Currency: A Loan Officer’s Guide to Becoming a Mentor, Counselor and Strategist
BLOG VIEW: Fear and uncertainty - these are the buzzwords defining the mortgage industry and the world at large right now. As mortgage and...
Unemployment Hit 14.7% in April, More Than 20 Million Jobs Lost
More than 20.5 million U.S. jobs were lost in April due to the coronavirus pandemic, driving the unemployment rate up to 14.7%, the highest...
Mortgage Credit Tightens Due to Fallout From COVID-19 Crisis
Mortgage credit availability plummeted in April, falling 12.2% to a score of 133.5 on the Mortgage Bankers Association’s (MBA) Mortgage Credit Availability Index (MCAI).
Credit...
Mortgage Rates Inch Up Slightly
Mortgage rates edged up this week but remain near historical lows.
The average rate for a 30-year fixed-rate mortgage was 3.26%, up from 3.23% last...
Camillo Melchiorre: COVID-19 Crisis is ‘Horrific Scenario’ for Mortgage Servicers
PERSON OF THE WEEK: The COVID-19 crisis and subsequent passage of the CARES Act has resulted in a deluge of mortgage forbearance requests that...