Open Mortgage Launches Reverse Mortgage Wholesale Operation Using RV Exchange
Open Mortgage is the latest lender to sign up for ReverseVision's RV Exchange (RVX) loan origination software.
The Texas-based mortgage lender recently launched a reverse...
FHFA: U.S. Home Prices Increased 1.3% In Q1
U.S. home prices increased 1.3% in the first quarter compared with the fourth quarter of 2015 and increased 5.7% compared with the first quarter of 2015...
MBA: Mortgage Applications Increased 2.3%, Purchase Apps Up 5%
Mortgage application volume increased 2.3% during the week ended May 20, according to the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey.
Applications for refinances...
MRG Teams With Land Gorilla To Make Construction Lending Simpler
The Mortgage Resources Group (MRG), offering mortgage document preparation software and legal compliance, has teamed up with Land Gorilla, offering risk management solutions for...
Sekits Capital Invests In InSellerate
Sekits Capital - a Manhattan Beach, Calif.-based investor in rapidly growing financial services, financial technology and digital consumer services businesses - has made a significant investment...
First American Launches Inaugural Real House Price Index
U.S. home prices were flat in March compared with February but increased 2.1% compared with March 2015, according to First American Financial Corp.'s inaugural...
April New Home Sales Strongest Since January 2008
New home sales as of the end of April were at a seasonally adjusted annual rate of about 619,000, an increase of 16.6% compared...
Appeals Court Overturns $1.27B Penalty Brought Against Bank Of America
The Second U.S. Circuit Court of Appeals in New York ruled that there was insufficient proof, under federal fraud statutes, to show that Countrywide intentionally set out to defraud Fannie and Freddie and investors.
United Wholesale Mortgage Introduces New Jumbo Elite Program
United Wholesale Mortgage (UWM) has launched a new Jumbo Elite program that it says will enable mortgage brokers to offer their borrowers one of...
Are Consumers ‘Self-Sidelining’ From Home Purchase Market?
If credit underwriting has tightened, then why have denial rates decreased?
It’s an interesting question with a fairly simple answer: Denial rates have decreased because...
Ellie Mae: Average Time To Close Flat At 44 Days
Refinances fell to 40% of all closed loans flowing through Ellie Mae's origination software during April - down from 45% in March - while...
Existing-Home Sales Increased 1.7% In April, Affordability Remains An Issue
Driven mainly by a surge in sales in the Midwest and a decent increase in the Northeast, existing-home sales reached an adjusted annual rate...
Guild Mortgage Vows To Fight DOJ Complaint Alleging It Improperly Underwrote FHA Mortgages
“It is unfortunate that lenders such as Guild have been placed in this untenable position where any minor error could result in substantial financial penalties.”
Freddie Mac: Mortgage Rates Held Flat, But Next Week Could Be Different
Mortgage rates were more or less flat during the week ended May 19, according to Freddie Mac's Primary Mortgage Market Survey.
The average rate for...
FOMC: June Rate Hike Likely If Economy Keeps Improving
During its most recent meeting in April, the Federal Open Market Committee (FOMC) voted to take no action on short-term interest rates, leaving them...
FHA Seeks To Further Strengthen Its Reverse Mortgage Program
The Federal Housing Administration (FHA) is seeking feedback on a set of proposed measures that will further strengthen its Home Equity Conversion Mortgage (HECM)...
Concord Mortgage Group Using ReverseVision For Its HECM Program
Concord Mortgage Group, a full-service mortgage banker serving the needs of home buyers throughout the state of Ohio and beyond, is now using ReverseVision's...
OpenClose Partners With MCT To Streamline Loan Sales
Loan origination system (LOS) provider OpenClose has teamed up with Mortgage Capital Trading Inc. (MCT) to develop a solution that normalizes and extracts a...
RealtyTrac: Mortgage Refinances Down 20% Year Over Year In Q1
About 1.4 million residential mortgages (purchases and refinances) were originated in the U.S. in the first quarter of this year - a decrease of...
MBA: Mortgage Application Volume Dipped As Rates Stayed Flat
Total mortgage application volume decreased 1.6% during the week ended May 13, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey.
Applications for...