Profit Margins on Home Sales Increased in the Third Quarter
Profit margins on median-priced single-family home and condo sales increased to 59% in the third quarter – the second quarter-over-quarter increase following several declines,...
All-Cash Sales Now Represent More Than a Third of Home Sales
Nationwide, all-cash purchases accounted for 36.6% of single-family home and condo sales in the third quarter, up slightly from 36.4% in the second quarter,...
Truv Consumer-Permissioned Data Platform Now Integrated With nCino Mortgage Suite
nCino’s Mortgage Suite, which enables income and employment verification for home loan applicants, is now integrated with Truv’s consumer-permissioned data platform, thus enabling faster...
Existing-Home Sales Dropped in September as Cash Buyers Represented a Third of Sales
Existing-home sales in September were at a seasonally adjusted annual rate of 3.96 million, a decrease of 2% compared with August and down 15.4%...
Down Payment Resource Nets Six More Mortgage Lenders
Six mortgage lenders signed up for Down Payment Resource’s service in September, including Elevations Credit Union, Embrace Home Loans, Homeowners Financial Group, HomeStreet Bank,...
MBA: Applications for New Home Purchases Dropped 12 Percent in September
Applications for mortgages for new home purchases dropped 12% in September compared with August but were up 14.9% compared with September 2022, according to...
Forta Solutions Launches New Warehouse Lending Platform
Fintech provider Forta Solutions has launched a new warehouse lending platform, Agility.
The new platform offers warehouse lenders unparalleled transparency, efficiency and a faster, more...
Freddie Mac Launches Tool That Matches Borrowers to Down Payment Assistance Programs
Freddie Mac has launched DPA One, a new tool to help mortgage lenders quickly find and match borrowers to down payment assistance programs nationwide.
DPA...
Ever Rising Rates Push Mortgage Application Volume Even Lower
Mortgage application volume dropped 6.9% during the week ended October 13 as the average rate for a 30-year, fixed-rate mortgage increased to 7.70%, up...
Housing Starts Unexpectedly Jumped 7 Percent in September
Housing starts jumped 7% in September compared with August to a seasonally adjusted annual rate of 1.358 million, according to estimates from the U.S....
Home Builder Confidence Dropped Again in October Due to Higher Mortgage Rates
Home builder confidence in October fell to the lowest level since January due to stubbornly high mortgage rates that have climbed to a 23-year...
Mortgage Bankers Association Names Mark Jones as its New Chairman
Mark Jones, president of Union Home Mortgage, is the new chairman of the Mortgage Bankers Association (MBA).
The news was announced during the association’s 2023...
MBA: Mortgage Origination Volume Forecast to Jump 19 Percent in 2024
Mortgage origination volume will reach $1.95 trillion in 2024 - up from the $1.64 trillion expected in 2023 - according to the Mortgage Bankers...
National MI Partners With TRUE to Deliver AI-Driven Loan Automation
National Mortgage Insurance Corp., a subsidiary of NMI Holdings, has partnered with TRUE, a provider of AI-driven loan decisioning technology, to streamline operational capabilities...
U.S. Home Prices Surged in September as Buyers Scoured the Dwindling Supply
U.S. home prices surged in September, as sellers sat on the sidelines and buyers chased what few homes were available for sale.
According to the...
FHFA Takes Further Steps to Reduce Loan Repurchase Requests
The Federal Housing Finance Agency (FHFA) is taking further action to reduce repurchase requests from Fannie Mae and Freddie Mac, which spiked in 2022...
Dark Matter Adds Mortgage Technology Veteran Stephanie Durflinger as Chief Product Officer
Stephanie Durflinger has joined Dark Matter Technologies, a new mortgage lending technology firm, as chief product officer.
Durflinger is a 15-year mortgage technology veteran. She...
FormFree Taps Jenny Moss as Director of Marketing
Communications and marketing professional Jenny Moss has joined software firm FormFree as director of marketing.
Moss joins FormFree from Depth PR, a boutique PR and...
Mortgage Lenders Can Now Count Income from ADUs When Underwriting FHA Loans
Mortgage lenders can now count income from accessory dwellings when underwriting Federal Housing Administration (FHA) loans.
The new policy aims to “help households of more...
Fannie Mae: Home Price Growth Slowed in the Third Quarter
Single-family home prices increased 5.3% from the third quarter of 2022 to the third quarter of 2023, up from the previous quarter's revised annual...