New Lender Defy Mortgage Launches to Serve Borrowers With Non-Traditional Income Streams
Despite the overall downturn across the industry, a new national mortgage lender, appropriately named Defy Mortgage, has launched.
The new lender will primarily focus on...
Wells Fargo to Exit Correspondent Business, Shrink Mortgage Servicing Portfolio
In order to streamline its mortgage business, Wells Fargo is exiting the correspondent business and plans to reduce the size of its mortgage servicing...
MBA: Mortgage Credit Availability Experienced Drop at End of 2022
Mortgage credit availability decreased in December, according to the Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association (MBA) that analyzes...
Susan Allen: How Lenders Can Capture More HELOC Business
PERSON OF THE WEEK: From home renovations to debt consolidation, savvy consumers know how to use HELOCs to their advantage - which is why,...
Black Knight Reports Mortgage Rate, Affordability Issues Magnify Winter Drop
Black Knight Inc. has released its latest Originations Market Monitor report, looking at mortgage origination data through December month-end. The month's pipeline data showed...
Home Purchase Sentiment Still ‘Very Low by Historical Standards’
The Fannie Mae Home Purchase Sentiment Index (HPSI) increased 3.7 points in December to 61.0, but the index remains only slightly above its all-time...
Unemployment Rate Edged Down in December, Wages Continued to Increase
The U.S. economy added 223,000 jobs in December, above expectations, while the unemployment rate edged down to 3.5%, according to the U.S. Bureau of...
Planet Home Lending Opens Location in Woodbury, N.Y.
Planet Home Lending, a national mortgage lender and servicer, reports that it has added a new team in Woodbury, N.Y., as part of its...
Sales Boomerang and Mortgage Coach Tap Shelli Holland as Chief People Officer
Shelli Holland has joined Sales Boomerang and Mortgage Coach as chief people officer.
Holland has nearly two decades of experience developing people strategy at leading...
CrossCountry Mortgage Implements CompenSafe Incentive Automation into Workflow
CrossCountry Mortgage, one of the nation’s largest retail mortgage lenders, is using SimpleNexus’ CompenSafe solution to manage incentive compensation for its loan originators.
The lender,...
Over 2 Million Homes No Longer Require a Jumbo Loan
More than 2 million homes across the country no longer require a jumbo loan, according to a new analysis by Zillow Home Loans. This...
MBA Reports Refinance Index Dropped 87 Percent Year over Year
Mortgage applications decreased 13.2% from two weeks ago, according to Market Composite Index data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey...
Secondary Platform Helps Habitat for Humanity Affiliates
PERSON OF THE WEEK: In a recent interview with MortgageOrb, Mark Tribuna, senior advisor, CRA Note Exchange, explains how the company’s online secondary platform...
CoreLogic: Year-Over-Year Double-Digit Home Price Growth Is Over
CoreLogic’s CoreLogic Home Price Index (HPI) and HPI Forecast for November 2022 show year-over-year home price growth ended its 21-month streak of double-digit momentum...
Four U.S. Regions Faced Downward Turn for Pending Home Sales in November
Pending home sales slid for the sixth consecutive month in November, according to the National Association of Realtors (NAR). All four U.S. regions recorded...
Ashley Sellers: Small to Midsize Lenders Need Automation to Remain Agile in this Market
PERSON OF THE WEEK: In this current mortgage market, many small to midsize lenders are struggling to survive. As was the case during the...
Four Ways to Wow a Lender’s Business Referral Partners in the New Year
BLOG VIEW: The lenders who are still in the business today are those most likely to make a run of it in 2023. Those...
FHFA Sees Near-Zero Appreciation in Home Prices for the Fall
House prices were flat nationwide in October, experiencing a 0.0% change from the previous month, according to the latest Federal Housing Finance Agency House...
Housing Market Experienced Home Price Gain Drop in October
The latest October 2022 data results for S&P Dow Jones Indices’ (S&P DJI) S&P CoreLogic Case-Shiller Indices show that home price gains declined across...
Falling Mortgage Rates Helped Boost New Home Sales in November
Falling mortgage rates gave new home sales a boost in November compared with October, but they remained down from a year ago.
New home sales...