OSB Community Bank Adds Nexus Closing by SimpleNexus to Support Hybrid Closings
OSB Community Bank, an Illinois-chartered commercial bank with loan officers operating out of branches in Ottawa, Marseilles and Morris, Ill., is now using Nexus...
Non-QM Wholesale Lender Emporium TPO Using OptifNow for CRM, Marketing Automation
Emporium TPO, a non-QM wholesale lender headed by mortgage banking veterans Steve Nadon and Daniel Goodwin, is now using OptifiNow as its marketing automation...
Empowering Buyers to Succeed in Today’s Market
BLOG VIEW: Homebuyers have been dealing with a difficult market for some time. Until recently, the mortgage industry has been satisfied to leave the...
Guild Mortgage Launches Loan Program That Uses Alternative Credit Data
Guild Mortgage has launched a new loan program that evaluates borrower eligibility using residual income analysis and rent payment history.
Guild’s Complete Rate program, powered...
June Numbers Show Slight Delinquency, Foreclosure Increase
Black Knight Inc.’s report on June 2022 month-end mortgage performance statistics shows the total U.S. loan delinquency rate (loans 30 or more days past...
Fannie Mae Executes Two CIRT Transactions of Single-Family Loans
Fannie Mae has executed its seventh and eighth Credit Insurance Risk Transfer (CIRT) transactions of 2022. As part of Fannie Mae's ongoing effort to...
First American: Rising Mortgage Rates, Stagnant Incomes Create Home Affordability Crisis
First American Financial Corp.’s May 2022 First American Real House Price Index (RHPI) shows real house prices increased 50.8% year over year but median...
Craig Crabtree: Housing Affordability Has Become a Major Issue
PERSON OF THE WEEK: Mortgage interest rates continued to rise this past week, with the average rate for a 30-year fixed-rate mortgage climbing to 5.54%,...
Thirty-Year FRM Average Changes from 2.78 to 5.54 Percent in One Year
Freddie Mac’s Primary Mortgage Market Survey (PMMS) results show that the 30-year fixed-rate mortgage (FRM) averaged 5.54% with an average 0.8 point as of...
Fannie Mae Downgrades Expectations with Constrained Economic Growth
Amid record inflation and higher interest rates, expectations for full-year 2022 and 2023 real GDP growth were downgraded in July due to softening consumer...
Existing-Home Sales Decrease for Fifth Month in June, NAR Reports
Existing-home sales dropped for the fifth straight month in June, according to the National Association of Realtors (NAR). Three out of four major U.S....
New Home Mortgage Applications Decrease 12 Percent in June
Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for June 2022 show mortgage applications for new home purchases decreased 12% compared from a...
Class Valuation Completes Verification Process for Freddie Mac Solution
Class Valuation reports that it has completed the verification process for Freddie Mac’s new ACE+ PDR (automated collateral valuation plus property data report) solution.
These...
Xactus Rolls Out HELOC Verification Services Bundle
Verification solutions provider Xactus has launched a new HELOC Verifications Bundle to assist lenders and brokers with targeting prospects, assessing risk, and increasing efficiencies...
Relocations Hit Record Highs as Homebuyers Move to More Affordable Areas
A record 32.6% of Redfin.com users nationwide looked to move from one metro to another in the second quarter, up slightly from 32.3% in...
Redfin Reports First Annual Home Supply Increase Since 2019
The number of homes for sale nationwide in June rose 2%, the first annual increase since July 2019, according to a new report from...
Freddie Mac: Affordability Persists as Top Obstacle to Homeownership
Freddie Mac’s Primary Mortgage Market Survey (PMMS) results show that the 30-year fixed-rate mortgage (FRM) averaged 5.51% with an average 0.8 point as of...
Illinois, New Jersey and Ohio Show Highest Foreclosure Rates
ATTOM’s Midyear 2022 U.S. Foreclosure Market Report shows there were a total of 164,581 U.S. properties with foreclosure filings – default notices, scheduled auctions...
Why Would a Branch Move in Today’s Challenging Market?
BLOG VIEW: Rising mortgage interest rates and rapidly rising home prices have created two massive hurdles for mortgage industry players to overcome in the...
Radian Debuts Division Focused on Alternative Funding Sources for Lenders
Radian Group Inc. has launched Radian Mortgage Capital LLC (RMC), a mortgage conduit formed to provide residential mortgage lenders with an additional secondary-market option...