Embrace Home Loans Now Using SimpleNexus Mortgage Platform
Embrace Home Loans is now using SimpleNexus’ digital mortgage platform.
SimpleNexus brings together LOs, borrowers, real estate agents and settlement agents on a single...
Existing-Home Sales Fell 6.6 Percent in February, Possible Slowdown Looming
After increasing the previous two months, existing-home sales fell in February compared with January but were up compared with February 2020, according to the...
FHFA Reports Solid GSE Performance on Distressed Mortgages
The Federal Housing Finance Agency’s (FHFA) fourth-quarter 2020 Foreclosure Prevention and Refinance Report shows that Fannie Mae and Freddie Mac completed 362,912 foreclosure prevention...
The Real Reason the Mortgage Industry Needs AI
BLOG VIEW: As a society, we are quick to fall in love with the latest buzzwords. Once we find one, we tend to use...
MBA: Rates Rise, ‘Shutting off Refinance Incentives for Many Borrowers’
According to the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending March 19, mortgage applications decreased 2.5 percent on a...
Ross Mortgage Expands To North Carolina
Ross Mortgage Corp., a full-service residential mortgage lender headquartered in Troy, Mich., reports that it is expanding into the North Carolina market with a...
Joe Zeibert: How Lenders Can Help Their LOs Stand Out in a Crowded Market
PERSON OF THE WEEK: With multitudes of real estate and mortgage data now available online, today’s home buyers are more savvy and better-informed than...
MBA: 95 Percent of Mortgage Banks Were Profitable in Q4 2020
Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported a net gain of $3,738 on each loan they originated in the fourth...
Cadence Bank Taps Black Knight to Provide Technology Solutions
Atlanta-based regional firm Cadence Bank has selected Black Knight Inc.’s origination and servicing technology solutions to support its mortgage and home equity business, expand...
NAR: ‘The Market Is Still Outperforming Pre-Pandemic Levels’
Existing-home sales declined in February, following two prior months of gains, according to the National Association of Realtors. Month over month, only one major...
Housing Starts Tumbled 10.3 Percent in February With Wild Weather Playing a Role
Housing starts in February were at a seasonally adjusted annual rate of 1.42 million, a decrease of 10.3% compared with January and a decrease...
Mortgage Originations Expected to Suffer in Face of Sliding Refi Activity
According to March 2021 commentary from Fannie Mae’s Economic and Strategic Research (ESR) Group, housing activity is expected to remain resilient in the near term even in the...
ClosingCorp: 2020 Brought An ‘Amazing Deal’ on Rates and Closing Costs
ClosingCorp says its first national refinance closing cost report shows that average closing costs for a single-family residential property refinance last year totaled $3,398...
Angel Oak Opens Doors in Reno, Plans Three More Branches
Angel Oak Home Loans, a full-service retail mortgage lender, has opened its newest office, located in Reno, Nev., and says three additional branches in...
Housing Finance Reform: Sen. Toomey Outlines ‘Guiding Principles’
U.S. Senate Banking Committee Ranking Member Pat Toomey, R-Pa., has released a set of “guiding principles” for housing finance reform that builds the framework...
Jim Loving: Correspondent Lenders Face Tough Call on Adding Niche Products
PERSON OF THE WEEK: The COVID-19 crisis had a profound impact on the mortgage industry in 2020. At the start of the pandemic, many...
U.S. Homeowners Saw Equity Increase 16.2 Percent in 2020
Due to rising home prices, U.S. Homeowners gained more than $1.5 trillion in equity in 2020, according to CoreLogic’s fourth quarter Home Equity Report.
That’s...
Citi Promotes Brad Wayman to Head of U.S. Mortgage
Brad Wayman has been promoted to Head of U.S. Mortgage at Citi.
Wayman has served in this role on an interim basis since December. He...
Mortgage Rates Rise For Fourth Straight Week
Mortgage rates increased for a fourth straight week, with the averages rate for a 30-year, fixed-rate mortgage rising to 3.05%, up from 3.02%, according...
Hybrid Traditional-Reverse Mortgage Introduced by Finance of America Reverse
Finance of America Reverse (FAR) has introduced EquityAvail, a hybrid product that combines aspects of traditional and reverse mortgages to deliver greater optionality for...