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MBA: Mortgage Apps Drop 3%

MBA: Mortgage Apps Drop 3%

Wednesday, 30 January 2019
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Mortgage applications decreased 3.0 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending January 25, 2019. This week’s results include an adjustment for the Martin Luther King Jr. Day holiday. The Market Composite Index, a measure of mortgage loan application volume, decreased 3.0… Read more...
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CFPB: Servicing Was Borrowers' Top Complaint

CFPB: Servicing Was Borrowers' Top Complaint

Tuesday, 29 January 2019
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Borrowers complained more to the Consumer Finance Protection Bureau about mortgage servicing issues than any other problem with their mortgages. Fully 11 percent of the complaints the bureau received were mortgage related, and 42 percent of them were from borrowers that had “trouble during [the] payment process,” according to “Complaint Snapshot: Mortgage” from the CFPB.… Read more...
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S&P CoreLogic: Rate of Home-Price Increases Slowing

S&P CoreLogic: Rate of Home-Price Increases Slowing

Tuesday, 29 January 2019
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The S&P CoreLogic Case-Shiller Indices showed that the rate of home-price increases across the U.S. had continued to slow in November. [caption id="attachment_9470" align="alignleft" width="240"] Blitzer: Low inventories are supporting home prices.[/caption] “Home prices are still rising, but more slowly than in recent months. The pace of price increases are being dampened by declining sales… Read more...
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Angel Oak Securitizes $609M of Non-QM Mortgages

Angel Oak Securitizes $609M of Non-QM Mortgages

Sunday, 27 January 2019
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Angel Oak Capital Advisors has completed a $609 million securitization primarily composed of non-QM residential mortgages. The securitization was backed primarily by loans originated through sister companies, or affiliates, including Angel Oak Mortgage Solutions LLC, Angel Oak Home Loans LLC and Angel Oak Prime Bridge LLC. The transaction was rated by both Fitch and Dunn… Read more...
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First American's November Real House Price Index Rises

First American's November Real House Price Index Rises

Monday, 28 January 2019
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Real house prices increased 0.8 percent between November and October 2018, according to the First American Real House Price Index. Real house prices increased 15.3 percent year over year. Consumer house-buying power, how much one can buy based on changes in income and interest rates, decreased 0.04 percent between October 2018 and November 2018, and… Read more...
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Five Critical Factors to Consider When Developing a Digital Mortgage Strategy

Five Critical Factors to Consider When Developing a Digital Mortgage Strategy

Friday, 25 January 2019
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By Mikhail Cook We are now a few years removed from the Super Bowl commercial that shook the slow to change mortgage industry to its core. But, frankly, it was needed. Having worked in mortgage technology for the past 17 years, it has always been amazing to me how slow the industry has been to… Read more...
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Bucking the Trend, SB Financial Increased Originations in ‘18

Bucking the Trend, SB Financial Increased Originations in ‘18

Friday, 25 January 2019
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SB Financial Group Inc. increased mortgage origination volume in 2018, though the business environment was challenging for lenders. The bank originated mortgage origination volume of $342.1 million, an increase of $26.3 million, or 8.3 percent, compared with 2017. [caption id="attachment_9395" align="alignleft" width="223"] Mark A. Klein[/caption] "Despite rising rates and inventory pressure, we increased our mortgage… Read more...
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Mortgage Apps Dipped 2.7%

Mortgage Apps Dipped 2.7%

Wednesday, 23 January 2019
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Mortgage applications decreased 2.7 percent from one week earlier, according to the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending Jan. 18, 2019. The Market Composite Index measures mortgage loan application volume on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the index decreased 0.3 percent compared with… Read more...
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Dodge: New Construction Starts Dropped 10% in December

Dodge: New Construction Starts Dropped 10% in December

Thursday, 24 January 2019
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New construction starts in December fell 10 percent to a seasonally adjusted annual rate of $708.9 billion. They declined 7 percent in the prior month. The December downturn reflects decreases in the three construction sectors, according to Dodge Data & Analytics. For instance: Residential building decreased 8 percent, due to reduced activity in December for… Read more...
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Brown Criticizes Kraninger (One Day Too Late)

Brown Criticizes Kraninger (One Day Too Late)

Tuesday, 22 January 2019
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The ranking minority member of the Senate Committee on Banking, Housing, and Urban Affairs, Sen. Sherrod Brown, D-OH, has criticized the Consumer Financial Protection Bureau’s failure to monitor financial services institutions for violations of the Military Lending Act. The MLA was passed in 2006 with broad bipartisan support and prevents predatory lenders from taking advantage… Read more...
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