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Navigating the Unchartered Waters: Rising Interest Rates in Mortgage Lending Explore how rising interest rates are affecting mortgage lending and homebuyer affordability in the current market.
Lending (1495)
Constellation Mortgage Acquires Mortgage Builder
Constellation Mortgage Solutions Inc has acquired Mortgage Builder, a provider of loan origination and servicing software systems. Mortgage Builder provides software to mortgage banks, community banks, credit unions and other financial institutions. In addition to loan origination software, its offerings include, servicing, relationship management, document management and a production portal. [caption id="attachment_11458" align="alignleft" width="147"] Scott… Read more...
Gen Xers Buying Multi-Generational Homes
One in six Gen Xers purchased a multi-generational home, overtaking younger boomers as the generation most likely to do so. Fully 52 percent of those buyers did so because their adult children have either moved back or never left home, according to the National Association of Realtors' 2019 Home Buyer and Seller Generational Trends study,… Read more...
MISMO To Expand Standards for Mobile Devices
MISMO, the mortgage industry's standards organization, is expanding its JavaScript Object Notation initiatives designed for mobile use and some transactions. A new group, known as the JSON Development Workgroup, will create guidelines for implementing JSON in business-to-business and business-to-consumer environments. It will also as well as to develop example JSON reference implementations. “JSON is the… Read more...
Transworld Systems to Acquire Altisource’s Financial Services Business
Transworld Systems Inc., a provider of analytics-driven accounts receivable management, healthcare revenue cycle and loan servicing solutions, has entered into a definitive agreement to purchase the financial subsidiaries of Altisource Portfolio Solutions for $44 million. The acquisition is expected to close before the end of the third quarter and is subject to customary closing conditions… Read more...
Sloan Steps Down as CEO of Wells Fargo
Timothy J. Sloan, has resigned as CEO, president and member of the board at Wells Fargo & Co., due to controversy surrounding a sales practices scandal. On a conference call Thursday, analysts were unsuccessful in their attempts to receive a direct answer to whether regulators had had forced Sloan to resign, or even whether criticism… Read more...
Lower Rates Spurred Big Increase in Refis
Mortgage applications increased 8.9 percent from one week earlier,according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending March 22. The Market Composite Index, a measure of mortgage loan application volume, increased 8.9 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index… Read more...
Fannie Mae Names Frater CEO
Fannie Mae has appointed Hugh R. Frater as chief executive officer, with responsibility for setting the vision and strategic direction of the company. In addition to his role as CEO, Frater, who was interim CEO since the fall, remains on the board. [caption id="attachment_11329" align="alignleft" width="149"] Hugh Frater[/caption] "Hugh's deep understanding of the housing and… Read more...
S&P CoreLogic: Rate of Home Price Increases Continues to Decrease
The rate of home price increases across has continued to decrease across the country. The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 4.3 percent annual gain in January, down from 4.6% in the previous month. [caption id="attachment_9471" align="alignleft" width="300"] David Blitzer[/caption] The 10-City Composite annual increase came in at 3.2 percent,… Read more...
Indies, Bank Subsidiaries Lose Money on Every Loan
Independent mortgage banks and mortgage subsidiaries of chartered banks continued to lose money on every loan they originated in the fourth quarter—but the loss was far smaller. Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net loss of $200 on each loan they originated in the fourth quarter of 2018, down from… Read more...
Resitrader Launches API That Enables Automated Pricing, Trade Confirm, Offer Pick-Up
Resitrader has launched the first in a series of application programming interfaces designed to create an integration with investors’ in-house systems and automate critical functions throughout the digital loan trading process. Resitrader is the digital-loan trading platform from Optimal Blue. The API allows the investor to connect to the Resitrader marketplace and automate pricing, offer… Read more...
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