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Originating (1388)

Otting to Pull Double Duty for Trump

Otting to Pull Double Duty for Trump

Friday, 21 December 2018
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President Trump has appointed Joseph Otting the Acting Director of the Federal Housing Finance Agency, a position that will begin after current Director Mel Watt leaves in early January. Otting will remain at the FHFS until a replacement is confirmed. He serves as the current Comptroller of the Currency, a role he will continue to… Read more...
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Management Spotlight: Brian Damico, President and CEO of New Fed Mortgage

Management Spotlight: Brian Damico, President and CEO of New Fed Mortgage

Wednesday, 19 December 2018
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Brian Damico, President and CEO of New Fed Mortgage in Danvers, Mass., was going to be a financial advisor, but was offered the opportunity to run a new, six-person mortgage company in 2000. He accepted the position, but the employees never materialized. That meant he had to learn the business from scratch. But Damico did… Read more...
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Prepayment Activity Hits 10-Year Low

Prepayment Activity Hits 10-Year Low

Thursday, 20 December 2018
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The U.S. loan delinquency rate for loans 30 or more days past due, but not in foreclosure is 3.71%, and a year over year change of -18.53%, according to Black Knight Inc.'s "first look" at November 2018 mortgage performance statistics. The data is derived from loan-level database representing the majority of the national mortgage market,… Read more...
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Redfin Predicts Lean Times for Real Estate, Lenders in 2019

Redfin Predicts Lean Times for Real Estate, Lenders in 2019

Tuesday, 18 December 2018
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The housing market will continue to slow in the first six months of 2019, available inventory will rise, and prices will increase, though at a slower rate than has been the case for years, according to Seven Predictions for the Housing Market, a report from Redfin. House-flippers will exit the market, and issues between technology… Read more...
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More Borrowers Buying ARMs Than at Any Time Since 2011

More Borrowers Buying ARMs Than at Any Time Since 2011

Wednesday, 19 December 2018
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The percentage of borrowers that purchased adjustable-rate mortgages reached 8.9 percent, the highest it’s been since Ellie Mae began tracking data in 2011. The increase in ARMs is directly correlated to the 30-year rate, which rose to 5.15 in November, up from 5.01 the month prior, according to the November Origination Insight Report from Ellie… Read more...
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New American Acquires Marketplace Home Mortgage

New American Acquires Marketplace Home Mortgage

Monday, 17 December 2018
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New American Funding has acquired Marketplace Home Mortgage, a regional lender that does business in 15 states. "Becoming part of New American Funding accelerates the growth plans we put into place several years ago," said Keith White, president of Marketplace Home Mortgage. "The current market is one that some lenders view as challenging, but we… Read more...
Housing Wealth Increased Among People 62 and Older

Housing Wealth Increased Among People 62 and Older

Tuesday, 18 December 2018
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Homeowners 62 and older saw their housing wealth increase 1.4 percent or $97 billion in the third quarter to $6.97 trillion from Q2 2018, according to the NRMLA-RiskSpan Reverse Mortgage Market Index from the National Reverse Mortgage Lenders Association. The RMMI rose in Q3 2018 to 251.57, another all-time high since the index was first… Read more...
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ATTOM Expands Housing Data to Include School Zones, Neighborhood Boundaries

ATTOM Expands Housing Data to Include School Zones, Neighborhood Boundaries

Sunday, 16 December 2018
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ATTOM Data Solutions has integrated expanded boundary data into its U.S. property data. The expanded boundary data features parcel boundaries for 135 million U.S. parcels along with school attendance zone boundaries for more than 67,000 schools in more than 13,000 school districts and neighborhood boundaries for more than 166,000 neighborhoods. "Accurate parcel boundaries offer an… Read more...
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Home Sales Lag Brings Inventory Increases, Strong Prices

Home Sales Lag Brings Inventory Increases, Strong Prices

Monday, 17 December 2018
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For a second consecutive month, there was a year-over-year increase in the number of homes for sale in November. The culprit home sales declined for a fourth consecutive month when compared to the same months in 2017, because prices remained strong, according to the RE/MAX National Housing Report. Across the 53 metro areas surveyed, inventory… Read more...
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Glick's Formula for Success--Treat Borrowers Like Family

Glick's Formula for Success--Treat Borrowers Like Family

Friday, 14 December 2018
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[caption id="attachment_8472" align="alignleft" width="240"] Glick: Anticipates a that the first quarter of 2019 will be good.[/caption] Eric Glick is area sales manager for the Georgia and South Carolina Coastlines and Jacksonville, Fla., markets for New American Funding. So far in 2018, he originated $90 million, or 384 units. In 2017, he originated $92 million, or… Read more...
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