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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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Freddie Mac Integrating Asset, Income Tool

Freddie Mac Integrating Asset, Income Tool

Friday, 14 December 2018
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Freddie Mac is integrating the asset and income assessment solution delivered through Loan Product Advisor, its automated underwriting system which provides a fast, intuitive way for lenders to verify loan application data with LendingPad, a solution from Wei Technology. "LendingPad's expertise, combined with Loan Product Advisor's, superior underwriting capability, will help lenders provide a better… Read more...
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Home Sale Prices Up 3.3%

Home Sale Prices Up 3.3%

Wednesday, 12 December 2018
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Home-sale prices in the U.S. increased 3.3 percent year over year to a median of $298,800 in November, according to Redfin, a real estate brokerage. November marked the third-straight month of annual home price gains under 4 percent after a 77-month-long streak of annual home price gains exceeding 4 percent. "The tide has turned," said… Read more...
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CMG Unveils Creative Down-Payment Strategy for Borrowers

CMG Unveils Creative Down-Payment Strategy for Borrowers

Thursday, 13 December 2018
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[caption id="attachment_8430" align="alignleft" width="250"] George: UpIt makes homes more affordable for consumers[/caption] CMG Financial, a privately-held mortgage banking organization, has launched the UpIt feature for its digital-down-payment platform, HomeFundIt. In addition to crowdfunding with HomeFundIt, home buyers can now grow their down payment when they, or a participant in their network, shops at participating UpIt… Read more...
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NAMB, Calyx Create Seamless Data Exchange for Brokers

NAMB, Calyx Create Seamless Data Exchange for Brokers

Wednesday, 12 December 2018
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The National Association of Mortgage brokers is launching NAMB All-In, an open platform that will be available to members at no cost. It’s slated to go live on Jan. 1, 2019. “We are thrilled to announce this new tool and are eager to watch our members gravitate to NAMB All-In to take advantage of the… Read more...
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