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Regulators Propose Increasing Appraisal Thresholds

Regulators Propose Increasing Appraisal Thresholds

Tuesday, 20 November 2018
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Mortgage regulators have proposed that the threshold for residential real estate transactions requiring an appraisal be raised to $400,000. The Comptroller of the Currency, the Federal Reserve and the Federal Deposit Insurance Corp. developed the proposal. They think the increase, from the $250,000 current level set in 1995, could provide relief from the time and… Read more...
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Top-100 Lender Unveils Tech for Top Teams

Top-100 Lender Unveils Tech for Top Teams

Tuesday, 20 November 2018
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Homeside, a national mortgage lender, has launched Rev, a platform designed to deliver an entrepreneurial branch model experience built specifically for top-ranking lending teams. According to the company, the objective of the technology is to increase sales and revenue, complete originations faster—and create more opportunity for the teams. Rev was designed to deliver a tool… Read more...
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Homeowners Have Their Ages in Common

Homeowners Have Their Ages in Common

Sunday, 18 November 2018
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Homeowners have their ages in common. In the largest metropolitan statistical areas , the average age of a homeowner is 54, according to a survey from Lending Tree that relied on Census Bureau Data to complete the rankings. "It's no secret that young and old people gravitate toward different parts of the country," said Tendayi… Read more...
MBA: New Home Purchase Apps Drop

MBA: New Home Purchase Apps Drop

Monday, 19 November 2018
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New home purchases decreased 2.1 percent from a year ago, according to the Mortgage Bankers Association Application Survey for October. The performance in September increased 11 percent compared with September 2018. This change does not include any adjustment for typical seasonal patterns. “While we have seen some monthly swings in new home sales in 2018,… Read more...
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Household Debt Rises in Q3

Household Debt Rises in Q3

Friday, 16 November 2018
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The amount of household debt increased in the third quarter and is now greater than the level consumers held at the bottom of the post-financial crisis. Household debt increased by $219 billion (1.6%) to $13.51 trillion in the third quarter of 2018. Furthermore, overall household debt is 21.2% above the post-financial-crisis trough reached during the… Read more...
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Enotes Integration Completed

Enotes Integration Completed

Friday, 16 November 2018
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eOriginal Inc. and LendingQB have completed an integration that supports the generation, execution and management of eNotes. In October, eOriginal began an eNotes program with Wells Fargo Home Lending and joined with MERSCorp Holdings to offer MERS eNote Solutions. “LendingQB’s work with eOriginal is another milestone in the creation of an open ecosystem for technology… Read more...
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Broeksmit: 1st Timers Better Served, Reverse Mortgages Cause Angst

Broeksmit: 1st Timers Better Served, Reverse Mortgages Cause Angst

Wednesday, 14 November 2018
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The mortgage marketplace is doing a better job of serving once underserved borrowers and has been effective at mitigating risk from that effort, according to a review of The Department of Housing and Urban Development's Annual Report to Congress Regarding the Financial Status of the FHA Mutual Mortgage Insurance Fund. "The continued growth of the… Read more...
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Alt-Reverse Tool Could Fund Retirement for Baby Boomers

Alt-Reverse Tool Could Fund Retirement for Baby Boomers

Thursday, 15 November 2018
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Figure Technologies Inc. has developed a way for baby boomers to convert their home equity into retirement funds. With Figure Home Advantage, their home is sold and leased backed to the seller locking in any gains on the property. "We're building solutions to help Americans cope with this looming retirement issue. With rising interest rates,… Read more...
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Prosper Offering HELOCs in 2019

Prosper Offering HELOCs in 2019

Wednesday, 14 November 2018
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 Prosper, a peer-to-peer lending platform, will inaugurate a new digital Home Equity Line of Credit product in 2019, working with banks to improve the application process and reduce the time from application to closing. Banks will have the opportunity to increase their HELOC business because they will be gaining access to Prosper’s customer base, proprietary… Read more...
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MGIC, Ellie Complete Integration

MGIC, Ellie Complete Integration

Wednesday, 14 November 2018
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Mortgage Guaranty Insurance Corp. has made its products available through an integration with Ellie Mae’s platform. Customers can place orders for MGIC Rates, Delegated MI, Non-Delegated MI, and Contract Underwriting through Ellie Mae's Total Quality Loan Program. It’s designed to equip customers with the capability to streamline rate quote and order processes through automation monitor… Read more...
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