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East Texas Title Completes its First Remote Online Closing

East Texas Title Completes its First Remote Online Closing

Tuesday, 29 January 2019
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East Texas Title has executed its first remote online closing in Texas since the state’s remote online notarization law went into effect. The transaction, which was executed using NotaryCam’s eClose360 platform, was performed on behalf of a couple in Colorado, who were selling their property in Longview, Texas. “We started conducting remote online closings on… Read more...
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LoanSnap Receives $4.7M Investment

LoanSnap Receives $4.7M Investment

Tuesday, 29 January 2019
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LoanSnap has raised $4.7 million investment led by Thomvest Ventures and existing investors, bringing the company's financing to $17 million. It offers conventional, Veteran Affairs and refinance mortgages as well as and home-equity lines of credit. LoanSnap offers what it describes as “smart-loan” technology that deploys artificial intelligence to analyze a consumer's financial situation and… Read more...
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Freddie’s Kiefer: There's No Housing Bubble

Freddie’s Kiefer: There's No Housing Bubble

Monday, 28 January 2019
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Realtors, homeowners and others who ask, "Are we in another house price bubble?" The answer is "No," said Len Kiefer, deputy chief economist for Freddie Mac, who was speaking at the 2019 Florida Real Estate Trends summit during the Florida Realtors Mid-Winter Business Meetings. "Home prices are up, but that by itself is no indication… Read more...
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Social Media Tools for Originators

Social Media Tools for Originators

Monday, 28 January 2019
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Loan officers can use social media to educate followers about the mortgage market, to be a trusted resource—not just as a way to advertise their services. To be sure, originators have expertise that consumers need and might not be able to get anywhere else, except through social media. The key is to generate and post… Read more...
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Otting Asked to Explain Administration's GSE Plans

Otting Asked to Explain Administration's GSE Plans

Friday, 25 January 2019
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What has Joseph Otting, acting director of the FHFA, included in the plan for removing the government sponsored enterprises from conservatorship and how will it affect underserved communities? Concerned that he will take that step without their input, much less take the time to explain what’s planned, Rep. Maxine Waters, D-CA. and chairwoman of the… Read more...
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FHFA: Interest Rate Indices Unchanged in December

FHFA: Interest Rate Indices Unchanged in December

Friday, 25 January 2019
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The interest rates on conventional purchase-money mortgages were almost unchanged in December, compared with November December, according to several indices of new mortgage contracts from the Federal Housing Finance Agency. The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 4.83 percent for loans closed in late… Read more...
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POS Vendor Receives $50M Funding Round

POS Vendor Receives $50M Funding Round

Wednesday, 23 January 2019
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Cloudvirga, a provider of a point-of-sale mortgage software, has received $50 million in funding, for a total of $77 million. The investors were lenders and private-equity firms. Cloudvirga’s clients originated almost $200 billion in loans in 2018, an increase of 54 percent compared with the mortgage loan volume processed in 2017 through its technology. [caption… Read more...
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Ellie Mae: ARMs Set Market Share Record

Ellie Mae: ARMs Set Market Share Record

Thursday, 24 January 2019
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The market share of adjustable rate mortgages reached 9.2 percent—a high watermark for 2018. This percentage is up from 8.9 percent the month prior and from the 2018 low of 5.5 percent, according to the December “Origination Insight Report” from Ellie Mae. Also, the share was the highest since Ellie Mae began tracking the data… Read more...
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Even in a Digital Mortgage Era, Relationships Reign Supreme

Even in a Digital Mortgage Era, Relationships Reign Supreme

Wednesday, 23 January 2019
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By Chris Roberts, Bryan Caffrey and Paul Gigliotti The digital mortgage might be good for the mortgage industry, but some predict it will cause the demise of originators, realtors, appraisers and others. That is far, however, from a foregone conclusion. To be sure, the digital mortgage is on the front of everyone’s mind. Digitizing the… Read more...
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Inventory Rises, Affordability of Homes Drops Across U.S.

Inventory Rises, Affordability of Homes Drops Across U.S.

Wednesday, 23 January 2019
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Although the supply of homes for sale is up in many markets, both the number and share of homes that are affordable to a typical household has decreased from a year ago, according to a new report from Redfin, a real estate brokerage firm. The report considers all homes that were active on the market… Read more...
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