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LenderCity Deploys Smart Chatbot

LenderCity Deploys Smart Chatbot

Monday, 21 January 2019
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LenderCity has deployed FinKube's Electronic Loan Services Assistant, a chatbot for interacting with prospective borrowers on the LenderCity website. "The technology enabled us to offer a high-tech, high-touch experience by leveraging technology to reduce cost," said Gregg Harris, principal at LenderCity. "It enabled us to reduce the work the loan officer does up front. The… Read more...
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MBA: New Home Purchase Apps Dropped 6.1% in December

MBA: New Home Purchase Apps Dropped 6.1% in December

Thursday, 17 January 2019
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The Mortgage Bankers Association Builder Application Survey data for December 2018 shows mortgage applications for new home purchases decreased 6.1 percent from a year ago. Compared to November 2018, applications decreased by 13 percent. This change does not include any adjustment for typical seasonal patterns. “New home sales declined for the second straight month in… Read more...
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Radian Acquires Artificial Intelligence Company

Radian Acquires Artificial Intelligence Company

Tuesday, 15 January 2019
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[caption id="attachment_9147" align="alignright" width="200"] Richard Thornberry, CEO of Radian.[/caption] Radian Group Inc. has acquired Five Bridges Advisors LLC, a developer of data analytics and predictive models leveraging artificial intelligence, machine learning and traditional econometric techniques. The acquisition is consistent with Radian’s growth and diversification strategy, as well as its focus on the core product offerings… Read more...
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What Digital Lender Increased Origination Volume 300%?

What Digital Lender Increased Origination Volume 300%?

Wednesday, 16 January 2019
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Better Mortgage, a digital mortgage lender, has reported that it has tripled originations in 2018, in the face of higher rates and a slowing real estate market. [caption id="attachment_9118" align="alignright" width="256"] Vishal Garg[/caption] Loan originations jumped to $1.34 billion in 2018, compared with $450 million in 2017. Better aims to deliver lower rates, faster closing… Read more...
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Freddie Has Lent $50B to Low- and Moderate-Income Borrowers

Freddie Has Lent $50B to Low- and Moderate-Income Borrowers

Monday, 14 January 2019
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Freddie Mac provided more than $50 billion in home mortgages to 262,328 families through its Home Possible mortgage origination program. The program assists low- to moderate-income homebuyers by offering a three-percent down payment solution from a variety of funding sources to families that meet or exceed a rigorous assessment process. “Home Possible is transforming the… Read more...
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10 Hottest Neighborhoods in the U.S.

10 Hottest Neighborhoods in the U.S.

Tuesday, 15 January 2019
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Expensive coastal hubs remain the most coveted places to live, but neighborhoods in Baltimore and Philadelphia are gaining popularity as the most desired, affordable neighborhoods in 2019, according to “Hottest Affordable Neighborhoods” a new report from Redfin. Neighborhoods in Chicago, the Portland, Oregon and Boston metro areas and San Antonio also show up in the… Read more...
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$1K Price Increase Means 130, 000 Households Can’t Buy a Home

$1K Price Increase Means 130, 000 Households Can’t Buy a Home

Sunday, 13 January 2019
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A $1,000 increase in the cost of a median-priced newly-built home, pushes 127,560 prospective buyers out of the market, notes a survey. These households would be able to qualify for a mortgage to purchase the home before the price increase, but not afterward, according to a recent study by the National Association of Home Builders.… Read more...
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NAMB, Lender Price Unveil NAMB Marketplace

NAMB, Lender Price Unveil NAMB Marketplace

Monday, 14 January 2019
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The National Association of Mortgage Brokers and Lender Price unveil the NAMB Marketplace, providing brokers with easy access to dozens of lenders and vendors. The marketplace is a new feature of the NAMB Toolbox that delivers access to an interface through which originators can interact with prospects and have access to thousands of loan programs.… Read more...
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Dallas-Based Team Increases Profitability 35%

Dallas-Based Team Increases Profitability 35%

Friday, 11 January 2019
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The Cooksey Team, a Dallas-based retail branch of Mid America Mortgage Inc., has achieved year-over-year growth in volume and profitability for the sixth year running. In 2018, The branch increased overall volume by 27 percent compared with the previous year and increased the number of loan units closed by 28 percent. In addition, the branch… Read more...
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Freddie Mac: Mortgage Rates Drop Significantly

Freddie Mac: Mortgage Rates Drop Significantly

Friday, 11 January 2019
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Mortgage rates have dropped significantly across the board, according to the “Primary Mortgage Market Survey” from Freddie Mac. “Mortgage rates fell to the lowest level in nine months, and in response, mortgage applications jumped more than 20 percent,” said Sam Khater, Freddie Mac’s chief economist. “Lower mortgage rates combined with continued income growth and lower… Read more...
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