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How Originators Can Add Commercial Loans To Their Repertoire

How Originators Can Add Commercial Loans To Their Repertoire

Friday, 26 October 2018
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Times are challenging for originators. There are too few residential loans to go around, and the phones don’t ring like they used to during the refi boom. Residential mortgage brokers, however, don’t have to sit there and take it passively. They have an outstanding opportunity to open a new channel—and a significant new revenue source—commercial… Read more...
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Closed Purchase Loans Hits 71%

Closed Purchase Loans Hits 71%

Friday, 26 October 2018
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The percentage of closed purchase loans increased in September to 71 percent of total loans, according to the Origination Insight Report from Ellie Mae. Closed refinances represented 29 percent of total closed loans, returning to the July average. In September, the average 30-year interest rate for all loans decreased for the first time in 2018… Read more...
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Ellie's Revenues Rise 15%

Ellie's Revenues Rise 15%

Thursday, 25 October 2018
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Ellie Mae reported that revenues in the third quarter were $123 million, up from $107 million in 2017. “We grew revenue by 15% and increased revenue per loan 14% year-over-year,” said Jonathan Corr, president and CEO. Also, loan volume on the platform increased year-over-year despite industry mortgage volumes being down 9% on an absolute dollar… Read more...
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NAMB to Train Originators on Nuances of VA Loans

NAMB to Train Originators on Nuances of VA Loans

Thursday, 25 October 2018
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Originators don’t understand the nuance of Veteran Administration mortgage loans, so most veterans never get to discuss, much less, purchase, a VA loan. To ensure that they can take advantage of this benefit, the National Association of Mortgage Brokers plans to begin offering a training course and certification in Veteran Administration loans, ensuring originators gain… Read more...
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Eagle Home Mortgage Facing Class Action Lawsuit

Eagle Home Mortgage Facing Class Action Lawsuit

Wednesday, 24 October 2018
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Laura Faasua has brought a class action lawsuit against her former employer, Eagle Home Mortgage LLC, for alleged violations of California labor law. According to a court filing, the class action lawsuit against Eagle Home Mortgage is currently pending in the Alameda County Superior Court, Case No. RG18924014, and was filed by San Francisco Labor… Read more...
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Deephaven Licenses Underwriting Technology

Deephaven Licenses Underwriting Technology

Wednesday, 24 October 2018
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LoanScorecard’s automated underwriting technology will power Deephaven Mortgage’s launch of Identi-Fi AUS. The lender’s launch of this technology furthers its mission to empower mortgage professionals serving borrowers who face challenges securing a traditional government-financed mortgage. As a leading originator of non-QM mortgage-backed securities, Deephaven aims to be the top provider of non-agency loans to the… Read more...
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California Posts Largest Housing Sales Decline Since 2014

California Posts Largest Housing Sales Decline Since 2014

Tuesday, 23 October 2018
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The California housing market posted its largest year-over-year sales decline since March 2014 and remained below the 400,000-level sales benchmark for the second consecutive month in September. That’s an indication that the market is slowing as many potential buyers put their homeownership plans on hold, according to the California Association of Realtors. Closed escrow sales… Read more...
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New Tool Cuts Costs of Qualifying Borrowers

New Tool Cuts Costs of Qualifying Borrowers

Tuesday, 23 October 2018
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Envestnet-Yodlee has developed Envestnet-Yodlee Risk Insight for Pre-Qualification reports designed for lenders and lead generators who want more robust information to pre-qualify a borrower before engaging in full underwriting. Risk Insight infuses data into the lead qualification process, enabling lenders to target the right product to the right customer at the right time. Lenders looking… Read more...
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Technology Transforming Originator’s Role

Technology Transforming Originator’s Role

Monday, 22 October 2018
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The buying and technology preferences of borrowers will change the way mortgage originators conduct business. Technology will drive the industry and make it more efficient for borrowers and renters, over the next five to 10 years, and place information at their disposal, in an almost instantaneous manner. The high cost of originations, and changing expectations… Read more...
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New Penn, Freddie, Integra Developing Simultaneous Approvals to Both GSEs

New Penn, Freddie, Integra Developing Simultaneous Approvals to Both GSEs

Monday, 22 October 2018
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New Penn Financial, Freddie Mac and Integra Software Solutions are developing a one-click submission of loan data to Freddie’s automated underwriting system, Loan Product Advisor , and to Fannie Mae’s Loan Prospector. The aim is to deliver the capability to generate a best execution in the secondary market through data that’s simultaneously submitted to both… Read more...
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