ServiceLink has secured a new partnership with Select Portfolio Servicing Inc. , an industry-leading mortgage servicer headquartered in Salt Lake City. SPS has chosen ServiceLink’s powerful EXOS Servicing platform as its consumer digital strategy.

EXOS Servicing, part of the EXOS Technologies suite of services, is an intuitively designed, market-proven mobile app that offers digital touch points throughout the life of the loan. It provides consumers with real-time loan information at their fingertips including account status, statements, payment information and more that is accessible anytime, anywhere on any mobile device. Backed by more than 40 years of industry experience and years of investment in innovation and best-in-class technology, ServiceLink’s EXOS delivers immediate benefits including increased portfolio retention and soaring customer satisfaction.

“We’re thrilled that SPS has chosen ServiceLink to complement their consumers’ experiences and expectations around the digital mortgage process,” said Chris Azur, CEO of ServiceLink. “Our EXOS technology provides a new level of transparency and accessibility that will help position Servicers for the future.”

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WASHINGTON, D.C. (October 24, 2018) — Mortgage applications rose 4.9 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending October 19, 2018. The previous week’s results did not include an adjustment for the Columbus Day holiday.

The Market Composite Index, a measure of mortgage loan application volume, increased 4.9 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 5 percent compared with the previous week. The Refinance Index increased 10 percent from the previous week. The seasonally adjusted Purchase Index increased 2 percent from one week earlier. The unadjusted Purchase Index increased 2 percent compared with the previous week and was 0.2 percent higher than the same week one year ago.

“Mortgage application activity rebounded the week following the Columbus Day holiday, but both purchase and refinance levels remained lower than where they were two weeks ago,” said Joel Kan, MBA AVP of economic and industry forecasting. “The holiday impacted refinance applications more than purchases, as refinances rebounded almost 10 percent. Meanwhile, purchase applications increased two percent over the prior week but were still four percent lower than two weeks ago – a sign that both the jump in mortgage rates and tight inventory continue to hold back application activity. Mortgage rates increased over the week for most loan types, with most rates remaining at seven-year highs.”

The refinance share of mortgage activity increased to 39.8 percent of total applications from 38.1 percent the previous week. The adjustable-rate mortgage (ARM) share of activity decreased to 7.0 percent of total applications.

The FHA share of total applications decreased to 10.1 percent from 10.4 percent the week prior. The VA share of total applications decreased to 10.1 percent from 10.4 percent the week prior. The USDA share of total applications decreased to 0.7 percent from 0.8 percent the week prior.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($453,100 or less) increased to its highest level since February 2011, 5.11 percent from 5.10 percent, with points decreasing to 0.52 from 0.55 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans. The effective rate increased from last week.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $453,100) increased to 5.01 percent from 4.98 percent, with points decreasing to 0.28 from 0.34 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 5.07
percent from 4.99 percent, with points decreasing to 0.61 from 0.69 (including the origination fee) for 80 percent LTV loans. The effective rate remained unchanged from last week.

The average contract interest rate for 15-year fixed-rate mortgages remained unchanged at 4.50 percent, with points increasing to 0.55 from 0.54 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

The average contract interest rate for 5/1 ARMs its highest level since the series began in 2011, 4.47 percent from 4.34 percent, with points increasing to 0.37 from 0.35 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

If you would like to purchase a subscription of MBA’s Weekly Applications Survey, please visit www.mba.org/WeeklyApps, contact This email address is being protected from spambots. You need JavaScript enabled to view it. or click here.

The survey covers over 75 percent of all U.S. retail residential mortgage applications, and has been conducted weekly since 1990. Respondents include mortgage bankers, commercial banks and thrifts. Base period and value for all indexes is March 16, 1990=100.

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The Mortgage Bankers Association Has formed the Capital Council, a new business council made up of commercial real estate finance professionals from MBA member firms.

The Capital Council, which succeeds the Investor Council, will facilitate an exchange of ideas about investment in commercial real estate debt across the entire capital stack by firms putting capital at risk. The Council will serve as a forum for a broad and diverse group of commercial real estate capital providers, including life insurance companies, banks, securitized lenders, debt funds and government-backed capital sources. The forum will educate participants on market trends and conditions, with a focus on developing best practices and industry standards.

“The Capital Council is designed to be a valuable resource for those who shape and influence decisions on commercial real estate finance investment committees,” said Robert D. Broeksmit, CMB, MBA President and CEO. “I encourage MBA members with an interest in developing business relationships and sharing their insights with key decision-makers in the commercial real estate finance industry to join and add their voice to the conversation.”

Along with the Origination Council, Servicer Council and Multifamily Council, the Capital Council is the fourth MBA business council supporting commercial real estate finance members and rolls up to MBA’s Commercial Real Estate/Multifamily Finance Board of Governors (COMBOG). The Capital Council will be chaired by Jack Maher, managing director with Hartford Investment Management Company, and staffed by MBA’s Director of Commercial/Multifamily Andrew Foster.

“We welcome participants from all MBA member firms who are interested in learning from their peers and contributing to moving our industry forward,” said Maher.

For more information about MBA COMBOG’s business councils, including joining the Capital Council as an MBA member, visit: https://www.mba.org/get-involved/serve-on-an-mba-committee-or-council/combog-capital-council.

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