Cornerstone latest lender to take mortgage loan servicing in-house
In a coup for Black Knight, the deal is the latest in a growing trend as lenders see servicing as a way to smooth out revenue and retain past customers when they refinance or buy their next home
by Matt Carter Apr 13
Rising home prices expected to drive record purchase loan volume
High home prices are expected to drive a record $1.72 trillion in purchase mortgage originations in 2022, even though rising mortgage rates could put a dent in sales of existing homes
by Matt Carter Apr 13
Consumer-permissioned data could speed mortgage approvals
BeSmartee's lender clients now have access to MeasureOne's automated income and employment verification capabilities, a partnership that will allow lenders to process loan applications faster
by Matt Carter Apr 12
Mortgage industry players now pooling data to promote e-closings
MISMO, Snapdocs team up to launch 'e-Eligibility Exchange' with participation from major data providers including Freddie Mac and First American Corp.
by Matt Carter Apr 12
Home equity investment startup Splitero launches, raises $5.8M
The fintech startup offers home equity investments of up to $500,000 without income or credit score requirements and no monthly payments. The funds have a 30-year repayment period
by Andrea V. Brambila Apr 12
Changing of the guard at Fannie Mae as mortgage giant seeks CEO
Wells Fargo veteran Michael Heid will succeed Sheila Bair as board chair as the mortgage giant conducts a national search for its next CEO. Its current CEO, Hugh Frater, is retiring
by Matt Carter Apr 11
Clearing the cash-to-close hurdle in a single bound
Home affordability is an ever more elusive dream for many in today's market. Down payment assistance programs can be buyers' bridge to the reality of owning a home by overcoming the cash-to-close hurdle
Vontive nabs $135M for embeddable real estate investor loan platform
Series B round led by Zigg Capital includes $25M in venture capital and $110M in debt
by Matt Carter Apr 11
Would-be homebuyers rushed to lock in mortgage rates in March
Despite the fastest one-month rise in mortgage rates in nearly 13 years, purchase lock volume climbed 31% from February likely driven by borrowers moving to secure loans before rates rise
by Matt Carter Apr 10
Should your clients bid over asking price? A look at pros and cons
Opinion
In a hot seller's market, how should agents help their clients with pricing, bidding strategies and closing successfully? Here's how to set appropriate buyer expectations from the start
by Jenny Usaj Apr 8
Homebuyer sentiment hits record low
Only 24% of consumers think now is a good time to buy a home — the lowest reading ever recorded in a monthly survey conducted by Fannie Mae since 2010
by Matt Carter Apr 7
Mortgage rates surge to 5% as era of the ultra-cheap loan begins to fade
After hovering near 3% for nearly 2 years, mortgage rates have rebounded faster than expected. But amid uncertainty, economists are divided on whether 5% rates are here to stay
by Daniel Houston Apr 7
Sagent keeps lining up deals after starting year with a bang
Pittsburgh-based Clearview Federal Credit Union partners with Sagent to bring its mortgage servicing business in-house. The company has announced several similar deals in months past
by Matt Carter Apr 6
Rising mortgage rates most difficult for first-time homebuyers: MBA
As rates surged last week, demand for FHA purchase loans dropped by nearly 8%, according to a weekly lender survey by the Mortgage Bankers Association released Wednesday
by Matt Carter Apr 6
LoanMAPS announces integrations with FormFree and DocMagic
Integration with DocMagic’s Total eClose platform eliminates the need for an initial disclosure desk and closing department
by Matt Carter Apr 5
RenoFi lands $14M Series A to connect home renovators to lenders
The origination and underwriting platform allows homeowners to borrow up to 90% of their home’s 'future value' — after remodeling is complete
by Matt Carter Apr 5