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Emerging Trends in Mortgage Lending: Navigating the Landscape with Confidence Explore the emerging trends in mortgage lending, including digital platforms, data-driven decisions, green lending, and regulatory changes, and how they are reshaping the industry.
Lending (1516)
Analysis: Property Taxes Rose 4% in 2018
Property taxes assessed on single-family homes were $304.6 billion in 2018, an increase of 4 percent, compared with $293.4 billion in 2017. The average property taxes of $3,498 for a single-family home in 2018 was up 3 percent from the average property tax of $3,399 in 2017, and the effective property tax rate of 1.16… Read more...
North Carolina’s GOP Chairman Indicted for Bribing Insurance Commissioner
A federal criminal indictment charged four people with public corruption and bribery, for an alleged conspiracy to commit wire fraud and bribery. According to the indictment, the aim was to bombard the state’s top insurance commissioner with gifts—in exchange for preferential business treatment. North Carolina state GOP chairman Robin Hayes and Greg Lindberg, founder of… Read more...
BofA Unveils $5B Affordable Homeownership Program
Bank of America has unveiled a $5 billion affordable homeownership program for low- to moderate-income and multicultural homebuyers and communities across the country. The Bank of America Neighborhood Solutions program will help more than 20,000 borrowers and is planned for five years. It encompasses a new down payment and closing-cost assistance option, innovative low- down-payment… Read more...
Heard Around the Industry: Arch MI Updates RateStar
Arch Mortgage Insurance Company has updated their premium pricing tool, RateStar, to provide express quotes and customized pricing options through a portal. RateStar was launched 10-years ago as a tool that could evaluate individual loan risk with more precision than any rate sheet. RateStar offers a mortgage insurance buydown feature, and its buydown feature allows… Read more...
Mortgage Applications Surge 18.6%
Mortgage applications increased 18.6 percent from one week earlier, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending March 29, 2019. The Market Composite Index, a measure of mortgage loan application volume, increased 18.6 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index… Read more...
Mountain America Deploys Digital Deposit Account Tool
Mountain America Credit Union has deployed a new digital deposit account tool from Blend. The tool enables the credit union to offer a seamless digital-account opening experience to consumers across desktop and mobile, within existing mortgage or home-equity-lending workflows. Mountain America Credit Union was able to roll-out Blend's deposit account product in one month, with… Read more...
CoreLogic Predicts Home Prices Will Rise 4.7%
Home prices will rise by 4.7 percent on a year-over-year basis between February 2019 and February 2020, , according to the CoreLogic HPI Forecast. On a month-over-month basis, home prices are expected to decrease by 0.5 percent between February 2019 and March 2019. The CoreLogic HPI Forecast is a projection of home prices calculated using… Read more...
Constellation Mortgage Acquires Mortgage Builder
Constellation Mortgage Solutions Inc has acquired Mortgage Builder, a provider of loan origination and servicing software systems. Mortgage Builder provides software to mortgage banks, community banks, credit unions and other financial institutions. In addition to loan origination software, its offerings include, servicing, relationship management, document management and a production portal. [caption id="attachment_11458" align="alignleft" width="147"] Scott… Read more...
Gen Xers Buying Multi-Generational Homes
One in six Gen Xers purchased a multi-generational home, overtaking younger boomers as the generation most likely to do so. Fully 52 percent of those buyers did so because their adult children have either moved back or never left home, according to the National Association of Realtors' 2019 Home Buyer and Seller Generational Trends study,… Read more...
MISMO To Expand Standards for Mobile Devices
MISMO, the mortgage industry's standards organization, is expanding its JavaScript Object Notation initiatives designed for mobile use and some transactions. A new group, known as the JSON Development Workgroup, will create guidelines for implementing JSON in business-to-business and business-to-consumer environments. It will also as well as to develop example JSON reference implementations. “JSON is the… Read more...
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