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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)
CoreLogic Revenues Dip 3% in 2018: Originations, AMC Segments Decline
CoreLogic reported revenues of $1.788 billion for 2018, down 3 percent as organic growth and benefits of acquisitions weren't enough to offset an estimated 15 percent drop in U.S. mortgage origination unit volumes and lower appraisal management company revenues. The company had U.S. mortgage loan origination unit volumes expected to decline around 5 percent from… Read more...
Black Knight: Prepayment Rate Marks 18 Year Low
Despite recent declines in interest rates, January's prepayment rate was the lowest since November 2000. Seasonal reductions in home sales outweighed any early, rate-driven rise in refinance incentive, according to the “first look” data from Black Knight. Housing turnover typically bottoms out in January and February, so prepayments could pick up again if rates remain… Read more...
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Ellie Mae-AI Foundry Create Partnership in Bid to Enhance Originations
Ellie Mae and AI Foundry have established a partnership in which they will integrate their respective technologies and use artificial intelligence and machine learning to help lenders improve the mortgage origination process. Lenders will benefit from the partnership through the availability of artificial intelligence-driven automation capabilities that significantly reduce labor-intensive processes associated with mortgage origination.… Read more...
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Nierenberg: NewRez to Originate Around $15B in 2019, Twice 2018's Volume
The volume of originations NewRez has targeted for 2019 is around $15 billion, double the $7.2 billion in originations the company completed in 2018. NewRez, formerly New Penn, is a subsidiary of New Residential Investment Corp. “As we look at 2019, a lot of that [growth] has to do with our own recapture and some… Read more...
Construction Starts Rise 2%
The value of new construction starts in January advanced 2% compared to December, reaching a seasonally adjusted annual rate of $722.5 billion, according to Dodge Data & Analytics. The slight gain followed the loss of momentum that was reported toward year-end 2018, with [caption id="attachment_5116" align="alignleft" width="319"] Robert Murray, chief economist for Dodge Data[/caption] construction… Read more...
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Mortgages Rates Continue Dropping
Mortgages rates continue to drop, according to Primary Mortgage Market Survey from Freddie Mac. “Mortgage rates fell for the third consecutive week, continuing the general downward trend that began late last year,” said Sam Khater, Freddie Mac’s chief economist. “Wages are growing on par with home prices for the first time in years, and with… Read more...
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Stearns Lending Promotes Steve Smith to President
Stearns Lending has appointed Steve Smith to the role of president, in which he will focus on growth opportunities for the 12th largest non-bank lender in the U.S. Smith will work with David Schneider, chief executive officer of the company, and will continue in his current role as chief financial officer. Also, he has been… Read more...
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TIAA Bank Eliminating Retail Lending Via Branch Network
TIAA Bank plans to eliminate the branch-based retail home-lending business—and concentrate on originating home mortgage loans through existing digital mortgage capabilities. “We understand that borrowers today need fast, convenient and cost-effective solutions,” said Blake Wilson, chairman and chief executive officer of TIAA Bank. “The changes we’re making will enable us to deliver [caption id="attachment_10244" align="alignleft"… Read more...
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S&P-Experian: Credit Default Rates Stable in January 2019
The composite S&P/Experian Consumer Credit Default Indices rate rose one basis point from last month to 0.90 percent. The bank card default rate rose eight basis points to 3.42%. The auto-loan default rate fell four basis points to 0.99%. The first mortgage default rate was two-basis points higher at 0.69%. The indices represent a comprehensive… Read more...
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MISMO Unveils Remote Online Notarization Standards
MISMO has released remote online notarizations standards for a 60-day public comment period—in a bid to ensure lenders avoid the inefficiency of dozens of state-level protocols. The aim is for the standards to face a rigorous review from organizations and industry participants—that demonstrates the standards are ready for broad use across the mortgage industry. Once… Read more...
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