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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)
Quicken: Half a Point Separates Owners, Appraisers on Valuations
The year ended with owner and appraiser perceptions of home values slightly moving in different directions, although the difference remains less than half a percent nationally. Appraisal values were an average of 0.45 percent lower than homeowners expected in December, according to the National Quicken Loans Home Price Perception Index. This is compared to November,… Read more...
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Detwiler Weighs in on Reverse Mortgages, Technology, M&A
[caption id="attachment_8871" align="alignright" width="333"] Detwiler: There could be more consolidation among AMCs that haven't begun developing technology.[/caption] The Mortgage Leader spoke with Michael Detwiler, equity partner and CEO of Class Valuation, about the decision to invest in appraisal technology, the firm’s recent acquisition of Landmark Network, an appraisal management company--and why he predicts more consolidation… Read more...
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30-Year Industry Vet, Successful Producer Joins loanDepot
John Bianchi, a 30-year veteran of the mortgage business, has been named executive vice president for national sales at loanDepot. He will work with the executive team to cultivate and enhance market presence, develop differentiated products and services and create market penetration strategies designed to fuel individual producer as well as channel and company growth.… Read more...
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Unemployment Increases, Non-Bank Mortgage Employment Slips
The unemployment rate increased to 3.9 percent in December, from 3.7 percent in the previous month. The number of unemployed persons increased by 276,000 compared with the previous month to 6.3 million. A year earlier, the jobless rate was 4.1 percent, and the number of unemployed persons was 6.6 million, according to the Bureau of… Read more...
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Mr. Cooper Acquires $48B in Servicing Rights & More
Mr. Cooper Group Inc. is acquiring servicing rights on $24 billion in mortgages, a subservicing contract for an additional $24 billion in loans and the Seterus mortgage servicing platform from IBM. Details of the transaction were not disclosed. “We are excited to welcome more than 300,000 customers and the Seterus team to the Mr. Cooper… Read more...
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Trade Groups Seek Public Hearing on Increased Appraisal Threshold
Sixteen organizations that represent the interests of the appraisal industry have sent a letter to the Federal Reserve, Federal Deposit Insurance Corp., and the Office of the Comptroller of the Currency requesting that the agencies hold a public meeting as part of the process to determine whether to increase the residential appraisal threshold from $250,000 … Read more...
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First Command Helping Coast Guard Clients, During Government Shutdown
First Command Financial Services, Inc. will extend direct deposit pay to Coast Guard clients and other financial support to ensure they avoid potential financial hardships during the government shutdown. “The latest news reports on the government shutdown indicate that about 42,000 Coast Guard members won’t see their next paycheck until mid-January, and First Command is… Read more...
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FEMA Reverses Itself on Flood Insurance for Mortgages
The Federal Emergency Management Agency will issue and renew flood insurance policies, reversing an earlier ruling from the agency. The decision was controversial because 40,000 home sales are lost every month that flood insurance is not available to borrowers, according to the National Association of Realtors. "FEMA and the Administration deserve credit for hearing our… Read more...
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Pending Home Sales Drop 0.7 Percent in November
Pending home sales overall slipped in November but experienced small increases in the Northeast and the West, according to the National Association of Realtors. The Pending Home Sales Index, a forward-looking indicator based on contract signings, decreased 0.7 percent to 101.4 in November, down from 102.1 in October. However, year-over-year contract signings dropped 7.7 percent,… Read more...
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S&P CoreLogic Housing Price Index Reports 5.5% Annual Gain
The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, has reported a 5.5% annual gain in October, remaining unchanged from the previous month. The 10-City Composite annual increase came in at 4.7%, down from 4.9% in the previous month. The 20-City Composite posted a 5.0% year-over-year gain, down… Read more...
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