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NAMB's VA Loan Chair Says Bill's Passage Would Mean Positive Change

NAMB's VA Loan Chair Says Bill's Passage Would Mean Positive Change

Monday, 29 October 2018
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After spending more than 20 years in the Navy and reserves, Ken Bates retired from the service in 2014. Today he serves as the Veterans Administration chairman for NAMB and is a passionate believer that our veterans have earned their VA benefits and works to ensure they receive them. [caption id="attachment_7246" align="alignleft" width="150"] Ken Bates[/caption]… Read more...
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Downpayment Affordability Flat in Q3

Downpayment Affordability Flat in Q3

Monday, 29 October 2018
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A survey of down payment affordability, by state, showed that average down payment as a percentage of the purchase priced didn’t change in the third quarter. "The average down payment on a U.S. home fell in the third quarter, though down payments as a percentage of purchase price remained about the same," said Tendayi Kapfidze,… Read more...
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How Originators Can Add Commercial Loans To Their Repertoire

How Originators Can Add Commercial Loans To Their Repertoire

Friday, 26 October 2018
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Times are challenging for originators. There are too few residential loans to go around, and the phones don’t ring like they used to during the refi boom. Residential mortgage brokers, however, don’t have to sit there and take it passively. They have an outstanding opportunity to open a new channel—and a significant new revenue source—commercial… Read more...
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Closed Purchase Loans Hits 71%

Closed Purchase Loans Hits 71%

Friday, 26 October 2018
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The percentage of closed purchase loans increased in September to 71 percent of total loans, according to the Origination Insight Report from Ellie Mae. Closed refinances represented 29 percent of total closed loans, returning to the July average. In September, the average 30-year interest rate for all loans decreased for the first time in 2018… Read more...
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Ellie's Revenues Rise 15%

Ellie's Revenues Rise 15%

Thursday, 25 October 2018
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Ellie Mae reported that revenues in the third quarter were $123 million, up from $107 million in 2017. “We grew revenue by 15% and increased revenue per loan 14% year-over-year,” said Jonathan Corr, president and CEO. Also, loan volume on the platform increased year-over-year despite industry mortgage volumes being down 9% on an absolute dollar… Read more...
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NAMB to Train Originators on Nuances of VA Loans

NAMB to Train Originators on Nuances of VA Loans

Thursday, 25 October 2018
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Originators don’t understand the nuance of Veteran Administration mortgage loans, so most veterans never get to discuss, much less, purchase, a VA loan. To ensure that they can take advantage of this benefit, the National Association of Mortgage Brokers plans to begin offering a training course and certification in Veteran Administration loans, ensuring originators gain… Read more...
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Eagle Home Mortgage Facing Class Action Lawsuit

Eagle Home Mortgage Facing Class Action Lawsuit

Wednesday, 24 October 2018
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Laura Faasua has brought a class action lawsuit against her former employer, Eagle Home Mortgage LLC, for alleged violations of California labor law. According to a court filing, the class action lawsuit against Eagle Home Mortgage is currently pending in the Alameda County Superior Court, Case No. RG18924014, and was filed by San Francisco Labor… Read more...
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Deephaven Licenses Underwriting Technology

Deephaven Licenses Underwriting Technology

Wednesday, 24 October 2018
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LoanScorecard’s automated underwriting technology will power Deephaven Mortgage’s launch of Identi-Fi AUS. The lender’s launch of this technology furthers its mission to empower mortgage professionals serving borrowers who face challenges securing a traditional government-financed mortgage. As a leading originator of non-QM mortgage-backed securities, Deephaven aims to be the top provider of non-agency loans to the… Read more...
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California Posts Largest Housing Sales Decline Since 2014

California Posts Largest Housing Sales Decline Since 2014

Tuesday, 23 October 2018
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The California housing market posted its largest year-over-year sales decline since March 2014 and remained below the 400,000-level sales benchmark for the second consecutive month in September. That’s an indication that the market is slowing as many potential buyers put their homeownership plans on hold, according to the California Association of Realtors. Closed escrow sales… Read more...
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New Tool Cuts Costs of Qualifying Borrowers

New Tool Cuts Costs of Qualifying Borrowers

Tuesday, 23 October 2018
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Envestnet-Yodlee has developed Envestnet-Yodlee Risk Insight for Pre-Qualification reports designed for lenders and lead generators who want more robust information to pre-qualify a borrower before engaging in full underwriting. Risk Insight infuses data into the lead qualification process, enabling lenders to target the right product to the right customer at the right time. Lenders looking… Read more...
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