Rate’s new SVP of Mortgage Lending for the Washington market is Connie Lindsay. The Seattle native’s new position was announced on Wednesday. She brings more than three decades of industry experience to the position, having most recently served as an LO with U.S. Bank. “This new role represents a thrilling chapter in my career, where…
New research found that accelerating loan delivery to the secondary and capital markets through eClosings leads to pricing gains of up to 10 bps. Research conducted by Snapdocs in partnership with Falcon Capital Advisors showed that lenders using Snapdocs delivered loans an average of five days faster and saw portfolio benefits of $115 to $283…
Taking November’s emphasis on gratefulness as their cue, Rocket Pro TPO is taking 24 bps off eligible loans as a “thank you” to its partners. Rocket Pro TPO EVP Mike Fawaz announced the promotion in a video. 24 Takeoff applies to purchases and refis for conventional, VA, and FHA loans. It does not apply to…
By ROB ZIMMER Americans are experiencing an affordable housing epidemic. A shortage in housing supply combined with rising interest rates has impacted millions of communities across state and party lines – making it increasingly difficult for families to realize their dream of homeownership. Unbeknownst to many, there’s another factor significantly contributing to the housing affordability…
United Wholesale Mortgage unveiled looser cash-out refinance guidelines to boost business, but some analysts worry it could stretch homeowners too thin. UWM launched a new 90% LTV cash-out refi that doesn’t require insurance. It’s painted as a way to “win more business and gain valuable referrals while helping borrowers take full advantage of their home…
Dark Matter unveiled another loan origination system, NOVA LOS, under its brand. The move allows Dark Matter to accommodate a diverse range of business models, with two distinct systems available. Where Empower is designed for lenders looking to scale, NOVA is a reliable, lower-cost solution that works well for small lenders needing minimal administrative overhead….
United Wholesale Mortgage rolled out a new technology to give brokers easy access to refinance opportunities. The system, KEEP, sends pre-validated refinance opportunities once mortgage rates shift to meaningfully save borrowers money. UWM says its goal is to help wholesale lenders capture refi opportunities in a saturated market. “In a refi market, you can expect…
Residential mortgage loans spiked in the second quarter of 2024, returning to early 2023 levels and setting the stage for further improvement. New data from ATTOM shows that 1.62 million mortgages secured by residential property (1 to 4 units) were issued in the United States during Q2, representing a 23.2% jump from the first quarter….
Independent mortgage banks showed net production profits for the first time in two years last quarter. IMBs and mortgage subsidiaries of chartered banks reported a pre-tax net profit of $693 on each loan they originated in Q2 2024, up from a loss of $645 per loan in the first quarter. That’s according to the Mortgage Bankers…
A new FICO collaboration is dedicated to expanding the mortgage industry’s understanding of social impact lending through education. The company partnered with the National Association of Minority Mortgage Bankers of America to boost its training and certification program on social impact lending. “This collaboration will help us expand the reach of our Certified Community Lender…
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