Mortgage Daily, July 27, 2017According to a statement, AFR Loan Center, the wholesaler’s origination portal, is being integrated into Amazon’s “intelligent personal digital assistant.”
Category: Top National News
Freddie Boosts US Mortgage Outlook By $140 Billion
Mortgage Daily, July 27, 2017Freddie Mac has improved its outlook for industry-wide single-family lending this year and next year by $140 billion. A majority of the increase went to home purchase financing.
CFPB Details TRID Supervision Standards
RESPA News, July 27, 2017 (subscription)When TRID initially became effective Oct. 1, 2015, Consumer Financial Protection Bureau Director Richard Cordray repeatedly stated that the bureau’s examinations would be “diagnostic and corrective” as opposed to “punitive.” Is this still the CFPB’s stance?
LendingTree’s Business is Booming as More Consumers Shop Around for Mortgages
HousingWire, July 27, 2017–Ben LaneAccording to LendingTree, total loan requests processed by its site grew by 48% in the second quarter compared to the same time period last year, to 5.4 million.
This Lincolnshire Mortgage Giant Called It Quits. Here’s Why
Crain’s Chicago Business, July 27, 2017–Steve DanielsFive years ago, InterFirst Mortgage was the 15th largest home lender in the country. Now, it’s closed its doors.
Tax Accounting Change Aids 77% Rise in Ellie Mae 2Q Net Income
National Mortgage News, July 27, 2017–Brad Finkelstein (subscription)Ellie Mae had second-quarter net income of $18.8 million, a 77% increase over the $10.6 million in the same period last year largely due to a tax accounting change.
Freddie Mac Kills 1% Down Payment Mortgages
HousingWire, July 27, 2017–Ben Lane, Brena SwansonFreddie Mac announced this week that it is changing the requirements to its low down mortgage program and will no longer allow lenders to contribute gifts or grants to reach the 3% down payment requirement.
Can FinTech Bring Down Surging Mortgage Servicing Costs?
GoRion, July 26, 2017–Sam BourgiThe mortgage lending industry is facing one its toughest market environments in years. Amid the apparent slowdown in origination volumes, excessive regulation has triggered a sharp rise in mortgage servicing costs. Once again, lenders are looking for revolutions in FinTech to tackle new cost burdens.
Will The Gig Economy Change Mortgage Lending?
Mortgage Orb, July 26, 2017–Peter G. MillerIt’s become increasingly clear that traditional views of employment aren’t all they’re cracked up to be–especially when it comes time to get a mortgage.
Lowest Mortgage Rates in a Month Barely Boost Weekly Applications…
CNBC, July 26, 2017–Diana OlickTotal mortgage application volume rose just 0.4 percent seasonally adjusted compared with the previous week, according to the Mortgage Bankers Association.