“With fewer homeowners able to take advantage of lower rates, the refinance share dipped to the lowest level since April. Purchase applications were up slightly last week, and the large annual decline was the result of Memorial Day 2021 being compared to a non-holiday week, as well as the big upswing in applications seen last May once pandemic-induced lockdowns started to lift.”
–Joel Kan, MBA Associate Vice President of Economic and Industry Forecasting.
The share of loans in forbearance haven’t moved much lately–but for the past 14 weeks, they’ve been moving down, the Mortgage Bankers said Monday.
The Mortgage Bankers Association and a half-dozen industry trade groups asked federal regulatory agencies to hold implementation of new credit risk retention guidelines until the Consumer Financial Protection Bureau implements its updated Qualified Mortgage general definition.
Lisa Springer is a senior partner and CEO of STRATMOR Group, Greenwood Village, Colo., a data-driven mortgage advisory firm. She provides direction and leadership to achieve the firm’s strategic goals.
SimpleNexus, Lehi, Utah, named Cathleen Schreiner Gates CEO and announced Founder Matt Hansen will lead a task force of software developers and sales staff that specializes in high-priority projects.
In this article, we will analyze the bottlenecks due to a manual & paper intensive process that lead to loan defects. Based on this understanding, we will investigate the key business risks from such loan defects and how automation can play a role in mitigating these risks.
For all intents and purposes, RON has truly been a global solution, and given the renewed effort at the federal level for nationwide RON authorization, the shift may happen sooner rather than later for any remaining nay-sayers.
Redfin, Seattle, said asking prices leveled off as pending sales–which were rising at this time in 2019–posted a 3% monthly decline. Homes still sold for record prices, at record speeds.
CoreLogic, Irvine, Calif., said just 4.9 percent of all mortgages in the U.S. were in some stage of delinquency, the lowest rate in more than a year.
STR, Hendersonville, Tenn., said hotels saw an encouraging April as more revenue flowed through to the bottom line.
