Ellie Mae, Pleasanton, Calif., said plunging interest rates sparked a jump in refinances among Millennial homeowners.
Category: News and Trends
2019 Home-Flipping Reaches 8-Year High; Returns at 8-Year Low
ATTOM Data Solutions, Irvine, Calif., released its year-end 2019 U.S. Home Flipping Report, which showed 245,864 single family homes and condos in the United States flipped in 2019, up 2 percent from 2018 to the highest point since 2006.
Tony Taveekanjana: 2020–The Year of the Millennial Homebuyer
Of all generations, millennials represent the single largest buying pool. Yet, across the industry there is a common belief that millennials aren’t interested in buying homes right now. Most lenders attribute this to affordability, high student debt, the appeal of metropolitan life and less loan availability.
Industry Briefs
Snapdocs Inc., San Francisco, announced an integration that makes its digital closing platform available through the Ellie Mae Digital Lending Platform.
People in the News
Planet Home Lending LLC, Meriden, Conn., hired Jim Bopp as vice president of national renovation lending. He will manage Planet’s retail and correspondent renovation loan programs, including FHA 203(k), VA Alterations and conventional loan offerings.
Mortgage Applications Jump in MBA Weekly Survey
The unofficial start of the spring home buying season began with a bang, as mortgage applications jumped more than 15 percent from the previous week and key interest rates hit a seven-year low, the Mortgage Bankers Association reported this morning in its Weekly Applications Survey for the week ending Feb. 28.
MISMO Releases New Tool to Speed Deployment of New Applications
MISMO®, the mortgage industry standards organization, released a new tool designed to facilitate use of MISMO standards.
Reggora’s Brian Zitin Discusses Appraisal Technology
Brian Zitin is Co-Founder and CEO of Reggora, Boston. Reggora is an appraisal technology company that gives mortgage lenders and real estate appraisers two-sided software that streamlines the appraisal process. The firm’s software automates manual processes from automatic order allocation to comprehensive quality control, freeing up time and decreasing costs for both parties.
Susan Graham: Reduce Origination Expenses by Using Loan Origination Software to Maximize Efficiencies
When loan origination volumes begin to drop, lenders must find ways to be more efficient to maintain profitability. Even with the growth of the past decade and the advances in technology tools, origination costs continue to rise, cutting into lenders’ bottom line.
CDC Business Sector Call on COVID-19 Today
The Centers for Disease Control and Prevention will hold a Business Sector Call today, Mar. 4, at 3:00 p.m. ET to discuss latest developments on COVID-19, also known as the coronavirus.