Marketing professional builds on nearly 30 years of expertise including experience in financial services and information technology Denver, Colorado – October 19, 2021 – Cherry Creek Mortgage, a nationwide, full-service mortgage lender, today announced that Susan Vick has been promoted to Vice President of Marketing, after serving as Director of Marketing since joining the company in February 2020. Vick has 30… Read More »
New lending software exits beta at national lender, organization takes it nationwide. SEATTLE–October 18, 2021—Xpanse, a provider of automated lending technology, has hired industry veteran Phil Huff to serve as the company’s Chief Executive Officer. In his new role, Huff will lead the company beyond its successful beta trial, to the market nationwide. “Getting Phil to join the… Read More »
Scalable, end-to-end cloud-based solution sets up credit union for future growth DENVER, Colo., October 17, 2021 – Westerra Credit Union, a Denver-based financial services community that offers mortgages and other financial products to its members, announced it went live on the Blue Sage Solutions Digital Lending Platform. Designed with modern technology, the cloud-based Digital Lending Platform provides mortgage… Read More »
Zehl joins a growing team of mortgage industry consultants to advance innovation. ENGLEWOOD, CO—October 5, 2021—BlackFin Group, a management consulting firm serving the Banking and Mortgage Industries, has announced that industry veteran Suha Beidas Zehl has joined the company as Chief Innovation Officer, effective October 11, 2021. In her new role, she will be working on live projects,… Read More »
So the team used Figure as a proof case to originate, service, and securitize personal and home equity loans. Three things have happened as a result: (1) Figure has gotten big banks to participate in native Provenance Blockchain securitizations, and momentum is growing because — in the example of home equity loans — Provenance has cut 117 basis… Read More »
Extraordinarily high levels of home equity, thanks to the recent runup in home prices, has struggling borrowers in a far better position now than they were at the start of the pandemic. The number of active mortgage forbearance plans, in which borrowers were allowed to delay their monthly payments, fell by more than 5% from the previous week,… Read More »
“Refinance volume has been moderating, while purchase volume continues to be lower than expected given the lack of homes on the market,” said Mike Fratantoni, MBA’s chief economist. “Economic data has sent mixed signals, with slower job growth but a further drop in the unemployment rate in August. We expect that further improvements will lead to a tapering… Read More »
Those who aren’t forced out will still be displaced if selling is their only option, and an estimated 1 in 10 borrowers in forbearance will not have enough equity to sell. And while Congress approved $10 billion in federal assistance to help homeowners pay off debt, the program is moving so slowly that protections are expiring before states… Read More »
“Refinance applications jumped, as the 30-year fixed mortgage rate declined to its lowest level since February 2021,” says Joel Kan, the MBA’s forecaster. “With over 95% of refinance applications for fixed-rate mortgages, borrowers are looking to secure a lower rate for the life of their loan.” Homeowners stormed the refinance market as the average rate on a 30-year… Read More »