“The increase in rates triggered the fifth straight decrease in refinance activity to the slowest weekly pace since January 2020. Higher rates continue to reduce borrowers’ incentive to refinance,” said Joel Kan, MBA’s associate vice president of economic and industry forecasting, in a release. Mortgage applications to purchase a home increased 4% for the week but were 9%… Read More »
Existing home sales rose 7% to a seasonally adjusted 6.29 million units in September from a month earlier, according to the National Association of Realtors (NAR). The results outpaced analyst expectations of a 3.6% increase, according to Bloomberg consensus estimates. “This autumn looks to be the second best autumn home-sales season in 15 years,” Lawrence Yun, chief economist at NAR,… Read More »
Applications to refinance a home loan, which are most sensitive to weekly rate changes, decreased 7% for the week and were 22% lower year over year. The refinance share of mortgage activity fell to 63.3% of total applications from 63.9% the previous week. “Refinance applications declined for the fourth week as rates increased, bringing the refinance index to… Read More »
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 »