Tag Archives: First Mortgage

Member First Mortgage, LLC, now offers hybrid eClosings with the help of Pavaso, Inc., a provider of digital process and collaboration solutions.

New debt created by first-time homebuyers transitioning into homeownership and existing homeowners that are upgrading to larger homes growing a rapid pace, meanwhile, home equity loan balances have cooled off thanks to borrowers paying off debts.

According to Equifax’s latest National Consumer Credit Trends Report, the total balance of first mortgages in February came up to $7.97 trillion, a 2.8 percent year-over-year increase and the highest balance since December 2011. “The decline in mortgage balances from accelerated amortization and foreclosure write-offs has finally been overcome by increases in mortgage debt due to home purchase lending,” said chief economist Amy Crews Cutts.